Closure of Accounts with No Transactions

As per the subparagraph 1, paragraph 1, Article 29 of the Law of the Republic of Kazakhstan “On Payments and Payment Systems”, JSC Bank CenterCredit has the right to terminate a bank account agreement (close a current bank account) if there have been no monetary transactions on the client's account for more than one (1) year.

Bank Rights in accordance with Clause 351 of the “Standard Terms for Provision of a Comprehensive Range of Banking Services to Individuals at JSC Bank CenterCredit” (adhesion contract) No. 001:

Subparagraph 24: The Bank may close an account without a corresponding request from the client, regardless of whether there are outstanding claims against the account:

• if there are no funds in the account for more than one year;
• if there is a balance but no movement of funds in the account for more than one year.

Subparagraph 25: Closure of an account does not imply termination of the Agreement of Accession by either party.

Subparagraph 26: If there are no funds in the account for more than one year, the Bank has the right to terminate the service agreement. Notice of termination will be provided by the bank via its website, ATMs, payment kiosks, mobile application, remote banking system, and/or through SMS notification, push notification, or email to the client at least 15 (fifteen) calendar days prior to the proposed termination date. If the account remains without funds after the notice period, the bank will terminate the service agreement and close the account. This notice is deemed sufficient and proper for notifying the client, and by signing the agreement, the client confirms their consent to it. At the same time, the Bank reserves the right not to take these actions, in such cases, the service agreement is not terminated, the account remains open, and the relationship between the parties continues, unless otherwise stipulated in the agreement.