Hanoi, Vietnam: Entities eligible to use bank cards in Vietnam from July 1, 2024

Entities eligible to use bank cards in Vietnam from July 1, 2024

The entities eligible to use bank cards in Vietnam are defined as follows:

(1) For principal cardholders being individuals:

• Individuals aged 18 and older with full civil act capacity as prescribed by law are eligible to use debit cards, credit cards, and prepaid cards;

• Individuals aged from 15 to under 18 without loss or restriction of civil act capacity are eligible to use debit cards, credit cards, and prepaid cards.

(2) For principal cardholders being organizations:

Organizations eligible to open payment accounts are allowed to use debit cards. Legal entities established and operating lawfully under the laws of Vietnam may use credit cards and named prepaid cards.

The organization cardholder may authorize an individual in writing to use the organization's card or allow the individual to use a supplementary card in accordance with Circular 18/2024/TT-NHNN and the laws on authorization.

(3) For supplementary cardholders:

Supplementary cardholders can use cards as specifically designated by the primary cardholder but only within the following scope:

• Individuals aged 18 and older with full civil act capacity as prescribed by law are eligible to use debit cards, credit cards, and prepaid cards;

• Individuals aged from 15 to under 18 without loss or restriction of civil act capacity may use debit cards, credit cards, and prepaid cards;

• Individuals aged from 6 to under 15 without loss or restriction of civil act capacity, with written consent from their legal representative (primary cardholder), can use debit cards and prepaid cards.

Note: In cases where the entities mentioned in points (1) and (3) are foreigners, they must have a residence term in Vietnam of 12 months (360 days) or more from the issuance request date; the card's validity period must not exceed the remaining residence term in Vietnam.

More details can be found in Circular 18/2024/TT-NHNN which takes effect in Vietnam on July 1, 2024, except for provisions in clauses 2 and 3, Article 28 of Circular 18/2024/TT-NHNN.

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