MONEY TRANSFER MUST BE COMPLETED WITHIN 01 DAY AFTER RECEIVING VALID DOCUMENTS
On December 31, 2019, the State Bank of Vietnam promulgates the Circular No. 38/2019/TT-NHNN on providing regulations on the provision of payment service without using customers’ payment accounts at public postal service providers.
Accordingly, if payment vouchers are valid, the service provider shall conduct to control information on money transfer forms and handle, complete the money transfer for customers within 01 working day from the date of receiving vouchers. Service provider of the money receiver shall be responsible for examining vouchers, accounting into the appropriate account and notify the beneficiary when the money transfer order arrives.
In addition, this Circular also prescribes time limit for service users for requesting for checking, complaint is at most 60 days, from the beginning day of checked transaction. Service provider shall return money for customer and compensate for damage caused by such organization within 05 working days from the date of notifying checking and complaint results.
This Circular takes effect on February 19, 2020
