A deposit is money received from an individual by a credit institution for storage at a fixed percentage for a period of 1 month or more. The main difference between a deposit in favor of a third party from other deposits: until the third party to which the deposit is open has not exercised his rights as a depositor when personally contacting the bank, the client who opened a deposit and signed an agreement also has the right to carry out all operations provided for by the deposit.
- It is necessary to choose a credit organization (bank) that accepts deposits in favor of a third party.
- Come to the office of a credit institution in person with your passport.
- Determine a deposit that is convenient in terms of parameters: interest rate, term, initial amount, whether partial withdrawal is possible, replenishment.
- Make a deposit with a specialist.
When choosing a credit institution, you should pay attention to the fact that when making a deposit in favor of a third party, you may only need the full name of the third party; other credit institutions may additionally require passport data or a copy of the passport of a third party.
It is possible to open a deposit in favor of a third party for your minor child, in which case you may need a child's birth certificate.
The third party on whom the deposit is opened may not know about it. It is convenient to open such a deposit if the client who opened the deposit and the third party are in different cities and there is no other safer way to transfer funds.
