This is the new content prescribed at the Circular No. 19/2016/TT-NHNN on bank card operation and takes effect on August 15, 2016.
Accordingly, the Circular prescribes that a person aged 6 to less than 15 years who does not have lack of legal capacity or limited legal capacity and obtain an authorization in writing made by his/her legal representative to permit him/her to use debit cards without overdraft facility and prepaid cards; ) an person aged 15 to less than 18 years who does not have lack of legal capacity or limited legal capacity and obtain an authorization in writing made by his/her legal representative to permit him/her to use debit cards without overdraft facility and prepaid cards; an person who is 18 years of age or older and has full legal capacity as prescribed by law is permitted to use debit cards, credit cards and/or prepaid cards.
For principal cardholders being individuals, any person who is 18 years of age or older and has full legal capacity as prescribed by law is permitted to use debit cards, credit cards and/or prepaid cards; and any person aged 15 to less than 18 years who does not have lack of legal capacity or limited legal capacity, and has his/her own assets to be taken as security in the card usage is permitted to use debit cards without overdraft facility and prepaid cards. For principal cardholders being organizations: Organizations legally established and operated under Vietnamese law, including: juridical persons, private enterprises shall be permitted to use all types of cards. The cardholder being organization may authorize a person to use the organization’s card on its behalf or use supplementary card.
