EIB, TPB, VPB Halt Fast Transfers Over 500M VND Under New SBV Circular

Overview

Eximbank (EIB), TPBank (TPB), and VPBank (VPB) have halted the automatic splitting of large interbank transfers to comply with State Bank of Vietnam (SBV) Circular 40/2024, slowing transactions over 500 million VND. The change, effective April 21, removes a technical workaround that enabled near-instant 24/7 processing, requiring customers to manually split payments for speed. This regulatory adjustment aims to enhance transaction transparency and fraud prevention but introduces friction for high-value corporate and individual transfers.

Key Facts

• Effective April 21, 2026, Eximbank (EIB), TPBank (TPB), and VPBank (VPB) stopped automatic transaction splitting for interbank transfers over 500 million VND.
• The move complies with SBV Circular 40/2024, ending a technical workaround that split large transactions into sub-500 million VND chunks for processing via the Napas 24/7 fast-transfer channel.
• Large transfers must now use the standard interbank transfer channel, which can take hours or until the next business day, unless customers manually split them into multiple sub-500 million VND transactions.
• The SBV’s SIMO fraud prevention system, deployed across 149 institutions including 99 credit organizations, has issued 3.5 million alerts and prevented over 3,990 billion VND in fraudulent transactions as of end-March 2026.
• Since July 1, 2024, SBV Decision 2345 has required biometric facial authentication for online transfers over 10 million VND per transaction or 20 million VND daily, and e-wallet top-ups over 10 million VND daily.

What Happened

Eximbank (EIB) announced the discontinuation of the “automatic transaction splitting” feature on its digital banking platform, as stated in a company notification. This change aligns with new regulations under SBV Circular 40/2024. Previously, the Napas 24/7 fast-transfer channel had a maximum limit of under 500 million VND per transaction, but banks used technical solutions to automatically split larger transfers into smaller chunks below this threshold, enabling near-instant processing even outside business hours. From April 21, this mechanism is fully halted, forcing large-value transfers to be processed through the standard interbank channel. TPBank and VPBank issued similar notifications, advising customers that to continue using the 24/7 channel for large amounts, they must proactively split payments into separate transactions each under 500 million VND. Experts cited in the article note that slowing large transactions aims to control money flows, increase transparency, limit risks, and prevent large-scale account theft incidents, which have occurred previously. The article references broader SBV efforts, including the SIMO system and biometric authentication rules, to enhance security and combat fraud.

Market Context

Eximbank (EIB) trades on the Ho Chi Minh Stock Exchange (HOSE), closing at VND 23 on April 15, 2026, down 1.09% with volume of 11.37 million shares. TPBank (TPB) on HOSE closed flat at VND 16 with volume of 6.62 million shares, while VPBank (VPB) on HOSE closed flat at VND 27 with volume of 9.50 million shares. The banking sector has been navigating regulatory tightening, with recent focus on digital payment security and anti-fraud measures. This news may impact investor sentiment regarding operational efficiency and customer experience for these banks, though immediate price reactions were muted.

Strategic Significance

The regulatory shift underscores the SBV’s prioritization of financial system integrity over transaction convenience, particularly for high-value flows. For EIB, TPB, and VPB, the change could temporarily reduce the attractiveness of their digital platforms for corporate clients or high-net-worth individuals requiring rapid large transfers, potentially affecting fee income or customer retention if manual processes prove cumbersome. However, alignment with stricter controls may enhance long-term risk management and regulatory standing, aligning with broader trends toward secure, transparent banking operations in Vietnam.

What to Watch

• Q2 2026 earnings reports from EIB, TPB, and VPB for any commentary on transaction volume or digital banking revenue impacts.
• Customer feedback and adoption rates of manual splitting versus standard channel usage for large transfers.
• Further SBV regulatory updates or circulars affecting digital payment limits or authentication requirements.
• Fraud prevention metrics from the SIMO system in subsequent quarterly disclosures.