How to lock, close, cancel a bank account when necessary - Insurance Finances

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How to lock, close, and cancel a bank account when necessary is essential when customers lose their cards or have signs of information being leaked or stolen.

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Bank cards or ATM cards these days are no longer strange to every person from urban to rural areas and have gradually become an inseparable object of many people. From the ATM, customers can make payment transactions, transfer money, withdraw money... However, in the process of using it, because of subjective or objective customer information is exposed. When this is closed, locking the account is essential.

So how to lock, close, and cancel a bank account when necessary? Let's find out through the following article!

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When should I close or cancel my bank account?

When should I close or cancel my bank account?

There are many reasons for customers to close or cancel their bank accounts

• Lost card: The first thing to do when you lose your card is to call the bank hotline to cancel the card to ensure safety.
• Leaked information when making money transfer at ATM: While you pay or withdraw money at any ATM, if you discover that your card password is exposed, change your password immediately.
• When there is no need to use a bank ATM card, customers can also go to the transaction office/bank branch to cancel.
• Expired ATM card: If the customer card has expired, you should also cancel the card.
• Cancel the account when the customer owns too many accounts of one bank

Conditions for canceling and locking bank accounts

All banks support customers to cancel, close, and lock their accounts, but customers can easily cancel prepaid cards, but to cancel this card, customers need to ensure the following conditions:

• Pay off all previous credit card debt
• Pay all expenses incurred and maintained monthly.

How to lock, close, cancel a bank account when necessary

How to lock, close, cancel a bank account when necessary

There are many ways for customers to lock, close, and cancel their accounts. Here are the ways that customers can choose. Depending on the conditions and purposes that customers choose the most suitable way.

At the transaction office/bank branch

You can go directly to the bank to ask the teller to cancel or close the bank card.

The card cancellation procedure is also very simple, the bank staff will help customers with the card cancellation procedure. Customers only need to sign the paper at the request of the bank teller. However, it will take a long time to wait if the bank's transaction office is crowded.

At the ATM

At some ATM banks, there is an application to cancel the card and close the account. Therefore, before canceling the card, customers should call the bank switchboard to ask first. The limitation of this method is that it will be applied in case the customer still has an ATM card.

Call the banking hotline

If unfortunately you lose your card or have your information leaked, please call the switchboard immediately to close the card. At this time, the bank staff will support customers to lock their accounts quickly to protect their accounts.

Using Internet Banking/Mobile Banking

This is the fastest and most convenient way that customers can do when they want to lock and close their bank accounts. Customers only need to have a SmartPhone with Internet connection and register for Internet Banking/Mobile Banking at the bank to select the card lock function.

Besides, when there is a need, customers can reopen the card easily. However, when using e-banking services, customers will have to pay periodic fees according to the regulations of each bank.

Fees for cancellation, closing and locking of bank accounts

It is not desirable to cancel the account lockout. However, while using it, there is an emergency of locking and canceling the account to help customers preserve their assets. The fee that the customer must pay when canceling the account is:

• Within 12 months from the date of opening: 20,000 VND / account.
• Over 12 months from opening date: Free.

Can I use ATM card to close or cancel my bank account?

During the closing and cancellation of the bank account, it means that all transaction activities are interrupted. To continue using the customer, please follow the procedure to reopen the account in the following ways:

• Bank Transaction Office
• Contact the bank switchboard
• Open a bank account via Internet Banking.

Some notes when closing, locking, canceling accounts

The issues customers need to pay attention to when closing, locking and canceling accounts are:

• Be careful when canceling a credit card because the procedure is cumbersome and time consuming
• If you cancel the main credit card, it means that the secondary card will also be closed and locked.
• In case of card cancellation due to expiration, you can wait until the specified term.
• It is recommended to use up all accumulated bonus points before locking the card.
• When canceling the card, you should give the card back to the bank so that the bank can cancel the card
• When canceling, locking, and closing, there needs to be a compelling reason

So closing, locking, canceling the account is not too complicated. Therefore, to ensure safety, to help customers protect their assets in some emergencies such as card loss or information disclosure.

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