Dear Valued Customers,

First and foremost, We, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), would like to extend our gratitude for your trust and your continued support over the years.

We are writing to inform you of an important new regulation issued by the State Bank of Vietnam (SBV) under Circular No. 17/2024/TT-NHNN. This regulation requires the following updates to be completed by specific deadlines:

(i) For Institutional Customers:  Please ensure that the identity documents (ID) of the following individuals are up-to-date and valid before January 1, 2025: Legal representative, Chief Accountant/Person in charge of accounting, and authorized users of the payment account, including users on digital banking services. Failure to update this information may result in the temporary suspension of fund transfers and withdrawals at the counter and through digital banking services.

(ii) The legal representatives of the institution must update their biometric information before July 1, 2025. If this update is not completed, the bank may temporarily suspend fund transfers and withdrawals through digital banking services for Institutional Customers.

To ensure seamless transactions, Vietcombank kindly requests your cooperation in complying with Circular No. 17. Please follow these steps:

A - To update identity document information:

- Step 1: Collect information + copies of valid personal identity documents related to the Institutional Customer

- Step 2: Customer and related persons fill in the forms to update valid indentity documents following specific instructions at VCB's branch

- Step 3: Customer and related persons send signed/stamped documents and copies valid personal identity documents to VCB

B - To update the biometric information of the legal representative:

- For the legal representative is using VCB Digibank: Update biometric information on VCB Digibank app

- For the legal representative has not yet used VCB Digibank: Update biometric information at any VCB branch nationawide

We would like to emphasize that this regulation is designed to enhance the security and safety of your payment account, helping to prevent fraud and identity theft, such as transferring funds to account rented, sold, or borrowed by scammers. By complying with these requirements, you can protect yourself from potential financial losses.

Thank you for your prompt attention to this matter.