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If you have a bank card in your hands, this does not mean at all that you are its owner or owner. You are just a cardholder - a client of the bank, who was allowed to use it for a period equal to the validity period of the bank card (3-5 years). Why this is so, we will talk in our article.
Cardholder. Who is it?
If you look at the banking service agreement (BSA) of individuals of any bank, then in the section "Terms used in the agreement" opposite the term "Cardholder" you will see something like this: an individual in whose name the card is issued, who has received the right to use card in accordance with this RBS (extract from UDBO of PJSC bank). Quite simply, a bank card holder is the person in whose name the bank issued the card.
Further in the text of the agreement, you will surely come across the phrase (we analyze the same UDBO): The card is the property of the bank and is issued to the holder for temporary use.
It turns out that the issuing bank that issued the card is its owner (or owner), and the one to whom it was issued is its temporary holder or user. Why temporary? Because the card is valid for a limited number of years, but the bank will decide whether to reissue it for a new term or not.
Thus, it is incorrect to say that you are the owner of the card.
On the contrary, if you open an account with a bank, then you will be the owner of the account. , the bank does not have the right to refuse to open an account, the performance of transactions on which is stipulated by law and on the terms agreed by the parties. Also, under the bank account agreement, the bank undertakes to accept and credit funds received to the account opened for the client (account owner), to follow the client's orders to transfer and issue the corresponding amounts from the account and conduct other transactions on the account. At the same time, the bank can use the funds available on the account, guaranteeing the client's right to freely dispose of these funds.
All of the above operations can be carried out with a bank card. Actually, it is a convenient tool (key) for accessing money on a client's account (card account). What is the difference between a card and a card account.
Why does the account holder not become the owner of the card linked to the account?
Why is there such a discrepancy: the cardholder is the owner of the account to which the card is "tied", but is not the owner of the card itself, even if he pays a lot of money for its issue and annual maintenance? To be honest, the author of the article for some time could not formulate an answer to the question asked, but the answer surfaced suddenly.
It's that simple! Imagine buying a regular ballpoint pen. This is a product with which you can write or draw, it fulfills its main function 100% without any conventions. And if we buy a refrigerator, but we do not have electricity at home, or a car, but gasoline disappears at gas stations, finally, a cell phone without a SIM card. In all these cases, you will be the owners of these things, but the things by themselves, under the above restrictions, will be useless.
Similar analogies can be drawn with a bank card. It is not a "thing in itself". The card is just the very tip of the iceberg, which consists of many components (hardware and software) that allow all these endless bank payments (transactions) to go through. And the central link here is not a bank at all, but an international payment system (everyone knows Visa, MasterCard, etc.), which connects banks with each other and gives us the opportunity to pay anywhere in the world with money that lies on our card accounts in the bank. issuer. And the key element of any card is not the name of the bank, but the logo of the payment system, without which any card would not make much sense.
Without such international systems, banks would be forced to build the entire payment system (payment infrastructure) on their own, negotiating with each outlet to install their own POS terminal and other equipment there. In this case, the cash register would be inundated with terminals of various banks, and the cost of the card would certainly have increased significantly. If you familiarize yourself with the history of the emergence of the card, you will see how it all began without computer technology, and what an expensive pleasure it was.
A person cannot be its owner, since the card is part of a complex payment infrastructure, and without this “part of the iceberg” it becomes just a useless piece of plastic. That's when you terminate the agreement with the bank (in case the bank does not demand its card back, which it has every right to do), then you become the owner of a piece of plastic, the use of which, even on the fly, cannot be found.
- 1 Cardholder. Who is it?
- 2 Why does the account holder not become the owner of the card "linked" to the account?
If you have a bank card in your hands, this does not mean at all that you are its owner or owner. You are just a cardholder - a client of the bank, who was allowed to use it for a period equal to the validity period of the bank card (3-5 years). Why this is so, we will talk in our article.
Cardholder. Who is it?
If you look at the banking service agreement (BSA) of individuals of any bank, then in the section "Terms used in the agreement" opposite the term "Cardholder" you will see something like this: an individual in whose name the card is issued, who has received the right to use card in accordance with this RBS (extract from UDBO of PJSC bank). Quite simply, a bank card holder is the person in whose name the bank issued the card.
Further in the text of the agreement, you will surely come across the phrase (we analyze the same UDBO): The card is the property of the bank and is issued to the holder for temporary use.
It turns out that the issuing bank that issued the card is its owner (or owner), and the one to whom it was issued is its temporary holder or user. Why temporary? Because the card is valid for a limited number of years, but the bank will decide whether to reissue it for a new term or not.
Thus, it is incorrect to say that you are the owner of the card.
On the contrary, if you open an account with a bank, then you will be the owner of the account. , the bank does not have the right to refuse to open an account, the performance of transactions on which is stipulated by law and on the terms agreed by the parties. Also, under the bank account agreement, the bank undertakes to accept and credit funds received to the account opened for the client (account owner), to follow the client's orders to transfer and issue the corresponding amounts from the account and conduct other transactions on the account. At the same time, the bank can use the funds available on the account, guaranteeing the client's right to freely dispose of these funds.
All of the above operations can be carried out with a bank card. Actually, it is a convenient tool (key) for accessing money on a client's account (card account). What is the difference between a card and a card account.
Why does the account holder not become the owner of the card linked to the account?
Why is there such a discrepancy: the cardholder is the owner of the account to which the card is "tied", but is not the owner of the card itself, even if he pays a lot of money for its issue and annual maintenance? To be honest, the author of the article for some time could not formulate an answer to the question asked, but the answer surfaced suddenly.
It's that simple! Imagine buying a regular ballpoint pen. This is a product with which you can write or draw, it fulfills its main function 100% without any conventions. And if we buy a refrigerator, but we do not have electricity at home, or a car, but gasoline disappears at gas stations, finally, a cell phone without a SIM card. In all these cases, you will be the owners of these things, but the things by themselves, under the above restrictions, will be useless.
Similar analogies can be drawn with a bank card. It is not a "thing in itself". The card is just the very tip of the iceberg, which consists of many components (hardware and software) that allow all these endless bank payments (transactions) to go through. And the central link here is not a bank at all, but an international payment system (everyone knows Visa, MasterCard, etc.), which connects banks with each other and gives us the opportunity to pay anywhere in the world with money that lies on our card accounts in the bank. issuer. And the key element of any card is not the name of the bank, but the logo of the payment system, without which any card would not make much sense.
Without such international systems, banks would be forced to build the entire payment system (payment infrastructure) on their own, negotiating with each outlet to install their own POS terminal and other equipment there. In this case, the cash register would be inundated with terminals of various banks, and the cost of the card would certainly have increased significantly. If you familiarize yourself with the history of the emergence of the card, you will see how it all began without computer technology, and what an expensive pleasure it was.
A person cannot be its owner, since the card is part of a complex payment infrastructure, and without this “part of the iceberg” it becomes just a useless piece of plastic. That's when you terminate the agreement with the bank (in case the bank does not demand its card back, which it has every right to do), then you become the owner of a piece of plastic, the use of which, even on the fly, cannot be found.
