Techcombank - Technical and Commercial Joint-Stock Bank of Vietnam

10/26/2020 | News release | Distributed by Public on 10/25/2020 21:31

CHANGES IN TRANSACTIONS FOR VND ACCOUNTS OF CUSTOMERS FOLLOW CIRCULAR 16

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 (click here) 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
  1. Time and scope of transaction
  • From 22nd November, 2020 : Control of remittance transactions from current accounts of customers at Techcombank via online/ E-banking channels ([email protected] i-Bank, [email protected] mobile, ATM, CRM, E- wallet)
  1. Controlled remittance transactions:
Remittance transactions from customers' accounts mentioned in section 1 above via the following transaction channels will be restricted : Details are:
CHANNELS AFFECTED TRANSACTIONS ALTERNATIVE SOLUTIONS
E-banking channels
([email protected] i-bank and [email protected] 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 Fast Mobile , and
  • 200m VND per day for Fast 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.
(for more details, please refer to FAQs).
ATM 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 ([email protected] Mobile, [email protected] i-bank)
  • Using payment solutions via debit card (withdraw money via ATM; payment via POS/ online)
E-WALLET
  • Withdrawal from and deposit to existing e-wallets is not permitted
  • Use payment solutions via debit card on wallet
  1. Alternative options to lodge documents for customers who cannot visit a Techcombank branch
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
For valid documents, we will update your new limit after 01 working day. 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:

Best regards,
VIETNAM TECHNOLOGICAL & COMMERCIAL JOINT STOCK BANK