"`html
Money deposited in a bank account is subject to legal rules that are often little understood. Yet this common relationship between banker and customer conceals complex mechanisms that can affect your rights in the event of a dispute.
What is a bank deposit?
A bank deposit is a transaction whereby a person gives a sum of money to a bank, which undertakes to return it in accordance with the agreed terms. On the face of it, this simple transaction raises fundamental legal issues.
According to the French Monetary and Financial Code, this is a form of "receiving repayable funds from the public" (article L.312-2). The bank becomes indebted to its customer for a sum equivalent to that deposited, a mechanism that is essential for understanding the bank account, the central hub for all financial transactions.
Legal nature of bank deposits: a hybrid status
The legal classification of bank deposits divides legal experts. There are three opposing conceptions:
- Le irregular depositthe banker has free disposal of the funds but must return the equivalent, not the identical.
- Le consumer loanThe customer lends money to the bank.
- A sui generis contractAn original type of contract with its own characteristics.
The Court of Cassation ruled on 7 February 1984 that ". the deposit gives rise to a right of claim "(Civ. 1re, 7 Feb. 1984, no. 82-16.655).
This qualification is not just academic: it determines your rights if the bank fails.
The essential elements of a cash deposit
Transferring the funds: an essential first step
For there to be a deposit, funds must be remitted:
- whether requested by the bank or decided by the customer
- regardless of whether interest is stipulated
- regardless of whether the funds are remitted by the depositor himself or a third party
- in any form: cash or book money
The obligation to make restitution: the fundamental consideration
The bank undertakes to return an equivalent sum. Without this obligation, the transaction is not a deposit but a payment.
The restitution is for a numerical sum identical to that received, irrespective of currency fluctuations (article 1895 of the Civil Code). If the deposit was made in a foreign currency, the repayment should, in principle, be made in that same currency. These aspects are crucial in the day-to-day management of your banking assets.
The right to dispose of funds: a special feature of banking
Article L.312-2 of the French Monetary and Financial Code recognises the institution's right to freely use the sums deposited.
This essential feature differentiates bank deposits from traditional civil deposits. The bank can use your funds for its own business. This is why, if it is impossible to return the funds, the banker does not incur the penalties of breach of trust.
However, a recent ruling by the Criminal Division (20 July 2011, no. 10-81.726) tempers this principle: the fraudulent appropriation of funds after the account has been closed may constitute a breach of trust.
The cashier service: an optional component
The cash service (execution of payment transactions) is not systematically linked to the deposit. It depends on the type of account opened. A savings account, for example, does not generally offer this service.
Proof of deposit: a major practical issue
Proof of filing is subject to different rules depending on the status of the parties:
- Against the banker (merchant): proof by any means
- Against the depositor: distinction according to capacity
- Trader: proof by any means
- Non-traders: principle of civil formalism (written form required for amounts over €1,500)
In practice, tacit approval of bank statements often simplifies the evidential issue. Case law considers that " receipt of the statement without protest is equivalent to approval of the entries "(Com. 10 May 1994, no. 91-21.902).
The different methods of depositing funds
Deposits can take a variety of forms, from the most liquid to the most time-constrained. It is also essential to understand the legal particularities of group accounts (undivided, joint, etc.) for collaborative management of bank funds.
Sight deposits: maximum liquidity
Demand deposits represent the bulk of banking resources. Immediately redeemable, they offer total availability but traditionally pay limited interest - although the ECJ has condemned the French ban on interest on these accounts (decision of 5 October 2004).
Fixed-term deposits: the duration commitment
These deposits are entrusted for a fixed period (one or more months/years). The interest paid varies according to the economic climate and the length of the lock-in period. The longer the term, the more attractive the rate.
This enables the bank to manage its resources better, but the customer loses liquidity.
Notice deposits: flexibility under control
These deposits are repayable after prior notice to the bank. The interest rate generally depends on the period of notice.
This formula offers a compromise between liquidity and remuneration.
Deposits with securities issued: savings bonds
The bank may issue securities representing the capital received, such as savings bonds (art. L.223-1 et seq. of the French Monetary and Financial Code).
These securities, redeemable at maturity (5 years maximum), may be bearer, promissory or registered. They are not treated as securities and are not subject to the dormant account regime.
Savings deposits under special schemes
The legislator has created a number of formulas to meet specific needs:
- Housing savings accounts (CCH, art. L.315-1 et seq.)
- Building society savings plans
- Company savings books
- Company savings plans
- Popular savings books
- Popular retirement savings plans
These schemes offer tax benefits and sometimes access to preferential credit.
Earmarked deposits: a predetermined destination
These are funds remitted for a specific purpose: purchase of shares, subscription to a capital increase, creation of a cash collateral, etc.
The case law is strict: " the banker is obliged to respect the stipulated allocation, failing which he will incur contractual liability "(Com. 19 April 1985, Bull. civ. IV, no. 118).
The earmarked amount must not be entered in an ordinary account to avoid any confusion.
Disputes relating to bank deposits can be technically complex. Disagreement over the classification of a deposit, disputes over the execution of a special assignment or problems of restitution often require in-depth legal analysis.
Our firm can offer you expert, personalised legal support in examining your particular situation and defending your rights. Contact us for an initial consultation and benefit from an informed opinion on your legal options.
Sources
- Monetary and Financial Code, articles L.312-2, L.312-1-1, L.223-1 et seq.
- Civil Code, articles 1895, 1343-2
- Code de la construction et de l'habitation, article L.315-1 et seq.
- Court of Cassation, Civil Division 1, 7 February 1984, No. 82-16.655
- Court of Cassation, Commercial Division, 10 May 1994, No. 91-21.902
- Court of Cassation, Criminal Division, 20 July 2011, no. 10-81.726
- Court of Cassation, Commercial Division, 19 April 1985, Bull. civ. IV, no. 118
- ECJ, 5 October 2004, Case C-442/02
- Dalloz, Répertoire de droit commercial, "Deposit and bank account", Régine Bonhomme, October 2017
" `
EN 
FR