Circular 18 of trực tiếp bóng đá hôm nay euro State Bank of Vietnam on trực tiếp bóng đá hôm nay euro activities of bank cards
Who does Circular 18/2024/TT-NHNN apply to regarding trực tiếp bóng đá hôm nay euro activities of bank cards in Vietnam? Which organization is authorized to issue bank cards in Vietnam? What is a bank card according to trực tiếp bóng đá hôm nay euro law in Vietnam? What currency is used in bank card transactions in Vietnam?
Circular 18/2024/TT-NHNN on trực tiếp bóng đá hôm nay euro activities of bank cards
On June 28, 2024, trực tiếp bóng đá hôm nay euro Governor of trực tiếp bóng đá hôm nay euro State Bank of Vietnam issued Circular 18/2024/TT-NHNN, which regulates trực tiếp bóng đá hôm nay euro activities of bank cards.
trực tiếp bóng đá hôm nay euro Circular 18/2024/TT-NHNN applies to trực tiếp bóng đá hôm nay euro following entities:
- Card issuing organizations.
- Card payment organizations.
- Intermediary payment service providers.
- Card accepting units.
- Cardholders.
- Other organizations and individuals involved in card activities.
Circular 18/2024/TT-NHNN officially takes effect from July 1, 2024.
Circular 18 of trực tiếp bóng đá hôm nay euro State Bank of Vietnam on trực tiếp bóng đá hôm nay euro activities of bank cards - image from internet
What is a bank card according to trực tiếp bóng đá hôm nay euro law in Vietnam? What currency is used in bank card transactions in Vietnam?
In Clause 1, Article 3 of Circular 18/2024/TT-NHNN, trực tiếp bóng đá hôm nay euro specific explanations are as follows:
Explanation of Terms
In this Circular, trực tiếp bóng đá hôm nay euro following terms are understood as follows:
1. Bank card: A payment instrument issued by a card issuing organization to facilitate card transactions under agreed conditions and terms.
2. Debit card: A card that allows trực tiếp bóng đá hôm nay euro cardholder to make card transactions within trực tiếp bóng đá hôm nay euro amount and spending limit (if any) on trực tiếp bóng đá hôm nay euro cardholder's payment account opened at trực tiếp bóng đá hôm nay euro card issuing organization.
3. Credit card: A card that allows trực tiếp bóng đá hôm nay euro cardholder to make card transactions within trực tiếp bóng đá hôm nay euro credit limit granted according to trực tiếp bóng đá hôm nay euro agreement with trực tiếp bóng đá hôm nay euro card issuing organization.
...
As regulated above, a bank card is a payment instrument issued by a card issuing organization for conducting card transactions under agreed conditions and terms.
In addition, based on Article 4 of Circular 18/2024/TT-NHNN, trực tiếp bóng đá hôm nay euro currency used in bank card transactions is regulated as follows:
Currency used in card transactions
1. Within trực tiếp bóng đá hôm nay euro territory of Vietnam:
a) Cash withdrawal transactions using a card must be conducted in Vietnamese Dong.
b) For other card transactions:
(i) trực tiếp bóng đá hôm nay euro transaction currency is Vietnamese Dong. In cases where foreign currency is allowed for transactions under foreign exchange management regulations, trực tiếp bóng đá hôm nay euro transaction currency can be Vietnamese Dong or Vietnamese Dong and foreign currency.
(ii) trực tiếp bóng đá hôm nay euro payment currency is Vietnamese Dong. Authorized card payment service providers can only receive payment in Vietnamese Dong from cardholders.
c) In cases where currency conversion from foreign currency to Vietnamese Dong is required, trực tiếp bóng đá hôm nay euro exchange rate between Vietnamese Dong and foreign currency is determined by trực tiếp bóng đá hôm nay euro agreed-upon rate between trực tiếp bóng đá hôm nay euro parties involved, in compliance with trực tiếp bóng đá hôm nay euro regulations of trực tiếp bóng đá hôm nay euro State Bank of Vietnam.
2. Outside trực tiếp bóng đá hôm nay euro territory of Vietnam:
When conducting card transactions outside trực tiếp bóng đá hôm nay euro territory of Vietnam, trực tiếp bóng đá hôm nay euro cardholder must make payment to trực tiếp bóng đá hôm nay euro card-accepting institution in Vietnamese Dong, based on trực tiếp bóng đá hôm nay euro exchange rate agreed upon between trực tiếp bóng đá hôm nay euro parties, in compliance with trực tiếp bóng đá hôm nay euro regulations of trực tiếp bóng đá hôm nay euro State Bank of Vietnam.
As regulated above, trực tiếp bóng đá hôm nay euro currency used in bank card transactions is specified as follows:
First: Within trực tiếp bóng đá hôm nay euro territory of Vietnam:
- Cash withdrawal transactions using a card must be conducted in Vietnamese Dong.
- For other card transactions:
- trực tiếp bóng đá hôm nay euro transaction currency is Vietnamese Dong. In cases where foreign currency is allowed for transactions under foreign exchange management regulations, trực tiếp bóng đá hôm nay euro transaction currency can be Vietnamese Dong or Vietnamese Dong and foreign currency.
- trực tiếp bóng đá hôm nay euro payment currency is Vietnamese Dong. Authorized card payment service providers can only receive payment in Vietnamese Dong from cardholders.
- In cases where currency conversion from foreign currency to Vietnamese Dong is required, trực tiếp bóng đá hôm nay euro exchange rate between Vietnamese Dong and foreign currency is determined by trực tiếp bóng đá hôm nay euro agreed-upon rate between trực tiếp bóng đá hôm nay euro parties involved, in compliance with trực tiếp bóng đá hôm nay euro regulations of trực tiếp bóng đá hôm nay euro State Bank of Vietnam.
Second: Outside trực tiếp bóng đá hôm nay euro territory of Vietnam:
When conducting card transactions outside trực tiếp bóng đá hôm nay euro territory of Vietnam, trực tiếp bóng đá hôm nay euro cardholder must make payment to trực tiếp bóng đá hôm nay euro card-accepting institution in Vietnamese Dong, based on trực tiếp bóng đá hôm nay euro exchange rate agreed upon between trực tiếp bóng đá hôm nay euro parties, in compliance with trực tiếp bóng đá hôm nay euro regulations of trực tiếp bóng đá hôm nay euro State Bank of Vietnam.
Which organization is authorized to issue bank cards in Vietnam?
Based on Article 8 of Circular 18/2024/TT-NHNN, trực tiếp bóng đá hôm nay euro issuance of bank cards includes trực tiếp bóng đá hôm nay euro following provisions:
Card issuing organizations
1. Card issuing organizations include:
a) Commercial banks, cooperative banks, and branches of foreign banks that have been granted a License by trực tiếp bóng đá hôm nay euro State Bank of Vietnam to provide card services.
b) Policy banks that issue cards in accordance with trực tiếp bóng đá hôm nay euro regulations of trực tiếp bóng đá hôm nay euro Government and trực tiếp bóng đá hôm nay euro provisions of this Circular.
c) Integrated financial companies and consumer credit financial companies that issue credit cards when their card issuing activities are specified in trực tiếp bóng đá hôm nay euro License granted by trực tiếp bóng đá hôm nay euro State Bank of Vietnam.
2. Card-accepting institutions must comply with trực tiếp bóng đá hôm nay euro domestic chip card standards when issuing cards with a BIN granted by trực tiếp bóng đá hôm nay euro State Bank of Vietnam.
3. Card-accepting institutions must issue internal regulations on card issuance and card usage to ensure compliance with trực tiếp bóng đá hôm nay euro provisions of this Circular and relevant laws and regulations.
4. Card-accepting institutions must use BINs granted by trực tiếp bóng đá hôm nay euro State Bank of Vietnam, except in cases specified in Clause 5 of this Article.
5. Card-accepting institutions that are permitted to operate in foreign exchange may enter into agreements with international card organizations to issue cards with BINs granted by these organizations.
6. Card-accepting institutions are not allowed to enter into agreements with other organizations for trực tiếp bóng đá hôm nay euro purpose of restricting or preventing trực tiếp bóng đá hôm nay euro issuance of co-branded cards.
As regulated above, trực tiếp bóng đá hôm nay euro issuance of bank cards includes:
- Commercial banks, cooperative banks, and branches of foreign banks that have been granted a License by trực tiếp bóng đá hôm nay euro State Bank of Vietnam to provide card services.
- Policy banks that issue cards in accordance with trực tiếp bóng đá hôm nay euro regulations of trực tiếp bóng đá hôm nay euro Government and trực tiếp bóng đá hôm nay euro provisions of this Circular.
- Integrated financial companies and consumer credit financial companies that issue credit cards when their card issuing activities are specified in trực tiếp bóng đá hôm nay euro License granted by trực tiếp bóng đá hôm nay euro State Bank of Vietnam.
