Is the ATM card locked if it runs out of money?

A person can own many ATM cards from different banks because opening a card today is very simple, it can even be opened online without having to go to a transaction office, and the card can be received in a short time.

However, normal users only use 1-2 bank cards regularly, leading to other cards not being used for a long time. Therefore, many people wonder, how long will an unused ATM card be closed, or will an ATM card be locked if it runs out of money?

Most banks have a policy of blocking cards that have not made any transactions for a long time, usually after 6 - 18 months when the account runs out of balance. Even if the card is not used, customers can still be charged fees such as SMS Banking, account maintenance fees... until the balance runs out.

ATM card will be locked if out of money within 6-18 months depending on the bank.

For example, Vietcombank stipulates that it will close a customer's account when the account has a zero balance for more than 12 consecutive months. After closing the account, Vietcombank will notify the account holder. After closing the account, the customer must complete procedures to open a new account if the customer wants to use VCB's account services.

VietinBank also has a similar regulation, it will close the customer's account when the balance is 0 and there are no transactions within 1 year.

BIDV will close the customer's payment account when the account has no balance and no transactions for a continuous period of 6 months for VND accounts, 12 months for foreign currency accounts (except for some products with separate regulations and agreements with customers).

When closing an account, BIDV will notify the customer by one of the following methods: sending a text, email, text message, calling, and publicly posting at the bank branch's transaction counter.

Customers pay account closure fees according to BIDV's fee schedule publicly posted at the transaction counter.

The bank is automatically debited to pay other fees according to BIDV's fee schedule and other financial obligations of customers at BIDV (if any).

After closing the payment account, customers who want to use the payment account must follow the procedures to open a payment account according to BIDV's procedures and regulations.

Techcombank has a regulation to close accounts with balances below the minimum balance level prescribed by Techcombank and no active transactions from customers for a consecutive period of one year (365 days) (except for accounts contributing capital to purchase shares of foreign investors). Techcombank stops providing services and notifies customers in advance within 30 days from the expected date of account closure.

When closing an account, the bank will also terminate all services connected to that account, including the ATM card. Customers have many ways to verify whether their bank card is still active or not, such as checking at the ATM, bringing the card to the counter to ask the staff to check, calling the bank hotline, logging into online banking services.

Many people also wonder if unused bank cards will be deducted money. This depends on the card you are using and the registered services. If you do not use the card for a long time and the card still has money, you may still be deducted fees such as SMS Banking, account maintenance fees.

Hao Nhien (synthesis)

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