Vietcombank (VCB) and Big4 Banks Halt 24/7 Fast Transfers for Large Transactions

Overview

Major Vietnamese banks, including the Big4—Vietcombank (VCB), BIDV (BID), Agribank, and VietinBank (CTG)—have stopped automatically splitting large transactions to use the 24/7 fast transfer system for amounts of 500 million VND or more. This change, implemented to comply with State Bank of Vietnam (SBV) Circular 40/2024/TT-NHNN, shifts these transactions to standard transfer channels, potentially affecting settlement times and operational workflows for high-value payments.

Key Facts

• Banks have halted the “automatic splitting” feature for interbank transfers of 500 million VND or more, previously used to bypass the 500 million VND per-transaction limit of the Napas 24/7 fast transfer system.
• Affected transactions now route through standard transfer channels instead of the 24/7 fast system, with processing times potentially extending by several hours or to the next business day if initiated outside banking hours.
• The adjustment follows SBV Circular 40/2024/TT-NHNN, with banks like VPBank, Eximbank, and TPBank also issuing notices to discontinue the automatic splitting practice.
• Transfers of 500 million VND or more are subject to enhanced monitoring and reporting under SBV Circular 27/2025/TT-NHNN on anti-money laundering, potentially introducing additional review steps.
• Banks advise customers needing immediate transfers to manually split amounts into sub-500 million VND transactions, if within permitted limits, to continue using the 24/7 fast system.
• The Napas 24/7 fast transfer system inherently applies only to transactions below 500 million VND per instance; the automatic splitting was a technical workaround added by some banks.

What Happened

According to bank announcements and regulatory filings, major Vietnamese banks, led by the Big4—Vietcombank, BIDV, Agribank, and VietinBank—have discontinued the automatic splitting of large-value interbank transfers. This feature previously allowed transactions exceeding 500 million VND to be broken into smaller sub-500 million VND chunks, enabling them to be processed through the Napas 24/7 fast transfer system for near-instant settlement, even during nights, weekends, or holidays. With the change, all transactions of 500 million VND or more are now routed through standard transfer channels, which may delay receipt by several hours or until the next business day if initiated outside standard banking hours.

The move is part of a compliance roadmap with SBV Circular 40/2024/TT-NHNN, as stated in bank communications. The circular aims to standardize payment processing and enhance security measures. Additionally, SBV Circular 27/2025/TT-NHNN mandates that transactions of 500 million VND or more fall under enhanced monitoring and reporting requirements for anti-money laundering purposes, which could lead to additional scrutiny in certain cases. The State Bank of Vietnam has indicated these adjustments are intended to bolster payment safety and support fraud prevention efforts.

Market Context

Vietcombank (VCB), listed on the HOSE, closed at 60 (+1.01%) with volume of 8.5 million shares on April 15, 2026, showing slight positive movement amid the regulatory news. Other affected tickers, including BIDV (BID) on the HOSE at 40 (-0.12%), Military Bank (MBB) on the HOSE at 27 (-0.37%), and VietinBank (CTG) on the HOSE at 35 (flat), exhibited mixed but generally stable trading. The banking sector in Vietnam has been navigating a series of regulatory tightenings focused on payment security and risk management, which may influence operational costs and customer transaction behaviors.

Strategic Significance

For long-term investors, this regulatory shift underscores the SBV’s ongoing focus on strengthening the financial system’s integrity, particularly in anti-money laundering and fraud prevention. While the immediate impact may involve minor operational adjustments and potential customer inconvenience, it aligns with broader trends toward enhanced compliance and risk control in Vietnamese banking. Banks that efficiently manage this transition without significant service disruption could reinforce their reputations for reliability and regulatory adherence, potentially affecting competitive positioning in corporate and high-net-worth client segments.

What to Watch

• Q2 2026 earnings reports from VCB, BID, CTG, and MBB for any disclosed impacts on transaction volumes or operational costs related to the transfer processing changes.
• Further regulatory announcements from the SBV regarding payment system reforms or additional anti-money laundering measures.
• Customer feedback and adoption rates of manual splitting for large transactions, which could influence digital banking usage patterns.
• Updates from Napas or banking associations on potential system enhancements to accommodate large-value fast transfers within regulatory frameworks.