Thus, in accordance with Article 33 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities," relations between banks, as well as between banks and their clients, are carried out on the basis of agreements, unless otherwise provided by the legislation of the Republic of Kazakhstan.

Bank clients have the right to open bank accounts in other banks, notifying the creditor bank, unless otherwise provided by the legislation of the Republic of Kazakhstan.

A bank account agreement is a legal relationship that forms part of complex settlement obligations, where, alongside this contractual relationship, legal relations related to the execution of payments always arise.

According to Part 1 of Article 747 of the Civil Code of the Republic of Kazakhstan, under a bank account agreement, one party (the bank, an organization carrying out certain types of banking operations) undertakes to accept money received in favor of the other party (the client), to execute the client's orders for the transfer (issuance) of corresponding sums of money to the client or to third parties, and to provide other services stipulated by the bank account agreement.

When opening a bank account for a client or a person designated by them, for the purposes of accounting for the client's money in the bank (organization carrying out certain types of banking operations), an individual identification code is assigned to the client on terms agreed upon by the parties. The procedure for assigning and canceling a client's individual identification code, and for the bank (organization carrying out certain types of banking operations) to keep records of the client's money, is determined by the banking legislation of the Republic of Kazakhstan.

Bank accounts are divided into current and savings accounts for individuals and legal entities, separate subdivisions of legal entities, as well as correspondent accounts of banks.

A current account is a bank account opened by a bank for a client based on a bank account agreement, through which operations are performed related to:

1. ensuring the availability and use of the client's money by the bank;
2. receiving (crediting) money in favor of the client;
3. executing the client's order to transfer money in favor of third parties in the manner prescribed by the bank account agreement;
4. executing orders from third parties to debit the client's money on grounds provided for by legislative acts of the Republic of Kazakhstan and/or the agreement;
5. receiving cash from the client and issuing cash to them in the manner established by the bank account agreement;
6. paying remuneration in the amount and manner determined by the bank account agreement;
7. providing, at the client's request, information on the amount of the client's money in the bank and on transactions performed, in the manner prescribed by the bank account agreement;
8. carrying out other banking services for the client stipulated by the agreement, the legislation of the Republic of Kazakhstan, and business customs applied in banking practice.

A savings account is a bank account opened by a bank for a client based on a deposit agreement to perform operations related to:

1. ensuring the availability and use by the bank of money (deposit) belonging to the client;
2. receiving money from the client or third parties either in cash or non-cash form;
3. paying remuneration in the amount and manner determined by the deposit agreement;
4. returning money (deposit) to the client under the conditions stipulated by the deposit agreement and the laws of the Republic of Kazakhstan, including by transferring it to another bank account of the client;
5. executing orders from third parties to debit the client's money on grounds provided for by the laws of the Republic of Kazakhstan and/or the agreement.

A correspondent account is a bank account opened for a bank with another bank under a correspondent account agreement, through which banking operations of the bank and its clients are carried out.

Bank accounts may be opened and maintained both in tenge and in foreign currency. Legal entities and individuals have the right to open bank accounts in several banks, with mandatory written notification to all creditor banks within 10 days from the date of opening the bank account.

When opening a current or correspondent account under a bank account agreement, the bank undertakes to accept money received in favor of the client, to execute the client's orders for the transfer (issuance) of corresponding sums of money to the client or third parties, and to provide services stipulated by the bank account agreement.

A bank account agreement must contain the subject of the agreement, the client's taxpayer registration number as indicated in the document issued by the tax authority, the procedure for managing the money held in the bank, the terms of service provision by the bank, and the procedure for their payment.

A bank account agreement must be concluded in written form. Failure to comply with the written form of a bank account agreement renders the agreement void.

For the use of money held in the bank, the bank pays remuneration in the amount and manner determined by the agreement. For the use of money placed in a current bank account, no remuneration is paid. For the execution of non-cash payments and money transfers, the bank may pay income, determined by the bank account agreement, from the amount of non-cash payments and money transfers.

A bank account agreement is terminated upon the client's application at any time, unless otherwise provided by legislation or the agreement.

In the current period, the National Bank of the Republic of Kazakhstan, by its resolution dated December 31, 2025, introduced amendments to the Rules for Opening, Maintaining, and Closing Client Bank Accounts, as well as to the Rules for Making Non-Cash Payments and Money Transfers on the Territory of the Republic of Kazakhstan.

In particular, the requirements for opening a bank account by an individual have been clarified. Now, the client is obliged to submit an application confirming that the account being opened will not be used for operations related to entrepreneurial activity, activity under the special tax regime for the self-employed, notarial and legal practice, activity related to the execution of executive documents, as well as activity related to dispute resolution through mediation, unless expressly provided otherwise by the banking services agreement with the bank.

It has also been established that to open a current account, the client must submit to the bank a permit from the central authorized body for budget execution, in accordance with the procedures for treasury budget execution, treasury accounting, and monitoring.

The procedure for opening accounts by individuals for activities under the special tax regime for the self-employed is separately regulated: in this case, the client (a citizen of the Republic of Kazakhstan or an oralman) provides an identity document, as well as an application for opening an account for the self-employed using the special tax regime in accordance with Chapter 77 of the Tax Code of the Republic of Kazakhstan.

Furthermore, the Rules for Making Non-Cash Payments have been supplemented with a provision on grant financing for projects commercializing the results of scientific and scientific-technical activities. It is determined that a payment from a current account in the escrow account mode, opened in the name of the grant recipient, is made to the bank account of the counterparty based on an agreement between the parties.

These changes came into effect on January 11, 2026.

A bank account is not just a place to store money, but a tool for managing finances that must meet specific goals and requirements. It is important to carefully study agreements, monitor the movement of funds, and use modern control tools. Only in this case will a bank account become a reliable assistant in financial matters.

Saltanat MAMANOVA,

Master of Laws