Banks stop processing instant 24/7 transfers for transactions about VNĐ500 million

Banks stop processing instant 24/7 transfers for transactions about VNĐ500 million

All transfers exceeding the threshold will be automatically routed through regular clearing, the bank said in a statement. Transactions initiated after 3.55pm will be processed on the next working day.

A customer has transactions via VCB Digibank App. Banks are stopping processing instant 24/7 transfers for transactions about VNĐ500 million. — VNA/VNS Photo

Vietnam Maritime Commercial Joint Stock Bank (MSB) said it stops processing instant 24/7 transfers for transactions above VNĐ500 million (US$20,000) from May 1, shifting such payments to standard processing that take at least four hours or until the next working day.

Specifically, all transfers exceeding the threshold will be automatically routed through regular clearing, the bank said in a statement. Transactions initiated after 3.55pm will be processed on the next working day.

MSB said the move aligns with regulations from the State Bank of Vietnam on payment services and is aimed at strengthening system safety.

Previously, banks could split large-value instant transfers into smaller transactions below VNĐ500 million to ensure immediate processing via the national switching system operated by National Payment Corporation of Vietnam.

Other banks, including Eximbank Vietnam, TPBank and VPBank, have also announced similar measures.

The changes follow an amended circular on intermediary payment services, effective November 2025, which caps transactions processed through the central bank’s electronic clearing system at VNĐ500 million. Transactions exceeding this limit must be handled through standard channels, with longer processing times. 

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