Closure of accounts having no movement of funds

Pursuant to subparagraph 1 of Article 29 (1) of the Law of the Republic of Kazakhstan “On Payments and Payment Systems”, JSC Bank CenterCredit may refuse to perform the Bank Account Contract (close a current bank account) if there is no cash flow on the customer’s bank account for more than 1 (one) year.

The Bank Rights in accordance with Clause 351 of the Standard Terms for Provision of the Complex of Banking Services to Individuals at JSC Bank CenterCredit (Accession Agreement) No. 001:

Sub-clause 24. The Bank may close an account without the customer’s corresponding application, regardless of the existence of outstanding claims to the account:

• If there is no money in the account for more than a year;
• If there is a remaining balance and no movements on the account for more than a year.

Sub-clause ** 25. Account closure shall not entail termination of the Accession Agreement by the Parties.

Sub-clause 26. If there is no money in the account for more than a year, the Bank may terminate the Service Agreement, whereby a notice of the Service Agreement termination shall be posted by the Bank on Bank CenterCredit’s website, ATM, SST, mobile app, remote banking system and/or by sending an SMS notification, a push notification, a notification to the customer’s e-mail 15 (fifteen) calendar days prior to the expected Service Agreement termination date. If there is no money in the account and the term specified in the notice expires, the Bank shall terminate the Service Agreement and close the account. This notice shall be sufficient and appropriate for notifying the customer, and by signing the Agreement the customer acknowledges his/her consent thereto. However, the Bank shall have the right not to perform these actions, in which case the Service Agreement shall not be terminated and the account shall not be closed, and the relationship between the Parties shall continue, unless otherwise provided for by the Agreement.