Bank Clearing Limits on Payroll Savings Account Agreement as a Guarantee of Minimum Rights of the Financial Consumers Categorized as ‘Workers’. A Colombian Law Analysis

These are times where policies to spread the consumption of financial services are nume­rous. The increase in products like saving accounts and their access to populations with special helplessness conditions, such as workers, has hinted at the close link between them and the guarantee of basic rights such as information, minimum subsistence, timely wages payment, and the inalienability of labor rights.

With the review of the practices included by financial entities to apply the figure of com­pensation on saving account agreements, it is apparent the need for an analysis of these contractual relations. It bore the limits to the banks’ autonomy and contract freedom, where concepts such as the duty of information, standard contract, dominant position, and doctrine on unfair terms will contribute in the preservation of the contractual balance and the protection of the users’ rights.