Chapter 45. Bank Account.
Article 845. Bank Account Agreement
1. Under the bank account agreement, the bank undertakes to accept and credit the funds received to the account opened for the client (account holder), to fulfill the client's orders for transferring and issuing the corresponding amounts from the account and performing other operations on the account.
2. The bank may use the funds on the account, ensuring the client’s right to dispose of these funds without hindrance.
3. The bank shall not have the right to determine and control the direction of use of the client’s funds and establish other restrictions not limited by the law or the bank account agreement of his right to dispose of the funds at his own discretion.
4. The rules of this chapter relating to banks also apply to other credit organizations when they conclude and execute a bank account agreement in accordance with the issued permit (license).
Article 846. Conclusion of a bank account agreement
1. When entering into a bank account agreement, a bank account is opened for a client or a person specified by him on a terms and conditions agreed by the parties.
2. A bank is obliged to conclude a bank account agreement with a client who has submitted an offer to open an account on the conditions announced by the bank for opening accounts of this type that meet the requirements of the law and the banking rules established in accordance with it.
The bank does not have the right to refuse to open an account, the execution of the relevant operations for which is provided by law, the constituent documents of the bank and the permission (license) issued to it, unless such a refusal is caused by the bank’s lack of ability to accept banking services or is allowed by law or other legal acts .
If there is an unjustified evasion of a bank from entering into a bank account agreement, the client has the right to present to it the requirements provided for by paragraph 4 of Article 445 of this Code.
Article 847. Verification of the right to dispose of funds on the account.
1. The rights of persons carrying out orders on behalf of a client to transfer and withdraw funds from an account are certified by a client by submitting documents to the bank, stipulated by law, bank rules established in accordance with it and a bank account agreement.
2. The client may order the bank to write off funds from the account at the request of third parties, including those related to the fulfillment by the client of his obligations to these persons. The Bank accepts these orders, provided that they provide in writing the necessary data that will allow identifying the person who has the right to present it upon presentation of the corresponding requirement.
3. The contract may provide for certifying the rights to dispose of monetary amounts held on the account, electronic means of payment and other documents using analogues of a handwritten signature (clause 2 of Article 160), codes, passwords and other means confirming that the order was given it's a face.
Article 848. Account operations performed by a bank.
The bank is obliged to perform for the client the operations stipulated for the accounts of this type by the law, the banking rules established in accordance with it and the customs of business turnover applied in banking practice, unless otherwise specified in the bank account agreement.
Article 849. Terms of account transactions.
The bank is obliged to credit the funds received in the client’s account no later than the day following the day the corresponding payment document is received by the bank, unless a shorter period is provided for in the bank account agreement.
The bank is obliged, upon the client’s order, to issue or transfer from the account the client’s funds no later than the day following the day of receipt by the bank of the relevant payment document, unless otherwise stipulated by law, bank rules issued in accordance with it or the bank account agreement.
Article 850. Crediting of an account.
1. In cases where, in accordance with a bank account agreement, a bank makes payments from an account despite the lack of funds (crediting an account), the bank is considered to have provided the client with a loan for the relevant amount from the date of such payment.
2. The rights and obligations of the parties related to crediting an account are determined by the rules on loan and credit (Chapter 42), unless otherwise provided in a bank account agreement.
Article 851. Payment of bank expenses for making account transactions.
1. In the cases stipulated by the bank account agreement, the client pays for the services of the bank for carrying out transactions with funds in the account.
2. Bank charges for services provided for in paragraph 1 of this article may be charged by the bank at the end of each quarter from the client’s funds on the account, unless otherwise provided by the bank account agreement.
Article 852. Interest for the use of bank funds on the account.
1. Unless otherwise provided by the bank account agreement, the bank shall pay interest on the use of funds on the customer’s account, the amount of which is credited to the account.
The amount of interest is credited to the account in the terms provided for by the contract, and in the case when such terms are not provided by the contract, at the end of each quarter.
2. The interest specified in clause 1 of this article shall be paid by the bank in the amount determined by the bank account agreement in the absence of a corresponding condition in the contract in the amount usually paid by the bank on demand deposits (Article 838).
Article 853. Settlement of counter claims of the bank and the customer on the account.
Monetary requirements of the bank for the client related to crediting the account (Article 850) and payment for the bank’s services (Article 851), as well as the customer’s requirements for the bank to pay interest on the use of funds (Article 852) are terminated by credit (Article 410), unless otherwise specified stipulated by the bank account agreement.
The offset of these requirements is carried out by the bank. The bank is obliged to inform the client about the offset taken in the manner and within the timeframes stipulated by the contract, and if the relevant terms are not agreed by the parties, in the manner and within the time limits that are common for the banking practice of providing clients with information on the status of funds in the relevant account.
Article 854. Grounds for debiting funds from an account.
1. The funds are debited from the account by the bank on the basis of the client’s order.
2. Without a client’s order, the withdrawal of funds on the account is permitted by a court decision, as well as in cases established by law or provided for by the agreement between the bank and the client.
Article 855. Order of withdrawal of funds from the account.
1. If there are funds on the account, the amount of which is sufficient to meet all the requirements for the account, these funds are debited from the account in the order of receipt of customer orders and other documents for write-off (calendar priority), unless otherwise provided by law.
2. If there are insufficient funds in the account to satisfy all the demands made on it, the funds are written off in the following order:
first of all, write-off is carried out on executive documents providing for the transfer or withdrawal of funds from an account in order to satisfy claims for compensation for harm caused to life and health, as well as claims for the recovery of alimony;
secondarily, write-off is made on executive documents providing for the transfer or issuance of funds for settlements on the payment of termination benefits and wages with persons working under an employment contract, including under the contract, on payment of remuneration under the author's contract;
Thirdly, payment documents are written off providing for the transfer or disbursement of funds for payment of wages with persons working under an employment contract (contract), as well as deductions to the Pension Fund of the Russian Federation, the Social Insurance Fund of the Russian Federation and funds of compulsory medical insurance;
fourth, a write-off is made on payment documents providing for payments to the budget and extra-budgetary funds, deductions to which are not provided for in the third order;
in the fifth stage, write-off is made on the executive documents providing for the satisfaction of other monetary claims;
in the sixth stage, other payment documents are written off in calendar order.
The funds are written off from the account according to the requirements related to one queue, in the order of the calendar order of receipt of documents.
Article 856. The responsibility of the bank for the improper performance of operations on the account.
In cases of untimely crediting to the account of funds received by the client or their unreasonable write-off by the bank from the account, as well as non-fulfillment of the client's instructions on transferring funds from the account or issuing them from the account, the bank is obliged to pay interest on this amount in the manner and amount provided by the article 395 of this Code.
Article 857. Bank secrecy.
1. The bank guarantees the secrecy of a bank account and bank deposit, account transactions and customer information.
2. Information constituting bank secrecy may be provided only to the customers themselves or their representatives, and also presented to the credit history bureau on the grounds and in the manner provided by law. Such information may be provided to state bodies and their officials exclusively in cases and in accordance with the procedure stipulated by law.
3. In the event of a bank disclosing information constituting a banking secrecy, the client, whose rights have been violated, shall have the right to demand compensation from the bank for the losses caused.
Article 858. Restriction of disposal of an account.
Restrictions on the client’s rights to dispose of funds held in the account are not allowed, with the exception of lodging money on the funds held in the account or suspension of account operations in cases provided for by law.
Article 859. Termination of a bank account agreement.
1. The bank account agreement is terminated at the request of the client at any time.
1.1. Unless otherwise provided by the contract, if there are no funds in the client’s account and operations on this account for two years, the bank has the right to refuse to execute the bank account contract, having warned the client in writing. A bank account agreement is considered to be terminated after two months from the day the bank sent such a warning, if no funds were received by the client during this period.
2. At the request of the bank, the bank account agreement may be terminated by the court in the following cases:
when the amount of funds stored in the client’s account is lower than the minimum amount stipulated by banking rules or the contract, if such amount is not recovered within one month from the date of warning the bank about it;
in the absence of operations on this account during the year, unless otherwise provided by the contract.
3. The balance of funds in the account is issued to the client or, at his direction, transferred to another account no later than seven days after receipt of the relevant written application from the client.
4. Termination of a bank account agreement is the basis for closing a client’s account.
Article 860. Bank accounts.
The rules of this chapter apply to correspondent accounts, correspondent subaccounts, and other bank accounts, unless otherwise provided by law, other legal acts, or banking rules established in accordance with them.
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