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Principles of Banking Law

Principles of Banking Law (3rd edn)

Sir Ross Cranston, Emilios Avgouleas, Kristin van Zwieten, Christopher Hare, and Theodor van Sante
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date: 03 October 2022

7. The Bank–Customer Relationshiplocked

7. The Bank–Customer Relationshiplocked

  • Ross Cranston, Ross CranstonProfessor of Law at the London School of Economics
  • Emilios Avgouleas, Emilios AvgouleasProfessor of International Banking Law and Finance at the University of Edinburgh; European Banking Authority Stakeholder Group
  • Kristin van Zweiten, Kristin van ZweitenClifford Chance Associate Professor of Law and Finance at Oxford University and a Fellow of Harris Manchester College
  • Theodor van SanteTheodor van SanteBarrister at 3 Verulam Building, Gray's Inn, London
  •  and Christoper HareChristoper HareTravers Smith Associate Professor of Corporate and Commercial Law at the University of Oxford and a Fellow of Somerville College

Abstract

This chapter focuses on the customer and the services which banks offer to customers. It begins by filling in some of the details about the customers of banks and modern banking services. In this context it gives attention to how the relationship between banks and their customers may be characterized as a matter of law. Contract emerges from this as the overarching feature of the relationship; thus, the second and third sections of the chapter discuss banking contracts and their regulation. The final section turns to a specific banking service, the taking of deposits. Historically this has been the core banking service, and deposit-taking has been central to any definition of banking.

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