Bank’s reaction to end of service payment upon changing job

Dear questioner,

The answer to your question is YES.

In the case that you have a loan with the bank or a credit card with pending payments or any sort of obligation that the bank may not be sure that you will be able to settle if you lose your job, the bank has the power to block and freeze the amount that they receive to your bank account that is referenced as End of Service payment.

However, the moment you are able to provide the bank with a copy of your new offer letter for a new job or if you settle your debts towards the bank, such amount should be released.

If you require more assistance regarding the subject matter, please do not hesitate to contact me directly through ae@elnaggarlegal.com

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