Vietnam Banks to Suspend Transactions for Expired IDs and Missing Biometrics from 2026

Overview

From 2026, major Vietnamese commercial banks including BIDV (BID), Vietcombank (VCB), VietinBank (CTG), Agribank, MB (MBB), and VPBank (VPB) will suspend transactions for accounts with expired identification documents or incomplete biometric verification, per State Bank of Vietnam (SBV) regulations. This move, mandated by Circulars 17/2024/TT-NHNN and 18/2024/TT-NHNN, aims to strengthen payment security and customer identity verification.

Key Facts

• The suspension applies to all transaction channels: over-the-counter, online (app/web), and ATM/POS.
• Individual accounts with expired ID documents (CMND, CCCD, or passport) will be frozen until updated.
• Accounts lacking biometric data (face, fingerprint) will be restricted from online transactions.
• Foreign individuals with expired residency documents will also face transaction suspensions.
• Corporate accounts will be suspended if the legal representative or chief accountant’s ID is expired.
• The regulations are based on SBV Circulars 17/2024/TT-NHNN and 18/2024/TT-NHNN.
• Affected banks include BIDV, Vietcombank, VietinBank, Agribank, MB, and VPBank.

What Happened

According to a Vietnamese news report, starting in 2026, several major commercial banks will enforce new regulations requiring customers to update their identification documents and biometric data. The SBV has mandated that banks suspend all transactions for accounts that do not meet these requirements. The report outlines five specific scenarios leading to transaction suspension: three for individual customers (expired ID, incomplete biometrics, expired residency for foreigners) and two for corporate customers (expired ID of legal representative or authorized user).

The banks are implementing these changes in accordance with Circulars 17/2024/TT-NHNN and 18/2024/TT-NHNN, which aim to enhance security and ensure accurate customer identification. The report emphasizes that customers must urgently update their information to avoid disruption. The SBV has also directed credit institutions to ensure payment operations are not interrupted during the transition.

Market Context

As of August 18, 2026, BIDV (BID) closed at VND 36,000 on HOSE, Vietcombank (VCB) at VND 58,000, VietinBank (CTG) at VND 31,550, and VPBank (VPB) at VND 24,900. The banking sector has been under regulatory scrutiny to improve security and compliance, and this new rule adds operational requirements that could impact customer activity and transaction volumes. However, the long-term effect is likely positive for system integrity, reducing fraud and enhancing trust in digital banking.

Strategic Significance

For long-term investors, this regulation underscores the SBV’s commitment to modernizing the banking sector’s security infrastructure. Banks that efficiently manage the customer data update process may see reduced operational risks and improved customer trust. Conversely, banks with large customer bases or outdated systems could face temporary disruptions and increased compliance costs. The move aligns with Vietnam’s broader digital transformation agenda and may accelerate the adoption of biometric authentication across the financial system.

What to Watch

• Q3 2026 earnings reports from affected banks for any impact on transaction volumes or fee income.
• Customer update completion rates and any announcements of extended deadlines.
• SBV guidance on handling accounts that remain non-compliant after the deadline.
• Potential fines or penalties for banks that fail to enforce the regulations.
• Market reaction to any operational disruptions reported by major banks.