SCB Reduces Money Transfer Limit to 10 Million VND and Closes 4 Transaction Offices

Saigon Commercial Joint Stock Bank (SCB) has announced a reduction in the maximum money transfer limit for individual customers to 10 million VND per transaction, per day, per customer, effective from September 12.

The new regulation applies to both transaction counters and SCB eBanking channels. Customers can only make Napas 247 fast money transfer transactions of up to 10 million VND per transaction. If multiple transfers are made in a day, the total amount cannot exceed 10 million VND.

This is not the first time SCB has reduced the money transfer limit. Previously, on August 23, the bank adjusted the Napas 247 fast money transfer transaction limit from 100 million VND to 50 million VND per transaction, per day.

According to the State Bank’s regulations, the Napas 247 express transfer service allows customers to transfer money with a maximum limit of less than 500 million VND per transaction. Most banks currently apply a maximum transaction limit of 499 million VND for Napas 247 fast money transfers on digital banking channels.

In addition to the reduced money transfer limit, SCB has also announced the closure of four transaction offices in Ho Chi Minh City, effective from October 14. The affected offices are:

• District 4 Transaction Office – 20/10 Branch
• Ten Lua Transaction Office – Cho Lon Branch
• District 8 Transaction Office – Cho Lon Branch
• Kinh Duong Vuong Transaction Office – Cho Lon Branch

The closure of these four transaction offices brings the total number of dissolved SCB transaction offices nationwide to 96.