Vietnam: Time limit for responding to a complaint in use of current accounts

Kim Linh

16:52, 04/03/2019

This is a new notable content of Circular No. 02/2019/TT-NHNN of the State Bank of Vietnam on amendments to Circular No. 23/2014/TT-NHNN, providing guidelines for opening and maintenance of current accounts at payment service providers.

According to Circular No. 02/2019/TT-NHNN of the State Bank of Vietnam, the time limit for responding to a trace request/complaint is specified as follows:

- Within a maximum period of 30 business days from the receipt of the initial trace request/complaint from the customer by one of the methods of receipt, the bank/foreign bank's branch shall respond to that customer's trace request/complaint;

- Within a maximum period of 05 business days from the notification of processing results of a trace request/complaint to the customer, the bank/foreign bank's branch shall compensate for loss or damage incurred by the customer;

- If no reason is found or no faults is determined within 30 days, within 15 following business days, the bank/foreign bank’s branch must reach an agreement with the customer on measures against such trace request/complaint.

View more details at Circular No. 02/2019/TT-NHNN of the State Bank of Vietnam, effective from March 01, 2019.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

25 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn