HANOI, March 30 (Xinhua) -- Vietnam will require individual bank account holders to use their real names matching official identification documents starting April 1 under new regulations issued by the State Bank of Vietnam, local daily Thanh Nien reported Monday.
The move aims to ensure the security and safety of transactions.
Under the new rules, banks are responsible for verifying payment orders to ensure their legality and validity, including confirming that account numbers and account names match those registered in customers' account agreements and are fully displayed on payment documents.
Banks will have to discontinue services that allow customers to use nicknames, also known as iNick, for their accounts.
Previously, some banks allowed customers to choose nicknames in addition to their official account numbers, enabling more personalized, shorter and easier-to-remember account identifiers, the report said. ■
