Loc Phat Bank Vietnam (LPBank) converts Vi Viet accounts to LPBank payment accounts

From August 1, 2024, Loc Phat Vietnam Bank ( LPBank ) officially implemented the conversion of Vi Viet accounts to payment accounts on the LPBank Digital Banking platform, in order to improve the experience of utilities and increase security in online transactions for customers. According to a recent announcement by LPBank , from August 1, 2024, Vi Viet accounts will be converted to LPBank payment accounts. During the conversion process, customers can still proactively spend, pay for services with Vi Viet accounts, or withdraw money at LPBank transaction counters nationwide. At the same time, LPBank will stop providing services to Vi Viet accounts with no balance, no login and no transactions within the last 90 days. This is a step in the development strategy of "Smart Account - Complete Utilities" of LPBank with the goal of improving the customer experience in the trend of cashless payments. Customers will enjoy LPBank's digital financial ecosystem with a streamlined, safe and personalized approach to each service.

From August 1, 2024, LPBank will officially carry out the conversion of Vi Viet accounts to payment accounts on the LPBank Digital Banking platform.

“Closing Vi Viet accounts with no balance or transaction activity within the last 90 days not only helps LPBank clean up customer data, limit risks of virtual accounts, but also enhances customer information security, ensuring the safety of all financial transactions, especially at a time when fraud and fraudulent transactions are on the rise,” said an LPBank representative. For customers who do not have a payment account, LPBank will support opening a free account at transaction counters or opening an account online on the LPBank Digital Banking platform. Account opening operations are simple and quick, after only 5 minutes customers can own an LPBank payment account and be ready to make transactions 24/7.

Converting a Vi Viet account to an LPBank payment account does not change the rights and obligations between the bank and the customer.

Next, from August 22, 2024, Vi Viet accounts will not receive money transfers to ensure the safety of customer transactions. At the same time, LPBank will transfer the balance from Vi Viet accounts to payment accounts (if the customer already has an LPBank payment account). The automatic system will ensure that the money is transferred to the right person, without incurring any costs and is completely accurate. According to LPBank's representative, converting Vi Viet accounts to LPBank payment accounts does not change the rights and obligations between the bank and the customer. During the conversion process, LPBank is committed to ensuring full customer rights in accordance with the provisions of law. Currently, LPBank is ready to serve and support customers to convert Vi Viet accounts and open LPBank payment accounts directly at transaction points nationwide and via hotline: 1800 57 77 58/024 62 668 668. In addition, customers can find information on LPBank's official website at: https://lpbank.com.vn/lpbank-chuyen-doi-tkvv-sang-tktt/

On July 15, LPBank officially changed its name to Loc Phat Bank Vietnam. The change of name and brand identity marks the beginning of a new development phase of LPBank with a new business strategy, aiming at new values for customers, partners and shareholders. LPBank affirms that the name change will not affect the bank's business activities as well as the interests of customers, partners and shareholders. In addition, promoting the strength of a bank with a large network, LPBank is committed to continuing its journey with the mission of bringing the best quality products and services to people across the country. INFORMATION ABOUT LOC PHAT BANK VIETNAM (LPBANK)

• Website: https://lpbank.com.vn
• Date of establishment: March 28, 2008
• General Director: Ho Nam Tien
• Fanpage: https://www.facebook.com/LPBankFanpage
• Customer service hotline: 024 6266 8668

Head office: LPB Tower, 210 Tran Quang Khai, Trang Tien Ward, Hoan Kiem District, Hanoi

K.Oanh