A number of commercial banks have recently advised their customers to update their biometric authentication or personal identification documents by January 1, 2025, in accordance with the State Bank’s regulations.
According to Circulars 17/2024/TT-NHNN and 18/2024/TT-NHNN issued by the State Bank of Vietnam, which pertain to the opening and usage of payment accounts and bank card transactions, account holders will be unable to perform online transactions such as cash withdrawals, fund transfers, bill payments, and top-ups if they have not completed the biometric data verification process or updated their personal identification documents.
VPBank, one of the banks, has stated that customers will not be able to conduct online transactions starting January 1, 2025, if they have not completed biometric authentication. For account holders who do not have biometric data or have expired personal identification documents, transactions will be halted if their information at the bank does not match the data held by the Ministry of Public Security.
The bank is encouraging its customers to promptly update their personal identification documents and biometric data either through their mobile banking application or by visiting any of the bank’s branches and transaction offices nationwide.
Bank customers are encouraged to update their biometric data and personal identification documents before the January 1, 2025, deadline to avoid disruptions in their banking transactions.
“We have just announced a gift program worth nearly VND 7 billion for customers who complete biometric verification and update their personal information from November 7, 2024, to January 12, 2025,” said a representative from VPBank. “By complying with the regulations, our customers will contribute to reducing risks and enhancing security when using our banking products and services.”
Similarly, Nam A Bank has notified its customers that starting in early 2025, the bank will temporarily suspend card transactions, payments, and withdrawals from payment accounts if their personal identification documents or proof of residence in Vietnam have expired or are no longer valid.
For card transactions, cash withdrawals, and electronic payments, Nam A Bank will halt transactions if customers have not completed the verification process and ensured that their personal identification documents and biometric data match.
Ngưòi Lao Động reporters have observed that several other banks, including Vietcombank, Sacombank, OCB, LPBank, Agribank, SHB, and ACB, have also communicated the new regulations to their customers and encouraged them to proactively update their personal identification documents, proof of residence in Vietnam (for foreigners), and biometric data.
According to statistics from the State Bank of Vietnam, after July 1, 2024, when Decision 2345/QD-NHNN on the implementation of security and safety measures for online and bank card payments took effect, the number of fraud cases decreased by 50%, with 700 cases reported. Additionally, the number of accounts involved in fraudulent activities decreased by 72% compared to the average of the first seven months, with only 682 accounts identified…
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