How is the temporary blocking of a bank account regulated?

Specifically:

1. The payment service provider shall temporarily lock the customer's payment account (temporarily suspend transactions) in part or in full the amount in the payment account upon written request from the account holder (or the account holder's legal representative) or upon prior written agreement between the account holder and the payment service provider, except for the case specified in Point c, Clause 1, Article 6 of this Circular.

2. Termination of temporary lock of payment account and processing of outgoing and incoming payment orders during the temporary lock period shall be carried out at the request of the payment account holder (or guardian, legal representative of the account holder) or according to the written agreement between the account holder and the payment service provider.

Temporarily blocking a bank account is often a security measure that users can use when they detect or suspect illegal intrusion into their account. Regulations on temporarily blocking a bank account depend on each bank and country, but basically, this process is often clearly regulated to protect the interests of customers as well as ensure the safety of the banking system.

If you want to temporarily block your bank account, the first thing to do is to contact the bank you are using the service with immediately. Most banks have a hotline or customer support center that operates 24/7 to handle emergency situations.

The process of temporarily blocking a bank account usually involves verifying the identity of the account holder to ensure that the request for temporary blocking is coming from the right account holder. After verification, the bank will temporarily block the account, preventing any withdrawals, transfers, or payments from that account.

Some banks also provide online account locking services via mobile applications or bank websites. This allows customers to quickly and conveniently lock their accounts without having to contact the bank directly.

Temporarily locking a bank account can be done in many different situations, such as when a customer loses their ATM card, discovers unusual transactions on their account, or suspects that their account has been hacked. In addition, if you plan to travel or work for a long time and do not want to use your account, you can also ask the bank to temporarily lock your account to ensure safety.

Once your account has been temporarily locked, you will need to work with your bank to resolve any issues and determine when to unlock your account. The account unlocking process typically involves verifying your identity and checking transactions made during the time your account was temporarily locked to ensure there has been no unauthorized access.

Cong Hieu (synthesis)

Source: https://vtcnews.vn/tam-khoa-tai-khoan-ngan-hang-duoc-quy-dinh-ra-sao-ar904346.html