Instruction of the Central Bank of Russia No. 28-I of September 14, 2006 on the Opening and Closing of Bank Accounts, Deposit Accounts
Endorses the Instruction specifying the procedure of opening and closing in the Russian Federation by credit organisations (branches), divisions of the payment network of the Bank of Russia of bank accounts, deposit accounts of legal entities, natural persons, independent entrepreneurs, as well as natural persons engaged in private practice in the currency of the Russian Federation and foreign currencies.
The Instruction does not apply to the procedure of opening and closing of accounts of candidates for elected positions, accounts of deposits of servicemen opened in the field institutions of the Bank of Russia, as well as accounts opened for reasons other than the bank account (deposit) contract.
The grounds to open a bank account, deposit account is conclusion of an appropriate contract and submission of all specified documents. The client may be refused to open an account if the documents are not submitted to confirm information necessary for identification of the client or incorrect information is presented, as well as in other cases envisaged in the legislation. When opening the account, the bank officials identify the client, as well as check the presence of legal capacities with the client.
The account is considered to be opened from the moment of entry of the record in the ledger of opened accounts. It is entered no later than the working day following the day of conclusion of the appropriate contract.
To open an account, the originals of the documents or their copies are presented to the bank. The copies of the documents certified by the client legal entity are presented on condition that the bank verifies their compliance with the original. The given copies must contain the signature of the person having certified the copy of the document, his full name and position, as well as the client seal (stamp). The Instruction defines the procedure of suspension of certifying signatures by the bank officials.
The banks shall open in the currency of the Russian Federation and foreign currencies: current accounts; payment accounts, budget accounts; correspondent accounts, correspondent subaccounts; trust control accounts; special bank accounts; deposit accounts of the courts, divisions of the bailiff service, law enforcement bodies, notaries; deposit accounts.
The Instruction specifies the list of the documents presented to the bank to open each of the listed accounts, as well as regulates the procedure of drawing up of the card with the specimens of the signature and seal.
The grounds to close the account is the termination of the bank account contract. When the contract is terminated, the residue on the account is handed out to the client or transferred against his direction by the bankâ€™s payment order before expiry of the seven day time limits after receiving an appropriate written application of the client. Other turn-in and issue operations on the client account are not carried out.
A legal file is generated for each client account by the bank.
The Instruction specifies the list of issues that may be regulated by the internal document of the credit organisation â€“ bank rules.
Specifies the form of the card with the specimens of signatures and the seal and its filling procedure to be applied from the day of entry into force of the Instruction. The redrawing of the cards presented to the bank before the entry into force of the Instruction is not necessary.
The Instruction invalidates from the day of its entry into force the Direction of the Bank of Russia No. 1297-U of June 21, 2003 having defined the procedure of drawing up of the mentioned card earlier.
The banks shall work out and endorse the internal documents envisaged in the Instruction within four months form the day of its entry into force.
The Instruction shall enter into force thirty days after the day of its publication in the Herald of the Bank of Russia.
Registered in the Ministry of Justice of the Russian Federation on October 18, 2006. Reg. No. 8388.