From October 10, according to Decree 232/2025/ND-CP, all gold trading transactions with a value of VND20 million or more must be done by bank transfer.
In addition, businesses must publicize purchase and sale prices, store full customer information including citizen identification cards, tax codes, transaction values, and connect and provide data to the State Bank for monitoring.
SJC Company has issued a notice requiring customers to register to buy SJC gold bars of the same type through the website. Buyers need to fill in all personal information, similar to the previous registration process.
Recorded on October 10, at SJC Nguyen Thi Minh Khai headquarters (HCMC), the number of people lining up to buy gold has decreased significantly compared to previous days. Forcing online registration helps reduce the situation of prolonged queuing, which often occurs at times when gold prices fluctuate strongly.
Ms. Dang Thanh Hong (Xuan Hoa ward) shared: I find transferring money when buying gold to be reasonable, helping to be more transparent. However, for the elderly who are not used to using banking applications, it may be a bit inconvenient.
Meanwhile, at other large gold shops, the number of customers is still quite large, especially at gold ring selling points. However, most establishments limit the amount of gold each customer can buy to ensure transaction control.
Phu Nhuan Jewelry Joint Stock Company (PNJ) also announced the application of new regulations from October 10. Accordingly, transactions under 20 million VND/day can still be paid in cash or by bank transfer. However, for transactions of VND20 million or more/day, customers are required to transfer money from their personal accounts to PNJ's accounts.
Notably, transaction value is calculated based on the total amount of money customers buy or sell in a day, not divided into many times to avoid splitting the bill.
This unit said that the application of the form of payment via bank is to "ensure transparency, publicity, authentication of customer information and contribute to preventing money laundering and tax evasion".
The company representative also affirmed that the new regulation does not cause inconvenience to buyers, because authentication is done quickly through the banking system, with support staff at the counter.
