What is a blank savings account?

A blank savings passbook is essentially a blank passbook that has not been filled in with any information. It's like a blank sheet of paper, ready to record information related to customers' savings deposits at people's credit funds.

Article 36b of Circular 31/2012/TT-NHNN, supplemented by Clause 19, Article 1 of Circular 21/2019/TT-NHNN, stipulates the following regarding blank savings books:

From January 1, 2020, people's credit funds are only allowed to use blank savings passbooks in the form issued and provided by cooperative banks to receive customer savings deposits when carrying out activities stipulated in Clause 1, Article 36 of this Circular.

Illustrative image.

Characteristics of a blank savings passbook

No information available: The passbook has not been filled with any information such as deposit amount, term, owner's name, etc.

For credit funds: Primarily used by people's credit funds, not common in commercial banks.

According to regulations: The blank savings passbook template must comply with the regulations of the State Bank of Vietnam and be provided by the cooperative bank.

Why are there blank savings passbooks?

Using blank savings passbooks makes it easier for people's credit funds to record information for many different customers, helping to reduce printing costs. Customer information will be recorded fully and accurately as soon as a deposit transaction is made.

Blank savings passbooks are a useful tool for people's credit funds to effectively manage customer deposits. However, customers should also take care to safeguard their passbooks to protect their rights.

Compiled by Cong Hieu

Source: https://vtcnews.vn/so-tiet-kiem-trang-la-gi-ar903401.html