Customers who lose money in their accounts will be compensated.

Within a maximum of 5 working days from the date of notification of the results of the investigation and complaint to the customer, the card issuer must compensate the cardholder according to the agreement and regulations of current law for losses arising not due to the fault of the cardholder.

This is one of the notable points in Circular No. 30/2016/TT-NHNN dated October 14, 2016, supplementing a number of regulations on the provision of payment services and payment intermediary services (Circular 30) that the State Bank has just issued. This Circular takes effect from today (November 28).

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The Circular also stipulates that in case of loss arising from the fault of related parties (payment intermediary organization, card switching organization, international card organization, card acceptance unit), the at-fault party shall make compensation to the card issuing organization according to the agreement between the parties in accordance with the provisions of law.

In case the time limit for handling the request for investigation and complaint as agreed in the card issuance and usage contract has expired but the cause or fault of the party has not yet been determined, within the next 15 working days, the card issuing organization shall negotiate with the cardholder on a solution. Or, temporarily compensate the cardholder for the loss until the final conclusion of the competent authority clearly defines the fault and responsibility of the parties.

In cases where there are signs of crime, the handling of the investigation and complaint results is the responsibility of the competent state agency. In case there is no criminal element, the card issuing organization will negotiate with the cardholder on a plan to handle the investigation and complaint results within 15 working days...

Circular 30 stipulates that payment intermediary service providers must specify the time limit for customers to request an investigation or complaint (no less than 60 days from the date of the transaction requesting the investigation or complaint). Regulations on the time limit for handling investigations and complaints by payment intermediary service providers (no more than 45 working days from the date of receiving the first investigation or complaint request from the customer). Service providers must make compensation within no more than 5 working days if it is not the customer's fault...; if it is not possible to determine which party is at fault, the time limit is 15 working days, and the service provider must agree with the customer on a plan to handle investigations and complaints.

For the service of providing and using checks, the State Bank stipulates that check providers must specify the time limit for customers to request inspections and complaints (not less than 60 days from the date of presentation for payment of checks). Time limit for handling checks and complaints of check providers (not more than 30 working days from the date of receiving the first request for inspection and complaint from customers).

For normal complaints, the check provider must make compensation within no more than 5 working days if it is not the customer's fault...; in case it is not possible to determine which party is at fault, the time limit is 15 working days, the check provider must agree with the customer on a plan to handle the investigation and complaint.

In case of criminal signs, the handling of the investigation and complaint is the responsibility of the competent state agency. In case of determining that there is no criminal element, the check provider must reach an agreement with the customer on a plan to handle the investigation and complaint within 15 working days.

According to Do Huyen/baotintuc