Article 5. Handling In Case Of Blocked, Closed, Temporary Locked of Spend Account and Cases of Changed of Customer’s Spend Account Status

1- At the time of VPBank’s payment of principal and interest of the Term Deposit, if the Customer’s Spend Account is closed, blocked, temporarily locked or changed in term of status for any reason, the Parties shall handle as follows:

  • In case the Spend Account is closed or temporarily locked or blocked or changed in term of status without being credited with the principal and interest of the Deposit amount into the Spend Account in accordance with VPBank’s regulations and/or provisions of the law: The entire principal and interest of the Deposit amount under the Term Deposit Agreement shall be managed by VPBank until the Customer and VPBank have any written agreement on the change of payment account information to receive the payment of principal and interest of the Deposit amount. .
  • In case the Spend Account is closed or temporarily locked or blocked or changed in term of status with permission of credit entry of the principal and interest of the Deposit amount into the Spend Account in accordance with VPBank’s regulations and/or provisions of the law: The entire principal and interest of the Deposit amount under the Term Deposit Agreement shall still be paid by VPBank to the Customer’s Spend Account.

2- During the time that VPBank manages the principal and interest of the Deposit amount as stipulated in Clause 1 of this Article, all the managed amounts shall not be subject to interest calculation and payment.