AMENDING THE REGULATIONS ON ENTITIES ALLOWED TO USE BANK CARDS

According to Circular No. 28/2019/TT-NHNN issued by the Governor of the State Bank of Vietnam on 12/25/2019 and coming into effect on 4/1/2020:

– Accordingly, several provisions on entities allowed to use bank cards (primary cardholders and secondary cardholders) see the following amendments/supplementations:

(i) Towards the primary cardholders being organizations:

• Organizations eligible to open a transaction account are allowed to use debit cards;
• Organizations being legal entities duly established and operating under Vietnam laws are allowed to use credit cards, prepaid cards;
• Cardholders being organizations are allowed to, in writing, authorize individuals to use cards of such organizations or authorize individuals to use secondary cards as provided by laws.

(ii) Towards the supplementary cardholder being individual fully 15 to under 18 years old who has not lost or not be restricted towards the civil legal capacity, she/he is allowed to use debit cards, credit cards, prepaid cards (No longer requires the written consent of her/his legal representatives).

Best regards,