1.1 Bank (VIB): Vietnam International Commercial Joint Stock Bank

1.2 Customer/ Account Owner: An individual or individuals who register to open and use a Current Account at VIB and are approved by VIB by signing an agreement for the opening and use of an individual Current Account.

1.3 SmartSales App: This is a specially designed application for use on smartphones or tablets exclusively for VIB staff to provide VIB products and services to customers.

1.4 Method of Customer Identity Verification

KYC (Know Your Customer) Method refers to the method of customer identification and verification conducted in person at a VIB branch/transaction office or another location as stipulated by VIB, where VIB or a VIB-authorized intermediary¹ directly meets and verifies the identity of the customer and the legal representative (if the account is opened through a legal representative).

eKYC (Electronic Know Your Customer) Method: refers to the method of customer identification and verification conducted via VIB’s online channels, including electronic banking applications, or through the online platforms of VIB’s authorized intermediaries.

1.5 Biometric information: Biometrics are the physical attributes, unique and stable biological characteristics of a person to identify and distinguish one person from another. Biometric information includes: facial image, fingerprint, iris, DNA, voice.

1.6 Change information

- Change personal information of Customer/ Customer's legal representative:

(1) Requests for changes to Customer or Legal Representative information (including but not limited to changes to Citizen Identification Card/ Identification Card / Passport² , phone number, permanent address, current residential address, full name, etc.) and changes to the Account Name (applicable only in cases where the customer changes their surname, given name, or middle name as per an official document issued by a competent authority) shall be carried out at VIB branches/transaction offices or via VIB’s transaction channels, in accordance with regulations applicable from time to time.

(2) For joint accounts, if one of the joint account holders (type “AND” and type “OR”) changes personal information at VIB, this joint account holder must be responsible for notifying the remaining joint account holders. VIB is exempted from responsibility for any problems or disputes arising from the change of personal information of the joint account holder.

For accounts opened via the eKYC method, customers are allowed to switch the method of customer identification and verification to the KYC method.

1.7 FATCA: FATCA is a tax compliance law for account holders of accounts opened outside the United States. FATCA was enacted by the United States Government, aiming to prevent tax evasion by US income tax payers through financial accounts opened at financial institutions outside the United States.

- Subjects required to report to the United States: Account Holders who are US citizens, US residents (for tax purposes), and Recalcitrant Account Holders (Account Holders who refuse to provide information).

- US Citizen: A person who holds a US passport.

- US Residents:Subjects who satisfy one of the two following conditions at the time of signing the application to open and use an account at VIB:

+ (1) Have a valid U.S. green card; or
+ (2) Foreign individuals whose stay in the United States meets both of the following conditions (calculated by calendar year):

• (2.1) At least 31 days in the current year; and
• (2.2) At least 183 days in a period of 03 consecutive years, including the current year and the 02 previous consecutive years, in which 183 days is the total of:
  (i)All days spent in the United States during the current year (year N); and
  (ii) 1/3 of the number of days spent in the United States during the first year immediately preceding the current year (year N-1); and
  (iii) 1/6 of the number of days spent in the United States during the second year immediately preceding the current year (year N-2).

For details see here

- Signs of the United States:

+ US citizen;

+ US resident (for tax purposes);

+ Place of birth in the United States;

+ Contact phone number in the United States;

+ Residence or mailing address in the United States;

+ A "mail receipt on behalf" or "mail keeping" address in the United States;

+ A periodic order of money transfer to an account maintained within the US territory or receive a regular instruction from a US address;

+ A valid power of attorney or signing authorization application is issued to a person with address in the United States related to Customer's account.

1.8 Legal Agreement: A legal agreement is an agreement in the form of a trust or other form of similar nature established under foreign law, allowing the trustee to receive the transfer of legal ownership of assets from the trustor to operate, manage, and supervise the assets for the benefit of the beneficiary or for the purpose specified in the agreement.

1.9 Beneficial Owner: The beneficial owner is an individual who has actual ownership of one or more assets, has the right to control the customer to conduct transactions related to the assets for this individual; is an individual who has the right to control a legal entity or a legal agreement. In case the customer opens an account, the beneficial owner is the individual who actually owns the account or controls the activities of that account of the customer.

1.10 Foreign individuals with political influence: Is a person holding a senior position in foreign agencies, organizations and international organizations.

1.11 Persons related to Foreign Individuals with Political Influence

Include:

- Father, mother, wife, husband, son/daughter, brothers, sisters, and siblings of foreign individuals with political influence;

- Co-ownership with a foreign individual with political influence of one or more legal entities, legal agreements;

- Ownership by one or more legal entities, legal agreements Foreign individuals with political influence own.

1.12 Law or regulation of law: Are the legal provisions of the Socialist Republic of Vietnam (Vietnam) or any international treaty to which Vietnam is a member, or any jurisdiction where Vietnam has signed an agreement relating to commercial activities with an organization established and operating in that jurisdiction (provided that such application does not contravene the fundamental principles of Vietnamese law).

1.13 Current Account 

Is a Current Account with only one individual opening the account (individual account) or Current Account with at least 02 (two) and maximum 05 (five) individuals jointly opening the account (joint account) in Vietnamese Dong or foreign currency, opened at VIB.

- Joint account type “AND”: This type of account requires all joint account holders to be present and sign documents when performing any transaction related to this joint account.

- Joint account type "OR": This is an account type that allows one of the Joint Account Holders to independently conduct transactions and sign transaction documents related to the Joint Account at VIB, without requiring the remaining Joint Account Holders to sign to confirm the transaction.

- Account 1 (one) owner account that has been opened cannot be converted to a joint account and vice versa.

1.14 Account Name: The customer's full name at the time of opening based on the name information on the valid and effective Citizen Identification Card/ Identification Card / Passport or the new full name when Customers change their last name/ first name/ middle name according to documents from competent authorities.

1.15 Balance: Balance is the actual amount at each point in time in the account.

- The minimum balance of the account is the minimum amount that must be maintained in the account at all times and the account must have the minimum balance by the end of the day the account is opened. The customer is responsible for maintaining the minimum balance at all times according to VIB's regulations from time to time.
Minimum balance is determined according to each type of account that the customer registers to open and according to VIB's regulations from time to time.

- The available balance is the amount that the Customer is allowed to use to withdraw money, transfer money, make payment orders from the Account , and use other legal payment services through the Account . The available balance is the credit balance (excluding overdraft limit) after deducting blocked amounts, due and overdue debts, interest, arising costs and other financial obligations of the Customer to VIB according to the prior written agreement between the Customer and VIB, and the minimum balance of the Account.

1.16 Account Number: Account number is a series of numbers randomly generated by the VIB system or selected by the customer upon request.

1.17 Account blockade: Is the account balance being partially or completely blocked.

1.18 Transaction Delay: VIB does not make transactions on the Customer's account for at most 03 working days from the date of starting to apply this measure.

1.19 Close account: VIB terminates the use of the customer's account and closes the customer's account file.

1.20 Interest rates and interest payment principles

- The interest rate applied to the account balance is the non-term deposit interest rate applied to the account announced by VIB on the website www.vib.com.vn or any transaction location of VIB, in accordance with the provisions of law.

- Interest rates are quoted annually. A year is calculated on a 365 day basis.

- The interest payment currency is the same currency as the account being calculated.

- Interest is paid directly into the account at the closing date ( the time when all transactions are recorded on the VIB system to transfer data to a new date according to VIB's regulations from time to time) of the last working day of the month or at the time of closing the account. Interest is rounded to the nearest unit for Vietnamese Dong and rounded to the second decimal place for foreign currencies.

1.21 Fee

- Account opening fee, account management fee, account transaction fee, account information provision fee and other related fees according to the fee schedule announced and publicly posted by VIB from time to time on the website www.vib.com.vn or at VIB's transaction locations.

- The amount of account opening fee selected by the Customer as requested will be automatically blocked by VIB on the Customer's account from the date of account opening until VIB completes the fee collection or when the account is closed, whichever comes first.

- Fees collected on the account are in the same currency as the account.

- VIB has the full right to change the service fee schedule at any time that VIB deems appropriate ("Amended Service Fee Schedule"). VIB will notify the Customer in one of the following forms: (i) sending a written notice or email or SMS/message via the service system (Zalo, Viber, or other forms of notification as decided by VIB) to the address/email/phone number that the Customer has registered with VIB or (ii) posting at VIB's transaction locations, or (iii) displaying, publicly announcing on VIB's website, or (iv) in another form decided by VIB that is not contrary to the law. In case the Customer has registered an email and/or phone number with VIB, VIB still has the full right to proactively choose one of the forms of notification that VIB deems appropriate to notify the Customer other than sending an email or SMS.

- The Amended Service Fee Schedule will take effect from the date stated in VIB's notice.

- If the Customer does not agree with this Revised Service Fee Schedule, the Customer may terminate the use of the service within 10 days from the date of notification by VIB. In case the Customer does not terminate the use of the service, the Customer confirms and agrees that: The Customer will be deemed to have accepted this Revised Service Fee Schedule.

Account information lookup

• Account information can be looked up via the account balance change notification service via SMS banking, e-banking, at VIB branches/transaction offices and 24/7 Customer Service Center: 19002200
• Account information lookup activities requiring VIB confirmation may be charged according to VIB's fee schedule published on the website or at VIB's transaction locations.

4.1 Transaction limit

• (i) For customers: People under 15 years old, people who have lost/limited civil capacity, people with difficulty in cognition and behavior control according to the provisions of Vietnamese law; or people with disabilities who cannot read/sign:
  • At VIB Branches/Transaction Offices: Account transaction limit is not limited and does not exceed the balance allowed to be used on the account;
  • Transactions via domestic/international debit cards and e-Banking are not allowed.
• (ii) For customers who are from 15 years old to under 18 years old, do not lose/ have limited civil capacity or do not have difficulty in cognition or behavior control according to the provisions of Vietnamese law:
  • At VIB Branches/Transaction Offices: Account transaction limit is not limited and does not exceed the balance allowed to be used on the account;
  • Domestic and international debit cards: Account transaction limits are implemented according to VIB's card product regulations effective from time to time.
  • Via E-Banking: Account transaction limit is 100 million VND/day.
• (iii) For customers who are 18 years of age or older, do not lose/have limited civil capacity or do not have difficulty in cognition or behavior control according to the provisions of Vietnamese law:
  • At VIB Branches/Transaction Offices: Account transaction limit is not limited and does not exceed the balance allowed to be used on the account;
  • Domestic and international debit cards: Account transaction limits are implemented according to VIB's card product regulations effective from time to time.
  • Via E-banking: Account transaction limits are implemented according to VIB's E-banking regulations effective from time to time.

4.2 Scope of use

Types of transactions that customers are allowed to perform on their accounts include:

• Cash deposit transaction into account;
• Money transfer (transfer) transaction into account;
• Cash withdrawal transaction from account;
• Money transfer transaction (transfer) from account:
  • Scheduled transfers;
  • Transfer money one time.
• Provide payment services via accounts such as: using payment instruments, performing payment services by check, payment order, payment authorization, collection, collection authorization, bank card, money transfer, collection, payment and other value-added services in accordance with current laws.
• In cases where transactions are made by electronic means as stipulated in these Terms and Conditions: withdrawals and payment transactions by electronic means on the account can only be made when the verification of the Customer's Identity Document and biometric information with the biometric data stored in the encrypted information storage of the Customer's Citizen Identification Card/ Identification Card has been accurately authenticated as issued by the Public Security Agency (for Customers who are Vietnamese citizens) or the biometric data has been collected through a face-to-face meeting with the Customer (for Customers who are foreigners) has been completed.
• Payment and withdrawal transactions can only be made on the account in cases where the Customer's Identity Documents and the Customer's Legal Documents (if any) are still valid and within the expiration date.

4.3 Notice and provide information FATCA 

• Customers need to provide information and supporting documents upon request from VIB according to VIB's regulations from time to time and legal regulations for FATCA compliance purposes.
• Customers are responsible for the accuracy and completeness of information provided to VIB.
• The Customer agrees that: in case the Customer cannot provide documents related to taxes or tax exemption documents or cannot explain and prove that the Customer is not a US taxpayer despite having signs of identifying the US, the Customer will be considered as (i) a US citizen, or (ii) the Account Owner is against (the Account Owner refuses to provide information), and VIB will have the right to automatically deduct 30% on deductible payments originating from the US.
• Customers identified as US Reportable Entities agree to allow VIB to proactively report information about their accounts opened at VIB to the US Internal Revenue Service (IRS) at the request of the IRS or competent authorities under the agreement between the IRS and the Vietnamese Government.

4.4 Authorization in using account

• For Individual Account/ Joint Account “AND”: The Account Holder is allowed to authorize under the following conditions:
  • (1) The account holder has had the work completed by VIB/ VIB's intermediary verify customer identification information KYC authentication; and
  • (2) The account holder sends VIB an authorization document with documents, information, and data as prescribed by VIB to verify the identification information of the individual who is the authorized person; and
  • (3) The authorized person has rights and responsibilities within the scope of authorization of the Account Owner and may not re-authorize to a third party; and
  • (4) The time of authorization must not be before the time of account opening; and
  • (5) The Account Holder and the Authorized Person must be 15 years of age or older, not have lost/limited civil capacity, have no difficulty in cognition or behavior control according to the provisions of Vietnamese law; be Vietnamese citizens or foreigners and be residents or non-residents; and
  • (6) Transaction conditions on the Authorized Person's Account will comply with the regulations applicable to the Account Owner who performs the authorization;
• Authorization documents are only accepted by VIB when:
  • (1) The authorization document must be made in writing according to VIB's form, executed at VIB in the presence of the Account Holder/all joint Account Holders, the authorized person, VIB and confirmed by VIB; or
  • (2) The authorization document must be made in writing with full signatures of the Account Owner (if it is an individual account)/ all joint account owners (if it is a joint account), and the authorized person and notarized/ certified by a competent state agency for notarization/ certification or a notary practice organization, in accordance with the provisions of law on authorization, and the authorizer has authenticated this authorization transaction via VIB's 24/7 Customer Service Center: 19002200 and the authorized person has directly authenticated this authorization transaction at VIB.
• The account owner may authorize another person to use the account for each transaction or for a limited period of time; authorize part or all of his/her rights in accordance with the provisions of law;
• For “AND” joint accounts: each joint account holder can authorize another person (including the remaining joint account holder) to use the joint account on his/her behalf, but must obtain written consent from all remaining joint account holders;
• Joint account type “OR”: Authorization transactions are not allowed, including authorization between joint account holders or joint account holders for other individuals.
• In case the authorization document to use the account has been notarized/ certified, the authorizer and the authorized person commit to cancel the notarized/ certified authorization document in accordance with the provisions of law in each period after signing the request to cancel the authorization to use the account.

4.5 Use joint account

• Joint Account Holders have equal rights and obligations to the Joint Account. The use of the Joint Account must be approved by the Joint Account Holders regarding the assignment of transaction authority to the Joint Account Holders of the "AND" or "OR" type, and must comply with the commitments and agreements in the Application for opening and using a joint Current Account for individual customers.
• Each Joint Account Holder shall be responsible for paying all debts arising from the use of the Joint Account and shall bear all responsibilities in the use of that Joint Account. VIB is exempted from responsibility for all issues arising from/and/or related to the agreement, management and use of the Joint Account between Joint Account Holders.
• VIB's notice regarding the use of a joint account for one Account Holder is deemed to have been notified to all other joint Account Holders.
• Joint account “AND” does not allow transactions via domestic/ international debit cards and via electronic banking channels, and does not allow the use of SMS Banking services.
• Joint account type “OR” does not allow transactions via domestic/ international debit cards and does not allow the use of SMS Banking service.
• When one of the joint account holders dies, is declared dead, is declared missing, or loses civil act capacity, the use of the joint account and the rights and obligations arising from the joint account shall be resolved in accordance with the provisions of law.

4.6 Using accounts of people under 15 years old, people who have lost/limited civil capacity, people with difficulty in cognition, behavior control at the time of opening an account and have changed status during the process of using the account

• Do not allow using the account via electronic banking channels.
• The use of an account by an individual under 15 years of age, a person who has lost/limited civil capacity, or a person with difficulty in cognition or behavior control must be done through a legal representative.
• The legal representative conducts transactions through the account of the person he/she represents in accordance with the provisions of civil law on representation.
• Account owners are allowed to conduct transactions on their accounts in the following cases:
  • The Account Holder is 15 years of age or older and is not restricted or has no loss of civil act capacity or has no difficulty in cognition or behavior control according to the provisions of Vietnamese law (in case at the time of opening the Account, the Account Holder is under 15 years of age); or
  • The Account Holder provides a valid Court Decision confirming that the Account Holder no longer has lost/limited civil act capacity or no longer has difficulty in cognition or controlling behavior according to the provisions of Vietnamese law (in case at the time of opening the Account, the Account Holder has lost/limited civil act capacity or has difficulty in cognition or controlling behavior).
     

4.7 Using the account of a disabled person who cannot read/sign

• Do not allow using the account via electronic banking channels.
• The use of an account by a disabled person who cannot read/sign can only be done in the presence of a witness.

4.8 Transfer

Not applicable to account transfer transactions or transfer of rights and obligations arising from accounts.

4.9 Transaction Delay

VIB will delay transactions on the Customer's account in the following cases:

• When there is reason to suspect or detect that the Customer/ Customer 's authorized person/ individual or organization related to the transaction is on the Blacklist, the grounds include: 
  • (1) Customer/ Customer's authorized person/ individual or organization related to the transaction whose information completely matches the information of the individual or organization on the Blacklist.
  • (2) The Customer's/ the Customer's authorized person /the individual involved in the transaction has one of the following information groups: (i) full name, date of birth; or (ii) full name, year of birth, nationality; or (iii) full name, address; (iv) or name and address; or (v) name and passport number; or (vi) name and ID card number, citizen identification number or personal identification number that match the information of an individual on the Blacklist and based on the collected information, it is believed that the Customer's/ the Customer's authorized person/the individual is involved in terrorism, terrorist financing, proliferation and financing of proliferation of weapons of mass destruction.
  • (3) The organization involved in the transaction has one of the following information: transaction name, establishment license number, business registration number or tax code that matches the information of an organization on the Black List and based on the collected information, it is believed that the organization is involved in terrorism, terrorist financing, proliferation and financing of proliferation of weapons of mass destruction.
• When VIB has reason to believe that the requested transaction is related to criminal activities , including: transactions requested to be performed by a convicted person under the provisions of the criminal procedure law and the assets in the transaction are owned or originated from the ownership or control of that convicted person; transactions related to organizations or individuals performing acts related to terrorist financing crimes ; or
• When requested by competent state agencies as prescribed in relevant laws.
• Other cases according to VIB's regulations on customer identification and transactions in anti-money laundering and legal regulations in effect from time to time.

4.10 Termination of transaction delay

If after 03 working days from the date of starting to apply the transaction delay measure, VIB does not receive a written response from the competent state agency, VIB will terminate the transaction delay.

4.11 Account Blocking

VIB has the right to freeze part or all of the amount in the Customer's account in the following cases:

• (1) Upon request of the Customer/ Customer's authorized person established in writing at VIB's Branch/ Transaction Office or request via VIB's 24/7 Customer Service Call Center: 19002200. VIB refuses to block the account when the Customer has not fulfilled the payment obligation according to the enforcement decision of the competent state agency or has not fully paid the debts payable to VIB; or
• (2) When VIB discovers a mistake or error when mistakenly crediting the Customer's account or performs a refund request from the money transfer payment service provider due to a mistake or error compared to the payment order of the remitter after crediting the Customer's account. The amount of money blocked in the account shall not exceed the amount of the mistake or error; or
• (3) When there is a written request for freezing by one of the joint account holders, unless there is a prior written agreement between VIB and the joint account holders. VIB refuses to freeze the joint account when one of the joint account holders has not fulfilled the payment obligation according to the enforcement decision of the competent state agency or has not fully paid the debts payable to VIB; or
• (4) When VIB detects risks, errors or unusual signs in the process of opening and using the account; or
• (5) When VIB has grounds to suspect that the account is fraudulent or in violation of the law. Specifically:
  • VIB detects that the account has signs of suspected fraud, swindling, or law violations according to the Criteria for identifying accounts with signs of suspected fraud, swindling, or law violations according to VIB's regulations from time to time; or
  • VIB receives a written complaint from an organization/individual about the account showing signs of fraud or deception; or VIB has reasonable grounds to believe that: the account is/may be being used to conduct fraudulent, deceptive, counterfeit transactions, violate criminal law or other laws that cause damage to the legitimate rights and interests of VIB/Customer/Third Party; or
• (6) When there is a written decision or request from a competent authority as prescribed by law; or
• (7) Cases as agreed between the Customer and VIB:
  • (i) When the account does not generate any transactions (debit/credit) within 12 consecutive months ; or
  • (ii) When the Customer incurs debts (principal, interest, fees, penalties and other payables) and other financial obligations due or overdue at VIB according to the contracts agreements between VIB and the Customer. VIB shall freeze the Account Holder's Account from the payment due date; or
  • (iii) Other cases as agreed in writing between the Customer and VIB; 
• (8) Other cases as prescribed by VIB's regulations on customer identification and transactions in anti-money laundering and legal regulations in each period.

The amount of money frozen in the account is preserved and strictly controlled according to the content of the freeze . For the amount of money in the account that is not frozen, customers can transact normally.

Within 01 working day after blocking the account, VIB will send a notice of account blocking to the Customer or the Customer's authorized representative, stating the reason for blocking, the blocking period and the amount blocked, (except in the case (i) upon written request of a competent state agency requiring VIB not to notify the Customer, (ii) upon request of the Customer/person authorized by the Customer and (iii) upon prior written agreement between the Customer/person authorized by the Customer and VIB) . VIB will notify the Customer or the Customer's authorized representative in one of the following forms: sending a written notice or via SMS/message via the service system (Zalo/Viber/)/email to the address/phone number/email that the Customer or the Customer's authorized representative has registered with VIB or by other methods that VIB has the right to choose.

4.12 Termination of account blocking

VIB will terminate the account freeze when one of the following conditions is met:

• (1) Upon request to terminate the blockade by the Customer/ Customer's authorized person established in writing at VIB's Branch/ Transaction Office; or
• (2) VIB has resolved errors and mistakes in money transfer payments; or
• (3) When there is a written request to terminate the blockade from all joint account holders or by prior written agreement between VIB and the joint account holders; or
• (4) VIB has checked and concluded that there are no risks, errors or signs of abnormalities in the process of opening and using the account; or
• (5) When there is a written decision/conclusion from a competent state agency that the Account is not related to fraudulent/illegal acts or when VIB finds that: there are reasonable grounds to believe that the Account is/may be being used to conduct fraudulent transactions/violate criminal law or other violations of law that cause damage to the legitimate rights and interests of VIB/Customer/Third Party has been terminated; or
• (6) When there is a written decision to terminate the blockade by a competent state agency in accordance with the provisions of law; or
• (7) Other cases as agreed between the Customer and VIB:
  • (i) Upon the end of the blocking period as agreed in writing between the Customer/ Customer's authorized person and VIB; or
  • (ii) When the account generates a credit transaction in case the account is blocked due to no transactions (debit/credit) occurring within 12 consecutive months; or
  • (iii) When the Account Holder has completed payment of debts (principal, interest, fees, penalties and other payable amounts) and other financial obligations to VIB according to the contracts/agreements between VIB and the Customer; or
  • (iv) When the Account is being frozen at the request of the Customer/ authorized person of the Customer and (i) there is a request to withdraw money from the Account by a competent state agency in the enforcement of a decision on administrative sanctions, a decision on judgment enforcement, a decision on tax collection or to perform other payment obligations as prescribed by law or (ii) there is a request to withdraw money from the Account to perform the Customer's debt obligations to VIB , VIB shall proactively terminate the freezing of the Account to withdraw money at the written request of the competent state agency or to pay the debt obligations to VIB, after which VIB shall continue to freeze the Account in accordance with this regulation . VIB shall be exempted from all liability for complaints and claims of the Customer and/or third parties related to VIB's termination of the Account freezing to withdraw money at the decision of the competent state agency or to pay the debt to VIB .
• (8) Other cases according to VIB's regulations on customer identification and transactions in anti-money laundering and legal regulations in each period.

5.1 Account closing case

• The Customer/ Customer's authorized person/ Customer's authorized person has a written request according to VIB's current form and has fully performed obligations related to the account, including:
  • (1) All obligations of debts (principal, interest, fees, penalties and other payable amounts) of the Customer with VIB;
  • (2) Service fees related to the use and closing of the account;
  • (3) Other financial obligations of the Customer to VIB according to contracts/agreements between VIB and the Customer;
  • (4) Return all outstanding checks (if any) to VIB.
• Closing a joint account (type “AND” and type “OR”) must have the approval of all Account Holders.
• Account holder dies or is declared dead;
• The account owner violates the commitments or agreements in the Contract on opening and using the account with VIB;
• Account suspected of fraud or forgery, including the following cases:
  • (i) VIB detects risks, discrepancies or unusual signs between customer identification information and customer biometric factors and the notification deadline has passed but the customer has not gone to VIB's branch/transaction office to have customer identification information verified.
  • (ii) The Customer/ Customer's authorized person/ Customer's authorized person uses fake documents or impersonates to open or maintain an anonymous or impersonated account; uses the account for fraudulent purposes or other illegal activities such as: buying, selling, renting, leasing, borrowing, lending the account; stealing, colluding to steal, buy, sell account information;
  • (iii) The Customer /the Customer's authorized person/ the Customer's authorized person performs, organizes the performance of or facilitates the performance of the following acts: using, exploiting the Account to gamble, organize gambling, cheat, defraud, conduct illegal business and perform other illegal acts;
  • (iv) Customer information is not available or does not match information in the National Population Database.
• (i) The account balance is lower than the minimum balance prescribed at each time according to VIB's regulations from time to time and there are no credit/debit transactions within 36 consecutive months; and (ii) after deducting the fee, the remaining balance of the account is ≤ 0; and (iii) the Customer no longer has a valid Savings Book, Deposit Contract, or Deposit Certificate; and (iv) the account has never been assigned to collect a loan, or the account has been assigned to collect a loan and the loan has been settled ( hereinafter referred to as “inactive account”);
• The account is newly opened and has not had any credit/debit transactions within 365 consecutive days from the date of opening; 
• The account has the account number selected as requested and the account is not part of the salary account package as prescribed by VIB (Salary Account Package) but the account has not generated any transactions within 30 days from the date of account opening.
• The account number is selected as requested and VIB has not collected enough account opening fee for 6 consecutive months, the fee will be collected periodically on the 6th of each month starting from month T+2 (in which T is the month the account is opened ).
• Account opened before October 1, 2024 and the customer has not updated or supplemented documents, information, and data according to Article 12 of Circular 17/2024/TT-NHNN before January 1, 2026
• Other cases according to these Terms and Conditions and as prescribed by law.

5.2 Account closing procedures in cases where VIB performs at the request of the Customer/ Customer's legal representative/ Customer's authorized person or in case the Account Owner dies or is declared dead

Comply with VIB regulations from time to time.

5.3 Account closing procedure in case VIB proactively closes the account

Before closing an account for an inactive account/an account that has not had any transactions since the opening date, it is 10 days and for an account suspected of fraud or forgery, it is 05 days or after closing an account, it is 10 days for the remaining cases (except in cases where the law provides otherwise; or at the request of a competent state agency; or the Customer requests in writing), VIB will send a notice to the Customer/the Customer's legal representative about VIB proactively closing the Customer's account to the addresses/emails/phone numbers that the Customer/ the Customer's legal representative has registered with VIB with the following priority order:

• (1) Send email notification if the Customer/ Customer's legal representative of the Customer has registered an email address, or
• (2) Send text messages (SMS)/ messages via the service system if the Customer/ Customer's legal representative does not register an email address, or
• (3) Send written notice to the current registered residential address of the Customer/ Customer's legal representative if the Customer/ Customer's legal representative does not register an email address and/or telephone number.

Within the time limit stated in the notice to the Customer/Customer's legal representative, if the Customer/Customer's legal representative does not come to complete the account closing procedure, VIB will proactively perform:

• (1) Close the customer's account; and
• (2) Cancel the cards and products and services associated with that account; and
• (3) Process the remaining balance in the customer's account with the following priority order:
  • (i) Automatically deduct to pay due and overdue debts of the Customer with VIB, such as: unpaid loans and accrued interest, service fees related to the use and closing of the Customer's account with VIB, other financial obligations of the Customer with VIB; and
  • (ii) Payment according to the effective decision of the Court or of a competent state agency;
  • (iii) The remaining balance (if any) is managed at VIB's "Household money" account and no interest will be paid from the time of account closure. After 05 years from the time of account closure, if the Customer or the heir, heir representative or legal representative does not come to VIB to receive the remaining amount in the account, VIB is allowed to account for it as VIB's extraordinary income, in accordance with current legal regulations.

VIB will collect the account number and provide it to other customers on the following working days from the date VIB proactively closes the account in the following cases:

• (i) The account is not part of the Salary Account Package and the account has not had any transactions within 30 days from the date of account opening; or
• (ii) The current account does not have enough balance for VIB to collect the full account opening fee for 6 consecutive months periodically on the 6th of each month starting from month T+2 (in which T is the month the account is opened).

After the account is closed, if the customer wants to use the account, the customer must perform the procedure to open a new account.

6.1 Customer Rights

• Use of Allowed Balance on your account to make legal and valid payment orders.
• Select and agree to use payment methods, services and payment utilities provided by VIB.
• Authorize others to use the account according to the agreement in the Terms and Conditions, this clause is in accordance with the provisions of law on authorization.
• Require VIB to execute legal and valid payment orders.
• Request VIB to provide information about the account, transactions, and balance in the account according to the information lookup methods listed in these Terms and Conditions.
• Request VIB to freeze, unfreeze, close account when necessary and in accordance with the law and regulations of VIB.
• To notify VIB of any dispute arising regarding a joint account between joint account holders.
• Right to receive notification from VIB when account is closed or frozen.
• Request VIB to guide on safe account management and use and answer and handle questions and complaints during the process of opening and using the account.
• Other rights under these Terms and Conditions, as prescribed by law or as agreed in writing between the Account Holder and VIB that are not contrary to current laws.

6.2 Customer's obligations

• Comply with the provisions of law, regulations/instructions of VIB on opening and using accounts (including but not limited to: making payment orders, using payment means, making payment transactions through accounts).
• Provide complete, accurate, consistent information and documents and promptly update VIB with information in the account profile and additional information as required by VIB. The Customer shall be responsible for all risks arising from providing or updating incomplete, untruthful, inaccurate, or untimely information and for damages caused by his/her own mistakes.
• Comply with VIB's regulations on customer identification and transactions in anti-money laundering and anti-terrorist financing in each period.
• Ensure that the account opening subject is as specified in the "Account Opening Subject" section of the "Account Opening" Criteria of these Terms and Conditions.
• Make transactions on the account within the transaction limit specified by VIB from time to time.
• Ensure that the opening and use of the account comes from the customer's own needs, is not related to any legal agreement as prescribed by the law on anti-money laundering, and is fully responsible for such transactions.
• Ensure that the account opened and used is not owned or controlled by any individual.
• Notify VIB promptly when discovering errors or mistakes in your account or suspecting that your account is being misused. Customers need to immediately notify VIB when there are changes to the information declared in the Application for opening and using an account at VIB, information related to FATCA and other information related to opening and using the account. The account owner is fully responsible for any damages and losses arising from the customer's late notification.
• Immediately refund to VIB or coordinate with VIB to refund, upon VIB's request, the amounts that were mistakenly credited to the Customer's account due to errors or mistakes and other mistakenly credited transactions for which the Customer cannot prove legal ownership. Hereby, by this document, the Customer voluntarily agrees to let VIB automatically deduct these amounts without prior approval or notice to the Customer.
• Ensure to maintain the minimum balance in the account according to VIB's regulations and the balance allowed to be used in the account to execute established payment orders.
• Check and fully pay all fees related to opening and using the account and products and services associated with the account according to the fee schedule prescribed by VIB from time to time and published on VIB's website or VIB's headquarters or any transaction location of VIB or in other ways decided by VIB in accordance with the provisions of law. Hereby, by this document, the Customer agrees to irrevocably authorize VIB to automatically deduct these fees from the Customer's account.
• Take full responsibility for any damages caused by errors or being exploited or scammed when using payment services via the account due to your own fault.
• Do not open or maintain anonymous or impersonated accounts; steal or collude to steal, buy or sell account information. Do not buy, sell, rent, lease or lend your account; do not use the money in your account for illegal payment transactions. Do not use your account to conduct transactions for the purpose of money laundering, terrorist financing, fraud, cheating or other illegal acts.
• Do not perform, organize the performance or facilitate the performance of the following acts: use, exploit the account to gamble, organize gambling, cheat, deceive, conduct illegal business and perform other illegal acts.
• In case the Customer uses the payment service via the Account to pay for the service providers for the Customer, the Customer commits to take responsibility for transactions providing incorrect information such as: service code, payment code, payment amount, payment time and/or other information... and the Customer is responsible for resolving disputes related to the provision of this incorrect information; is responsible for payment transactions on the Account performed by the Customer multiple times and other issues between the Customer and the service provider at all times including before, during and after VIB has transferred money to the service provider's account.
• Confirmation shall be made at the request of VIB regarding the source of funds on the Money Transfer from abroad to the Customer's account in the following cases: (i) the content of the Money Transfer from abroad shows that this is a capital transaction; or (ii) the content of the Money Transfer from abroad shows that this is a foreign loan, but does not clearly show whether it is a short-term, medium-term or long-term loan.
• Hereby, the Customer unconditionally and irrevocably consents to VIB's right to automatically collect or deduct deductible payments originating from the United States. on the Customer's Credit Balance as per FATCA regulations. In applicable cases, the amount recovered/deducted will be paid (i) directly to the relevant competent authority or (ii) through VIB in accordance with the requirements of the relevant competent authority and within the scope permitted by Vietnamese law.
• The Customer commits to be responsible for all transactions related to the Account performed by the Customer's authorized person.
• Other responsibilities as prescribed in these Terms and Conditions and relevant provisions of law or other written agreements between the Account Holder and VIB that are not contrary to current laws.

7.1 VIB's rights

• Require customers to re-verify their identification information to convert the account opening form from eKYC to KYC if there are transactions exceeding the eKYC account debit transaction limit or in other cases as prescribed by law and VIB's regulations.
• Have full authority to proactively deduct (debit) the balance of all customer accounts at VIB in the following cases:
  • (1) To pay regular, periodic payments or to collect due, overdue debts, interest, other financial obligations of the Customer with VIB, costs arising in the process of managing the Account and providing payment services of VIB; Account debit must be notified to the Account holder.
  • (2) Upon written request of a competent state agency in enforcing decisions on administrative sanctions, judgment enforcement decisions, tax collection decisions or performing other payment obligations as prescribed by law and notifying the account holder.
  • (3) To adjust items that are incorrectly accounted for, not accounted for in accordance with the nature or not consistent with the content of the account's use according to the provisions of law and notify the account owner.
  • (4) When discovering that a customer's account has been mistakenly credited or upon request to cancel a credit transfer order from a money transfer payment service provider because the money transfer payment service provider discovers an error compared to the remitter's payment order. The account debit must be notified to the account holder.
  • (5) Debit the amount the Customer must pay VIB and any fees that arise related to dispute resolution between the Customer and VIB.
  • (6) Cases of debt collection related to fraud, cheating, and mistaken money transfers when there is a conclusion from a competent state agency.
  • (7) Other cases as agreed in writing between VIB and the Customer or as prescribed by law.
• Has the right to refuse to execute payment orders of customers in the following cases:
  • (1) The Customer does not fully comply with the payment procedure requirements; or the Payment Order is illegal or invalid; or The elements on the payment order do not match the elements registered in the account opening file; or the payment order does not comply with the agreements on account opening and use between VIB and the customer.
  • (2) The account does not have enough balance to execute the payment order.
  • (3) When there is a written request from a competent state agency as prescribed by law or there is evidence of payment transactions for money laundering or terrorist financing as prescribed by law on anti-money laundering.
  • (4) The account is closed or the account is completely frozen or the account is partially frozen and the unfrozen part does not have enough balance to execute the payment order.
  • (5) The account owner violates prohibited acts as prescribed in Article 8 of Decree No. 52/2024/ND-CP (including legal documents amending, supplementing and replacing Decree No. 52/2024/ND-CP).
  • (6) The account holder refuses to provide information or provides incomplete information about customer identification as requested by VIB or when there is doubt about the truthfulness of the information and transaction purpose for special transactions that must be monitored according to the provisions of anti-money laundering laws.
  • (7) Accounts suspected of fraud, forgery, or serving illegal purposes according to the Fraud and Forgery Criteria as prescribed by VIB from time to time.
• Temporarily suspend payment transactions and withdrawals on the account in cases where the customer's identification documents are invalid or have expired.
• Authorized to prescribe safety measures in payment depending on the requirements and specific operations of VIB:
  • (1) The right to request the Customer to provide complete and accurate information and necessary documents when requesting to open and use an account and products and services associated with the account at VIB.
  • (2) Have the right to temporarily stop sending all notifications related to the Customer's account from VIB to the Customer when VIB has evidence that the email and/or phone number registered by the Customer with VIB is not the Customer's.
• The right to apply the maximum penalty permitted by law if the Customer violates the regulations on account usage agreed upon in these Terms and Conditions.
• The right to refuse the request to freeze or close the account of the account owner or joint account owner when the account owner or joint account owner has not fulfilled the payment obligation according to the enforcement decision of the competent state agency or has not fully paid the debts payable to VIB.
• Has full authority to proactively return the payment order to the remitting bank in case the information on the payment order does not match the customer's information and account at VIB; or
• Has full authority to proactively refund the money transfer payment order to the remitting bank in case the transferred amount is foreign currency but the receiving account is a Vietnamese Dong account; or make a transaction to buy the entire amount of foreign currency transferred at VIB's transfer buying rate on the payment date and VIB will record this amount on the payment date into the customer's Vietnamese Dong account if the customer has a need to buy or sell foreign currency with VIB.
• The right to not perform or delay in performing VIB's obligations as agreed in these Terms and Conditions in case the processing, transmission, and electrical systems malfunction due to the fault of a third party providing services to VIB or for any reason beyond VIB's control or for the purpose of ensuring safety and limiting risks for the Customer. In this case, the Customer agrees to bear all risks and actual damages arising.
• Have the right not to execute the Customer's requests related to the Account, retain the evidence and immediately notify the competent authority for consideration and handling in case VIB discovers that the Customer violates the law or the agreement signed with VIB or shows signs of violating the law.
• The Customer is entitled to provide detailed information about the Customer's Account to competent state agencies when requested in accordance with the law and FATCA regulations. The Customer agrees that: information related to the Customer's Account(s) may be notified by VIB directly (or indirectly) to the IRS or competent state agencies under the agreement between the IRS and the Government of Vietnam or in other jurisdictions within the scope of Vietnamese law.
• The right to provide information about the account balance to the Customer's legal representative, the heir (or the heir's representative) of the Customer when the Customer dies or is declared dead. If the heir has not provided the inheritance payment documents according to VIB's regulations from time to time, VIB will only provide the customer's account information at the request of the customer's biological father/mother/wife/husband/biological child aged 18 or older for the purpose of carrying out the customer's inheritance declaration procedure.
• The right not to perform commitments and obligations under these Terms and Conditions if the performance of such commitments and obligations leads to VIB violating the provisions of law and regulations on FATCA.
• The right to request the Customer to confirm the source of funds on the Telegraphic Transfer from abroad to the Customer's account in the following cases: (i) the content of the Telegraphic Transfer from abroad shows that this is a capital transaction; or (ii) the content of the Telegraphic Transfer from abroad shows that this is a foreign loan, but does not clearly show whether it is a short-term, medium-term or long-term loan.
• The right to re-issue the Customer's account number to another Customer if the Customer's account at the time of closure: (i) is not part of the Salary Account Package and has never had any transactions within 30 days from the date of account opening; or (ii)
  VIB has not collected enough account opening fees for 06 consecutive months periodically on the 6th of each month starting from month T+2 (in which T is the month of account opening).
• The right to proactively cancel all products and services associated with the Account (including Account Packages) that the Account Holder has registered/is participating in at VIB if the Account Holder no longer has any other Account at VIB . Here, the Account Holder agrees to exempt VIB from all responsibilities related to VIB proactively canceling all products and services associated with the Account in this case.
• Other rights as prescribed in these Terms and Conditions and relevant provisions of law or other written agreements between the Account Holder and VIB that are not contrary to current laws.

7.2 VIB's responsibilities

• Comply with regulations on providing services to customers as agreed in these Terms and Conditions, VIB's regulations and legal regulations.
• Keep and update all registered signature samples of account holders for checking and comparison during account use.
• Timely credit the customer's account for incoming payment orders, cash deposits into the account; refund amounts that have been mistakenly debited to the customer's account; coordinate the refund of amounts that have been mistakenly transferred to the customer's account at the request of the payment service provider serving the money transfer party due to errors compared to the payment order made by the money transferor.
• Provide full and timely information to the account holder about the balance, transactions, documents of transactions arising on the account and the blocking of the account and be responsible for the accuracy of the information provided. VIB will notify the Customer in one of the following forms: sending a written notice or via SMS/email to the address/phone number/email that the Customer has registered with VIB.
• Update customer information periodically or when the customer notifies of changes in the account opening file and promptly update and verify customer identification information when: (i) determining that the customer has a high risk level according to VIB's regulations from time to time; or (ii) the customer shows suspicious signs according to the provisions of the Law on Anti-Money Laundering; or (iii) VIB has grounds to doubt the legality and validity of the documents in the customer's account opening file previously collected; or (iv) the customer's information is in the Black List according to the law on anti-money laundering, the list of suspected fraud and scams of the Information System supporting management, supervision and prevention of fraud risks in payment activities of the State Bank or the list of related customers suspected of fraud, scams, and violations of the law provided by the Ministry of Public Security and other competent authorities (if any); or (v) information about the Account or Account Owner is incorrect or inconsistent with information and data of the competent authority.
• Preserve and store account records and transaction documents through the account in accordance with the provisions of law.
• Secure information related to the Customer's Account, transactions on the Customer's Account and the Customer's personal information and data according to the agreement in this Terms and Conditions and according to the provisions of law. VIB is responsible for securing the Customer's personal information and data, not using the Customer's personal information and data for illegal purposes, not transferring the Customer's personal information and data to a third party without the Customer's consent, except in cases where the competent authority requests or the law stipulates.
• Fully and promptly execute payment orders after checking and controlling the legality and validity of payment orders, and the customer's account usage requests in accordance with legal regulations and agreements between VIB and the customer; control customer payment orders, ensure that they are established in accordance with prescribed procedures, are legal, valid and match the elements registered at VIB; fully and promptly provide necessary services and payment means to serve the customer's transaction needs.
• Instruct customers to properly comply with regulations on preparing documents to open accounts, preparing transaction documents through accounts, using accounts safely, notifying and explaining to customers about prohibited acts in opening and using accounts and promptly answering and handling customers' questions and complaints in opening and using accounts according to VIB's regulations from time to time.
• Resolve customer inquiries and complaints related to the use of services according to the agreement in these Terms, in accordance with the provisions of law.
• Responsible for damages in case of:
  • (i) Damages caused by errors or faults of VIB including failure to comply with legal regulations on safety and security in service provision;
  • (ii) Damages caused by VIB's failure to comply with the requirements of competent authorities regarding handling cases related to fraud, deceit, and violations of the law;
  • (iii) Damages caused by VIB's failure to apply handling measures according to internal regulations on risk management in opening and using accounts upon receiving a written notice from a competent authority regarding the account owner or account being involved in fraud, deceit, or violation of the law.
• Responsible for notifying the Customer of changes in VIB's regulations on minimum balance in the account, interest rates on the account balance and expiration date, expiry date of the ID card/passport/passport in the account opening file and other necessary information during the use of the account by: (i) sending a written notice or email or SMS/message via the service system (Zalo/Viber/...) to the address/email/phone number the Customer has registered with VIB or (ii) posting at VIB's transaction locations, or (iii) displaying, publicly announcing on VIB's website, or (iv) (v) in another form decided by VIB that is not contrary to the law. In case the Customer has registered an email and/or phone number with VIB, VIB still has the right to proactively choose one of the notification forms that VIB deems appropriate to notify the Customer other than sending an email or sending an SMS.
• Comply with the legal provisions on anti-money laundering and anti-terrorism financing and do not commit prohibited acts in opening and using Current Accounts as prescribed in Article 8 of Decree No. 52/2024/ND-CP.
• Other responsibilities as prescribed in these Terms and Conditions and relevant provisions of law or other written agreements between the Account Holder and VIB that are not contrary to current laws.

9.1 Handling when account is exploited

• As soon as the Customer discovers that his/her Account or Account information has been stolen or suspects that his/her Account has been misused (collectively referred to as “the misused Account”), the Customer must immediately notify the misused Account and request VIB to block the Account for a branch or business unit of VIB or notify the 24/7 Customer Service Center (with recording) of VIB at the phone number posted on the VIB website. After notification, the Customer must officially confirm this notification in writing to VIB. Upon receiving the Customer’s notification, VIB will block the misused Account immediately upon receipt of the notification and coordinate with relevant parties to take other necessary measures to prevent possible damage, and notify the Customer of the blocking of the misused Account via one of the following means: sending an email or SMS message to the Customer’s email address/phone number registered with VIB.
• The Customer agrees that: any transactions on the abused account made before the time VIB freezes the account upon the Customer's request (in writing) will be considered valid transactions and authorized by the Customer. In case the abused account generates any transactions before VIB announces that the abused account has been frozen, the Customer confirms and agrees that: (i) the Customer will be fully liable for the damages arising from the transactions on the abused account; (ii) the Customer is responsible for paying VIB all fees and other financial obligations arising from the transactions on the abused account before VIB confirms that the abused account has been frozen.
• In case the abused account generates any transactions after VIB notifies the Customer about the blocking of the abused account, VIB will bear the losses for the transactions generated on the abused account after the time of VIB's notification.

• Any request for verification or complaint from the Customer shall only be considered valid when the Customer confirms the request for verification or complaint by (1) submitting a Request for verification or complaint according to VIB's form; and (2) providing supporting documents for processing the verification or complaint to VIB as requested by VIB within 60 days from the date of the request for verification or complaint to serve as an official basis for VIB to process the verification or complaint. The Customer shall pay the fee for the request for verification or complaint according to VIB's regulations from time to time, not contrary to the law and published on VIB's website or VIB's headquarters or any VIB transaction location or in another manner decided by VIB in accordance with the law. After the above 60-day period, VIB will continue to support the settlement of the customer's request for verification and complaint, but the result of the verification and complaint will depend on the goodwill of the relevant parties and the customer will be fully responsible for any damage arising from the delay in the request for verification and complaint. For requests for verification and complaint from customers after 90 days from the date of the transaction (including Saturdays, Sundays and holidays), VIB will refuse to process the request for verification and complaint.
• VIB will respond to the customer's transaction inquiries and complaints within a maximum of 30 working days from the date VIB receives the customer's valid inquiry and complaint request. Within 05 working days from the date of notification of the inquiry and complaint results to the customer, if the fault lies with VIB, VIB will compensate the customer for the losses that the customer is entitled to according to the agreement in this Terms and Conditions and the provisions of law. In case the deadline for handling inquiries and complaints has expired but the cause or fault of which party has not been determined, within the next 15 working days, VIB will negotiate with the customer on a plan to handle inquiries and complaints.

• Here, the Customer agrees that: VIB has the right to change the terms of this Terms and Conditions (“Amended Terms and Conditions”). VIB will notify the Customer by: (i) sending a written notice or email or SMS/message via the service system (Zalo, Viber) to the address/email/phone number that the Customer has registered with VIB or (ii) posting at VIB's transaction locations, or (iii) displaying, publicly announcing on VIB's website, or (iv) in another form decided by VIB. The Amended Terms and Conditions will take effect from the date stated in VIB's notice.
• If the Customer does not agree with these Amended Terms and Conditions, the Customer may terminate the use of the Account, products and services associated with the Account and all incentives and services related to the Account at VIB within 15 days from the date of notification by VIB. In case the Customer does not terminate the use of the Account and products and services associated with the Account at VIB, the Customer confirms and agrees that: the Customer will be deemed to have accepted these Amended Terms and Conditions. The Customer's continued use of the Account and products and services associated with the Account at VIB after the effective date of the Amended Terms and Conditions will be the final evidence that the Customer has accepted to be bound by these amendments.
• Customers are responsible for monitoring and updating these Terms and Conditions; at the same time, maintaining the means, tools and addresses to receive information notified by VIB.

• The two parties confirm that this Terms and Conditions and the appendices (if any) together with the Application for opening and using an individual customer Current Account with VIB will form a Contract on opening and using the Customer's Account with VIB and bind the obligations of the two parties in the relationship of opening and using the Account.
• The two parties commit to strictly implement the contents of this Terms and Conditions and the amended Terms and Conditions and appendices (if any). If a dispute arises during the implementation process, the two parties will resolve it through negotiation and conciliation. In case negotiation or conciliation fails, either party has the right to bring the dispute to a competent Court for resolution.