05 Cases of Withdrawing BIN Codes Issued to Bank Card Issuing Organizations

16:13, 09/07/2024

Recently, the Governor of the State Bank of Vietnam has just signed and promulgated Circular 26/2019/TT-NHNN amending and supplementing several articles of the Regulation on issuance, use, and management of bank card issuer codes, issued together with Decision 38/2007/QD-NHNN dated October 30, 2007, of the Governor of the State Bank of Vietnam.

The State Bank of Vietnam revokes the Bank Identification Number (hereinafter referred to as BIN) issued to the card issuer when one of the cases stipulated in Article 8 Decision 38/2007/QD-NHNN as amended by Clause 4 Article 1 Circular 26/2019/TT-NHNN occurs as follows:

case of BIN code revocation, Circular 26/2019/TT-NHNN

Illustrative image (source: internet)

- When discovering that the information or evidence in the BIN application dossier is inaccurate or misleading;- The card issuer is dissolved, declared bankrupt, or terminates operations;- After the deadline prescribed in Clause 2 Article 7, the card issuer does not put the BIN into use;- After the deadline prescribed in Clause 4 Article 7, the card issuer does not send a written notice to the State Bank of Vietnam about termination of BIN usage not selected, except for the cases specified in Clauses 5 and 6 Article 7 of this Regulation;- Using the BIN for purposes other than those stated in the BIN issuance application.

The BIN revocation document from the State Bank of Vietnam is sent to the card issuer, except in cases of revocation when the card issuer is dissolved, declared bankrupt, or terminates operations.

See the full text of the regulations in Circular 26/2019/TT-NHNN effective from March 1, 2020.

Thu Ba

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