With effect from 1 July 2025, as stated in Articles 16 and 17 of Circular 17/2024/TT-NHNN, the State Bank of Vietnam (SBV) requires mandatory biometric authentication for use of accounts, including but not limited to processing payments, by electronic means . As such, we are required to collect personal and biometric data of your Legal Representatives or their authorized representatives of corporate bank accounts (“Personal Data”) to complete the mandatory ID/passport and biometric verification.
For Vietnamese citizens, the process will take about 15 minutes comprising the following activities using a mobile application (”App”) that is developed by a third-party vendor, FPT IS Company Limited , which is a vendor approved by the Ministry of Public Security (“MPS”) in Vietnam:
- We will scan your national ID card to capture the front and back of the ID card.
- We will be performing a real-time face scan using the App’s camera.
Please note that the Personal Data will be collected and processed by the said vendor via the App, and further transferred to MPS in order to complete the mandatory ID/passport biometric verification.