Latest regulations credit card holders need to know from 1-1-2025

(NLDO) - The maximum cash withdrawal limit for credit card holders is 100 million VND/month; the card can only be used for online transactions after biometric authentication...

This is one of the latest regulations on credit card operations stated by the State Bank in Circular 18/2024/TT-NHNN, effective from January 1, 2025.

Specifically, from January 1, 2025, card issuers will agree with cardholders on payment limits, transfer limits, cash withdrawal limits and other limits in card use in accordance with regulations.

From January 1, 2025, the maximum cash withdrawal limit for credit card holders (all card types) is 100 million VND.

For foreign currency cash withdrawal limit abroad, a card can withdraw a maximum of 30 million VND per day. For credit cards, the total maximum cash withdrawal limit is 100 million VND per month.

For prepaid cards, the card issuer shall specify the balance limit, top-up limit and transaction limit; ensuring that the balance at any time of an anonymous prepaid card shall not exceed VND 5 million.

The total transaction limit (including cash withdrawals, transfers, payment for goods and services) of an identified prepaid card must not exceed 100 million VND/month.

On the banks' side, VPBank has just updated the cash withdrawal limit of international credit cards. Accordingly, the total maximum cash withdrawal limit of Visa/Mastercard/JCB cards is 100 million VND/month. The maximum limit for cash withdrawal transactions at ATM/POS/QR code is 10 million VND/month. The maximum limit for cash withdrawal and installment transactions via phone/VPBank NEO is 90 million VND/month.

According to the State Bank, Circular 18 has a number of new policies to enhance security and safety in card operations, ensuring compliance with relevant legal regulations.

In addition to the maximum cash withdrawal limit of the credit card, cardholders are only allowed to make online transactions after completing the verification process to ensure that their identification documents and biometric information match.

Currently, banks are urgently supporting customers to complete biometric authentication to avoid interruption of online transactions via cards and bank accounts after January 1, 2025.

Source: https://nld.com.vn/quy-dinh-moi-nhat-chu-the-tin-dung-can-biet-tu-1-1-2025-196241219104014254.htm