Vietnam Banking Rules Push Customers to Chip IDs and VNeID
2025-11-28CC-BY-4.0national-eiddigital-idbiometric-id-cards
Vietnam’s central bank is tightening know-your-customer (KYC) rules for banks and payment firms, effectively steering customers toward chip-based ID cards and the VNeID digital identity app for account opening and remote transactions.
- New regulations require banks and payment institutions to authenticate customers against the national population database using chip-based ID cards or VNeID.
- The shift aims to reduce manual ID checks and improve remote onboarding and transaction security.
- Legacy paper ID documents become less usable for high-assurance financial services as the rules take effect.