The Circular No. 45/2025/TT-NHNN consists of 16 Articles and introduces the following key amendments and supplements:
1. Provisions for Cards Issued to Institutional Customers:
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The Circular amends and supplements requirements for institutional customers to provide written authorization to an individual for using the organization’s card.
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The authorized individual is referred to as a supplementary cardholder.
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2. Provisions on Card Acceptance Devices (POS) at Points of Sale:
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Card acceptance devices may now be installed at branches, transaction offices, or payment agent locations of card payment organizations to provide cash to cardholders.
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3. Provisions on Card Issuance Procedures and Biometrics:
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The Circular supplements the requirement for card issuing organizations to meet directly with individual customers or the legally authorized representatives of institutional customers.
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Issuers must verify and match the biometric information of the cardholder/representative , with some exceptions added for institutional customers.
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It also supplements the requirement to check and ensure the phone number of the cardholder (for individuals) or the legally authorized representative (for institutions) is genuine/original owner for customers registering transactions on banking industry online service application software.
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4. Specific Provisions on Credit Card Transaction Limits:
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For credit cards, the total cash withdrawal limit for the cardholder, calculated by the credit card BIN, is capped at 100 (one hundred) million Vietnamese Dong per month.
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5. Provisions on Card User Eligibility for Foreigners:
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The Circular eliminates the requirement for individual foreign customers to have a "residency period in Vietnam of 12 months (360 days) or more from the time of requesting card issuance".
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Instead, the card's usage period shall not exceed the remaining authorized residency period in Vietnam.
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Additionally, the Circular amends and supplements other related provisions, such as the scope of credit card usage , and specifies cases where card transactions can be performed without requiring biometric verification for individual customers and institutional representatives.
THE STATE BANK OF VIETNAM/VNBA News
