Guide for Investigating and Handling Complaints When Using Bank Cards from July 1, 2024 in Vietnam

Guide for Investigating and Handling Complaints When Using Bank Cards from July 1, 2024 in Vietnam​ (Image from the Internet)

On June 28, 2024, the Governor of the State Bank of Vietnam issued Circular 18/2024/TT-NHNN regulating bank card operations.

Guide for Investigating and Handling Complaints When Using Bank Cards from July 1, 2024 in Vietnam

According to Article 19 Circular 18/2024/TT-NHNN guiding the process of handling complaints when using bank cards is as follows:

- Upon discovering an error or suspecting an error in card transactions, the cardholder has the right to request the Card-issuing Organization to investigate. Card-issuing Organization specifies a minimum period of 60 days from the date of the transaction in question during which the cardholder can request an investigation or file a complaint.

- Card-issuing Organization is responsible for handling these requests, ensuring compliance with at least the following regulations:

+ Implementing at least two methods to receive information for investigation and complaints via a phone hotline (with recording, operating 24/24 hours a day and 7/7 days a week) and through authorized transaction points of Card-issuing Organization; ensuring authentication of basic information provided by the cardholder;

+ Issuing a standard form for investigation requests and complaints (in both paper and electronic formats) for cardholders to use. When receiving information via the phone hotline or online channel, Card-issuing Organization requires the cardholder to provide necessary information for customer verification, and has measures to store the provided information for subsequent handling. In cases of authorizing another person to request an investigation or file a complaint, the cardholder must comply with the legal provisions on authorization;

+ Card-issuing Organization must immediately take measures to lock the card if the cardholder suspects fraud or loss and is responsible for any financial losses incurred after the cardholder's request to lock the card;

+ Card-issuing Organization is responsible for resolving investigation requests and complaints, and responding to the cardholder within the following time frames:

++ For cards with BIN issued by the State Bank, the time to process requests must be specifically agreed with the customer in the card issuance and usage contract and must not exceed 30 working days from the date of the initial investigation request, in accordance with one of the acceptance methods stipulated in point a of this clause;

++ For cards with BIN issued by International Card Organizations (TCTQT), the processing time must be specifically agreed with the customer in the card issuance and usage contract.

- Handling investigation results and complaints:

++ Within a maximum of 5 working days from the day of notifying the investigation results to the customer, Card-issuing Organization must reimburse the cardholder as agreed and in accordance with current legal regulations for losses not caused by the cardholder and/or not included in the agreed Force Majeure cases in the contract. If the loss is due to the fault of the involved parties (Payment Service Provider, POS Service Provider, TCTQT, Merchant), the liable party shall reimburse Card-issuing Organization as per mutual agreement and legal regulations;

++ If the agreed processing time in the card issuance and usage contract expires without determining the cause or fault, within the next 15 working days, Card-issuing Organization must agree with the cardholder on a handling plan or temporarily compensate the loss until a final decision is made by the competent authority;

++ If Card-issuing Organization, the cardholder, and the related parties cannot agree or disagree with the handling results, the dispute shall be resolved by legal provisions.

- If the issue shows signs of criminal activity, Card-issuing Organization must inform the competent state authority according to criminal procedure laws and report to the State Bank (Payment Department, State Bank branches in the locality); concurrently, notify the cardholder in writing about the status of the investigation and complaint. If the competent authority concludes there is no criminal element, within 15 working days from the date of the conclusion, Card-issuing Organization will agree with the cardholder on a handling plan for the investigation results.

More details can be found in Circular 18/2024/TT-NHNN, effective from July 1, 2024, except for the cases specified in Clauses 2 and 3, Article 28 Circular 18/2024/TT-NHNN.

To Quoc Trinh

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