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Circular 17/2021/TT-NHNN amending Circular 19/2016/TT-NHNN on bank card operations
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Please Sign in your LuatVietnam account and sign up for the lookup software .Issuing bodies: | State Bank of Vietnam | Effective date: | |
Official number: | 17/2021/TT-NHNN | Signer: | Pham Tien Dung |
Legislation Type: | Circular | Expired date: | Updating |
Issuing date: | 16/11/2021 | Effect: | |
Fields: | Finance - Banking |
Add regulations on issuing cards by electronic means
The State Bank of Vietnam issues the Circular No. 17/2021/TT-NHNN amending and supplementing a number of articles of the Circular No. 19/2016/TT-NHNN dated June 30, 2016 of the Governor of the State Bank of Vietnam on bank card operations on November 16, 2021.
To be specific, card issuers must develop, issue and publicize the process and procedures for issuing cards of individuals by electronic means in accordance with the regulations, law regulations on anti-money laundering, law regulations on electronic transactions, relevant law regulations on ensuring safety, confidentiality of customer information and the operational safety of card issuers.
Also, card issuers shall have the right to decide on the methods, forms and technologies to identify and verify customers for card issuance by electronic means; take responsibility for the arising risks (if any).
Besides, card issuers shall base on the condition of the applied technology when identifying and verifying customers to asses risks and decide to apply the transaction limit to a customer who opens account by electronic means, but must ensure that total transaction limit (including cash withdrawal, transfer, payment) debit or prepaid card or credit card of a customer does not exceed 100 million Vietnam dong in one month.
This Circular takes effect from January 01, 2022.
For further details of the Circular 17/2021/TT-NHNN, Click here