Tinkoff Bank has won at least 20 legal disputes against customers who made profitable transactions in the currency application in the face of the sharp fall in the ruble exchange rate at the beginning of 2022. In this respect he is writing RBC is based on analysis of court decisions.
After a successful currency conversion, Tinkoff customers were faced with the fact that in mid-March last year the bank began to block their accounts and wipe money. The bank said this was due to a malfunction in the algorithm used to calculate cross-currency rates, adding that it is illegal to earn in this way. Against the customers who get rich in this way. allegations have been made.
Court rulings alongside Tinkoff stated that “the large number of actions taken by customers to purchase foreign currency in a short period of time was not intended to convert currency, which was the purpose of the operations stipulated by the agreement”, but to profit from the exchange rate difference due to Bank error.
Dmitry Butryakov, representative of the investor group, confirmed to the publication that the credit institution has won at least 20 cases against customers to date. However, judicial practices on this subject differ; Previously, investors had won nearly 30 lawsuits against the bank. In 2023, the courts began to side with the bank.
In February and March last year, the bank’s customers were able to profitably exchange the ruble for the dollar and the euro through the inter-conversion of the British pound. knowledgeable Forbes cited a comment by trader Alexander Simonov. Thus, on February 27 it was possible to buy dollars at a rate of about 88 rubles, while with direct conversion of Russian currency to American currency through the application, 1 dollar cost about 150 rubles, and on the Moscow Stock Exchange this rate reached 109 rubles. Many customers bought dollars this way and sold them the next day for 105 rubles, making a 20% profit. Simonov noted that many customers of the bank do this.
Formerly socialbites.ca saidIt will help stabilize the ruble exchange rate.