The requirement is stipulated in Circular No. 30/2025/TT-NHNN, issued by the State Bank of Vietnam, which amends and supplements a number of provisions under Circular No. 15/2024/TT-NHNN governing non-cash payment services.

Banks have affirmed that the removal of nickname services will not affect customers’ account balances or usage rights.

Under the new regulation, banks will discontinue services that allow customers to assign nicknames, or “iNick”, to their accounts.

Such nicknames, chosen by customers alongside their official account numbers, have been used to personalise account details, making them easier to remember and use. However, they have also led to unintended issues, including mistaken transfers.

Banks have affirmed that the removal of nickname services will not affect customers’ account balances or usage rights. Funds will remain intact, and official account numbers, along with associated services, will remain unchanged. Customers will instead use their registered account numbers for all transactions.

However, account holders are advised to update their payment details across relevant platforms to avoid disruptions.

The requirement to align account names with official identification is expected to reduce errors and improve transparency within the payment system.

The tightening of regulations on account naming is seen as a necessary step amid the rapid expansion of cashless payments, contributing to greater reliability and security for banking service users.

Vietnam adopts mandatory biometric authentication for new bank cards

The circular mandates that card issuers must conduct a face-to-face meeting and match the biometric data of individual customers or the legal representative of institutional customers with their identity documents.

 

Banks adjust account management fees from December 1

Many banks are applying fees based on minimum balances and account activity, while tightening SMS Banking charges to encourage customers to receive balance-change notifications via mobile apps – a free method that also helps reduce operational costs.

 

Bac Ninh FC win opening tie in LPBank national cup qualifiers

BAC NINH – Bac Ninh FC beat Van Hien University 1-0 in the opening round of the LPBank National Cup 2025-2026 qualifiers at Thong Nhat Stadium on September 14, securing a place in the last 16.

Vietnam enforces 8% capital adequacy ratio for banks from September 15

From September 15, commercial banks and foreign bank branches must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital.

 

Viet Nam's growth to remain resilient: World Bank

Viet Nam’s economy expanded by 7.5% in the first half of 2025, one of the fastest rates in the region, reflecting strong momentum despite continued global uncertainties, according to the latest Viet Nam Economic Update by the World Bank (WB), released on September 8.

 

Banking sector lower lending rates

Lending rates continue to fall, with the average new rate now at 6.23%, down 0.7 percentage points since late 2024, easing access to credit and supporting economic growth.