HCMC – Commercial banks in Vietnam began banning the use of account aliases and nicknames today, mandating that all account names must strictly match clients’ citizen identification.
This change follows the enforcement of the central bank’s Circular No. 30/2025/TT-NHNN, effective April 1, which amends previous regulations on non-cash payment services. The move aims to eliminate transaction confusion, reduce the risk of erroneous transfers, and enhance the overall transparency and safety of the national banking system.
Under the new regulation, payment service providers are responsible for verifying that account numbers and holder names align perfectly with original account opening agreements.
This effectively wipes out popular features of nicknames previously offered by several lenders to help customers personalize their accounts. While these features offered convenience, banking representatives noted that identity verification must rely on legal data, such as ID cards, to ensure absolute security.
Customers are advised to proactively update their payment information on e-commerce platforms and third-party apps to avoid transaction disruptions. From today, any transfer attempt using a nickname instead of a registered legal name may result in a failed transaction or system error.
Furthermore, Circular 30 introduces stricter protocols for suspicious activities, requiring financial institutions to promptly report any signs of criminal transactions to the authorities while notifying the affected customers. In cases where no violations are found, banks must resolve all related complaints and traces within 15 days of the conclusion.
