The National Bank has submitted for public discussion the draft decree "On the current (settlement) bank account of an individual with basic service conditions," BelTA reports, citing the National Legal Internet Portal.
The National Bank has submitted for public discussion the draft decree "On the current (settlement) bank account of an individual with basic service conditions," BelTA reports, citing the National Legal Internet Portal.
The draft reflects general provisions characterizing specific issues related to the functioning of the basic account and requiring consolidation at the legislative act level.
The justification for the necessity of adopting this document states that the introduction of a current (settlement) bank account for individuals with basic service conditions into the range of banking products is intended to ensure the provision of a minimum set of free payment operations and create conditions that allow individuals to minimize expenses for the most in-demand operations. "At the same time, the approaches to payment services laid down in the draft will ensure the protection of the interests of the most vulnerable segments of the population – pensioners, students, low-income citizens, and individuals with specific status," the developers of the draft decree note.
The National Bank also believes that the implementation of the basic account in practice will expand the opportunities for potential clients to freely choose a bank for service, which will relieve individuals from the need to open accounts for receiving salaries and equivalent payments, scholarships, including scholarship supplements and financial aid for students, in specific banks, the choice of which often depends not on the person's own desire, but on the economic interest of the organization making the payment. "This approach will improve the protection of the legitimate rights and interests of payment service consumers. Thus, the draft document will establish a basic social standard for the provision of free payment services in the country's banking system at the legislative level," the document's developers note.
The justification states that the draft decree does not impose restrictions on individuals opening accounts in banks or receiving salary payments into accounts. Furthermore, the document does not limit people's ability to use various banking products and services, or to receive social payments and scholarships otherwise than through a bank.
The organizer of the public discussion of the draft is the National Bank.
Your comments and suggestions can be submitted in a dedicated thread on the Legal Forum of Belarus from April 6 to April 16.
BELTA