Cbank: Commissions on foreign currency accounts unacceptable

MOSCOW, Jun 15 (PRIME) – Commissions on foreign accounts and deposits servicing are unacceptable, the central bank said in a statement late on Tuesday.

"In the opinion of the regulator, inclusion in the current contracts on banking accounts and deposits, of a contractual provision of a unilateral increase or establishment of rewards for the transactions violate the consumer rights,” the statement said.

“The Central Bank of Russia notes that publication of the changes on an official website of a bank, whereby the lack of client objections is deemed as acceptance, cannot be qualified as an offer."

The authority also distributed a letter among banks, ordering to prevent violations of client rights and discontinue the mentioned practices.

Earlier in June, Tinkoff Bank charged a 12% annual commission on foreign currency accounts. Several other banks also introduced commissions.

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