This is a notable new regulation in Circular 28/2019/TT-NHNN amending and supplementing Circular 19/2016/TT-NHNN regulating banking card activities.
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Clause 5, Article 1 of this Circular allows persons from 15 years old to under 18 years old who are not deprived or restricted in civil act capacity to use debit cards, credit cards, and prepaid cards.
Currently, according to Point b, Clause 3, Article 16 of Circular 19/2016/TT-NHNN, persons from 15 years old to under 18 years old who are not deprived or restricted in civil act capacity can use various cards such as credit cards and debit cards. However, this must be agreed upon in writing by their legal representative.
Moreover, according to Clause 1, Article 136 of the Civil Code 2015, parents are the legal representatives of their minor children.
Hence, from April 1, 2020, persons from 15 years old to under 18 years old, who are minors according to Clause 4, Article 21 of the Civil Code 2015 and are not deprived or restricted in civil act capacity, will be able to independently decide to use credit cards, debit cards, and prepaid cards without the need for the consent of their parents.
Additionally, Circular 28/2019/TT-NHNN also redefines the usage scope of credit cards and anonymous prepaid cards. Specifically, Clause 6, Article 1 of this Circular stipulates as follows:
- Credit cards are used for payment of goods and services; loading, withdrawing cash according to the agreement between the cardholder and the card issuer; not to be used for transferring (or crediting) to payment accounts, debit cards, prepaid cards;- Anonymous prepaid cards are only used for payment of legal goods and services at point-of-sale devices within the territory of Vietnam; not to be used for card transactions on the Internet, mobile application programs, and not for cash withdrawal. The loading of money onto anonymous prepaid cards must comply with the provisions of Clause 2, Article 14 of Circular 19/2016/TT-NHNN.
See more revisions and supplements of Circular 28/2019/TT-NHNN HERE.
Toan Trung
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