Banks to charge fees for withdrawal on their own ATMs

As of next March, banks will be allowed to charge ATM users for on-us transactions, or those made on machines of the same bank that issued the ATM card, according to a draft decree from the State Bank of Vietnam.

Workers of Hansoll Vina Co withdrawing their wages from the ATM booths

Customers are currently charged a VND3,000 fee only when conducting the transaction at the ATM booths of other banks.

As of March 1, however, they could be charged a maximum VND1,000 fee for each of their on-us transactions, the central bank said.

The fee will be increased to VND2,000 per transaction in 2014, and VND3,000 a year later.

The draft decree also allows banks to collect fees for money transfer at a maximum rate of VND15,000 per transaction.

Banks are also required to inform their customers 15 days in advance, and make public the fee structure before implementing the on-us charging policy.

(Source:TTNews)