Cases of blocking bank accounts

According to Article 124 of the 2015 Civil Procedure Code, freezing a bank account, another credit institution or the State Treasury is a temporary emergency measure to meet the urgent needs of the parties, protect evidence, preserve assets to avoid irreparable damage or ensure enforcement of judgments.

The measure of account freezing is applied when, during the process of resolving a case, there is a basis to determine that the person who is obligated to own an account at a bank, other credit institution or the State Treasury, and at the same time, the application of this measure is necessary to ensure the resolution of the case or execution of the judgment.

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Illustration photo. Nam Khanh

Decree No. 52 on non-cash payments, effective from July 1, 2024, stipulates that payment accounts will have part or all of their balance frozen in the following specific cases:

By prior agreement between the account holder and the payment service provider. The account holder may also request to freeze the account to suspend transactions for a certain period of time;

According to the decision of a competent state agency, for example, an investigation agency may freeze an account to serve the investigation;

When detecting a mistake or error in mistakenly crediting a “Credit” to a customer’s payment account, or when making a request for a refund from a money transfer payment service provider due to a mistake or error compared to the original payment order, the payment service provider must credit the customer’s payment account. The amount blocked in the payment account must not exceed the amount that was mistaken or erroneous;

When requested by one of the joint payment account owners: This case only applies to joint payment accounts, owned by multiple people.

Regulations on termination of bank account freezing

Decree No. 52 stipulates the termination of payment account blocking as follows:

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

When there is a decision to end the blockade from a competent authority according to the provisions of law;

After handling errors and mistakes in money transfer payments;

Upon request for termination of the blockade from all joint payment account holders or upon prior written agreement between the payment service provider and the joint payment account holders.

Decree 52 also clearly states that payment service providers, payment account holders, and competent authorities who illegally block or request payment accounts and cause damage to account holders will be responsible for compensation according to the provisions of law.