Vietnam Banks Association issues new debt-collection rules limiting text messages and calls

Vietnam Banks Association (VNBA) has issued a Code of Conduct for debt collection activities applicable to its member credit institutions. The code is designed to standardize conduct across the banking system while not replacing existing laws.

Scope and legal basis

The code consists of three chapters and 11 articles. It is built on the 2015 Civil Code, the 2024 Law on Credit Institutions, and related regulations.

It applies to debt-collection staff and also covers third parties authorized by credit institutions to collect debts. Member institutions are required to implement the code system-wide, including through internal mechanisms to handle violations.

Required conduct during debt collection

Under the code, debt-collection staff must engage with customers respectfully, listen to and understand the circumstances and causes of overdue debt, and propose appropriate solutions.

Debt-collection activities—including handling collateral—must comply with applicable laws and the internal procedures of the credit institution.

Prohibited practices

The code sets out specific prohibited acts in debt collection, including:

• Using force, threats, harassment, or insulting customers or related persons.
• Contacting customers at high frequency or outside appropriate hours.
• Using banners, spraying paint, or disseminating information to pressure customers.
• Using social media to defame customers.
• Providing false information about the debt.
• Forging government documents.
• Suggesting that customers take high-interest loans to repay debt.

Data security and handling of customer funds

On data security, the code requires that customer data not be publicly disclosed or shared with third parties in violation of rules. It also prohibits collecting or copying customer data for personal use.

Regarding financial conduct, debt-collection staff are not allowed to receive money, gifts, or material benefits from customers. They must not request transfers to accounts not belonging to the credit institution, and must not hold customers’ funds contrary to regulations.

Coordination when multiple institutions collect the same debt

Where multiple institutions collect debt from the same customer, the code requires coordination to ensure balanced interests and to avoid conflicts.

Implementation timeline and drafting process

The code takes effect from the date of signing, March 31, 2026.

During drafting, the process received nearly 200 comments from more than 30 credit institutions. Expert input was provided by the International Finance Corporation (IFC) and several agencies, including the State Bank of Vietnam, the Ministry of Public Security, the Ministry of Justice, the Supreme People’s Court, and the Supreme People’s Procuracy.

Context and related oversight

VNBA said the code is one of two key documents deployed with technical support from IFC to concretize standards of conduct in debt collection and bad-debt handling.

The National Competition Council has also commented on cases involving threats and harassment during debt collection.