(NLDO) – Many users are worried that their ATM cards (physical cards) cannot withdraw money at ATMs and make card transactions at POS machines because they have not been biometrically authenticated.
Mr. Ngoc Do (residing in Go Vap District, Ho Chi Minh City) reported that for many years, he has received his salary through his bank account and often uses his ATM card to withdraw money at ATMs, rarely using his bank account for payment transactions or online shopping.
Recently, when he heard that ATM cards could be stopped from withdrawing money at the machine if they did not update their biometric authentication, he felt very worried.
Many older people, who are less up-to-date with technology, are also concerned about the State Bank's regulations regarding mandatory biometric authentication updates after January 1, 2025 to continue transactions and payments via ATM cards.
According to the investigation of the reporter of Nguoi Lao Dong Newspaper, the State Bank has just issued the latest document No. 9913/NHNN/TT guiding the content of card transactions by electronic means.
Accordingly, online payment transactions and cash withdrawals at ATMs are considered electronic card transactions (excluding the use of physical cards to withdraw money at automated teller machines) and transactions at card acceptance devices at points of sale (POS machines) are not considered electronic transactions.
Users using ATM cards (physical cards) will still be able to withdraw money at ATMs and make transactions at POS machines after January 1, 2025.
Vietcombank's representative explained that with the new updated regulations of the State Bank as above, from January 1, 2025, customers who have not updated their biometric information can still use their physical cards to withdraw money at ATMs and make transactions at POS machines.
Other customer card transactions that will be suspended include: online card payment transactions; cash withdrawal transactions using QR codes at ATMs; and other electronic card transactions.
Therefore, Vietcombank recommends that customers update their biometric information as soon as possible to ensure safety and security when making banking transactions.
Banks encourage customers to update biometrics early to avoid disruption of online transactions after January 1, 2025.
If the customer has not updated a new identification document to replace the expired identification document (ID card, CCCD, Passport, visa), the transaction will be temporarily suspended at all channels (counter, online, ATM).
In recent days, not only commercial banks but also MoMo, Zalopay wallets, and securities company applications have continuously recommended users to update biometric authentication soon to avoid transaction interruptions after January 1, 2025.
Some banks are open all weekend to support customers, avoiding congestion and local congestion as happened in July 2024 (biometric authentication is required for online transactions of VND 10 million or more or total transactions of over VND 20 million/day).
According to security experts, biometrics is considered a positive step forward to help reduce risks and protect users from fraud and scams.
For transactions requiring biometric authentication, in addition to the authentication method using Smart/SMS OTP code, customers must compare the actual facial image of the person performing the transaction to ensure it matches the data stored in the chip of the chip-embedded CCCD.
From there, it helps to minimize the tricks of impersonation fraud, gaining access to devices or stealing information to appropriate assets...
Source: https://nld.com.vn/sau-1-1-2025-the-chua-xac-thuc-sinh-trac-hoc-co-rut-duoc-tien-tu-may-atm-196241216094045656.htm
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