In the article, we will consider how to make a contribution in favor of third parties. What does this concept mean?
A deposit is money located in a bank with the aim of obtaining further benefits in the form of interest that accrues on the amount of the investment. What does it mean to open a contribution to a third party? This is the name of a deposit placed in a bank, the benefit of which is received not by the depositor himself, but by the one to whom the account is drawn up according to the concluded agreement. And since the depositor and beneficiary are different people, there are special conditions for processing such a contribution. Consider how to replenish such a deposit and whether it is possible to reissue it to another person, what percentage of the return can be received. And also compare the terms of deposits in favor of third parties of two large Russian banks: PJSC Sberbank and PJSC VTB.
How is the deposit opened?
According to paragraph 5. Article. 7 of Law No. 115-FZ of August 7, 2001, a deposit in the bank must be made personally. But banks began to interpret this wording a little differently. Some institutions insist on the mandatory presence of the person on whom the deposit is opened. Others willingly enter into a contract with a new citizen in favor of a third person. For example, if citizen A. wanted to open a contribution for citizen B., then A.'s personal presence is mandatory, since citizen B. is not a contributor, just an agreement is in his favor. Under this procedure, according to the civil code, no power of attorney is required for the actions taken.
When a third party contribution is needed
In banking terminology, the recipient is the one in whose name the deposit is open.
Contribution to the name of the Recipient may be required in different situations:
- the depositor is away, and his relatives need money;
- at the time the contract expires, the depositor's passport will be invalid;
- deposit as insurance in case of loss of documents;
- special gift;
- an asset for children, associated, for example, with education, weddings, buying a home;
- You can use the deposit as a money transfer;
- when buying real estate, this is often used because no fee for transferring funds;
- for a guaranteed return of the insured amount, as the contribution will be reimbursed to each investor.
For example, you can make a contribution to relatives or friends to ensure safety, if an insured event occurs. Suppose the total amount of the deposit is 2,800,000 rubles, upon the occurrence of an insurance event, the recipient will be paid only 1/2 of the amount, because there is a maximum limit on payments, which is 1,400,000 rubles. And if you place part of the amount on yourself and the other on your loved one, then you will receive a refund for the entire amount of the contribution.
Deposit Processing
To open a deposit in favor of third parties, banking institutions set different conditions for depositors. Some banks allow you to make a choice for a deposit from any current deposit offer. Some banks are limited to one or two programs. The list of documents required to conclude a contract is also different for everyone. According to the legislation, a bank employee does not need additional documents to make a deposit to a third party; it is enough for him to clarify the surname, name and patronymic of the beneficiary. There are cases when a bank institution requested a photocopy of a child’s birth certificate or his passport to make a deposit on him. Such a seemingly inconvenience will protect you from possible errors in writing personal data or in the form of issuing funds to namesakes.
Contract
The conclusion of a deposit agreement in favor of a third party proceeds according to the usual procedure:
- The depositor turns to the bank branch, where he was interested in the proposal to open a deposit.
- To conclude an agreement, he necessarily takes with him an unexpired passport of the Russian Federation with a valid registration.
- To avoid mistakes when concluding a contract, take photocopies of your birth certificate or passport of the person you are opening a deposit with you.
- In the contract, indicate the recipient. At the time of conclusion of the contract, you are a depositor, and you deposit money into the account.
- When you sign the contract, deposit money into the account at the cash desk of a banking institution.
- One copy of the signed contract is transferred to the depositor.
When signing the contract, you should carefully study all the terms and conditions that the banking institution offers you. Pay attention to the point on the possibility of replenishing this deposit by unauthorized persons, since some banks restrict this action. In this case, in order to replenish the account, the permission of the beneficiary will be necessary. Most often, banks allow depositors to manage the deposit until the registered owner applies for rights to their deposit.
How can I replenish the deposit?
Each bank has established rules for replenishing a deposit account. If the contract does not stipulate special comments, then the account can be replenished by any person, whether it is the depositor himself, the recipient, or even an outsider. To do this, you must contact the nearest branch of the bank where the contract was concluded, present documents with the full name of the recipient and the correct account, and then make money through the cashier of the banking institution.
Online
Many banks offer to use the services of an online bank or ATM to save the time of the depositor. The currency of the open deposit should be taken into account: if it is not rubles, then in this case a third-person power of attorney will be required. Such a rule is legal and absolutely legitimate. If the account is in rubles, a power of attorney is not required.
Which bank approves third party deposits?
In our country, not all banks support registration of deposits for other citizens. The following is a list of the most popular and stable banks that open deposits to third parties:
- PJSC Sberbank;
- SMP-Bank JSC;
- PJSC VTB-24;
- PJSC "Renaissance";
- AKB Absolut Bank;
- CJSC “Project Finance Bank”;
- AKB RosinterBank;
- PJSC Uralsib.
Such deposits are not opened by Raiffeisenbank JSC, CB Uniastrum Bank.
How to open a deposit in Sberbank PJSC?
To open a deposit in favor of a third party in Sberbank, you must present your valid passport and a copy of the recipient’s passport certified by a notary to open an account in his favor. The deposit is opened only for one person with the possibility of free registration of a power of attorney to manage the deposit. Such a document can be issued for relatives, it makes it possible to withdraw money from the account. They can replenish it, close it, and also transfer money to other accounts. The power of attorney is three years. You can issue it in the office at the bank, the presence of a trustee is not required.
Program selection
The choice of a deposit program depends on the currency in which you open. If you have rubles or dollars, you can use the programs “Save”, “Replenish”, “Manage”, and if you plan to deposit in euros, then “Savings Account” with a rate of 0.01% per annum is suitable for you. If you are a senior citizen, then in this bank you will receive the largest percentage on “Save” and “Replenish” deposits, while the initial amount will be minimal. To complete all procedures, you must contact any branch of Sberbank PJSC.
If the depositor and the recipient are in different cities, the latter must contact the nearest office and write a statement about the transfer of funds. Within three days, the recipient will be able to issue money. If the deposit term has ended, and the funds remain in the account, then the conditions of the contract continue to apply. You can withdraw money on the day the deposit is completed through the Sberbank Online mobile application, simply transfer it to another account. The number of deposits is not limited. In general, deposits in favor of a third party in banks are popular.
Conditions for opening a deposit in VTB 24 PJSC
PJSC VTB 24 is a commercial bank with state participation. Here you can make a deposit to another person only with his consent and with a power of attorney certified by a notary.
There are two ways to make a deposit:
- Through any nearest branch.
- Via online banking or ATM.
After opening a deposit in favor of a third party at VTB, you receive an agreement upon presentation of your passport. If you contacted the office, then you need to provide the following personal data about the citizen:
- Surname, name, patronymic of a third party.
- Proof of his citizenship.
- Place and date of birth.
- ID details.
- Registration address.
- INN
- Contact number.
- Immigration card details if the recipient is a foreign citizen.
To date, the banking institution does not open deposits for minor children.
A banking institution offers several deposit programs with different interest rates and conditions. You can replenish the account either through the cash desk of the bank, or online. All bank deposits are insured. In the case of insurance compensation, investors receive the entire amount, but not exceeding 1,400,000 rubles.
PJSC VTB 24 allows you to replenish your account in any currency. There are no restrictions on opening several deposits at the bank.
What is important for the investor to know
How to draw up a contribution in favor of a third party, it is important to find out in advance. In this case, you must take into account the rules of the banking institution. The depositor has rights to the account until the recipient has not applied for payments. Unless, of course, other conditions are indicated in the signed contract.
In the event of the closure of a banking institution, funds are paid to the recipient, and if it is a child under 18, then its official representative.
When concluding an agreement, pay attention to the possibility of receiving payments at another bank branch. Some lending institutions give out money only in the office where the contract was concluded.
Each bank has its own proposals for the terms of the deposit. On average, it ranges from a week to 5 years. Carefully study the conditions for the expiration of the deposit. There are banks that extend the contract on the same terms, and some institutions set the lowest interest rate. If the account is opened in the name of the child, the condition for withdrawing funds may be age, for example, after reaching 18 years.
It is enough to have a passport with you to receive a contribution in favor of third parties. Guaranteed return on deposit guaranteed.
The choice of a banking institution for opening a deposit should be taken with great responsibility, having previously assessed all the risks and conditions so as not to lose your savings.
The article examined the features of the contribution in favor of third parties.