In what cases will customers have their bank accounts frozen?

Decree No. 52/2024 of the Government regulating non-cash payments will take effect from July 1. It regulates the opening and use of bank accounts as well as clearly states cases where customers will have their payment accounts blocked.

Specifically, the bank account is partially or completely frozen according to the prior agreement between the payment account holder and the payment service provider or at the request of the account holder. The second is the case when there is a written decision or request from a competent authority as prescribed.

Customers' payment accounts will be blocked in some cases.

Third, when the payment service provider discovers a mistake or error when crediting the customer's account or performs a refund request from the money transfer payment service provider due to a mistake or error compared to the payment order of the remitter after crediting the customer's payment account. The amount blocked on the payment account must not exceed the amount of the mistake or error.

The fourth case is when there is a request for blocking by one of the joint payment account holders, unless there is a prior written agreement between the payment service provider and the joint payment account holders.

The Decree also stipulates that payment account holders are obliged to provide complete and truthful information and comply with regulations on opening, using, and authorizing the use of payment accounts and must ensure that there is enough money (Credit balance) in the account to execute the payment order (except in cases where there is an overdraft loan agreement with the payment service provider).

As for banks, their obligation is to fully and promptly execute valid payment orders of payment account holders. Banks have the right to refuse to execute payment orders of account holders when the payment order is invalid or there is a legal basis to determine that the account holder has violated prohibited acts as prescribed. In case of refusal to execute payment orders, banks must notify the payment account holders of the reasons for refusal.

Source: https://thanhnien.vn/khach-hang-se-bi-phong-toa-tai-khoan-ngan-hang-trong-nhung-truong-hop-nao-185240521112413963.htm