Digital Identity for Vehicle Circulation: When Banks Become the Digital Bridge

The Deadline is Approaching: Vehicle Owners Must Act Now

According to Decree 119/2024/NĐ-CP, all transportation accounts used for non-stop road toll payments (ETC) must be fully identified and verified with customer information before October 1, 2025. Once verified, transportation accounts will be linked to a non-cash payment method such as e-wallets, bank cards, or payment accounts under the account holder’s name.

With the deadline looming, time is of the essence. This is not just an administrative milestone but a critical “hour G” that demands swift adaptation from vehicle owners. Failure to comply will result in vehicles being unable to pass through electronic toll stations, leading to disrupted journeys, wasted time, and unnecessary hassles.

Conversely, early verification offers numerous practical benefits. Say goodbye to paperwork, receipts, and long queues at toll booths—all procedures are streamlined into a few digital steps. Accounts linked to the owner’s identity enhance transaction security, reduce fraud risks, and increase transparency for both citizens and authorities.

From a driver’s perspective, this change brings significant relief. Mr. Vu Manh Tuan (38, Hanoi) shared, “Previously, toll payments were tied to paperwork and the worry of glitches at stations. Now, after verification, all transactions are transparent on my account. It saves time and ensures a smooth journey.”

“ETC account verification is essential for better management and safeguarding our rights. Though initially confusing, the process is now seamless. Depositing money into my transportation account via the bank is clear and consistent. I urge everyone to verify early to avoid last-minute congestion and toll station issues,” Mr. Tuan added.

These changes not only benefit vehicle owners but also mark a significant step in the government’s road traffic digitalization agenda. Essentially, verifying transportation accounts lays the foundation for a transparent, modern traffic ecosystem integrated with the national payment infrastructure.

The challenge is ensuring millions of vehicle owners complete verification before the deadline efficiently. Banks play a pivotal role here, transforming legal requirements into simple, transparent digital experiences for citizens.

SHB Leads the Way in Supporting Drivers

Faced with the task of verifying millions of accounts, banks are key to turning legal mandates into user-friendly digital solutions. This trend has spurred many financial institutions to enhance technology adoption, prioritizing user experience.

SHB’s integration of electronic customer identification (eKYC) and automatic linking of payment accounts with VETC exemplifies this. This innovation simplifies the complex verification process into a seamless digital action on the VETC app. Users verify their identity once using new standards (ID card, facial recognition, license plate), and the system automatically proposes opening and linking a bank account under their name.

This approach not only ensures compliance with Decree 119 but also shapes a new ecosystem where traffic data directly connects with financial infrastructure, paving the way for future mobile and retail services. When banks and transport operators “speak the same digital language,” drivers reap the ultimate benefits.

Under Decree 119, depositing money into transportation accounts is now simpler and faster. Vehicle owners complete two quick steps: enter the deposit amount and confirm the transaction on the VETC app via their linked SHB account. Transactions up to 2 million VND/time and 20 million VND/day are processed instantly, saving drivers time and ensuring smooth travel.

A SHB representative emphasized, “We view ETC verification support not just as a banking service but as a responsibility in traffic digitalization. Linking transportation accounts with banks lays the groundwork for a smarter, more transparent, and convenient traffic infrastructure for all.”

From now until December 31, 2025, SHB offers 35,000 VND to VETC wallets for customers completing linkage steps, wishing them smooth journeys. Additionally, customers receive 80,000 VND in their SHB payment account when making a first deposit of 200,000 VND into VETC using their linked SHB account.

Proactively completing verification and account linkage now is a wise choice. Early action helps drivers avoid last-minute congestion and journey disruptions, while enjoying seamless experiences, attractive offers, and peace of mind on every road./.