The Governor of the State Bank of Vietnam (SBV) issued Circular No. 30/2016/TT-NHNN on October 14 to revise a number of circulars on the provision of payment service and payment intermediary services. The following are the main substances revised by Circular No. 30/2016/TT-NHNN:
In order to implement the instructions of the Government concerning regulations on responsibilities of payment service providers and payment intermediary organizations for receiving information and claims from the customers, times and deadlines for resolving claims and requirements of customers, and reimbursement in case of payment risks arising, the SBV has comprehensively reviewed the applicable legal regulations and formulated Circular No.30/2016/TT-NHNN, dated November 14, 2016, to revise Circular No. 19/2016/TT-NHNN, Circular No.39/2014/TT-NHNN, Circular No.36/2012/TT-NHNN including items with regard to times for checking and making claims for specific services, as follows:
1. Bank card services:
- The Circular requires card-issuers to clarify regulations on the period for requesting any review, and claiming losses and errors arising during card usage by cardholders (no less than 60 days from the date of claimed transactions arising);
- Regulation on the time for card-issuers to resolve claims made by the cardholders (not exceeding 45 working days from the date of receiving the first claim from cardholders who have a BIN issued by the SBV; for those who have a BIN issued by the international card issuers, it shall be implemented on the basis of the agreement among card issuers and their customers in contracts of card-issuance and usage);
- Guidance for the implementation of the results of resolving claims by cardholders in normal situations:
Within a maximum of five working days from the date of announcing the results of resolving claims to customers, card-issuers are required to reimburse cardholders for losses arising which are not made by cardholders and/or are not cases of 'force majeure' in contracts;
In cases where the losses are caused by the relevant parties (card-payment institutions, card-switching institutions, etc.), loss makers will reimburse card issuers in line with agreements and laws; in cases where the date for claiming is over, as stipulated in the signed contract, the card-issuers shall have to negotiate with the cardholders on ways of dealing with the errors, or make a provisional reimbursement to the cardholders until the authorities reach an official conclusion.
- Guidance for the implementation of resolving claims in criminal cases: the authorities are responsible for resolving claim results. Where no crime has been detected, card-issuers and cardholders will agree a method for resolving claim results within 15 working days.
2. Regarding cheque-service provisions and cheque usage.
The circular stipulates the following:
- The cheque-provider institutions will have to announce specific regulations on time and deadline for customers to ask for the making of and investigating a claim. The time will not be shorter than 60 working days from the cheque being presented for payment.
- The deadline for cheque providers to review and resolve customer claims will last no more than 30 working days from the cheque providers receiving the first claim from customers.
- The circular states the guidance for resolving the results of reviewing the customers’ claims in common cases: The cheque providers may have to provide reimbursement/ refund within 5 working days if the errors were not on the customer's side. In cases where the cause of error can not be found, the cheque providers shall have to negotiate with customers on solutions for checking and resolving claims.
- Guidance for resolving the results of checking and dealing with customer claims in cases of detection of criminal violations: Responsibility for checking and resolving claims belongs with the assigned authorities. In cases where there is no detection of criminal factors, cheque providers shall have to negotiate with customers on solutions for dealing with customer claims within 15 working days.
3. Regarding intermediary payment services:
- The intermediary payment organizations shall have to announce specific regulations on times and deadlines for customers to request checking and for making claims. The time will not be shorter than 60 days from the initiation of the service of payment.
- The deadline for intermediary payment organizations to review and resolve customer claims will not last more than 45 working days from the organisations receiving the first claim from customers.
- The circular states guidance for resolving the results of reviewing customer claims in common cases: The service providers may have to provide the reimbursement/refund within 5 working days if the errors were not on the customer's side. In cases where the cause of errors can not be found, service providers will have to negotiate with customers on solutions for checking and resolving claims.
- Guidance for resolving the results of checking and dealing with customer claims in cases of detection of criminal violation: Responsibility for resolving the results of dealing with customer claims belong with the assigned authorities. In cases where there is no detection of criminal factors, the service providers will have to negotiate with customers on solutions for dealing with customer claims within 15 working days.
4. In addition, the circular also stipulates other procedures - such as methods and procedures for receiving any information or requests for checking and claiming - that service providers must comply with, including the presence of call-centres recording information 24 hours a day, 7 days per week, as well as posts of sale and a common method for making claims.
5. In order to ensure the implementation of all regulations, the circular stipulates specific regulations concerning those cases and agreements signed before the date of effect of the Circular. Specifically, service providers shall be responsible for making any announcements on the application of newly-effective circulars after agreement with customers in physical contract form and/or posted on their website; be responsible for rescinding any contracts with customers if necessary.
6. In addition, regulati ons on procedures for registering the form of newly-issued cards or changing the pattern of issued cards, as stipulated in Circular No.19/2016/TT-NHNN, will cease to be in effect and will be replaced by the announcement letter to be sent directly to the SBV.
The circular also abolishes the regulations on responsibilities of SBV municipal branches in acknowledging the registration of, installment of, changes of location, and determination of the operations of ATM's as stipulated in Circular No.36/2012/TT-NHNN, dated December 2012.
Circular No.30/2016/TT-NHNN takes effect from November 28, 2016.
MH – LH