Article 10. Suspension, termination of the Card
1. The Cardholder’s Card may be suspended or closed, invalidated and recovered by VPBank in following cases:
a) The Card has expired but no request of renewal is submitted by the Cardholder;
b) The Cardholder fails to make full Minimum Payment after 30 working days since the first due date over that Minimum Payment;
c) The Card is not activated within 10 months since its date of issuance in VPBank’s system. Such date of issuance in the system shall be determined and notified to the Cardholder by VPBank;
d) The Credit Limit is exceeded without VPBank consent;
e) The Cardholder violates regulations herein and/or regulations of VPBank/law/payment institutions related to the issuance and use of VPBank card. In this case, VPBank shall be exempted from liabilities for any harm to the Cardholder’s honor and prestige during the Card;
f) The Cardholder refuses to provide documents as prescribed by VPBank in periodically reassessing the Credit Limit;
g) Cases are related to card forgery and risk management;
h) At the request of the competent authorities or International Card Institutions on suspending the Card use;
i) At the request of the Cardholder;
j) VPBank cannot contact with the Client after notice is delivered to the Client in accordance with one of the methods hereunder;
k) The Cardholder is named in black list, warning list, list of anti-money laundering and anti-terrorism financing issued and/or recommended by the competent authorities and/or applied at VPBank;
l) Others under these General Terms and Conditions and VPBank’s regulations and the laws from time to time.
When the required conditions are satisfied and the Cardholder needs, VPBank will re-open the suspended Card for the Cardholder. Request may be initiated on the Timo Application or at any Timo customer care transaction outlets or calling Timo Care to support opening the Card in accordance with VPBank regulations from time to time.
a) VPBank is entitled to terminate the Card use in the following cases:
– After 90 working days from the first due date, if the Cardholder fails to make the Minimum Payment shown on the latest Statement, VPBank has the right to terminate the use of the Card and recover debt (including the concerned collaterals, if any).
– The Cardholder violates the regulations on credit issuance and Card use of VPBank, International Card Institutions or the laws.
– The Cardholder has arisen other overdue loans or others that are early withdrawn at VPBank or at other credit institutions;
– Documents and information provided by the Cardholder, the Guarantor (if any) are found to be inaccurate, untruthful and untrue.
– Cases related to forgery and risk management and/or regulations on anti-money laundering and anti- terrorism financing.
– At the request of the competent authorities or International Card Institutions on Card use.
– Cases that VPBank deemed to be necessary.
– At the request of the Cardholder.
– The Cardholder violates terms applicable to other loans offered by VPBank.
– The Cardholder dies, declared to be dead. VPBank cannot contact with the Client after a notice is delivered to the Client in accordance with one of the methods herein.
– Others under these General Terms and Conditions and regulations of VPBank and the laws from time to time.
b) The Cardholder may request the Card termination, provided that it fully meets the provisions of these General Terms and conditions and fulfills its financial obligations with VPBank as prescribed by the laws.
c) The card termination shall be effective and approved by VPBank only when the Cardholder has fully implemented his/her obligations and responsibilities to VPBank as follows:
– Termination of Card and Card Account shall be effective only when VPBank approves and performs card locking in the system. Accordingly, upon termination of the Card, VPBank shall be fully paid with entire outstanding balance (principal, interest, etc.), accruals (if any) and financial obligations related to the Card opening and use.
– The Card must be returned to VPBank and not used to make online, telephone-based or mail payment for the purchase of goods/services. Any transaction made by Card or PIN (whether by Cardholder or not) before the Card is returned to VPBank, the Cardholder is still responsible for paying for such transactions to VPBank.
– In case the Card is not returned, the Cardholder must pay for VPBank the lost card fee (if any) according to VPBank’s published regulations. At the same time, the Client is responsible for all outstanding debts initiated by the card after it is locked in the system.
– Notwithstanding the Cardholder’s request of Card termination, within 30 working days since the date of request and/or the date of card locking by VPBank, if the Cardholder’s Card Account is subject to transactions, the Cardholder shall be still responsible for paying for arisen transactions.