According to new regulations, from July 1, cases of mistaken transfer to another person’s account can request the bank to block the recipient’s account.
That is the regulation in Decree No. 52/2024 recently issued regulations on non-cash payments; which regulates the opening and use of payment accounts as well as clearly states cases of payment account blockade. The above Decree takes effect from July 1, 2024.
According to the above decree, payment accounts are partially or completely blocked in the following cases:
Firstly, according to prior agreement between the payment account holder and the payment service provider or at the request of the account holder.
Second, when there is a decision or written request from a competent authority according to the provisions of Law;.
Third, when the payment service provider detects a mistake or error when mistakenly crediting the customer’s payment account or complying with the payment service provider’s request to refund money. remittance payment due to errors or errors compared to the payment order of the remitting party after crediting the customer’s payment account. The amount blocked on the payment account must not exceed the amount of error or error.
Fourth, when there is a request to block 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 the termination of payment account blockade is carried out: According to the written agreement between the payment account owner and the payment service provider; when there is a decision to end the blockade by a competent authority according to the provisions of Law; Errors and mistakes in money transfer payments have been resolved; when there is a request to end the blockade of all joint payment account holders or according to a prior written agreement between the payment service provider and the joint payment account holders.
The Decree clearly states that payment service providers, payment account owners and competent authorities if they illegally block payment accounts or request them to block payment accounts, causing damage to payment account owners. shall be responsible for compensation according to the provisions of Law.
In addition, the decree also clearly stipulates that payment account closure is carried out when: The payment account owner requests and has fully fulfilled the obligations related to the payment account; The owner of the payment account is an individual who dies or is declared dead; The organization with the payment account terminates its operation in accordance with the provisions of Law; The payment account owner violates prohibited acts on the payment account; cases under prior written agreement between the payment account holder and the payment service provider; Other cases as prescribed by Law.