Struggling to update account information before January 1, 2025

Many workers and retired employees are worried that in two weeks they will not be able to withdraw money from their accounts if they do not update their information and verify their biometrics in time.

Industrial zone workers in Binh Duong wait for updates at a local bank on Sunday morning, December 15, 2024 - Photo: HUYNH HOA

Many banks have issued notices about temporarily suspending transactions and blocking cards for accounts and business cards with expired identification documents and incomplete biometric verification. This is in accordance with Circulars 17/2024/TT-NHNN and 18/2024/TT-NHNN of the State Bank of Vietnam on banking card operations (debit cards, credit cards, etc.), effective from January 1, 2025.

Specifically, those required to update their information are individual customers using expired identity documents such as national identity cards (CMND), citizen identification cards (CCCD), or passports. According to the 2023 Identity Card Law (Law No. 26/2023/QH15), old types of CMND (9-digit and 12-digit) will only be valid for transactions until December 31, 2024.

Therefore, if customers do not update their valid and complete identification documents to the bank's system, they will not be able to perform any transactions, from withdrawing money and transferring funds to making online payments.

Furthermore, failure to implement biometric authentication such as fingerprint or facial recognition will result in account suspension from the beginning of 2025. This measure aims to verify the identity of the account holder and the person conducting the transaction, thereby preventing fraud and image impersonation.

Many individual customers, especially workers in export processing zones and industrial parks, only open accounts and ATM cards to receive their monthly salaries. They possess valid and valid identification documents and cannot independently update their biometric data through banking applications. They also have to go directly to the bank's transaction counter.

Because workers couldn't take time off, many banks opened on Saturdays and Sundays, but the overwhelming number of customers and overloaded services led to frustration and concern among many customers who worried they wouldn't be able to withdraw their salaries from their accounts after two weeks. Many retired employees shared this same concern.

Source: https://tuoitre.vn/chat-vat-lo-cap-nhat-thong-tin-tai-khoan-truoc-1-1-2025-20241220001228943.htm