Regulations on Bank Accounting Document Circulation
The circulation of bank accounting documents is stipulated in Clause 3, Article 10 of Decision 1789/2005/QD-NHNN on the Regime of Bank Accounting Documents promulgated by the Governor of the State Bank. To be specific:
- For documents related to cash deposits and withdrawals: if it is a cash deposit document, the bank must collect the full amount before recording it in the accounting books; if it is a cash withdrawal document, the bank must record it in the accounting books before disbursing the cash.
- For documents used in non-cash payments (transfers), the credit is only made to the beneficiary’s account when the payer's account has sufficient funds to cover the payment (except as otherwise provided by law).
- Documents circulated between departments within the banking unit are organized for circulation by the bank itself, not through the hands of the customer. Payment documents sent to other banks, such as remittances and clearing payments, are circulated via internal network, inter-bank network, postal services, or direct document exchange between the involved banks.
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