The procedure and process for issuing a bank code

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Circular 17/2015/TT-NHNN stipulates the procedure and requirements for issuing bank codes as follows:

- For units of the State Bank, when there is a need for a bank code, the unit must send a request for a bank code using Form Appendix 01 to the email address of the Informatics Technology Department (as published on the State Bank's Electronic Portal);

- For credit institutions (excluding people's credit funds), foreign bank branches, within 10 working days from the date the credit institution, foreign bank branch is granted an establishment and operation license (new establishment, merger, division, separation), the credit institution, foreign bank branch must send 01 set of application documents for a bank code to the email address of the Informatics Technology Department (as published on the State Bank's Electronic Portal). The application includes:- Request for a bank code using Form Appendix 01;- A copy of the establishment and operation license of the credit institution, foreign bank branch;- Request for an internet-managed bank code account using Form Appendix 04.

- For dependent units of credit institutions (excluding people's credit funds), within 10 working days from the date the establishment license is granted, the credit institution must send 01 set of application documents for a bank code to the Informatics Technology Department online. The application includes:- Request for a bank code using Form Appendix 01;- A copy of the establishment license of the dependent unit of the credit institution.

- For people's credit funds, within 10 working days from the date the establishment and operation license is granted, the provincial, city branch of the State Bank must prepare 01 set of application documents for a bank code to be sent to the Informatics Technology Department online. The application includes:- Request for a bank code using Form Appendix 01;- A copy of the establishment and operation license.

- For the State Treasury at all levels, when there is a need for a bank code, the State Treasury must prepare 01 set of application documents for a bank code to be sent to the Informatics Technology Department online. The application includes:- Request for a bank code using Form Appendix 01;- A copy of the establishment decision of the competent authority.

- For other organizations engaging in electronic data reporting and exchange related to the State Bank, when there is a need for a bank code, the unit must send 01 set of application documents for a bank code to the email address of the Informatics Technology Department (as published on the State Bank's Electronic Portal). The application includes:- Request for a bank code using Form Appendix 01;- A copy of the establishment decision of the competent authority.

Within 03 working days from the date of receipt of a valid application, the Informatics Technology Department issues the bank code and notifies the result online to the requesting unit. In case of refusal to issue a bank code, the Informatics Technology Department will notify the requesting unit online and provide a clear reason.

In necessary cases to serve for the reporting and electronic data exchange activities, the Informatics Technology Department proactively issues bank codes for the subjects stipulated at Point c Clause 1 Article 2 of this Circular.

For more details, see Circular 17/2015/TT-NHNN, effective from July 1, 2016.

Le Hai

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