Guy does to bank what banks usually do to other people

[satanboy]

The idea of beating the banks at their own game may seem like a rich joke, but Dmitry Agarkov, a 42-year-old Russian man, may have managed it. Unhappy with the terms of an unsolicited credit card offer he received from online bank Tinkoff Credit Systems, Agarkov scanned the document, wrote in his own terms and sent it through. The bank approved the contract without reading the amended fine print, unwittingly agreeing to a 0 percent interest rate, unlimited credit and no fees, as well as a stipulation that the bank pay steep fines for changing or canceling the contract.

Agarkov used the card for two years, but the bank ultimately canceled it and sued Agarkov for $1,363. The bank said he owed them charges, interest and late-payment fees. A court ruled that, because of the no-fee, no-interest stipulation Agarkov had written in, he owed only his unpaid $575 balance. Now Agarkov is suing the bank for $727,000 for not honoring the contract's terms, and the bank is hollering fraud. "They signed the documents without looking. They said what usually their borrowers say in court: 'We have not read it,'” Agarkov's lawyer said. The shoe's on the other foot now, eh?

LINK

 

[HavocXphere]

I doubt that will stick. I mean its pretty much the definition of dealing in bad faith.

Also - pretty sure modification (in SA) must be initialed by all.

 

[zamicro]

Ha ha. Good one!

I am sure it will be a binding contract and not fraud. If the bank signed it first and he then modified it before signing and sending it back, then it is fraud. But in this case the bank made him an offer. He modified the terms and thus made a counter offer. When the bank agreed, it meant they agreed to the new terms and conditions.

Lesson: Always read the fine print! Even if you think it is your own document.

 

[TJ99]

This guy is my hero.

 

[visrot]

Will not stand

 

[Shake&Bake]

Don't care - awesome dude

 

[The_Right_Honourable_Brit]

Good for the banks to have a taste of their own medicine...

 

[Ianf1]

I would love to sell to a bank. Charge them R18 fee for each invoice plus a credit review fee monthly account fee etc. Just see how they handle that and then use the same arguments back with them. But they don't buy my products.

 

[mercurial]

Well played, sir! Hope he gets away with it.

 

[Avenue]

Now the bank is laying criminal charges against him for fraud. I fail to see the difference between what he did and sticking fake barcodes on a product.

 

[killadoob]

Now the bank is laying criminal charges against him for fraud. I fail to see the difference between what he did and sticking fake barcodes on a product.

Well if we talk from a legal aspect what he did is fraud. Funny stuff but it's outright fraud.

 

[BandwidthAddict]

I'm not a lawyer and I don't know Russian law but he put in a counter offer which should be covered by contract law and thus is not fraud.

Covering a barcode with a barcode from a cheaper product is fraud and has nothing to do with contract law.

 

[SoulTax]

So well played. I really hope he gets away with it. Banks need a taste of their own medicine from time to time.

 

[Ockie]

I actually had a client do this to me once while I was still working in one of our shops. He came in to pick up the applciation form and said he will return with all the required docs I told him about. About two days later he shows up and hands me all his docs. Something catches my eye...it almost looks like the page has been damaged or if the page got wet cause there is something "shining through" from the back. I look ... and my gosh. This guy crossed out sections and made bubbles with amendments and filled in completely new sections and told us to refer to adendum this and adendum that.

I said to him ... Sir ... I am very sorry... but either you sign this contract as is wiht our terms and conditions or we will not accept this application and I will not even put it through our credit vetting. I gave him a new form and the next day he returned once more with a application form ...non scirbbled and nothing crossed out .... just as the Vodacom gods intended

Unfortunately ... even though we do not like it ... well ... a lot of the times anyway ... we live in free market society ... businesses can determine their rules and T&C's within the law of the land ... and it will be up to the end user to pick and choose which provider or business suits his needs. But hot damn ... can be a lot of work. I know this as consumer myself.

 

[DJ...]

Well if we talk from a legal aspect what he did is fraud. Funny stuff but it's outright fraud.

Can you explain how from a legal perspective he is committing fraud? Contract amendments are commonplace and covered by contract law. Acceptance implies acceptance of amendments made...

 

[|tera|]

I actually had a client do this to me once while I was still working in one of our shops. He came in to pick up the applciation form and said he will return with all the required docs I told him about. About two days later he shows up and hands me all his docs. Something catches my eye...it almost looks like the page has been damaged or if the page got wet cause there is something "shining through" from the back. I look ... and my gosh. This guy crossed out sections and made bubbles with amendments and filled in completely new sections and told us to refer to adendum this and adendum that.

I said to him ... Sir ... I am very sorry... but either you sign this contract as is wiht our terms and conditions or we will not accept this application and I will not even put it through our credit vetting. I gave him a new form and the next day he returned once more with a application form ...non scirbbled and nothing crossed out .... just as the Vodacom gods intended

Unfortunately ... even though we do not like it ... well ... a lot of the times anyway ... we live in free market society ... businesses can determine their rules and T&C's within the law of the land ... and it will be up to the end user to pick and choose which provider or business suits his needs. But hot damn ... can be a lot of work. I know this as consumer myself.

I also work in a certain "field" and we did it this year. Without saying too much, my boss did it on a contract for a service provider and made it clear to them that she is not accepting their terms for a certain service and won't be signing for it. She took a ruler and drew a line through it, signed next to it and signed the contract. I handed it into them like that and they accepted it. They don't have any recourse, lol. It was damn funny

 

[marine1]

Bet you he gets off
What a legend
Serves the bank right

 

[Ockie]

I also work in a certain "field" and we did it this year. Without saying too much, my boss did it on a contract for a service provider and made it clear to them that she is not accepting their terms for a certain service and won't be signing for it. She took a ruler and drew a line through it, signed next to it and signed the contract. I handed it into them like that and they accepted it. They don't have any recourse, lol. It was damn funny

Thats cool....if they accept it then fine. But I personally will not credit vet anyone on our system for example that have made amendments to the contract. Something goes wrong and that contract gets pulled from doc warehouse and linked back to me then fck that ****! Im outta here! lol

Also had a client last year that wanted to open a company account. With us ... it is standard that surety must be signed on behalf of the business. The director signed it ... but also crossed out sections etc. I said look....I will send it in to Vodacom to have a look at as I have put your vetting on the system already (he made no amendments to the contract itself) ... but once the credit manager sees this surety form form I am pretty sure they will have a issue with it. True as Bob... the next day I check back on the system and a note was made:

"Resubmit un-edited surety or set application to manual error status"

After a week the guy relented and signed the standard surety form.

 

[xrapidx]

Well if we talk from a legal aspect what he did is fraud. Funny stuff but it's outright fraud.

How?

 

[xrapidx]

I also work in a certain "field" and we did it this year. Without saying too much, my boss did it on a contract for a service provider and made it clear to them that she is not accepting their terms for a certain service and won't be signing for it. She took a ruler and drew a line through it, signed next to it and signed the contract. I handed it into them like that and they accepted it. They don't have any recourse, lol. It was damn funny

I've also do that with various agreements (home alarm, etc)