Chương 2 Nghị định 101/2012/NĐ-CP: Mở và sử dụng tài khoản thanh toán

Chapter 2.

OPENING AND USING PAYMENT ACCOUNTS

Article 7. Opening and using payment accounts

The payment accounts must be opened and used under contracts signed by relevant parties, specifying the rights and obligations of the parties in accordance with law.

Article 8. Opening and using payment accounts of the State bank

1. The State bank shall open payment accounts for State Treasuries, credit institutions, and branches of foreign banks as prescribed in Clause 2 and Clause 3 Article 27 of the Law on the State bank of Vietnam, and Article 101, Article 109, Article 114, Clause 4d Article 118, and Article 121 of the Law on credit institutions.

2. The State bank shall open payment accounts for State Banks of other countries, foreign banks, international monetary institutions, and international banks in accordance with the International Agreements to which Vietnam is a signatory. In case Vietnam is not a signatory, the payment accounts shall be opened in accordance with the Prime Minister’s decisions.

3. The State bank shall opens payment accounts at State Banks of other countries, open payment accounts and make payments overseas in accordance with the International Agreements to which Vietnam is a signatory.

Article 9. Opening and using payment accounts among credit institutions

1. Payment accounts among credit institutions must be opened and used in accordance with the Law on credit institutions. The payment accounts among credit institutions only serve the payment, not other purposes.

2. The State bank shall allow banks and branches of foreign banks that engage in the foreign currencies market to open payment accounts in foreign currencies. The payment accounts in foreign currencies must be opened and used in accordance with laws on foreign currencies.

Article 10. Opening and using payment accounts for organizations and individuals that are not credit institutions

1. Banks and branches of foreign banks shall guides clients to open payment accounts in accordance with the regulations of the State bank and other relevant laws.

2. The account openers being individuals must be capable of civil acts; or people at the age of 15 to under 18 that have their own property. Minors must open payment accounts with their guardians as prescribed by law.

3. Shared payment accounts are payment accounts undersigned by at least two subjects.. Owners of shared payment accounts are organizations or individuals. The use purposes of shared payment accounts, rights and obligations of owners of shared payment accounts and the regulations on the use of shared accounts must be specified in writing.

Article 11. Using and authorizing the use of payment accounts

1. Account owners may use their payment accounts for crediting, withdrawing cash, and request the providers of payment services to make legitimate payment.  Account owners are entitled to request providers of payment services to provide information about the transactions and the balance of their payment accounts.

2. Account owners may authorize other people in writing to use payment accounts as prescribed by law.

3. Account owners must comply with the regulations on opening and using payment accounts of providers of payment services, and have enough money in their payment accounts to execute the payment order, unless otherwise agreed with providers of payment services.

4. Providers of payment services must promptly and completely execute the valid payment orders of account owners.

5. Providers of payment services are entitled to refuse invalid payment orders of account owners, or there is not enough money in payment accounts, unless otherwise agreed. The providers of payment services must immediately explain their refusal to account owners.

Article 12. Suspending and blocking payment accounts

1. A payment account shall be partly or totally suspended when the at the request of the account owner or as agreed by the account owners and the provider of payment services.

2. A payment account shall be partly or totally blocked in the following cases:

a) Competent agencies requests in writing as prescribed by law;

b) The provider of non-cash payment intermediary services finds mistakes during the money transfer;

c) When the provider of payment services detects signs of fraud and violations of laws on payment;

d) There are disputes over shared payment account owners.

3. The payment account is blocked upon the decision of the competent agency as prescribed by law, or the disputes prescribed in Clause 2 this Article are settled.

4. If the payment account is illegally blocked and cause damage to the account owner, the party that make the order to block such account must pay compensation as prescribed by law.

Article 13. Closing payment accounts

1. A payment account is closed when:

a) The account owner requests, and has fulfilled the obligations related to the payment account;

b) The account owner being an individual is dead, lost, or incapable of civil acts;

c) The organization that has the payment account is shut down as prescribed by law;

d) The account owner violates the contract to open and use the payment account signed with the providers of payment services;

dd) The account owner or the provider of payment services violates Article 6 of this Decree and other laws on payment;

e) Other cases as prescribed by law.

2. When closing payment accounts, the remainder shall:

a) Paid at the request of the account owner or their heir, the legal representative of the heir in case the account owner being an individual is dead, lost, or at the request of the legal guardian in case the account owner being a individual is not capable of civil acts;

b) Be paid under the Court’s Decision;

c) Settled as prescribed by law in case the beneficiary of the remainder in the account does not come to take if after being informed.