(NLĐO) – Many users are worried that their physical ATM cards cannot be used to withdraw money at ATMs or process transactions at POS machines because biometric authentication has not yet been completed.
Mr. Ngoc Do (residing in Go Vap district, Ho Chi Minh City) reported that for many years, he has received his salary through his bank account and regularly uses his ATM card to withdraw money at ATMs, rarely using his bank account for online payment or shopping transactions.
Recently, upon hearing that ATM withdrawals might be suspended if biometric authentication isn't updated, he felt very worried.
Many older people, who are less tech-savvy, are also concerned about the State Bank of Vietnam's regulations regarding the mandatory biometric authentication update after January 1, 2025, in order to continue transactions and payments via ATM cards.
According to an investigation by a reporter from Nguoi Lao Dong Newspaper, the State Bank of Vietnam has recently issued Official Letter No. 9913/NHNN/TT providing guidance on electronic card transactions.
Accordingly, online payment transactions and cash withdrawals at ATMs are considered electronic card transactions (excluding the use of physical cards to withdraw money at automated teller machines), while transactions at point-of-sale (POS) terminals are not considered electronic transactions.
Users with physical ATM cards will still be able to withdraw money at ATMs and make transactions at POS machines after January 1, 2025.
A representative from Vietcombank explained that with the updated regulations from the State Bank of Vietnam as mentioned above, from January 1, 2025, customers who have not yet updated their biometric information can still use their physical cards to withdraw money at ATMs and conduct transactions at POS machines.
Other customer card transactions will be temporarily suspended, including: online card payments; cash withdrawals via QR code at ATMs; and other electronic card transactions.
Therefore, Vietcombank recommends that customers update their biometric information as soon as possible to ensure safety and security when conducting banking transactions.
Banks are encouraging customers to update their biometric data as soon as possible to avoid disruptions to online transactions after January 1, 2025.
If customers have not updated their identification documents to replace expired documents (ID card, citizen identification card, passport, visa), their transactions will be temporarily suspended at all channels (counter, online, ATM).
In recent days, not only commercial banks but also e-wallets like MoMo and Zalopay, and applications from securities companies have been continuously advising users to update their biometric authentication as soon as possible to avoid transaction disruptions after January 1, 2025.
Some banks are opening for transactions all day on weekends to support customers and avoid localized congestion and bottlenecks like those that occurred in July 2024 (when biometric authentication was mandatory for online transactions of 10 million VND or more, or total transactions exceeding 20 million VND per day).
According to security experts, biometrics is seen as a positive step forward in reducing risks and protecting users from fraud and scams.
For transactions requiring biometric authentication, in addition to authentication methods using Smart Code/SMS OTP, customers must compare the actual facial image of the person conducting the transaction with the data stored in the chip of the chip-embedded citizen identification card.
This helps to minimize fraudulent impersonation schemes, unauthorized access to devices, or information theft aimed at misappropriating assets.
Source: https://nld.com.vn/sau-1-1-2025-the-chua-xac-thuc-sinh-trac-hoc-co-rut-duoc-tien-tu-may-atm-196241216094045656.htm
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