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CARD SERVICE
Introduction
- Bank for Foreign Trade of Vietnam (Vietcombank) is the first one carrying out card service in Vietnam. Thanks to its country-wide network of correspondents, automatic card payment system in combination with automate information management, payment activities via Vietcombank are processed quickly, precisely, safely and efficiently. The Bank, therefore, always maintains its leading position in international card payment market of Vietnam. - Vietcombank is an official member of the two globally prestigious card organizations VISA/MasterCArd. We are a full agent of JCB international Card Company as well as American Express in Vietnam. - Vietcombank is not only the largest agent of various international card in Vietnam but also is the Bank who directly issues and settles cards. Vietcombank Credit Card – VISA and Vietcombank-MasterCard provide customers with much convenience in paying goods and services and in withdrawing cash within the country and foreign countries as well. - Actually, over the past years, Vietcombank Credit Card is used widely since this is a safe and modern payment instrument and especially it contributes to increase individual prestige on transactions.
Agent for card payment
· If you have VISA, MASTERCARD, JCB and AMERICAN EXPRESS cards, you can pay for goods and services quickly and conveniently at nearly 2000 card payment agents of Vietcombank as Hotels, Restaurants, tourist centers, shops, supermarkets, booking offices... Particularly for VISA, MASTERCARD and JCB cards, you are able to easily withdraw in cash at offices of Vietcombank. · Conditions for participating card payment network of Vietcombank: all individuals and agencies who supply goods and services in Vietnam can become Card acceptance Agent for Vietcombank.
Issuance and payment of Vietcombank Credit Card
Who should use Credit Card?
In order to avoid possible risk of bringing with a large amount of cash, especially for those often go for business abroad or who have relatives and children studying or having disease treatment in foreign countries, you are kindly advised to use credit card. Using credit card, you can also easily manage expenditures of yourself and your relatives.
Benefit and Convenience of using credit card
- Credit card can be used to buy goods and services at more than 20 million places and to withdraw cash at some 1 million cash payment places and from ATM in Vietnam and other countries in the world as well. - Though International credit card is in VND, you still can use it for payment or withdrawal in foreign currencies in foreign countries and refund to Vietcombank in VND. - You are allowed to “expense first and pay later” during a non-interest favorable time of 10-45 days. This means that you can improve fund utilization efficiency since you can spend while your money is still deposited at the Bank for interest. - You only have to pay in advance 20% of the balance at the end of the period with short-term interest rate for the unpaid balance. If you pay the whole balance, you are exempt for interest of balance arose during the card period. - You are provided with customer services the whole day 24/24h. - In case you loose your card or forget password: you only have to inform the Card Center or our branches all over the country in order for us to stop all transactions on this card. If you forget your personal identification number (PIN), you can request Vietcombank to re-provide you with your PIN (since we do not inform customer PIN through telephone).
Cards
- In order to facilitate customers, Vietcombank also issues maximum 2 supplementary cards to the main card owner.
+ Personal card: Person who names to issue the card is responsible to pay the Bank. The main card owner can request the Bank to issue maximum 2 supplementary cards for his relatives. + Personal card authorized by companies: A company applies to issue cards and authorizes its staff to use it. The company is responsible to pay the Bank.
- Vietcombank issue VISA/Master Card on two limits: the Yellow Card with the limit from VND 50 million to VND 90 million; the Silver Card with the limit from VND 10 million to VND 50 million.
Features:
- Vietcombank issues international VISA/Master Card with all features compliant with international standards of VISA and Master Card Organizations.
Conditions for international credit card issuance?
- You are Vietnamese citizen or foreigner who is living and working legally in Vietnam, more than 18 years old, not under court punishment or accused penal offence. - If you are foreigner in Vietnam, you are required to have a certain working time remained and to live in Vietnam for a period of card time plus 40 days. - The following conditions should be met: + Personal card authorized to use by a company: the Company must be in good financial situation, with no overdue loan to Vietcombank. It also has to meet all regulations on loan guarantee. + Personal card: the holder must have a stable job and income, collateral, deposit or be able to satisfy non-collateral borrowing conditions in accordance with Vietcombank's regulation.
* Guideline
Procedure:
- You are kindly requested to submit to Vietcombank card issuance documents provided with precise information and necessary documents as: ID card, Passport, two pictures of 4 x 6 in case of Visa card, employment contract (if any) and deposit/pledge documents (if required). + Application for credit card issuance (form enclosed) + Credit Card utilization Contract (form attached) + Terms and conditions (form enclosed)
Card utilization:
- Cards can be used to pay for goods and services at card acceptance units where present symbols of VISA/Master or on Internet and withdraw advance cash at ATM and cash supplying places. - For every payment and advance withdrawal in cash, cardholder should keep receipt to facilitate reviewing/checking when required. - Cardholders are responsible to preserve the cards, information on it and personal identification number (PIN). In case of loss or thought to be disclosed of information, cardholder should inform Vietcombank immediately. - In terms of payment on Internet, cardholders should pay attention to payment conditions and safeguard rules of the visited Web. - All transactions on the card by its holder shall be updated and monthly statement shall be sent to cardholder. - In case of loosing card or facing difficulties, cardholders should contact Vietcombank: 84 4 8245716; 8243524 for guidance and assistance.
Refunding
You can refund to the Bank in the following forms:
- Opening account at Vietcombank for automatic refunding - Card payment licensing service 24/24; 7 days/week; 365 days/year. - VISA ELECTRON Card payment - Cash advance at counters of the Bank, correspondent banks, cash advance places and several authorized hotels. - Card payment in electronic commerce, on Internet.
Service products in future
In order to set up a non-cash payment environment and to develop card issuance and payment in Vietnam, in the coming time, Vietcombank shall implement: International automatic withdrawal card system (ATM): provides domestic and oversea customers with cash withdrawal and other services as remittance, single payment...
Contact Address:
- Vietcombank Card management 198 Tran Quang Khai, Hoan Kiem, Hanoi Tel: (84 4) 8243 524 - 8245 716 Fax: 8254 125 Telex: 411 333 VCB VT Email: tttvcb@vietcombank.com
- Card payment Department - Operation Centre 23 Phan Chu Trinh, Hoan Kiem, Hanoi Tel: (84 4) 8243 260 - 9331 121 Fax: Email: thesgd@vietcombank.com
- Vietcombank Ho Chi Minh Branch 29 Ben Chuong Duong, District I, Ho chi Minh City Tel: (84 8) 8 216 221 Fax: 8 217 615 Email: thehcm@vietcombank.com
- Accounting or Service Business Division at Vietcombank Branches
* Banking Service Division - Vietcombank Hanoi Branch 78 Nguyen Du - Hanoi Tel: (04) 9423 031 - 9424 034
* Service Business Division - Vietcombank Hai Phong Branch 11 Hoang Dieu - Hai Phong Tel: (31) 841 115
* Accounting Division - Vietcombank Quang Ninh Branch 172 Le Thanh Tong - Ha Long - Quang Ninh Tel: (33) 823 364 * Accounting Division - Vietcombank Thai Binh Branch 6 Le Loi - Thai Binh - Vietnam Tel: (36) 836992
* Accounting Division - Vietcombank Vinh Branch 9 Nguyen Sy Sach - Vinh City - Nghe An Tel: (38) 842 304 - 844 044
* Accounting Division - Vietcombank Ha Tinh Branch 6 Phan Dinh Phung - Ha Tinh Tel: (39) 857 003
* Accounting Division - Vietcombank Hue Branch 78 Hung Vuong - Hue Tel: (54) 824 629
* Service Business Division - Vietcombank Da Nang Branch 140 Le Loi - Da Nang Tel: (511) 823 503 - 835 103
* Accounting Division - Vietcombank Quang Ngai Branch 345 Hung Vuong - Quang Ngai Tel: (055) 825 431
* Accounting Division - Vietcombank Qui Nhon Branch 152 Le Loi - Qui Nhon Tel: (56) 822 266 - 821 497
* Service Business Division - Vietcombank Nha Trang Branch 17 Quang Trung - Nha Trang Tel: (58) 829 178
* Accounting Division - Vietcombank Dak Lak Branch 121-123 Yjut - Buon Ma Thuot - Dak Lak Tel: (50) 857 398 - 855 037
* Accounting Division - Vietcombank Binh Duong Branch Phu Loi - Phu Hoa - Thu Dau Mot town - Binh Duong Tel: (065) 831 226 - 831 227
* Card payment Division - Vietcombank Vung Tau Branch 27-29 Tran Hung Dao - Ba Ria - Vung Tau Tel: (64) 856 387
* Accounting Division - Vietcombank An Giang Branch 01 Hung Vuong - Long Xuyen - An Giang Tel: (76) 843 388 - 841 075
* Service Business Division - Vietcombank Binh Tay Branch 129A Hau Giang - District 6 - Ho Chi Minh City (08) 9 600 482 - 9 601 501
* Accounting Division - Vietcombank Dong Nai Branch 77c Hung Dao Vuong - Bien Hoa - Dong Nai Tel: (61) 824 766
* Accounting Division - Vietcombank Tan Thuan Branch Tan Thuan Processing Zone - Nha Be - Ho Chi Minh City Tel (08) 7 700 048
* Accounting Division - Vietcombank Kien Giang Branch 02 Mac Cuu - Rach Gia - Kien Giang Tel: (77) 868 149 - 863 178
* Foreign exchange Division - Vietcombank Can Tho Branch 7 Hoa Binh - Can Tho Tel: (71) 820 445 - 821 089
* Accounting Division - Vietcombank Ca Mau Branch 4 Lac Long Quan - Ca Mau Tel: (780) 835 029 - 836 065
CREDIT CARD AGREEMENT No........./NHNTTW-TTD
- Based on Civil Code passed by Vietnam National Assembly on 28 October 1995; - Based on Vietcombank’s Operations Procedures on issuing, use and payment of credit card set forth in Decision No. 72/QD-NHNT-QLT dated 21 August 2000 by General Director of Bank for Foreign Trade of Vietnam;
Today, day of ...... month ........... year, we are:
The first party (cardholder)............................................................. Payment address………………………………………………………………………. Date of birth ......................... Place of birth.................................... ID Number /Passport No................... Place of issue ................... Home telephone number ............................................................... Name of employment agency .......................................................... Address ................................................................................................. Office telephone ..................................................................................... Is legal representative for / authorized by .................................................. (in case card utilization is authorized by the company)
The second party: .......................................................................... Position: ............................................................................................... On behalf of Bank for Foreign Trade of Vietnam (Branch..............................) Address:........................................................................................ Telephone No.: ...........................................................................
Both parties agree to sign this Credit Card Agreement under the following terms and conditions:
Clause 1: In this agreement, the following words shall be uniformly understood as below:
1- "Account" shall mean credit card account under the name of cardholder opened with Vietcombank pursuant to this Agreement. 2- "Card" shall mean credit card issued by Vietcombank to cardholder pursuant to this Agreement. 3- "Cardholder" shall mean any person or authorized person (for corporate card) who is allowed by Vietcombank to use the card according to Bank-assigned credit limit and whose name is embossed on the card. Cardholders means principal and supplement cardholders as well. 4- "The Bank" shall mean Vietcombank who issues the credit Card under the license of MasterCard International and the VISA International, and the permission of the State Bank of Vietnam. 5- "Merchant" shall mean all establishments supplying goods and services, agent banks, and cash outlets that are authorized by Bank to accept credit card as under agreement with the Bank. 6- "PIN" shall mean personal identification number issued to the cardholder and issued to withdraw cash or obtain other services at ATM (automate teller machine). 7- "Transaction" shall mean any purchase of on goods and services, or cash withdrawals by credit card. 8- "Credit limit" shall mean the maximum credit that the bank allows cardholder to use in a credit cycle. 9- "Sale slip" shall mean the documents evidencing credit card transactions by the cardholder. 10- "International Card Association" is the association of member banks conducting issuing and acquiring programs.
Clause 2: Rights and Responsibilities of cardholder
1- Come to Bank or authorize other person to collect cards and PIN number at Bank, or authorise bank send cards and PIN No. by post (within Vietnam territory). In case, card is delivered by post, cardholder has to contact the Bank to acknowledge the receipt of the card and PIN. 2- Sign on the signature panel on the card upon receipt of the card. 3- Cardholder is entitled to use card to pay for goods and services purchased at merchants and make cash advance at Vietcombank or any acquiring bank and withdraw cash at ATMs. Per single retail and cash advance transaction, cardholder should sign on a slip of Merchant or acquiring bank. 4- Card should not be transferable or assignable. 5- Exercise all possible care to ensure the safety of physical card, and commit not to let anyone know PIN number. 6- Be fully responsible for all transactions effected by using of PIN number before Bank officially receives a report of PIN disclosure. In case of loss or theft of the card, cardholder should immediately report to Bank by express means of communications and confirm in writing such loss or theft with all necessary details: + Name of cardholder + Card Number/Expiry date + Place of loss/Time of loss/Theft + ID or passport number of card holder The Bank shall be responsible for any transaction effected by the lost/stolen card conducted five (05) days after the date that Bank received cardholder’s notification. 7- If a lost card is recovered, make no attempt to use it, and return it to Bank immediately. Cardholder is fully responsible for expenses arisen out of the attempt to use the recovered card. 8- Let Bank know promptly in writing if any changes have been made to the cardholder’s residential address, employment, or contact address. 9- Use the card within the credit limit assigned by Bank unless there is approval from Bank to utilize the card beyond its limit. Cardholder shall pay a fee if he uses the card over the assigned limit. 10- Cardholder must update his information to the Bank on requested at any time. 11- Use the card in full compliance with Vietcombank’s regulations and law of credit card Associations. 12- In the case that Bank is unable to create and send statement to cardholder due to circumstances beyond the Bank’s control, cardholder shall still be responsible to pay all due amounts as usual. 13- Cardholder shall be responsible for settling disputes regarding merchandise purchased with merchant without withholding payment to the Bank. 14- Cardholder can make complaint to Bank on the usage of this card, unilaterally terminate the usage of credit card and request for new issue, re-issue according to Clause 6, 7 & 8 of this Agreement.
Article 3: Rights and Responsibilities of the Bank
1. The Bank undertakes to exercise the regulations on issuance and payment of an international credit card, ensure the rights of the cardholder as per this Agreement, and retain any cardholder information, unless otherwise stipulated. 2. The Bank shall be responsible for settling any inquiries and complaints made by the cardholders in respect to credit card transaction except those regarding the quality and quantity of the goods and services purchased. 3. The Bank shall not be held responsible when Bank is unable to perform an obligation under this Agreement, due to the failure of a machine, data processing system, transmission link, or anything beyond Bank’s control. 4. The Bank shall not be responsible for any injury to cardholder’s credit rating or reputation, in relation to the pick-up of the card, or any request for its return. 5. If no payment is received by the due date, Bank shall be entitled to collect money form cardholder’s assets without cardholder’s signature or consent (account opened at Vietcombank, or at any other banks, deposit money, collateral, mortgage…)
6. If the Bank collects from deposit accounts or saving book (as collateral) to pay for a credit card account balance, such a deposit account and saving book shall be calculated demand account interest. Bank shall not be responsible for change of interest calculation.
7. Bank shall only unblock cardholder’s deposit account and collateral after 40 days from the date that the cardholder ceases to use the card. As to collateral for temporary credit limit increase, Bank will also unblock after 40 days from the date that credit limit increase expires.
Clause 4: Payment
1. For cash transaction, cardholder shall pay Bank all charges that it set in relation to cash advance transaction. In case of retail transactions, the cardholder shall not pay any charge to the merchant. 2. All transactions effected by PIN, or with cardholder’s signature, shall be the evidence of cardholder conducting such retail or cash transaction. 3. If cardholder use his card to make reservation at a hotel, but then fail to arrive, or fail to cancel the reservation, Bank shall be entitled to charge to cardholder’s account a “No-show” charge which is equivalent to the rate of one night accommodation at the hotel plus tax and charge, if any for each room reserved. 4. Each month and on the statement date, Bank shall create a statement for all the transactions over the month period, and convert these transactions into Vietnamese Dong, according to the conversion rate and fee of International Card Association, and the applicable exchange rate of Bank. Cardholder is required to advise Bank of any mistakes or errors found in the statement within 7 days from date of statement. If no claim is made within that time limit, it is understood that the cardholder agrees to pay all transactions and charges in the statement. 5. Upon receiving the statement, cardholder shall pay Bank on time all of the balance, plus any charges and interest.
Article 5: Interest charge on credit card transaction
1. For retail transaction: By the due date, if the cardholder makes full payment, Vietcombank shall waive all interest on retail transactions generated in the current cycle. If he does not pay or just pays only a part of statement amount, Vietcombank shall charge interest on all transactions as from the posting date. Vietcombank shall not continue to charge interest on the paid amount from payment date. Interest is calculated on the basis of the balance posted on the account and will be shown on the next statement. 2. For cash transaction: Cardholder will be charged cash advance fee (one-off) and interest calculating right from posting date to statement date. This interest amount is shown on current statement. By the due date, if cardholder makes full payment, then Bank shall waive all interest on cash transactions generated from statement date to payment date. If cardholder does not pay or pays only a part of statement amount, Bank shall continue to charge interest on unpaid cash transaction amount calculating from the statement date and the interest amount will be shown on the next statement. 3. For disputed transaction: Interest and penalty fee charged on the unpaid amount are calculated in the same way as above transactions. Bank will credit cardholder’s account the interest amount and penalty fee for disputed transactions which are settled in cardholder’s favour. If by the due date, there is no payment made or the paid amount is below the minimum amount, Bank shall be entitled to a late charge on the minimum amount according to Bank’s rates. Payment Priority Order: Cardholder’s payments will be posted in the following order: Annual fee, Interest, Other fees, cash transaction, retail transaction and chronological order of transactions.
Article 6: Principal and supplement card:
1. Principal cardholder, upon acquisition of his card being issued by Bank, may request Bank to issue under his account, up to two (02) supplement card(s) for close relatives. Principal and supplement cardholders can use the cards under one account within a single credit limit primarily assigned by Bank to the principal cardholder. Spending transactions of two cards are shown on one statement, which is sent to principal cardholder every month for payment. 2. Principal and supplement cardholder are jointly responsible for spending, payment of the supplement card. The ultimate payment responsibility, however, is on principal cardholder’s account. 3. Principal cardholder may request Bank to terminate the use of the supplement card by sending written request to Bank.
Article 7: Card replacement, re-issue, terminating of card use:
1. If cardholder violates the Bank regulations on the use of their credit card, Bank may request the return of the card at any time by giving a notice of termination in writing to the cardholder or through agent banks or merchants. 2. If cardholder wish to terminate the use of his card, he must give Bank a written notice of termination, and then settle the account balance and return the card (cut in half) to Bank. 3. When cardholder ceases to use card at Bank’s request or at his will, then all outstnading balance shall be due and cardholder will also agree to pay any charges, transactions which has not yet been paid or shown on the statement at the time of termination. 4. Card may be stopped and recovered by Bank in the following cases: · The card is involved in the fraudelent transactions · If 60 days after due date, cardholder has not paid or just paid less than the minimum amount. 5. Cardholder spends over credit limit without Bank’s permission by more than 20%. 6. Cardholder may request Bank to issue a replacement card for lost/stolen cards, or a new card at the cardholder’s expense. When a card becomes expired, Bank shall give notice to cardholder in regard to re-issue. If Cardholder wishes to use the card with new expiry date, cardholder has to send request in writing to Bank.
Article 8: Contract amendments:
1. Any change of terms and conditions of this Agreement will be informed to cardholder by a written notice. 2. If cardholder does not accept any changes to the agreement as set by Bank, cardholder has the right to cease using Bank’s card. 3. If cardholder continues to use his card after the date on which any changes in the agreement take effect, it will be presumed that cardholder has accepted the change.
Article 9: Governing Law and dispute settlement:
- This agreement is governed by Laws of Vietnam and the stipulations related to the issuance and payment of international card Association. - If any dispute arises out of the use and acceptance of the card, two parties shall settle through negotiation. In case, no resolution is reached by negotiation, parties shall bring the dispute to the relevant Civil Court in Vietnam.
Article 10: Undertakings:
Cardholder and the Bank confirm that they have read, understood and agreed to the above terms and conditions. Both cardholder and the Bank undertake to strictly follow and execute these terms and condition as well as any other stipulations of Bank and international card Associations.
This Contract takes effect from the signing date.
BANK FOR FOREIGN TRADE OF VIETNAM CARD HOLDER BRANCH: (Signature and full name)
Supplement card holder (Signature and full name)
Bank’s List of charges for Vietcombank Credit Card
I. Visa/Master Card issuance and utilization fee delivered by Vietcombank
10. Annual fee: · Gold card Principal card: 200.000 VND/year Supplement card: 100.000 VND/year · Classic Card Principal card: 100.000 VND Supplementary card: 50.000 VND
11. Financial charge (interest rate): 0,73%/month (subject to change by Bank indicated in monthly statement)
12. Over limit fee (accumulative periodically since the date of overspending): · Over limit from From 1 to 5 days 8%/year/over limit amount · Over limit from 6 to 15 days 10%/year/over limit amount · Over limit above 16 | ||||