Vietnamese banking and regulatory updates

Vietnamese financial institutions and regulators are implementing various operational and regulatory updates. In late August 2026, VietinBank announced a nationwide update to ATM and RATM withdrawal processes, requiring users to retrieve cards before cash is dispensed to enhance security. During this period, BIDV also introduced a new service fee schedule, and VietinBank planned to implement a method to freeze funds for unpaid card-related fees.

In September 2026, the State Bank of Vietnam (SBV) moved to refine foreign currency transactions between the central bank and credit institutions. Draft amendments to Circular 26/2021/TT-NHNN sought to increase operational flexibility by allowing legal representatives or authorized delegates to sign transaction requests, rather than requiring specific high-level titles. This proposal followed feedback from several banks, including Eximbank, VietinBank, Agribank, and Standard Chartered, regarding the need for authorization mechanisms that align with diverse corporate governance models. The draft also proposed penalties for late payments—set at 150% of applicable overnight interest or lending rates—and a three-month suspension of foreign currency transactions for institutions that fail to meet reporting requirements three or more times within three consecutive months.

Following these developments, the SBV issued Circular No. 48/2026/TT-NHNN to officially amend regulations for foreign currency transactions between the SBV and authorized credit institutions. The new circular aligns with government decrees regarding the SBV’s organizational structure, transferring responsibilities for guiding foreign exchange transactions to the Foreign Exchange Management Department. Additionally, the circular simplifies administrative procedures by reducing the timeframe for processing registration dossiers for establishing foreign exchange transaction relationships from seven days to four days.