Vivid Money reserves the right to terminate the business relationship with the account holder. This is always possible with 2 months' notice (10 days in case of business customers) without giving a reason. However, we can also terminate an account under certain important circumstances (for important reasons), including:
Incorrect or false information provided by the account holder.
There's reason to believe there's a deliberate violation of our Terms and Conditions.
Severe changes in the account holder’s creditworthiness.
Evidence of the account being hacked or used to carry out illegal purposes.
Changes in your business nature, with a list of unsupported industries. You may check the list of unsupported industries here.
In certain circumstances, Vivid must do this with immediate notice, i.e., without the 2-month / 10-day notice period.
Vivid will be sending all the details regarding this matter via email. Please note that account termination is a measure we take only after careful consideration and as a last resort. The decision has been made following a thorough review and, as such, it is final.
What happens to the funds and assets when my account is closed?
Customers will receive more information about their funds in the email informing them of the relationship termination.
If the account holds any assets in the Interest, Treasury or Crypto Earn Account, we will liquidate them in accordance with the applicable Terms and Conditions.
Any remaining funds in a different currency will be converted to EUR. The conversion rates applied will be taken at the date of termination.
The converted EUR amount will be added to the main account so that the customer can withdraw it before closure, if withdrawal is possible*.
*If we notify you that withdrawal is not possible right now, after the period specified in your termination message has passed, you can contact our Customer Support Team and we will be able to make a new decision about your withdrawal eligibility. Please note that any such decision is final and any requests to change the decision before the end of the specified period will not result in a change.