Issuance of Credit Cards to Persons Aged 15 without Collateral

18:46, 10/07/2024

This is a new point mentioned in Circular 26/2017/TT-NHNN amending and supplementing several articles of Circular 19/2016/TT-NHNN stipulating banking card activities.

Circular 26 specifically allows individuals aged between 15 and under 18 who are not incapacitated or have limited civil capacity to use debit cards, credit cards, and prepaid cards.

(Current regulations allow this but require individuals aged 15 to under 18 to have their own assets as a security measure).

Additionally, Circular 26 specifies several new provisions regarding the card user groups, including:

- Allowing individuals aged 6 to under 15 to use debit cards and prepaid cards as supplementary cardholders, provided there is written consent from their legal representative;- Permitting foreigners to use bank cards on the condition that they have been authorized to reside in Vietnam for a period of 12 months or more.

Circular 26/2017/TT-NHNN takes effect from March 3, 2018.

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