THE MAXIMUM LIMIT OF TRANSACTIONS VIA PERSONAL E-WALLET AT 1 SERVICE PROVIDER IS VND 100 MILLION/MONTH
The State Bank of Vietnam issues the Circular No. 23/2019/TT-NHNN on amending and supplementing a number of Articles of the Circular No. 39/2014/TT-NHNN, guiding on payment intermediary service
on November 22, 2019.
Accordingly, the maximum limit of transactions via personal E-wallet of 01 customer at 01 E-wallet service provider (including payment transactions for legal goods, services and money transfer transactions from an E-wallet account to another E-wallet account opened by the same E-wallet service provider) is VND 100 million per month. Except for the case individuals make contracts/agreements with E-wallet service providers to take the role of units accepting payment.
Especially, E-wallet service providers are not allowed to provide credit to customers using E-wallet accounts; pay interest on E-wallet balance or any action that may increase the monetary value in E-wallet accounts compared to the value of money deposited into E-wallet accounts by customers.
In addition, E-wallet service providers must provide instruments for the State Bank to supervise the provision of E-wallet services. The monitoring instruments shall be required to: Allow the monitoring of the total E-wallet accounts; Information about 10 E-wallet accounts with the highest number of transactions and 10 E-wallet accounts with the highest transaction value according to each type of customers...
This Circular takes effect on January 07, 2020.
