Southeast Asia Information Port (www.dnyxxg.com) reports that Vietnam will officially implement new regulations for real-name management of payment accounts starting April 1, 2026. These regulations require all payment account names to be completely consistent with the information on a citizen's ID card or other identification document, thereby further enhancing the security, confidentiality, and reliability of payment transactions.
According to Notice No. 30/2025/TT-NHNN of the State Bank of Vietnam (amending and supplementing certain provisions of Notice No. 15/2024/TT-NHNN to regulate non-cash payment services), this unified regulatory requirement for account names and identification document information aims to strengthen the security of the non-cash payment environment and prevent transaction risks.
The new regulations clarify that payment service institutions must strictly review payment instructions to ensure their legality and validity. Agreements related to the opening and use of payment accounts must guarantee the accuracy of account numbers, account names, and other information, and these must be fully presented in transaction and payment vouchers.
After the implementation of this regulation, all banks will completely cease providing customers with account nickname (iNick) settings. Account nicknames are personalized names set by users in addition to their official bank account numbers. While easy to remember and concise, they can easily lead to transfer errors and pose certain security risks in practice.
Several banks stated that discontinuing the account nickname service will not affect customers' account balances or normal usage rights. Account fund security will remain fully guaranteed, and the original account number and related functions will remain unchanged.
After the new regulations are implemented, customers will uniformly use their original account numbers when conducting transfers and receiving payments. They will need to update their receiving information on relevant platforms promptly to avoid transaction interruptions.
Industry insiders believe that unifying account names and identification information will effectively reduce transfer errors and improve the transparency of the payment system. In the context of the rapid popularization of non-cash payments, tightening account name management is a necessary measure that will help continuously improve the security and public credibility of banking services. (End)
