What is the latest notice form for bank card issuance? What are the contents of the agreement on bank card issuance and usage in Vietnam?
What is the latest notice form for bank card issuance and usage in Vietnam?
The latest notice form for bank card issuance and usage is specified in the Appendix issued together with Circular 28/2019/TT-NHNN. Below is an image of the latest notice form for bank card issuance and usage:
Download the notice form for bank card issuance and usage: Here.
What is the latest notice form for bank card issuance? What are the contents of the agreement on bank card issuance and usage in Vietnam? (Image from the Internet)
What are the contents of the agreement on bank card issuance and usage in Vietnam?
Pursuant to Clause 1, Article 13 of Circular 19/2016/TT-NHNN (some contents are amended and supplemented by Clauses 2 and 3, Article 1 of Circular 30/2016/TT-NHNN, amended by Clause 6, Article 1 of Circular 17/2021/TT-NHNN) stipulates as follows:
Agreement on card issuance and usage
1. An agreement on card issuance and usage must contain at least the following contents:
a) Number of agreement;
b) Date of agreement;
c) Name of the card issuer, name of the cardholder; full name of the person who is authorized to use the organization's card;
d) Rights and obligations of contracting parties;
dd) Regulations on fees and charges (types and changes of fees and charges);
e) Information about account balance, history of card transactions and other necessary information that is provided by the card issuer to the cardholder;
g) The credit facility agreement to the cardholder, includes: Card facility agreement and changes of card facility agreement, including overdraft limit (for debit cards) and credit limit; interest rates, how interest is charged on the loan, order of recovery of loan principal and interest (for overdrafted credit and debit cards); credit granting period, terms of credit, loan term, minimum sum of repayment, method of repayment, overdue debt fee (if any). The credit facility agreement concluded with the cardholder may be specified in the agreement on card issuance and usage or in another document;
h) Scope of card usage;
i) Cases of rejection of card-based payment;
k) Cases of temporary lock, seizure or validity cancellation of cards during their usage;
l) Cases of refund of the remaining sum of the card;
m) Safety and security measures required during the card usage and card losses or card disclosure;
n) Methods of receiving trace requests, complaints; time limit for processing trace requests, complaints, and results thereof in accordance with Article 20 of this Circular;
o) Force majeure events.
2. With respect to anonymous prepaid cards, card issuers must provide terms and conditions for issuance of usage of anonymous prepaid cards and announce them to customers. The card issuer must enter into an agreement with an applicant for issuance of anonymous prepaid card, which at least contains: information about the applicant; number of cards to be issued, card limit, deposit made into the card, scope of card usage, validity period (or the validity date) of the card.
Thus, according to the above provisions, an agreement on bank card issuance and usage must contain the following contents:
- Number of agreement;
- Date of agreement;
- Name of the card issuer, name of the cardholder; full name of the person who is authorized to use the organization's card;
- Rights and obligations of contracting parties;
- Regulations on fees and charges (types and changes of fees and charges);
- Information about account balance, history of card transactions and other necessary information that is provided by the card issuer to the cardholder;
- The credit facility agreement to the cardholder, includes:
+ Card facility agreement and changes of card facility agreement, including overdraft limit (for debit cards) and credit limit;
+ Interest rates, how interest is charged on the loan, order of recovery of loan principal and interest (for overdrafted credit and debit cards);
+ Credit granting period, terms of credit, loan term, minimum sum of repayment, method of repayment, overdue debt fee (if any).
+ The credit facility agreement concluded with the cardholder may be specified in the agreement on card issuance and usage or in another document;
- Scope of card usage;
- Cases of rejection of card-based payment;
- Cases of temporary lock, seizure or validity cancellation of cards during their usage;
- Cases of refund of the remaining sum of the card;
- Safety and security measures required during the card usage and card losses or card disclosure;
- Methods of receiving trace requests, complaints; time limit for processing trace requests, complaints, and results thereof in accordance with Article 20 of this Circular;
- Force majeure events.
Vietnam: When will a bank card be seized?
Pursuant to Article 7 of Circular 19/2016/TT-NHNN stipulating that a card shall be seized in any of the following cases:
- It is fake;
- It is used illegally.
- It is used for the purpose of investigation and actions against crime as prescribed by law.
- Other cases of card seizure as agreed upon in the agreement on card issuance and usage.
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