Vietnam: Bank cards that are inactive for up to 90 days will be deactivated

Nguyen Trinh

16:25, 05/01/2021

Recently, the State Bank of Vietnam has issued the Circular No. 20/2020/TT-NHNN amendments to the Circular No. 47/2014/TT-NHNN defining the technical requirements for confidentiality and safety of equipment serving bank card payment.

According to Clause 7 Article 1 of the Circular No. 20/2020/TT-NHNN amending Point e Clause 4 Article 6 of the Circular No. 47/2014/TT-NHNN, unused or expired accounts or accounts that have been inactive for a period of up to 90 days since the last login shall be revoked or deactivated.

Currently, the Circular No. 47/2014/TT-NHNN only stipulates that the withdrawal, removal or disabling of unused, expired accounts or accounts not activated for a period of time shall be stipulated and carried out.

Thus, from February 15, 2021, bank cards that are inactive for up to 90 days will be deactivated.

Concurrently, the card number must be appropriately concealed when displayed (only display up to the first 6 digits and the last 4 digits) and only fully displayed to: cardholders, competent state agencies according to regulations, some employees according to work requirements are approved by the competent person.

More details at the Circular No. 20/2020/TT-NHNN of the State Bank of Vietnam, effective from February 15, 2021.

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