What to Do When Your Bank Card Is Lost

04:02, 11/07/2024

This is a noteworthy content stipulated in Circular 19/2016/TT-NHNN issued by the State Bank of Vietnam on June 30, 2016.

Circular 19 stipulates that in the case of a lost card or compromised card information, the following measures must be taken:

- When the card is lost or the card information is compromised, the cardholder must immediately notify the Issuing Organization (TCPHT).- Upon receiving notification from the cardholder, the Issuing Organization (TCPHT) must immediately lock the card and cooperate with relevant parties to implement other necessary professional measures to prevent any potential damage, and at the same time notify the cardholder. The Issuing Organization (TCPHT) must complete the processing of the notification received from the cardholder within no more than 5 working days for cards with BIN issued by the State Bank or 10 working days for cards with BIN issued by International Card Organizations (TCTQT), from the date of receiving the notification from the cardholder.- In the event the card is exploited, causing damage, the Issuing Organization (TCPHT) and the cardholder shall determine responsibility and negotiate a way to handle the consequences. If the two parties do not reach an agreement, the handling will be carried out according to the provisions of the law.

See detailed Circular 19/2016/TT-NHNN effective from August 15, 2016.

-Thao Uyen-

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