From July 1, 4 cases are forced to go to the bank if transferring over 10 million

As directed by the State Bank, from July 1, 2024, customers will be required to go to bank counters to make money transfers in the following cases:

- Customers do not have a chip-embedded citizen ID card, only have a citizen ID card or old citizen ID card.

- Customers cannot update biometrics on the banking app and have it verified as completed due to a technical error from the system.

- The customer has successfully authenticated biometric data on the banking app. However, after July 1, when making a transaction, if the customer's facial biometric data does not match the data in the chip-embedded citizen identification card (due to changes in some facial features leading to mismatched data) at the time of making a money transfer, depositing money into an e-wallet or transferring money between banks, or paying for other transactions with large values, the customer will also be forced to go to the transaction counter.

- In case of transaction congestion in the first few days when Decision 2345 officially takes effect, causing large value money transfers to be blocked, customers must also go to the counter if needed.

From July 1, 2024, money transfers over 10 million must be authenticated by face and fingerprint

According to Decision 2345/QD-NHNN on implementing safety and security solutions in online payments and bank card payments of the State Bank, from July 1, 2024, money transfers via online accounts or deposits into e-wallets of over 10 million VND must be biometrically authenticated via face and fingerprint.

In case of transferring money under 10 million, no more than 20 million in 1 day, then authenticate with OTP code. Specifically, if transferring money under 10 million VND and the total amount transferred in a day does not exceed 20 million VND, then authenticate with OTP code, no need to authenticate with face or fingerprint.

The State Bank also stipulates that the total amount of transactions over 20 million VND/day must be authenticated by biometrics (can use a chip-embedded citizen identification card, VneID account or biometric data stored in the bank's database).

If the transfer is less than 10 million VND/time but the total transactions in the day have reached 20 million, the next transfer in that day must be authenticated by face or fingerprint, even if the next transfer is only a few thousand VND.

In the case of individual customers, before making their first transaction using a banking application (mobile banking) or before making a transaction on a device other than the one used for the last transaction, they must also be biometrically identified.

The State Bank requires banks to have additional OTP authentication methods sent via text message, voice or Soft OTP/OTP Token. Along with that, banks need to send SMS or e-mail to customers (according to customer registration information), notifying about the first login to Internet Banking, Mobile Banking application or logging in on a different device from the last login device.

Credit institutions must implement biometric authentication measures for certain types of transactions in online payments on the Internet. In addition, banks must store information about customers' online transaction devices and transaction authentication logs for at least 3 months.

Minh Hoa (t/h)

Source: https://www.nguoiduatin.vn/tu-1-7-4-truong-hop-buoc-phai-den-ngan-hang-neu-chuyen-khoan-tren-10-a670686.html