CEC Recommended that Banks Inform Parents of the Conclusion of Contracts with Children
4 Articles
4 Articles
The Bank of Russia recommended that credit organizations notify parents of the conclusion of contracts with minor clients in various ways, not only in the case of the personal application of legal representatives to the unit; such a measure should prevent minors from being involved in financial transactions for unlawful purposes; it should transmit to RIA News; moreover, the Bank of Russia proposed that the legal representative be given the oppo…
The Bank of Russia recommended that banks, when entering into contracts with minor clients to provide them with electronic means of payment (EPP, e.g. bank cards), obtain contact from legal representatives of such clients (parents, adoptive parents) for prompt and free information.
The Bank of Russia recommends that credit organizations inform their parents when entering into contracts with minor clients, according to letter ... . . . . . . 13.11.2026, PRIM
The Bank of Russia recommended that credit organizations obtain contact information from parents or other legal representatives of minor clients in order to inform them of the children ' s financial transactions. Notifications are offered free of charge and the relevant recommendations are contained in the information letter of the regulator.
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