New regulations for mistaken money transfers from July 1

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This is a provision in Decree No. 52/2024, which has just been issued, regulating non-cash payments; which regulates the opening and use of payment accounts as well as clearly states cases of payment account freezing. The above Decree takes effect from July 1, 2024.

According to the above decree, a payment account's balance is 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 written decision or request from a competent authority as prescribed by law.

Third, when the payment service provider discovers an error or mistake when mistakenly crediting the customer's payment account or performs a refund request from the money transfer payment service provider due to an error or mistake compared to the payment order of the remitter after crediting the customer's payment account.

Fourth, 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.

Source: 6pm News on May 22, 2024

Source: https://truyenhinhthanhhoa.vn/quy-dinh-moi-khi-chuyen-tien-nham-tu-ngay-1-7-180240522153114239.htm