Procedures for confirming eligibility to operate at a new location for postal transaction offices that change locations in Vietna

Procedures for confirming eligibility to operate at a new location for postal transaction offices that change locations in Vietnam (latest) (Internet image)

Regarding this issue, LawNet would like to answer as follows:

The State Bank issued Decision 1805/QD-NHNN dated September 21, 2023, announcing amended, supplemented, and abolished administrative procedures in the field of establishment and banking operations carried out at the department. One-stop shop within the scope of the management functions of the State Bank.

Procedures for confirming eligibility to operate at a new location for postal transaction offices that change locations in Vietnam (latest)

Procedures for confirming eligibility to operate at a new location for postal transaction offices that change locations are prescribed as follows:

(1) Implementation sequence:

+ Step 1: Lien Viet Post Office Joint Stock Commercial Bank sends the State Bank branch where Lien Viet Post Office Joint Stock Commercial Bank plans to locate its post office transaction office an application for confirmation of eligibility for operating at a new location for postal transaction offices that change locations.

+ Step 2: The State Bank branch where Lien Viet Post Office Joint Stock Commercial Bank plans to locate its post office transaction office sends a document to Lien Viet Post Office Joint Stock Commercial Bank confirming or not confirming Receive confirmation of eligibility to operate at the new location for postal transaction offices that change locations.

+ Step 3: Within 30 days from the date of receipt of the written confirmation of eligibility to operate at the new location for the post office transaction office that changes the location of the State Bank according to the provisions of Clause 3, Article 10 Circular 43/2015/TT-NHNN (amended and supplemented), postal transaction offices must operate at a new location, and Lien Viet Post Commercial Joint Stock Bank has a written report to send to the State Bank branch where the post office transaction office is located.

Past this deadline, the written confirmation from the State Bank branch will automatically expire.

(3) Submission methods:

+ Directly at the Department receiving and returning results of administrative procedures of the State Bank, provincial and city branches; Or

+ Postal service.

(4) Document components:

- Document from Lien Viet Post Commercial Joint Stock Bank requesting confirmation of eligibility to operate at the new location for the postal transaction office changing location;

- Resolution of the Board of Directors of Lien Viet Post Commercial Joint Stock Bank on changing the location of the post office transaction office.

(5) Number of documents: 01 set

(6) Processing time: 05 working days from receipt of complete documents.

(7) Subjects carrying out administrative procedures: Enterprises.

(8) Agency implementing administrative procedures: State Bank Branches in provinces and centrally run cities.

(9) Results of implementing administrative procedures: Document confirming or not confirming compliance with the conditions to operate at the new location for the postal transaction office changing location.

(10) Fees: None.

(11) Name of application form, declaration form: No.

(12) Requirements and conditions for implementing administrative procedures:

+ Lien Viet Post Commercial Joint Stock Bank is only allowed to change the location of the post office transaction office in cases where the Post Office or Commune Cultural Post Office Point where the post office transaction office is located changes its location within the same location. provinces and centrally run cities.

+ Having an information technology system online connected to the headquarters and management branches; ensuring the information technology system and database operate continuously, safely, and securely for professional activities according to the regulations of the State Bank and other relevant provisions of Vietnamese law.

+ Meeting requirements for treasury safety, preservation of cash and valuable papers, fire prevention, and fighting according to the provisions of law.

+ In case the post office transaction office does not have a vault according to the regulations of the State Bank:

(i) In the case of the same district, town, or city under the province; districts, towns under centrally run cities, and Lien Viet Post Office Joint Stock Commercial Bank that has a vault meeting the standards according to current regulations, Lien Viet Post Office Joint Stock Commercial Bank must be responsible for transporting money from post office transaction offices that do not have vaults according to regulations on vaults that meet prescribed standards after the end of trading hours each working day;

(ii) In the case of the same district, town, or city under the province; districts, towns under centrally run cities, Lien Viet Post Office Joint Stock Commercial Bank that does not have a vault meeting the standards according to current regulations, Lien Viet Post Office Joint Stock Commercial Bank must be responsible for transporting money from post office transaction offices without vaults after deducting the end-of-day cash balance limit to the vault to ensure standards according to regulations after the end of trading hours each working day.

Lien Viet Post Commercial Joint Stock Bank is responsible for developing regulations on cash balance limits and having measures to ensure the safety of cash balances at the end of the day at post office transaction offices, reporting to the State Bank branch where the post office transaction office is located for supervision.

(13) Legal basis of administrative procedures:

+ Circular 43/2015/TT-NHNN regulating the organization and operation of postal transaction offices under Lien Viet Post Commercial Joint Stock Bank.

+ Circular 27/2022/TT-NHNN providing amendments to the Circulars prescribing division of authority to handle administrative procedures related to establishment and operation of banks.

+ Circular 11/2023/TT-NHNN amending a number of articles of Circular 43/2015/TT-NHNN regulating the organization and operation of postal transaction offices under Joint Stock Commercial Banks Lien Viet Post Office.

More details can be found in Decision 1805/QD-NHNN, taking effect on October 15, 2023.

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