SBV adjusts time schedule of electronic inter-bank payment system

According to relevant applicable regulations, settlement demand and operational practice of members of the electronic inter-bank payment system, the Management Board of the electronic inter-bank payment system decided to adjust the time schedule of the electronic inter-bank payment system as follows:

For common working days: The time schedule of the electronic inter-bank payment system is unchanged as stipulated in Circular No. 13/2013/TT-NHNN dated June 11, 2013. Specifically, the electronic inter-bank payment system starts from 8 a.m (local time) everyday; the deadline for receiving low value payment orders is 4 p.m and 5 p.m. for high-value payment orders. The clearing of low value transactions starts from 4h10’ p.m. The system compares and confirms data from 5h15’ p.m (local time).

For the last two working days of each month: the time schedule of the electronic inter-bank payment system is unchanged as stipulated in Circular No. 13/2013/TT-NHNN dated June 11, 2013. The time of performing technical check and initialize data of the electronic inter-bank payment system is 8 a.m (local time). The deadline for receiving low value payment orders is 5 p.m and for high-value payment orders is 5h45’ p.m. The clearing of low value transactions shall be made from 5h10’ p.m. The system compares and confirms data from 6 p.m (local time).

For the year – end and long holidays, the Management Board of the electronic inter-bank payment system will announce time schedule basing on practical requirement of payment performance.

The above mentioned time schedule of the electronic inter-bank payment system will be applied from November 27, 2015. The SBV required Directors of SBV entities participating in the electronic inter-bank payment system, and General Directors of the electronic inter-bank payment system members to make notice and guide the implementation.

TLH