Quyết định 48/2007/QD-NHNN

DECISION

PROMULGATING THE REGULATION ON COLLECTION OF PAYMENT SERVICE CHARGES VIA PAYMENT SERVICE-PROVIDING INSTITUTIONS

THE STATE BANK GOVERNOR

Pursuant to the 1997 Law on the State Bank of Vietnam and the 2003 Law Amending and Supplementing a Number of Articles of the Law on the State Bank of Vietnam;
Pursuant to the 1997 Law on Credit Institutions and the 2004 Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions;
Pursuant to the Governments Decree No. 64/2001/ND-CP of September 20, 2001, on payment via payment service providing institutions;
Pursuant to the Governments Decree No. 52/2003/ND-CP of May 19, 2003, defining the junctions, tasks, powers and organizational structure of the State Bank of Vietnam;
At the proposal of the head of the Payment Department,

DECIDES:

Article 1. To promulgate together with this Decision the Regulation on collection of payment service charges via payment service providing institutions.

Article 2. This Decision takes effect on April 1, 2008, and replaces the State Bank Governors Decision No. 448/2000/QD-NHNN2 of October 20, 2000, on collection of via-bank payment service charges.

Article 3. The director of the Office, and the head of the Payment Department, the director of the Banking Information Technology Department and the chief inspector, of the State Bank, heads of concerned units under the State Bank, directors the State Banks provincial/municipal branches and general directors (directors) of payment service-providing institutions shall implement this Decision.

REGULATION

ON COLLECTION OF PAYMENT SERVICE CHARGES VIA PAYMENT SERVICE-PROVIDING INSTITUTIONS
(Promulgated together with the State Bank Governors Decision No. 48/2007/QD-NHNN of December 26, 2007)

Chapter I

GENERAL PROVISIONS

Article 1. Governing cope

This Regulation applies to the collection and payment of payment service charges via payment service-providing institutions.

This Regulation does not apply to in-cash payment services.

Article 2. Subjects of application

Payment service-providing institutions;

Organizations and individuals conducting payment transactions via payment service-providing institutions (below referred to as customers for short).

Article 3. Application of international rules and practice in collection of payment service charges

1. With regard to international payment services, if a treaty to which the Socialist Republic of Vietnam has signed or acceded contains provisions different from those in this Regulation, the provisions of that treaty prevail.

2. Payment service-providing institutions licensed to provide international payment services may make agreements on the application of international customs and practice which do not contravene the law of the Socialist Republic of Vietnam.

Article 4. Payment service charge means a sum of money payable by a customer to a payment service-providing institution for a payment service provided by the latter.

Chapter II

SPECIFIC PROVISIONS

Article 5. Currency in which payment service charges are paid

1. For domestic payment in Vietnam dong:

The currency in which payment service charges are paid is Vietnam dong.

2. For payment to foreign countries or domestic payment in foreign currency: The currency in which payment service charges are paid may be Vietnam dong (VND) or US dollar (USD) or another foreign currency as agreed upon between payment service-providing institutions and customers, which, however, must comply with the law on management of foreign exchange.

Article 6. Documents used upon collection of payment service charges

1. Payment service-providing institutions shall make and supply charge receipts to charge payers in accordance with law.

2. Documents used upon collection of payment service charges must comply with the State Banks current regulations on accounting documents as well as legal provisions on accounting documents and goods sale and service invoices.

Article 7. Calculation and collection of value added tax (VAT) upon collection of payment service charges

1. The State Bank does not impose and collect VAT upon collection of payment service charges.

2. Payment service-providing institutions (except the State Bank) may calculate and add VAT upon collection of payment service charges in accordance with the tax law.

Article 8. Accounting of payment service charges

Payment service-providing institutions shall open accounting books for monitoring and reflecting the collection of payment service charges according to the States current accounting regime.

Article 9. Principles for setting payment service charge rates

1. Charge rates of payment services invested by the State must ensure the recovery of invested capital within a reasonable time limit, taking into account the state policy in each period.

2. Charge rates of payment services invested by organizations or individuals must ensure the recovery of invested capital and reasonable profit.

Article 10. Competence to set payment service charge rates

1. The State Bank Governor shall specify:

a/ Charge rates for payment services provided by the State Bank to customers:

b/ Charge rates for a number of payment services provided by payment service-providing institutions (except the State Bank) to customers, which must be unified for the purposes of implementation of the state policies and management of banking operations in each period.

2. General directors (directors) of payment service-providing institutions shall set service charge rates for payment services provided by their institutions to customers (except those services with charge rates set by the State Bank Governor according to his/her competence prescribed at Point b, Clause 1 of this Article).

Article 11. When promulgating or modifying its payment service charge table, a payment service-providing institution shall:

1. Notify (post up) fully and publicly that table at its transaction places.

2. Send that table within 15 days after its promulgation or modification to the State Banks Payment Department and Inspectorate for management and monitoring.

Article 12. Principles for collection of payment service charges

1. Payment service-providing institutions may collect charges from service users at the charge rates specified in their charge tables and may not collect any other charges (unless they are agreed with customers before the provision of payment services).

2. If customers request to cancel payment services or the provision of those services fails due to errors or incidents not at their fault, payment, service-providing institutions need not return the collected payment service charge amounts.

3. Payment service-providing institutions may not collect payment service charges for amounts (debts, interests, service charges, payments for purchase of printing papers or payment instruments) paid by customers directly to their units.

4. With regard to domestic payment transactions, payment service-providing institutions that serve payees may not arbitrarily collect payment service charges from the payees.

5. With regard to domestic payment transactions, payment service-providing institutions may not arbitrarily deduct amounts transferred by customers for the collection of payment service charges arising between them.

Article 13. Ways of collecting and paying payment service charges

1. Lump-sum collection: Payment service-providing institutions collect charges right at the time of providing payment services to customers.

2. Periodical collection: Periodical charge collection is made on the basis of agreements between payment service-providing institutions and customers. Periodically, payment service-providing institutions make payment service charge statements for customers in a period and take the initiative in making vouchers on customer account deductions (or issuing payment notices) in order to collect payment service charges, then send receipts and charge statements (printed or electronic) to customers according to regulations.

3. Payment service-providing institutions and customers may reach agreement on and select appropriate ways of collecting and paying charges in compliance with current legal provisions on accounting documents and relevant regulations.

Article 14. Collection and payment of payment service charges between payment service-providing institutions and customers

Payment service-providing institutions may reach agreement directly with customers on payment service charge-collecting and -paying units on the principle of equality, voluntariness and lawfulness. In case of unavailability of such agreement, the collection and payment of charges shall be conducted as follows:

1. With regard to domestic payment services:

a/ Supply of payment instruments: Payment service-providing institutions which supply payment instruments shall collect service charges from customers that need to use these instruments;

b/ Money transfer: Payment service-providing institutions which serve money transferors shall collect payment service charges from customers being money transferors;

c/ Authorized collection: Payment service-providing institutions which serve collection authorizes or money claimants shall collect payment service charges from customers being payees; payment service-providing institutions which serve payers shall collect payment service charges from customers being payers;

d/ Other payment services: Payment service-providing institutions which provide payment services to customers shall collect payment service charges from customers being service users.

2. With regard to international payment services:

a/ Outward remittance: Payment service-providing institutions which serve money transferors shall collect payment service charges from customers being money transferors;

b/ Inward remittance: Payment service-providing institutions which serve recipients shall collect payment service charges from customers being recipients;

c/ Authorization of foreign parties to collect foreign checks or currencies not up to circulation criteria or document sets for domestic customers: Payment service-providing institutions which serve payers or claimants shall collect charges from customers being payers or claimants for receiving, processing and sending documents abroad for authorized collection and settlement of authorized collection results;

d/ Collection under authorization by foreign parties: Payment service-providing institutions which serve payers shall collect charges from customers being domestic payers for the receipt of money and authorized collection and payment (transfer of money) abroad.

Article 15. Collection and payment of payment service charges between payment service-providing institutions

1. Between the State Bank and its customers:

The State Bank shall periodically collect payment service charges from its customers under the provisions of Clause 2, Article 13 of this Regulation.

The State Banks units providing payment services shall collect charges from customers being money transfer requesters (except for cases of mutual agreement on centralized charge collection at the State Banks Transaction Bureau).

2. Between payment service-providing institutions (except the State Bank):

Payment service-providing institutions may reach agreement with one another on the creation and payment of payment service charges with regard to amounts arising between them or they receive from each other directly or via payment systems.

Chapter III

IMPLEMENTATION PROVISIONS

Article 16. Responsibilities of concerned units

1. The head of the Payment Department shall guide the implementation of this Regulation.

2. The State Banks chief inspector, the director of the General Control Department shall inspect and supervise the implementation of this Regulation.

3. The director of the Banking Information Technology Department shall organize the creation and application of computer software for calculation and collection of payment service charges for the State Bank.

4. General directors (directors) of payment service-providing institutions shall guide and implement this Regulation at their own units.

Article 17. Handling of violations

Organizations and individuals violating this Regulation shall, depending on the nature and severity of their violations, be disciplined or administratively handled, and, if causing damage, pay compensation in accordance with law.