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| E-wallet service providers are responsible for monitoring and supervising the use of their customers’ individual e-wallets__Photo: vtv.vn |
The State Bank of Vietnam (SBV) on July 17 issued Circular 40/2024/TT-NHNN to specify the maximum limit on transactions performed via e-wallets in Vietnam.
Accordingly, the total transaction limit via individual e-wallets of one customer at one e-wallet service provider, including money transfer and payment transactions, is VND 100 million per month.
The limit is applicable to e-wallet holders who use e-wallets to withdraw money from their e-wallets to VND accounts at the linked banks; transfer money to VND accounts opened at domestic banks or foreign bank branches; or transfer money to other e-wallets within the same system, which are opened by the same e-wallet service provider.
An e-wallet may also be used to transfer money to another e-wallet outside the system opened by another e-wallet service provider and pay for goods and services and fees and charges for legal public services as specified by law.
However, such limit will not be applicable to individual e-wallets of persons who have signed contracts or agreements to act as payment acceptance units with e-wallet service providers.
Online payments on the National Public Service Portal; payments for electricity; water; telecommunications; various fees, charges, and service payments related to road vehicles; tuition fees; hospital fees; social insurance, health insurance, and insurance premiums; and payment of due debts, overdue debts, interests and other costs incurred with domestic banks and foreign bank branches are not subject to the transaction limit either.
E-wallet service providers are responsible for monitoring and supervising the use of their customers’ individual e-wallets to ensure their compliance with the limit granted to those customers, and take full responsibility for the customers’ use of e-wallets beyond the granted limit.-
