Vietnam: Cash revenues and expenses with clients must tally sheets

10:02, 10/01/2014

Recently, the Governor of the State Bank of Vietnam has issued Circular No. 01/2014/TT-NHNN stipulating the delivery, receipt, preservation and transportation of cash, precious assets and valuable papers.

Collection, payment of cash with clients are carried out according to guidance of Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam, specifically as follows:

- Cash revenues and expenses of the State Bank’s Transaction Center (below collectively referred to as the Transaction Center), The State Bank’s branches in centrally-run cities or provinces (below collectively referred to as the State Bank’s branches), credit institutions, branches of foreign banks with their clients must tally sheets or pieces according to professional processes.

In case the tally of cash collections from clients cannot be done within the day, credit institutions or branches of foreign banks and clients may agree to apply the method of cash collection and receipt in sealed bags and organize the tally according to sheets (pieces) of cash received in sealed bags on the following working day.

- Credit institutions, branches of foreign banks shall guide the implementation of cash collection or payment processes to clients (including cash collection or payment in one-stop transaction, retail banks and activities pertaining to other cash collection and payment).

- The Director of the Department of Issuance and Treasury shall guide the processes of cash collection and payment for the State Bank.

View more details at Circular No. 01/2014/TT-NHNN of the State Bank of Vietnam, effective from February 20, 2014.

Thu Ba

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