The State Bank of Vietnam has issued Circular 45/2025, amending and supplementing several provisions of Circular 18/2024 on bank card operations. This new regulation introduces stricter conditions for card issuance, enhances security, and mitigates transaction risks.
A key highlight is the mandatory requirement for banks to meet customers in person and verify their biometric data when issuing cards.
Specifically, card issuers must conduct face-to-face meetings with customers. Additionally, the biometric information of individual cardholders or authorized representatives of organizations must be accurately verified before card issuance.
Furthermore, the Circular mandates that the phone number registered for digital banking transactions must belong to the account owner. This applies to both individual customers and organizational representatives registering services through online applications.
Banks must meet customers in person and verify their biometric data when issuing cards. Photo: T.L
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Regarding cash withdrawal limits for credit cards, the Circular maintains the existing regulation based on the card’s BIN (Bank Identification Number). The maximum withdrawal limit remains at 100 million VND per month, regardless of the credit limit.
Previously, many banks allowed credit cardholders to withdraw up to 80% of their total credit limit. For instance, a card with a 500 million VND limit could withdraw up to 400 million VND. However, under Circular 45, cardholders can only withdraw a maximum of 100 million VND per month from a single bank, regardless of their credit limit.
Another notable change in Circular 45 benefits foreign customers by relaxing residency requirements. The previous 12-month minimum residency requirement in Vietnam has been removed. Instead, the card’s validity period must not exceed the remaining residency duration as per the valid permit.
The Circular also adjusts and supplements regulations on credit card usage scope and transactions exempt from biometric verification.
For cards issued to organizational customers, the organization must authorize individuals in writing to use the card. These authorized individuals are designated as secondary cardholders.
A new provision allows card acceptance devices to be installed at branches, transaction offices, or payment agents of payment organizations to facilitate cash withdrawals.
Circular 45/2025 will take effect on January 5, 2026.
This Circular was issued in response to increasingly sophisticated financial fraud schemes. Notably, the buying, selling, renting, and lending of accounts, coupled with the exploitation of biometric technology (facial recognition, fingerprints), have enabled fraudsters to bypass security systems. These activities have facilitated asset embezzlement, money laundering, and tax evasion.
Tightening identification, verification, and card issuance processes under Circular 45 is deemed essential. It aims to close regulatory loopholes and strengthen the banking system’s security against high-tech crimes.
THÙY LINH
– 14:54 27/11/2025
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