If you tried to top up your e-wallet (like Grab, ShopeePay, or MoMo) using your credit card today, you likely saw a frustrating “Transaction Declined” message. You are not alone—as of January 5, 2026, this is the new legal reality in Vietnam.
This change is not due to a problem with your bank account or a lack of funds. It is the result of a major regulatory update from the State Bank of Vietnam (SBV) known as Circular 45/2025/TT-NHNN. At FixMyCard.com, we’re here to explain what this new rule means and how you can manage your payments going forward.
Common reasons for the decline
The primary reason your transfer failed is that Circular 45 has officially redefined the “legal scope” of how credit cards can be used.
- Separation of Credit and Cash: The SBV now strictly separates “credit” (spending money you owe) from “deposit accounts” (money you own). Because e-wallets act like cash accounts, the government no longer allows credit lines to be converted into wallet balances.
- Anti-Money Laundering (AML): In many cases, credit-to-wallet transfers were being used to “cash out” credit cards illegally to avoid high interest rates or to hide the origin of funds. The new law aims to stop these “shadow” transactions.
- Mandatory Blocking: Banks and intermediary payment services are now legally required to block these specific transaction types. Even if your bank app still shows the “Top Up” button, the system will automatically reject the payment at the final step.
Technical causes: Understanding the new limit
Circular 45 introduces technical barriers to prevent the misuse of credit limits:
- MCC Blocking: Banks use “Merchant Category Codes” (MCC) to identify transactions. As of today, most banks have blacklisted the MCC codes associated with e-wallet top-ups for all credit card bins.
- New Cash Withdrawal Caps: For those who still need cash, Circular 45 has capped total cash withdrawals via credit card at 100 million VND per month per cardholder. This is a hard limit programmed into the banking core systems across the country.
- Biometric Synchronization: Starting today, any significant changes to your card or wallet settings may also require biometric authentication (matching your Face/Fingerprint to the data on your Chip-based Citizen ID).
What users can check themselves
Before you call the bank, here is what you can verify:
- Check the Card Type: Ensure you aren’t accidentally trying to use a Credit Card for a wallet top-up. Debit cards linked to your actual bank balance are still perfectly legal for e-wallet transfers.
- Direct Payment vs. Top-up: Many apps still allow you to “Link Card” to pay for a specific service (like a ride or a meal) directly. The ban specifically targets transferring a balance into the wallet. Try paying for your item directly with the card instead of “topping up” first.
- App Updates: Ensure your banking and e-wallet apps are updated to the latest 2026 versions. Older versions may give generic “Error” messages instead of explaining the Circular 45 restriction.
Frequently Asked Questions
Can I still use my credit card to pay for Grab or Shopee? Yes. You can usually still link your credit card to pay for a specific order. You just cannot “load” money into the wallet balance to save for later.
Why did this happen so suddenly? The regulation was issued in late 2025, but the “Effective Date” was set for January 5, 2026. Banks have spent the last few months updating their software to block these transactions today.
Is there any way to bypass Circular 45? No. This is a central bank mandate. Any service claiming to help you “cash out” your credit card into a wallet is likely illegal and could lead to your card being permanently frozen.
Does this apply to international credit cards? Yes. If the transaction is processed through a Vietnamese payment gateway, the same Circular 45 rules generally apply.
What should I use to top up my wallet now? You should use a Debit Card or a Bank Transfer (VNPAY/NAPAS) from your savings account. These remain the standard and legal ways to fund an e-wallet.
When to contact the bank
You should only contact your bank if:
- Your Debit Card (not credit) is being declined for a top-up.
- You are trying to make a legal purchase at a store and it is being wrongly flagged as a “transfer.”
- Your app is asking for biometric verification but your phone’s sensor is failing.
Recommended Reading
- [Stop Swiping! Why You Should Use Chip or Tap Only in 2026] With tighter regulations, using the most secure physical payment method is more important than ever.
- [New 2026 Biometric Rules: Why Your Card Might Need a “Face-to-Face” Check] Circular 45 also introduces new face-scanning requirements. Learn how to set yours up correctly.
- [Debit Card Declined but I Have Money? 7 Quick Fixes] If your Debit card is failing for a wallet top-up, use this guide to troubleshoot the most common issues.
Mandatory Disclaimer This article is for informational purposes only. FixMyCard.com is not a bank or financial institution. For account-specific issues, please contact your bank or card issuer directly.
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