3 banks increase ATM withdrawal fees from July 15
From July 15, all three major banks Vietcombank, VietinBank, and BIDV will officially apply a new card service fee schedule, including increasing the domestic ATM withdrawal fee to VND1,650/transaction, an increase of VND500/transaction compared to before.
According to Vietcombank's announcement on the application of a new card fee schedule, effective from July 15, this bank will officially increase the ATM withdrawal fee to 1,650 VND/transaction. The interbank transfer fee on ATM is 3,300 VND/transaction.
The fee for withdrawing money from other banks for Vietcombank cardholders is still 3,300 VND/transaction, but now; the fee for transferring money to other banks is 5,500 VND/transaction at ATMs...
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| Vietcombank, BIDV, VietinBank will increase cash withdrawal fees from July 15. |
Previously, Vietcombank had announced an increase in ATM withdrawal fees from the beginning of May but then temporarily suspended the application of the new fee schedule. Two months after the suspension, Vietcombank will officially increase this service fee.
Along with Vietcombank, two other "big guys" VietinBank and BIDV both apply a fee of 1,650 VND/transaction for withdrawing money within the network at ATMs.
According to the Vietnam Bank Card Association, the country currently has about 77 million bank cards of all kinds, of which about 70 million are ATM cards. State-owned commercial banks in particular have a large number of ATM cards, so adjusting service fees will affect customers.
Along with domestic withdrawal fees, in the past few months, banks have also increased many other service fees such as interbank transfer fees, SMS Banking fees, Mobile Banking fees or applied some new fee schedules such as account management fees...
On July 8, many Vietcombank ATM cardholders continuously received notifications of service fees such as SMS Banking and Internet Banking in June 2018. Vietcombank representatives said that due to the system error of the network provider, some customers received multiple notification messages from the bank with the same content, especially the service fee collection messages received on July 7.
Vietcombank confirmed that transactions on customer accounts are still processed only once and there is no duplication as the message content reflects. The bank said it is working with the network operator to avoid similar incidents.
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