How to handle closing a payment account but still have a balance in the account?

Clause 2, Article 12 of Decree No. 52/2024/ND-CP (effective from July 1, 2024) stipulates the handling of balances when closing payment accounts as follows:

a) Payment shall be made upon request of the payment account holder or pursuant to a prior agreement between the payment account holder and the payment service provider; in the event that the account holder is a person without civil act capacity, a person with difficulty in cognition or behavior control, or a person with limited civil act capacity, payment shall be made upon request of the legal representative or guardian in accordance with civil law provisions; or payment shall be made to the heir or legal heir representative in the event that the payment account holder is an individual who dies or is declared dead;

b) Payment according to the decision of the competent authority as prescribed by law;

c) Handle according to the provisions of law in cases where the legal beneficiary of the balance in the payment account has been notified but does not come to receive it.

Thus, the handling of balances when closing payment accounts from July 2024 is regulated as above.

Cases of payment account blocking from July 1, 2024

Decree No. 52/2024/ND-CP regulates the opening and use of bank accounts and specifies cases in which customers' payment accounts will be frozen.

Specifically, the bank account balance is partially or completely frozen according to a 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.

Third, when the payment service provider discovers a mistake or error when mistakenly crediting the customer's account or performs a request for a refund from the money transfer 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 in the payment account must not exceed the amount of the mistake or error (3).

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

Decree No. 52/2024/ND-CP stipulates that the termination of payment account blocking is carried out:

- According to written agreement between payment account holder and payment service provider;

- When there is a decision to end the blockade by a competent authority in accordance with the provisions of law;

- The errors and mistakes in money transfer payments specified in point 3 above have been resolved.

- Upon request to terminate the blockade by all joint payment account holders or upon prior written agreement between the payment service provider and the joint payment account holders.

The Decree clearly states that payment service providers, payment account holders and competent authorities, if they illegally block or request payment accounts to be blocked, causing damage to payment account holders, shall be responsible for compensation in accordance with the provisions of law.

In addition, Decree No. 52/2024/ND-CP also clearly stipulates that payment account closure is carried out when:

- The payment account owner has requested and fully performed all obligations related to the payment account;

- The payment account holder is an individual who has died or been declared dead;

- The organization has a payment account that has ceased operations in accordance with the provisions of law;

- The payment account owner violates the prohibited acts regarding payment accounts specified in Clause 5 and Clause 8, Article 8 of Decree 52/2024/ND-CP.

- Cases subject to prior written agreement between the payment account holder and the payment service provider;

- Other cases as prescribed by law.

The above regulations take effect from July 1, 2024.

Minh Hoa (t/h)

Source: https://www.nguoiduatin.vn/dong-tai-khoan-thanh-toan-ma-con-so-du-trong-tai-khoan-xu-ly-the-nao-a669252.html