What are the technical standards for cash-in-transit vehicles from February 12, 2024 in Vietnam?

What are the technical standards for cash-in-transit vehicles from February 12, 2024 in Vietnam?

On December 29, 2023, the Governor of the State Bank of Vietnam issued the Circular 23/2023/TT-NHNN on technical standards for vaults and cash-in-transit vehicles of credit institutions and foreign bank branches.

Article 8 of Circular 23/2023/TT-NHNN (effective from February 12, 2024) stipulates that cash-in-transit vehicles of banks must meet the following technical standards:

- Cash-in-transit vehicles have a compartment for transporting money, valuables, and securities; are equipped with fire extinguishing equipment, tracking devices (if any), and have space for security guards.

- The compartment for transporting money in cash-in-transit vehicles must meet the following technical standards:

+ For trucks: It must be closed with a 3-layer body. The outer and inner layers are made of stainless steel or rust-treated steel with a minimum thickness of 1mm (for the outer layer) and 2mm (for the inner layer); the middle layer is made of fire-resistant material. The compartment door has 1 layer of door.

+ For other types of vehicles: It must be closed with a 3-layer body (excluding the original vehicle body of the manufacturer). The outer and inner layers are made of stainless steel or rust-treated steel with a minimum thickness of 1mm (for the outer layer) and 2mm (for the inner layer); the middle layer is made of fire-resistant material. The compartment door has 2 layers of door, the outer layer of which is the original vehicle door of the manufacturer. In cases where the compartment for transporting money is designed with a window looking into the cockpit, the window structure has two layers: the inner layer is a ɸ12 vertical steel bar, spaced no more than 60mm apart; the outer layer is transparent material and steel mesh.

+ The compartment door has strong hinges, bolts, and locks (snap locks, mechanical number locks, or electronic number locks), with a size convenient for loading and unloading.

+ The compartment for transporting money is equipped with lighting, intrusion alarm devices, fire alarm devices, and cameras (if any).

What are the technical standards for cash-in-transit vehicles from February 12, 2024 in Vietnam? - Image from Internet

What are regulations on structure and technical standards of vaults in Vietnam?

As prescribed in Article 5 of Circular 23/2023/TT-NHNN (effective from February 12, 2024), the structure and technical standards of vaults are regulated as follows:

(1) The foundation, walls, and ceiling of the vault are made of reinforced concrete and interconnected to form a box-shaped unit. They must meet the following standards:

- The surface of the vault foundation is flat. The foundation consists of the following layers from top to bottom: a non-slip, compression- and impact-resistant surface layer; reinforced concrete; concrete stone; yellow sand; and natural soil, and is treated for termites and moisture;

- In the case of a vault built on a floor, the foundation must have the same technical standards as the ceiling, but with an additional non-slip, compression- and impact-resistant surface layer;

- The height of the vault walls must be appropriate to the height of the floor of the building where the vault is built;

- The vault ceiling is made of solid reinforced concrete;

- The security corridor of the vault (if any) has a separate door and is equipped with an intrusion alarm system;

- Ventilation openings are properly arranged on the vault walls, partition walls, and buffer room (if any);

- An elevator is installed for vaults built on upper floors or basements to transport money, valuables, and securities.

(2) Vaults at the head office, branches of credit institutions, and head offices of foreign bank branches must meet the minimum technical standards specified in Appendix 1 attached to Circular 23/2023/TT-NHNN.

What are general regulations on vaults of credit institutions in Vietnam?

Article 4 of Circular 23/2023/TT-NHNN (effective from February 12, 2024) stipulates the general regulations for vaults as follows:

General regulations for vaults

1. Vaults are built in the headquarters of credit institutions and foreign bank branches; have a usable area that meets the requirements for the safekeeping of money, valuables, and securities.

The General Director (Director) of the credit institution or foreign bank branch decides on the construction of a vault at a location outside the headquarters of the credit institution or foreign bank branch, but it must meet the technical requirements for vaults stipulated in this Circular.

2. Vaults must be located in a convenient location to ensure that vault and treasury operations are closed and safe.

3. Vaults are equipped with systems and devices.

4. Credit institutions and foreign bank branches that provide asset storage services or rent safe deposit boxes must use a storage room with a door that meets the standard for vault doors or a separate vault; or equip separate safe deposit boxes placed in the vault or storage room to provide asset storage services.

As regulations above, vaults of credit institutions in Vietnam are regulated as follows:

- Vaults are built in the headquarters of credit institutions and foreign bank branches; have a usable area that meets the requirements for the safekeeping of money, valuables, and securities.

The General Director (Director) of the credit institution or foreign bank branch decides on the construction of a vault at a location outside the headquarters of the credit institution or foreign bank branch, but it must meet the technical requirements for vaults stipulated in this Circular.

- Vaults must be located in a convenient location to ensure that vault and treasury operations are closed and safe.

- Vaults are equipped with systems and devices.

- Credit institutions and foreign bank branches that provide asset storage services or rent safe deposit boxes must use a storage room with a door that meets the standard for vault doors or a separate vault; or equip separate safe deposit boxes placed in the vault or storage room to provide asset storage services.

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