Open bank account

What is a bank account? The description and definition of the term.

Bank account - an account opened by the Bank for individuals and legal entities to accumulate on it non-cash funds, which are earmarked and provides an opportunity to take part to these individuals in non-cash turnover funds.


Distinguish following types of bank accounts: Monetary, fiscal, current, correspondent, current, savings, transit and other bank accounts are numbered in accordance with established rules and represent a numeric code that displays characteristics: the currency in which it is open;. the appointment of the account; banking division, which opened the account; key and the personal account number.

Types of bank accounts

The following types of bank accounts:

1. Foreign currency account
2. Budget bill
3. Correspondent account
4. Transaction account
5. Depersonalized metal account
6. Savings account
7. demand deposit account
8. Total score
9. Savings account
10. Checking account
11. Current account
12. Loan account
13. Fiduciary account
14. Transit account
15. Private account
16. The stock account
17. Checking account

Subjects in the bank account

The subjects of the bank account, on the one hand, are employed - a citizen or legal person, on the other - the bank. Accordingly, the bank account agreement the bank assumes the obligation to enroll and take into account, which is open to the client (account holder - legal or natural person), cash to fulfill the order the customer on transfer issuance of the necessary funds from the accounts and to conduct other transactions on the account.

The Bank can not refuse the client to open an account, the execution of transactions through which is seen by the law, the license issued to him by the constituent documents of the bank, in addition to cases where the failure is caused by the inability of the Bank priiyat on bank customer service or permitted by any legislation or law . The bank account agreement is of indefinite duration, consensual, bilateral, and usually compensated.

Credit institutions, taking into account the rules and requirements of the law are developing their own standard forms of bank account contracts, on the terms which they proizodit settlement services. In accordance with Art. 846 of the Civil Code the client can accept them or entirely, when he was not satisfied with at least some of the items in the conditions offered by the bank, to refuse registration of the bank account agreement.

Classification of transactions in the bank account

The operations are carried out according to the accounts, are divided into two types:

• customer service operations (commercial transactions of customers); 
• interbank transactions (transactions for the sale and purchase of currency, credit transactions, trade in the money market resources, and so on).

This payment system thus gives credit institutions the opportunity to realize a mediator in the settlement legal relationship.