The Ministry of Finance will facilitate the banks closing customer accounts unilaterally


The Ministry of Finance plans to amend the Civil code, which will make it easier for banks the procedure for closing the accounts of the customers unilaterally, reports “Kommersant”. According to the newspaper, work on assessing the feasibility of such measures is conducted by the Ministry on behalf of the government together with the Central Bank, Ministry of economic development and with the participation of representatives of the banking community.

Offers of banks, according to the newspaper, were consolidated and sent to the Finance Ministry’s two largest banking associations. The Agency “Kommersant” reported that, in General, ready to support them.

Among the innovations, the newspaper writes, there are three main. The first is to allow banks to close unilaterally unused account with leftover money as legal entities and natural persons. Currently such an account, the Bank can not close unilaterally, even if the account holder does not use them for many years.

The second innovation is to allow banks to close accounts with a zero balance, which in the course of the year there is no movement (now more than two years).

The third is to give banks the right to terminate the contract with the client unilaterally, in violation of the recently adopted law on countering the legalization of criminal proceeds, giving the client a month or lesser period provided in the contract. Currently banks stop operations in the account immediately after the detection of violations, but the closure of the accounts occurs only 60 days after notice to the client.

The Ministry of Finance indicated that, despite the willingness to support in General the proposals of the bankers, require additional study and coordination with the relevant agencies, including the CPS. In this Department, for a request to “Kommersant” has not replied. When an agreed position on this issue is reached, the proposal was sent to the government, reported the press service of the Ministry of Finance.

Interviewed by the newspaper, the bankers expect that the amendments will allow them to more quickly get rid of millions of “dead” accounts, which will reduce the cost of their services. The problem of abandoned accounts relevant to all banks, the newspaper notes.

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