![\"Quotation\"](\"https:\/\/kmp.ua\/wp-content\/uploads\/2016\/12\/Quotation.png\")
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formal\/legal approach: <\/strong>there is no provision either in the law or in the usual agreements on servicing current bank account stipulating the alienation of your funds in favor of the bank by means of accounting them on a current account opened with a bank. One cannot find any title transfer wording, or even transfer in trust provisions or orders while communicating with the bank regarding servicing your current bank account \u2013 unless you explicitly order the transfer of your money from your account to an account belonging to the bank. Even the wording \u2018transfer from account to account\u2019 is not logically correct, because the title is transferred from person to person, with due reflection in the accounts. Changes in accounts are just the registration of a transaction for the transfer of a virtual financial instrument.<\/p>\n There is no formal or common sense reason to stick to archaic image of the bank as the custodian of your money. This paradigm has sunk into oblivion, together with real money made of gold and silver \u2013 for better or worse. Today\u2019s currency is a virtual thing \u2013 even that of paper. There\u2019s no doubt that this ambiguous and non-transparent situation \u2013 is artificially supported by the banks in order to get profit from operating with your money, while not entitled to do so. The insolvency of a bank should not have any adverse effect on current accounts \u2013 which are simply a register kept by a bank, acting as the NBU\u2019s agent. Such a register is subject to transfer to another agent as it is. But such approach could hardly be supported by the NBU, which cares for the banks and their business first.<\/p>\n