Is a Bank Account Property Protected by Section 25 of the Constitution? A Constitutional and Doctrinal Analysis
Résumé
In the digital age access to the financial system, gauged primarily by having a bank account, has become fundamental to modern life. The act of opening a bank account establishes a legal relationship between the client and the bank, raising critical questions about the nature and ownership of the account itself. The purpose of this article is to interrogate the legal status of a bank account: What constitutes a bank account and who owns it - the bank or the account holder? The analysis is framed within the context of section 25 of the Constitution, which protects against the arbitrary deprivation and unlawful expropriation of property. The article examines the constitutional meaning of "property" and whether a bank account qualifies for protection under this provision. Central to the inquiry is whether the unilateral closure of a bank account by a bank constitutes an arbitrary deprivation. Notably, the focus is not on the funds credited to the account, which are legally recognised as the property of the bank, but on the bank account itself as a potential property interest. By exploring this area, the article contributes to the broader discourse on financial inclusion, property rights and constitutional protections in a technologically evolving society.
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