ANNOUNCEMENT

CHANGES IN TRANSACTIONS FOR VND ACCOUNTS OF CUSTOMERS WITH FOREIGN NATIONALITY WHO ARE RESIDENTS AND NON-RESIDENTS IN VIETNAM, AND VIETNAMESE NON-RESIDENT CUSTOMERS. 
APPLICABLE FROM NOVEMBER 22th, 2020
(For compliance with provisions of Circular no 16/2014/SBV)


Dear Valued Customers,

Vietnam Technological and Commercial Joint- stock Bank (Techcombank) would like to  thank you for banking with us and provide you with some important information.

In order to ensure compliance with the provisions of  Circular No.16/2014 /SBV of the State Bank of Vietnam, and to assist you with a continuing service to transfer money via online/ E-banking channels, Techcombank would like to announce changes that will affect your online remittance transactions through VND accounts at Techcombank. These changes will  commence at 12.00 am, 22nd November 2020, and are as follows:

1.Affected Customers

  • Customers with foreign nationality who are residents and non-residents in Vietnam
  • Customers with Vietnamese nationality who are non-residents in Vietnam

2. Time and scope of transaction changes

  • From 22nd November, 2020: Control of remittance transactions from current accounts of customers at Techcombank via  online/ E-banking channels  (F@st i-Bank, F@st mobile, ATM, E- wallet)

3. Controlled remittance transactions:

Remittance transactions from customers' accounts mentioned in section 1 above via the following transaction channels will be restricted:

  • E-banking channels (F@st mobile, F@st i-bank)
  • Debit card via Techcombank ATM
  • E- wallet
     

Details as belowed:

CHANNELS 

AFFECTED TRANSACTIONS 

ALTERNATIVE SOLUTIONS

E-banking channels
(F@st i-bank and F@st Mobile)
Remittance transactions to others.
  • Techcombank will provide a limit for remittance transactions to customers providing valid documentation via E-banking channels:
    • 200m VND per day for F@st Mobile , and
    • 200m VND per day for F@st i-bank
  • This enables customers to use E-banking channels to transfer up to 400m VND per day in total funds. Customers who need to make individual payments > 200m VND, payments above the daily limits or in other currencies, should go to any Techcombank branch to be supported.
  • Other transactions with debit cards and credit cards (e.g. cash withdrawals from ATMs, bill payments, deposits and payments to linked accounts and credit cards, POS and internet purchases) are not impacted by these changes.
ATM/CRM

The following transactions are not permitted via ATMs:

  • Transfer to another beneficiary via debit card
  • Receiving money transferred by another via debit card.
  • Cash deposit into an account via  ATMs with this facility
  • Transfer and deposit cash at Techcombank branch.
  • Online transfer on E-Banking channels (F@st Mobile, F@st i-bank)
  • Using payment solutions via debit card (withdraw money via ATM; payment via POS/ online)
VÍ ĐIỆN TỬ Withdrawal from and deposit to existing e-wallets is not permitted Use payment solutions via debit card
 

 

4. Personal documentation to be lodged at branch for continued use of E-banking channels and alternative options to lodge for customers who cannot visit a Techcombank branch

4.1 Personal documentation requirements:

No.

Customer

For existing customers of Techcombank 

For new customers of Techcombank

1 Resident cards for Vietnam  A current and valid Temporary Resident Card or Permanent Resident Card for Vietnam, which must have been issued for a period of at least 6 months. A current and valid Temporary Resident Card or Permanent Resident Card for Vietnam, which must have been issued for at least 6 months and have at least 6 months remaining before expiry
2 Foreign Passport  Passport must have a current and valid Vietnam visa for a period of at least 6 months. Passport must have a current and valid Vietnam visa for a period of at least 6 months and have at least 6 months remaining before expiry
3 Labor Contract and Work Permit A current and valid Vietnam labor contract and a valid Vietnam Work Permit A current and valid Vietnam labor contract and a valid Vietnam Work Permit
4 Spouse’s documents 

For relatives (parent/wife/husband/child) of customers who have provided documentation identified in 1, 2 and 3 above, the following valid documents will also be accepted for E-banking digital transactions:-

  • Birth certificate
  • Marriage certificate

Certificate of relationship as Relative (parent/wife/husband/child) of the customer for documentation provided under groups 1 and 2 above

 

 
4.2 Alternative options to lodge:
If customers are not able to directly visit a Techcombank branch to be provided a limit for remittance transactions via E-banking channels, the following  options are also available:

  • Authorize another person to submit the documents at a Techcombank branch on your behalf.
  • Send by post to Techcombank branch (required documents must be color copy). Please find the Techcombank branch’s address on our website here 

We do apologize for any inconvenience from these changes, which have been introduced to meet the regulations issued by the State Bank of Vietnam.

If you have any questions, please feel free to contact: