Maurizio Sciuto

Bank Saving Deposits Reimbursement and Legal Prescription

  • Abstract

Informations and abstract

Keywords: bank, saving deposit, prescription, repayment, money reimbursement.

The article addresses the legal prescription of the right to repayment of the money on bank saving deposits and corresponding interests. Jurisprudence and part of the doctrine consider that such a right begins to prescribe as of the deposit date or the date of the latest account movement. However, recent decisions of the Courts and the ABF (Banking and Finance Arbitrator), following the trend of another part of the doctrine, rather consider that prescription starts from the date when the customer asks for funds reimbursement, according to the legal and economic purpose of the saving deposit contract. The foundations of these two opposite tendencies are assessed and particular attention is given to whether the latter trend, though preferable, deserves further development or clarification.

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