The Central Bank has ordered banks to notify customers of the reasons for blocking accounts and cards.

The Central Bank of Russia (CBR) has ordered the country's banks to notify customers of the reasons for blocking bank cards and suspending account transactions. This was reported on the regulator's website on August 26.

"Bank customers who have had their account and card transactions suspended or access to remote banking services (for example, a mobile application) restricted should know on what basis this happened and what to do to restore service," the statement said.

It is noted that Russians do not always understand the reason for blocking cards and accounts due to insufficient explanation of these restrictions by financial organizations. The Central Bank also pointed out the need for banks to provide detailed information, based on federal law and in accordance with the norms of the decision to limit service.

In addition, banks should inform what actions citizens need to take to protect their rights and remove the imposed measures.

Transferred by the nose: banks began to deprive Russians of access to their money for months

What causes accounts to be blocked and why their defrosting sometimes takes up to six months?

On June 27, it was reported that the Central Bank issued recommendations to banks that required them to honestly and in detail inform customers about the conditions under which deposit agreements are drawn up and where to store savings, as well as monitor compliance with regulations. The regulator noted that they intend, if necessary, to develop amendments to laws or issue a special banking standard if financial organizations make deposits using unfair methods.

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