From July 1, business account transactions will be suspended if biometrics have not been updated.

The above content at Point c, Clause 5, Article 17 of Circular 17/2024/TT-NHNN dated June 28, 2024 of the State Bank of Vietnam stipulates the opening and use of payment accounts at payment service providers.

In order to implement the above regulations, many banks have announced the update of biometrics of corporate customers.

Accordingly, the legal representative of the organization must update biometric information before July 1, 2025. After the above time, if the customer has not updated, the bank must temporarily suspend money transfer and withdrawal transactions on the electronic banking service of the organization's customer.

To avoid transaction interruptions and enhance safety and security when using the service, banks have asked customers to update the biometric information of their legal representatives via the bank's application (in case the representative uses the banking application) or at the bank's Branches/Transaction Offices.

Point c, Clause 5, Article 17 of Circular 17/2024/TT-NHNN effective from July 1:

Withdrawals and electronic payment transactions on payment accounts may only be made after the verification of identity documents and biometric information of the account owner or representative (for individual customers) or legal representative (for institutional customers) has been completed and matched with:

(i) The biometric data stored in the encrypted information storage of the citizen identification card or the identity card of that person has been accurately authenticated as being issued by the Public Security agency or through authentication of that person's electronic identification account created by the Electronic Identification and Authentication System; or

(ii) Biometric data is collected through a face-to-face meeting with that person in the case of a foreigner who does not use an electronic identity or a Vietnamese person whose nationality has not been determined; or

(iii) Biometric data has been collected and checked (ensuring the correct match between the person's biometric data and the biometric data in the encrypted information storage of the citizen identification card or the identity card has been accurately authenticated as being issued by the police agency or with the person's biometric data through the authentication of the electronic identification account created by the Electronic Identification and Authentication System); or

(iv) That person's biometric data is stored in the National Population Database in case of using a citizen identification card without an encrypted information storage unit;

Source: https://phunuvietnam.vn/tu-1-7-tam-dung-giao-dich-tai-khoan-doanh-nghiep-neu-chua-cap-nhat-sinh-trac-hoc-20250525085106567.htm