Tinkoff will return the money to a client who enriched himself on the difference in exchange rates

Financial Ombudsman in the areas of credit cooperation, the activities of credit institutions, pawnshops and non-state pension funds Tatyana Savitskaya obligated Tinkoff Bank to return to one of the clients the money that was written off from him for “unjust enrichment”. By this enrichment, the bank considered the income that this client received from the currency exchange.

On February 27, when converting the ruble into the pound, and from the pound into the dollar, the American currency could be purchased for about 88 rubles, then with direct conversion, the dollar exchange rate in Tinkoff was about 150 rubles.

Some Tinkoff clients contacted support asking if it was possible to carry out such a conversion and make money on it, to which the bank replied that operations were carried out at the market rate, and there were no violations in this. Despite this answer, Tinkoff subsequently recalculated the exchange rate and commission, as a result of which the accounts of clients who repeatedly carried out the conversion went into negative territory (in some cases by hundreds of thousands and tens of millions of rubles). Tinkoff considered that clients received “unjust enrichment”, which must be returned. At one of the clients, the write-off amount reached 23 million rubles.

In April, Tinkoff clients affected by this situation initiated legal proceedings. In total, more than 10 lawsuits were filed in different cities of the country. The “victims” also wrote complaints to the Central Bank, but he redirected them to the Ministry of Internal Affairs. Tinkoff said it plans to file counterclaims to recover debts from those customers who managed to withdraw money that is subject to a reverse write-off. He regards such actions as “damage caused to the bank in the course of these operations”, which “by virtue of Art. 1064 of the Civil Code of the Russian Federation is subject to compensation in full.