Vietnam's State Bank adds optional 24‑hour hold for transfers over 400 million dong

The State Bank of Vietnam clarified that a new rule, effective 1 March 2027, will allow a 24‑hour waiting period for large electronic transfers exceeding 400 million VND. The delay is not mandatory for all transactions; it applies only when customers do not set their own limits. Banking service providers must implement a feature that lets individual account holders choose a transfer‑amount ceiling and an optional hold time. The default setting will impose the 24‑hour hold on transfers above the 400 million‑dong threshold, but customers can adjust or cancel the service at any time.

The hold is triggered only for transfers to beneficiary accounts that have not received a payment of the same or higher value in the preceding year. According to Phạm Anh Tuân, Head of the Payments Department at the State Bank, the measure acts as a “brake” against high‑value fraud by giving recipients and senders time to verify details before funds are released. The policy aligns with international practices aimed at strengthening digital payment safety.