Banks permitted to block accounts receiving mistaken transfers

May 23, 2024 - 13:59

From July 1, banks are permitted to block accounts receiving mistaken transfers if they are asked to by the account holders who have made the mistaken transfers.

From July 1, banks are permitted to block accounts receiving mistaken transfers under request from account holders who have had the mistaken transfers. — Photo chinhphu.vn

HÀ NỘI — From July 1, banks are permitted to block accounts receiving mistaken transfers if payment account holders ask them to.

This content is regulated in Decree No 52/2024 on regulations on non-cash payments issued in May 15.

Banks will also be permitted to block accounts following requests from competent authorities or payment service providers.

Either of the joint payment account holders can make such a request.

The decree also regulates compensation payments to service providers, account owners and competent authorities, if they illegally block payments or illegally ask for bank accounts to be blocked and the account holders suffer any financial damage. — VNS

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