Author: Igor V. Kovalenin

Abstract:

The study aims to distinguish between the concepts “banking transaction” and “banking operation”. The identification of the former with the latter and/or misinterpretation of these concepts leads to violation of scientific basis of the concept “banking services to clients”. The paper presents the arguments in favour of a narrower approach to the essence of banking service, which implies only technological actions for carrying out transactions and corresponding operations. The paper proves that the banking service represents actions of credit institutions, targeted at providing services to a customer that continue to take place even after the bank stops the current customer service. The author emphasizes the incorrect separation of the above-mentioned concepts on the legal grounds and points to the fact that this separation is reflected in historically transient evaluation methods, banking practices and traditions, and the fallacy of such positions has hardly been scientifically questioned.

Keywords: banking service; banking operations; banking transactions; outsourcing.