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Money can be recovered
22.05.2015
The complete article is available in PDF.
Making a payment to a closed bank account is not that rare. The situation is complicated due to, first, the absence of contractual relations between the payer and the receiving bank (hereinafter – the Bank) as well as between the Bank and the counterparty (due to the termination of the bank account agreement); and second, due to the fact that the payment on the details of a closed account was made by the payer.
However, this does not mean that the Bank gets to keep the money. Even though there are not contractual relations between the payer and the Bank, the payer may address the Bank directly with a written demand. According to clause 8.2 of the Bank of Russia Instruction No. 153-И dated 30.05.2014 «On opening and closing of bank accounts, accounts on deposits, deposit accounts», the funds received by the client after the termination of the bank account agreement are returned to the sender (payer).
The complete article is available in PDF.
Making a payment to a closed bank account is not that rare. The situation is complicated due to, first, the absence of contractual relations between the payer and the receiving bank (hereinafter – the Bank) as well as between the Bank and the counterparty (due to the termination of the bank account agreement); and second, due to the fact that the payment on the details of a closed account was made by the payer.
However, this does not mean that the Bank gets to keep the money. Even though there are not contractual relations between the payer and the Bank, the payer may address the Bank directly with a written demand. According to clause 8.2 of the Bank of Russia Instruction No. 153-И dated 30.05.2014 «On opening and closing of bank accounts, accounts on deposits, deposit accounts», the funds received by the client after the termination of the bank account agreement are returned to the sender (payer).
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