Increase Mobile Money transaction limit to 100 million per month

The Government has just issued Decree 368 on mobile money service provision (Mobile Money). Accordingly, a customer can open a maximum of one mobile money account at a service providing organization. They can deposit cash into their main account at business locations or receive money from other payment accounts, debit cards, e-wallets, and mobile money accounts.

The account holder can use it to withdraw cash, transfer money to other mobile money accounts, e-wallets, or pay for goods and services, pay fees for public services, and make road electronic payments.

The Decree stipulates a maximum limit of total money transfer and payment transactions through one account of 100 million VND per month. This level is 10 times higher than the previously applied regulations.

In addition, customers can use additional limits to pay for public services, electricity, water, telecommunications, transportation, tuition, hospital fees, insurance and bank debts, with a total limit of no more than 100 million per month.

Mobile Money was initiated by the Ministry of Information and Communications, now the Ministry of Science and Technology, to promote non-cash payments. Unlike e-wallets, Mobile Money provides users with an account tied to the mobile subscription. The service is licensed by the State Bank to pilot implementation from the end of 2021, within 2 years, then extended until the end of 2025.

At the press conference at the end of last month, a representative of the State Bank said that by the end of September 2025, the total number of Mobile Money account transactions would be more than 290 million with a value of about VND 8,511 billion. The whole country has about 10.89 million registered Mobile Money accounts, of which 70% are in rural and remote areas.