There are many types of bank accounts, but the most common is the payment account. With this account, users can transfer money, withdraw money... If the balance is less than 50,000 VND, the bank account will not be locked. The account will still be active for about 12 months.
However, at this time the account holder will not be able to pay for the service fees, so the utilities will be automatically canceled. The annual fee and account management fee of the card will still be deducted in negative. When the account is loaded with money, the system will automatically deduct the corresponding service fee.
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Problems that may occur when the bank account is under 50,000 VND
When the bank account balance is less than 50,000 VND, users may encounter the following problems:
Unable to make a transaction : When the bank account is below 50,000 VND (below the minimum balance required by the bank), the system will automatically display the message "Your account balance is not enough to make a transaction". At this time, the account owner will not be allowed to make any transactions until more money is added to the account.
Account maintenance fee : This fee will be collected when the account fails to maintain the minimum balance of VND 50,000 as required by the bank. This fee will range from VND 5,000 - VND 15,000/month/account (depending on the bank).
However, there are also some banks that offer this service without any conditions or charge monthly fees. Therefore, customers need to carefully check the bank's regulations to take note during use.
In what cases is a bank account locked?
Normally, banks will send an email to unilaterally lock the customer's account if one of the following violations occurs:
- Entering the wrong Smart Banking password 3 - 5 times in a row
- 0 VND account has not made any transactions continuously for 12 months.
- The bank detected illegal transactions.
When a bank account is locked, customers can contact the bank's hotline or go directly to the transaction counter, bringing identification documents including a valid CCCD/ID card/Passport to request to reopen the account.
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