Shinhan Bank

Category

Summary of Changes

Before the change

After the change

III. TERMS AND CONDITIONS OF DOMESTIC DEBIT CARD FOR INDIVIDUALS

1. Definition

Adding definition of Cardholder Verification Method (CVM) and Cardholder Verification Method Limit (CVM Limit)

N/A

-      Cardholder Verification Method (CVM): is the method used to accurately identify the person using the card as valid, ensuring the safety of card transactions. CVM may include forms of PIN, one-time password (OTP), signature on transaction receipts or other forms of authentication according to the Bank’s regulations and the law in each period.

-      Cardholder Verification Method Limit (CVM Limit): is the maximum value of each transaction that allows cardholder authentication to be bypassed. This limit is regulated by NAPAS and may be changed from time to time and for each type of transaction.

2. Card management

Modifying content

The Card Holder shall not use an expired Card or an old Card upon its replacement and immediately return to the Bank.

To ensure card information security and prevent the risk of misuse, cardholders are advised not to continue using expired cards or old cards after a replacement card has been issued. It is recommended that cardholders destroy the old card by cutting it diagonally through the chip (if any).

1.    Card Use

Adding Cardholder Verification Method Limit

N/A

For transactions made on POS that meet the conditions for allowing payment transactions to bypass cardholder authentication according to NAPAS regulations in each period, the continued use of the card by the cardholder shall be deemed as the card holder’s consent for the Bank to bypass the cardholder verification steps when processing the transaction. The CVM limit is set at VND 1,000,000.

IV. TERMS AND CONDITIONS OF THE NOTIFICATION SERVICE

Article 1. DEFINITIONS

Replacing the Multi-channel Notification Service (Zalo & SMS) with the Zalo Notification Service (no SMS will be sent if the notification fails to be delivered via Zalo).

“Multi-Channel (Zalo and SMS)” is a form in which automatic notifications from the Bank will be sent to the Customer's Zalo application after authenticating the owner's Zalo account, and the Customer's mobile device has an Internet connection, or sent to the Customer's phone number in case the notification is not successfully sent via the Zalo application.

“ZNS Channel” (Zalo Notification Service) is a form in which automatic notifications from the Bank will be sent to the Customer's Zalo application after authenticating the owner's Zalo account, and the Customer's mobile device has an Internet connection.

Applicable Customers

Summary of Changes

Before the change

After the change

Applicable to Customers:

- Currently using the SMS for account balance changes, and

- Currently using push notifications via the SOL application, and

- Currently being exempted from SMS fees for the Account (excluding PWM, Tops Club Premier/Ace, Samsung subsidiaries), including Customers who meet the conditions of one of the following packages:

+ S-Payroll accounts
+ My SOL product package
+ Shinhan Package
+ SOHO Biz product package
+ Previous eKYC customers
+ Other cases are exempted from SMS fees according to the approval authority of each Shinhan Bank branch

Automatically stop the Debit/Credit Notice SMS

- Customers receive notifications from Shinhan Bank via 02 channels:

+ SOL application

+ SMS channel

- Customers are exempted from SMS fee

- Customers only receive notifications from Shinhan Bank via SOL App.

- If Customers agree to pay SMS fees according to Shinhan Bank's current fee policy, Customers can still re-register for SMS for your Account/Card via SOL app, or contact the nearest Shinhan Bank Branch/Transaction Office.

- The Bank's current fee policy (for Individual Customers) is as follows:

+ For accounts: Minimum VND 22,000/phone number/month

+ For cards: Minimum VND 22,000/statement

- Customers who are using the SMS for account balance changes, and/or the SMS for international card transactions, and

- Using push notifications via the SOL application, and

- Being exempted from SMS fees for the Account and/or Card (excluding PWM, Tops Club Premier/Ace, Samsung subsidiaries customers), including Customers who meet the conditions of one of the following packages:

+ S-Payroll accounts
+ My SOL product package
+ Shinhan Package
+ SOHO Biz product package
+ Previous eKYC customers
+ Customers who meet the conditions of the promotion/incentive program of Shinhan International card
+ Other cases are exempted from SMS fees according to the approval authority of each Shinhan Bank branch

Discontinue SMS fees exemption (for Account & Card)

Customers are exempted from SMS fee

Customers pay SMS fees (if registering to use SMS Service) according to the Bank's current policy (for Individual Customers):

+ For accounts: Minimum VND 22,000/phone number/month

+ For cards: Minimum VND 22,000/statement

Customers receiving salary through Shinhan Bank (Payroll)

Stop SMS fee discount for Customers receiving salary via Shinhan (Payroll).

Apply SMS fee according to regular fee package

SMS fee (For account): VND 5,500/phone number/month

SMS fee (For account): Minimum VND 22,000/phone number/month