Circular 16/2026/TT-NHNN amending Circular 25/2013/TT-NHNN on collection and change of money unqualified for circulation

CIRCULAR

Amending and supplementing a number of articles of Circular No. 25/2013/TT-NHNN of the Governor of the State Bank of Vietnam, on collection and change of money unqualified for circulation

Pursuant to the Law on the State Bank of Vietnam No. 46/2010/QH12;

Pursuant to the Government’s Decree No. 40/2012/ND-CP on issue of money, and preservation and transportation of precious assets and valuable papers within the system of the State Bank, credit institutions and foreign bank branches;

Pursuant to the Government’s Decree No. 26/2025/ND-CP defining the functions, tasks, powers and organizational structure of the State Bank of Vietnam;

At the proposal of the Director of the Issue and Vault Department;

The Governor of the State Bank of Vietnam hereby promulgates the Circular amending and supplementing a number of articles of Circular No. 25/2013/TT-NHNN of the Governor of the State Bank of Vietnam, on collection and change of money unqualified for circulation.

Article 1. To amend and supplement Clause 1, Article 2

“1. Regional State Bank branches (hereinafter referred to as the State Bank branches), the Central Banking Department, the Issue and Vault Department.”.

Article 2. To amend and supplement Clause 1 and Clause 2, Article 4

“1. Money unqualified for circulation due to circulation (objective-cause category):

a) Banknotes with changed color or faded images, patterns, letters or numbers; crumpled, torn, smeared, stained or worn; with separated or intact torn parts that have been glued but remain complete banknotes;

b) Coins that are worn away, rusty, or partly or completely damaged in their images, patterns, letters, numbers or plating coats.

2. Money unqualified for circulation due to preservation (subjective-cause category):

a) Banknotes that are holed or partially torn out; banknotes that have been glued; burned or deformed due to contact with heat sources; whose printing paper, colors or security technical specifications have been changed due to chemicals (such as detergents, acids, corrosive substances, etc.); written on, drawn on or erased; or damaged or deformed due to other reasons not resulting from acts of destruction;

b) Coins that are bent, warped, or have their shape or design images altered due to external force or high temperatures; or are corroded due to contact with chemicals.”.

Article 3. To amend and supplement Clause 2, Article 5

“2. In the course of tallying and delivering cash with exchange units, if a State Bank branch detects money unqualified for circulation due to preservation among bundles of money qualified for circulation, it shall collect and exchange such money.”.

Article 4. To amend and supplement Article 6

“1. The State Bank branch or exchange unit shall collect and change money unqualified for circulation defined in Clauses 1 and 3, Article 4 of this Circular, for customers in unlimited quantity without requiring any procedures and papers.

2. A customer shall give money unqualified for circulation defined in Clause 2, Article 4 of this Circular to the State Bank branch or exchange unit, which shall change the money under the conditions below:

a) The money unqualified for circulation is not the result of acts of destruction;

b) When a banknote is burned, holed or partially torn out, its remaining area must be equal to or larger than 60% of the area of a banknote of the same kind; if it is glued, it must have an area of at least 90% of the area of a banknote of the same kind and must remain original and preserve the complete layout of a banknote (front and back; top and bottom; right and left), while its security elements remain identifiable;

For polymer banknotes that are burned or shrunk and deformed due to exposure to a high heat source, the remaining area must be at least 30% of the area of a banknote of the same kind and must retain the complete layout of a banknote, while at least two of the following security elements remain identifiable:  the hidden image in the small window, luminant colorless ink, luminant serial numbers, security thread, shimmering golden stripe, embossed portrait of President Ho Chi Minh, optically variable ink, see-through register and watermark.

Under the conditions on change specified in this Clause, the State Bank branch or exchange unit shall change money for customers.  In case of unqualification for change, the State Bank branch or exchange unit shall return money to the customer and notify it of the reason.

For banknotes which cannot be determined as qualified for change and need examination, customers shall submit a written request for change (made according to Appendix No. 01 attached hereto) to the State Bank branch or exchange unit for the latter to conduct the examination in accordance with Article 7 of this Circular.”.

Article 5. To amend and supplement Article 7

“1. Where banknotes have not yet been determined to satisfy the exchange conditions and require examination, within 3 working days from the date of receipt of the exhibits from the customer, the exchange unit shall directly send the exhibits together with a request for examination (made according to Appendix No. 02 attached hereto) to the local State Bank branch for examination.

2. Within 3 working days from the date of receiving a request for examination from an exchange unit, a State Bank branch shall notify in writing the requesting unit of examination results and return the exhibits.

3. An examination requesting unit shall organize to transport money unqualified for circulation and be responsible for transportation security.”.

Article 6. To amend and supplement Clause 2, Article 10

“2. The delivery and receipt of money unqualified for circulation between State Bank branches, the Central Banking Department, and the Central Vaults and State Bank branch - Region 11 shall be carried out in accordance with the applicable regulations on cash delivery and receipt within the State Bank system.”.

Article 7. To amend and supplement Clause 1, Article 12

“1. State Bank branches shall collect, exchange and examine money unqualified for circulation for exchange units, organizations and individuals. The Central Banking Department shall collect money unqualified for circulation from exchange units.”.

Article 8. To amend and supplement Article 16

“Article 16. Implementation organization

Heads of units under the State Bank, credit institutions, foreign bank branches, and the State Treasury shall organize the implementation of this Circular.”.

Article 9. To replace the phrase in Appendix 01

To replace the phrase “Identity card” with the phrase “Customer’s identity card or citizen identity card or electronic identity card or passport”.

Article 10. Implementation responsibility

Heads of units under the State Bank, credit institutions, foreign bank branches, and the State Treasury shall organize the implementation of this Circular.

Article 11. Effect

This Circular takes effect from May 19, 2026./.