Banks to discontinue passport-based transactions from 2026
VGP - From January 1, 2026, domestic banks will no longer accept passport-based transactions for Vietnamese customers, according to Circular 17/2024 of the State Bank of Viet Nam, dated June 28, 2024 on the opening and use of payment accounts.
Starting January 1, 2026, domestic banks will no longer accept passports as valid identification for Vietnamese citizens in any transactions, including payments, cash withdrawals, or card services - Illustration photo
Under the new regulations, domestic customers must use a chip-based ID card, a standard ID card, or a level-2 electronic ID for identity verification.
Passports will no longer be considered valid identification documents for banking procedures including payments, cash withdrawals, or card services
The move aims to ensure accuracy, strengthen fraud and forgery prevention, and standardize data across the entire banking system.
In addition, from 2026, banks will only allow transactions after customers successfully authenticate their personal information and biometric data.
Earlier, since July 1, 2024, biometric verification of facial recognition has been be required to finalize online banking transactions of VND10 million (US$391) or more./.
