Decision No. 32/2007/QD-NHNN stipulates that the balance on one anonymous prepaid card shall not exceed five million Vietnamese dong, to take effect fifteen days after publication in the Official Gazette.
Scope of application
Banks and organizations issuing anonymous prepaid cards
Key points
- Banks and organizations issuing anonymous prepaid cards → shall not permit the balance on one anonymous prepaid card to exceed five million Vietnamese dong.
🌐 Social impact of this document
- Positive impact: Reducing financial security and order risks for users of anonymous prepaid cards.
- Negative impact: It may cause inconvenience for users when the maximum balance on the card is limited.
❓ Frequently asked questions
What is the limit of balance on one anonymous prepaid card?
The balance limit shall not exceed five million Vietnamese dong according to Decision No. 32/2007/QD-NHNN.
When does this decision come into effect?
This decision comes into effect fifteen days from the date of publication in the Official Gazette.
Who is responsible for implementing this decision?
The Director of the Office, the Head of the Payment Department, the Heads of relevant units under the State Bank, the Governors of the State Bank branches in provinces and centrally-administered cities, the Chairmen of the Boards of Directors and General Managers (Directors) of organizations issuing cards are responsible for implementing this decision.
To which type of card does this decision apply?
This decision applies to anonymous prepaid cards.
Will there be penalties if the balance limit is exceeded?
The document only specifies the balance limit and does not mention sanctions, so it is unclear how violations will be penalized.
Full text
DECISION OF THE GOVERNOR OF THE STATE BANK
On the balance limit for anonymous prepaid cards
GOVERNOR OF THE STATE BANK OF VIETNAM
Pursuant to the Law on the State Bank of Vietnam 1997; Law Amending and Supplementing Certain Provisions of the Law on the State Bank of Vietnam 2003;
Pursuant to the Law on Credit Institutions 1997; Law Amending and Supplementing Certain Provisions of the Law on Credit Institutions 2004;
Pursuant to the Law on Electronic Transactions 2005;
Pursuant to Decree No. 52/2003/NĐ-CP dated May 19, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;
Pursuant to Decree No. 64/2001/NĐ-CP dated September 20, 2001 of the Government on payment activities through organizations providing payment services;
At the proposal of the Head of the Payment Department,
DECISION:
Article 1. To prescribe the balance limit on one anonymous prepaid card at Clause 2 Article 3 of the Circular on the issuance, settlement, use, and provision of support services for bank card activities issued together with Decision No. 20/2007/QĐ-NHNN dated May 15, 2007 of the Governor of the State Bank of Vietnam as follows:
The balance on one anonymous prepaid card shall not exceed five million Vietnamese dong.
Article 2. The Standard Measurement Quality Control Department shall be responsible for organizing and guiding the implementation of the Regulations adopted herein.
Article 3. The Director of the Office, the Head of the Payment Department, Heads of relevant units under the State Bank, Governors of the State Bank branches in provinces and centrally-administered cities, Chairmen of the Board of Directors and General Managers (Directors) of organizations issuing cards are responsible for implementing this Decision./.
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