Bảo Tín Minh Châu asked how the non-cash payment threshold applies when customers buy gold several times a day, including whether earlier cash sales would have to be reversed. The State Bank of Vietnam said Decree No. 390/2026/NĐ-CP, issued on 16/10/2026, requires non-cash payment for gold purchases and sales of 5 million VND or more per customer per day, not the 20 million VND the company cited. The threshold is based on the total daily value of a customer's gold transactions and applies to later transactions the same day, so splitting transactions or payments does not change the rule. The regulation aims to improve transparency, enable cash-flow tracing, and prevent tax evasion and money laundering.
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Original headline: Ngân hàng Nhà nước nói về việc không dùng tiền mặt mua, bán vàng
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goldState Bank of Vietnamtaxesregulationmoney laundering
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Related tickers and likely impact
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/28/2026 | 4,067.54 |
| Change that session | +0.18% |
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Decree 390 was amended to require that gold purchases and sales totaling 5 million VND or more in a day be paid by non-cash methods, with the threshold lowered from 20 million VND. Following this, Ancarat, Bảo Tín Mạnh Hải, Bảo Tín Minh Châu, Mi Hồng and Phú Quý notified customers. Phú Quý accepts payments only from bank accounts in the customer's own name and not from e-wallets. Lương Ngọc Quang of Bảo Tín Mạnh Hải says bank transfers, cards and e-wallets all meet the rule, yet some firms still reject e-wallets even though the wallets have verified their customers. The problem is that through e-wallets or intermediary card payments, firms receive only a transaction code without the buyer's name, which makes verifying transactions harder for businesses that have anti-money laundering obligations. Bảo Tín Mạnh Hália says it will accept e-wallet payments and is working on the verification process; in the long run, e-wallet providers and intermediaries should supply payer information to gold firms.
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Decree 390/2026, effective from its signing date of 16/10/2026, lowers the non-cash payment threshold for gold trading to 5 million VND per day from 20 million under the earlier rules, and allows cards and e-wallets in addition to bank transfers. Some gold businesses still refuse e-wallet payments because the money arrives with only a transaction code and no payer name, making it hard to prove transactions under anti-money-laundering rules. Lương Ngọc Quang of Bảo Tín Mạnh Hải said the company will accept e-wallet payments and is working on verification, and called for e-wallets to pass payer information to gold firms. Separately, jewellery and decorative gold production and trade are no longer conditional business lines, and State Bank certification is no longer required, with inspections moved after operations begin, though fire safety and other requirements still apply.
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On 16/10/2026, the Government issued Decree No. 390/2026/NĐ-CP amending Decree No. 24/2012/NĐ-CP on gold business management, effective the same day. Producing, processing and trading gold jewellery and decorative art are no longer conditional business lines, the related conditions and certificates are abolished, and oversight shifts from prior to post-inspection. Gold bar production and trading still require a State Bank of Vietnam licence. Gold purchases or sales of 5 million VND or more in a single day must be paid by non-cash means, down from 20 million VND previously, aimed at improving transparency and preventing tax evasion.
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Decree 390/2026/NĐ-CP, effective October 16, 2026, lowers the daily threshold for mandatory non-cash payment on gold transactions to 5 million VND, down from 20 million under Decree 232/2025/NĐ-CP. The rule applies equally to gold bars and jewelry and extends to transfers and e-payments. The State Bank of Vietnam says the aim is to strengthen customer verification and improve market transparency. Expert Nguyễn Quang Huy of Nguyễn Trãi University says payment records help reconcile transactions with invoices, revenue and tax obligations, though cash transactions are not automatically suspicious. The decree also requires businesses to build systems to store and link data on imported raw gold and adjusts import licensing, but this is not an unlimited import mechanism.
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- Gold purchases and sales of 5 million dong or more per day must be paid by non-cash means
Under Decree 390/2026, effective October 16, gold purchases and sales of 5 million dong or more per day must be paid by non-cash means, down from the previous threshold of 20 million dong. The decree also sets rules for licensing raw gold imports for jewelry and decorative-art makers with foreign processing contracts, and calls for an information system to manage raw gold data. The State Bank of Vietnam will inspect gold trading activities, while the Ministry of Science and Technology is responsible for national standards and quality measurement of gold. The decree repeals earlier rules on producing, processing and trading jewelry and decorative gold, so production certificates issued before October 16 are no longer a requirement. Pending applications for new, amended or supplemented certificates will be terminated by the State Bank, which will notify the applicants.
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