05 Principles of collection of charges of the domestic debit card service in Vietnam

05 Principles of collection of charges of the domestic debit card service in Vietnam (Internet image)

Article 4 of Circular 35/2012/TT-NHNN stipulates 05 principles of collection of charges of the domestic debit card service in Vietnam  including:

•  The organizations issued card are permitted to collect card service charges in according to types of charge, levels of charge which specified in the charge table of card service by their General Directors (Directors) but must ensure to in the framework and roadmap stipulated for types of charges stated in the Framework of domestic debit card service charges (Annex) promulgated together with this Circular. 

• The organizations of card issuance are not permitted to collect additionally charge types, excluding the card service charge table have been promulgated.

• The organizations of card issuance are not permitted to collect charges from card holders for unsuccessful card transaction, or error card transaction not due of fault of card holders.

• Organizations of card payment, organizations of card commutation are not permitted to collect card service charge for card holders.

• Units of card acceptance are not permitted to collect POS transaction charge for card holders.

In addition, Article 5 of Circular 35/2012/TT-NHNN stipulates that at least 15 days before applying the card service charge table (promulgation of new or adjustment, amendment), organizations of card issuance must send their unit's card service charge table to the State bank (Department of payment and agencies of bank inspection and supervision) for report and supervision. Posting up in publicity the card service charge table in accordance to provisions of law.

In addition, popularizing, guiding customers about card services, process of manipulation in card use, the current charge table of card services and other provisions relating to their unit’s card services, ensuring that customers have enough necessary information to consider, select and decide on use of card services. Answering, handling timely questions, complaints or technical problems for card holders. Returning the transaction amounts collected for card holders if  the card transaction is unsuccessful and pay compensation for damages for card holders as prescribed by law if damages happen due to fault of organizations of card issuance.

In particular, implementing strictly, fully provisions of the State bank on equipping, management, operation, use and assurance of safety of activities of ATM and the equipment reading card.

More details can be found in Circular 35/2012/TT-NHNN, which comes into force from March 1, 2013.

Le Vy

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