Financial Markets Daily ewallet transaction limit lifted The Saigon Times Daily Monday, Dec 2, 2019,14:18 (GMT+7) Daily ewallet transaction limit liftedThe Saigon Times Daily Each e-wallet is now subject to a monthly transaction cap of VND100 million – PHOTO: VNA HCMC – The State Bank of Vietnam has lifted a regulation prohibiting e-wallets from processing transactions worth more than VND20 million (US$860) per day, but deposits into ewallet accounts must still be made from bank accounts. The central bank recently issued Circular 23 with amendments to Circular 39, guiding intermediate transaction services. According to the new circular, instead of banning daily transactions larger than VND20 million, a monthly transaction cap of VND100 million (US$4,300) will be set. Users are still required to make deposits into ewallets through bank accounts or ATM cards and can only receive transfers from ewallets owned by the same service provider. Moreover, users are banned from using ewallets for money laundering, terrorism sponsorship, scams and other violations. The lending and borrowing of ewallets or the buying and selling of ewallet information are now also permitted. As the drafting board of the circular had announced earlier, ewallet users must show ID to avoid potential fraud. At the 2019 Vietnam Retail Banking… Read full this story
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