Vietnam implements new non-cash payment rules for gold transactions

Effective October 16, 2026, Decree 390/2026/NĐ-CP has introduced new regulations for the gold business in Vietnam. The decree mandates that all gold purchases and sales with a daily value of 5 million VND or more must be conducted via non-cash payment methods. This is a significant reduction from the previous threshold of 20 million VND.

In response to these regulations, major gold retailers including Phu Quy, Bao Tin Minh Chau, Bao Tin Manh Hai, Mi Hong, and Ancarat have announced new transaction protocols. Many businesses now require customers to use bank accounts that match the identity information on their citizen identification cards to ensure compliance with anti-money laundering laws and to facilitate customer verification.

Accepted non-cash methods include bank transfers, checks, payment orders, bank cards, and e-wallets. These measures aim to increase transaction transparency, improve cash flow monitoring, prevent tax evasion, and support anti-money laundering efforts within the precious metals sector.