Business accounts will be suspended from July 1 if... biometric authentication is not performed

(NLDO) - Enterprises are only allowed to withdraw money and make electronic payments on payment accounts after biometric authentication...

VietinBank has just made an important announcement regarding the verification of identity documents and biometric information of the organization's legal representative.

Accordingly, from July 1, 2025, institutional customers will only be allowed to withdraw money and make electronic payment transactions on their payment accounts after completing the verification of identity documents and biometric information of the legal representative.

This is done in accordance with the provisions of Article 17 of Circular 17/2024/TT-NHNN regulating the opening and use of payment accounts at payment service providers of the State Bank.

To avoid interruptions in using electronic payment accounts (including VietinBank eFAST, VietinBank ERP, direct system connection (H2H/API), bilateral payment connection with the State Treasury/Social Insurance), VietinBank recommends that customers promptly verify the identity documents and biometric information of the legal representative before July 1.

After this milestone, for customers who have not completed the update, VietinBank will temporarily suspend the provision of payment/withdrawal services from payment accounts by electronic means to ensure compliance with regulations.

After July 1, many banks announced that they will temporarily stop providing payment/withdrawal services from payment accounts by electronic means if the legal representative has not been biometrically authenticated.

KienlongBank also announced that it will be forced to suspend financial transactions on electronic media of institutional customers if the legal representative has not performed biometrics before July 1.

Specifically, the legal representative or authorized representative of the organization (collectively referred to as the legal representative) has not performed biometric authentication with the Ministry of Public Security . The identity documents of the legal representative and related persons have expired.

Individuals related to an organization's payment account include the organization's legal representative; chief accountant; and persons authorized to transact on the account.

Regarding the Project on developing the application of population data, identification and electronic authentication to serve national digital transformation in the period of 2022 - 2025, with a vision to 2030 (Project 06), the State Bank said it has coordinated with the Ministry of Public Security to implement cleaning of customer data, application of population data, CCCD, identification and electronic authentication for banking activities.

To date, the entire banking industry has had more than 113 million individual customer records and 711 thousand corporate customer records biometrically verified via chip-embedded CCCD or VNeID. The National Credit Information Center (CIC) has completed 6 verification rounds with about 57 million customer records offline; 60 credit institutions have deployed the application of chip-embedded CCCD cards via counter devices...

Source: https://nld.com.vn/tai-khoan-doanh-nghiep-se-bi-dung-giao-dich-tu-1-7-neu-chua-xac-thuc-sinh-trac-hoc-196250530102134875.htm