Despite the collection of inside-network ATM (automated teller machine) transaction fees being applicable from last Friday, only 12 of 47 banks charge ATM card users, with 10 banks applying the maximum rate of VND1,000 for each transaction. Bui Quang Tien, head of Payment Department under the State Bank of Vietnam, told the Daily that the banks have passed their specific fee lists to the central bank.... 

Financial industry players are pondering the impact of  Vietnamese banks’ recent move to charge fees on ATM transactions. Under a State Bank recent circular, from March 1, 2013 banks will be allowed to charge ATM users for on-us transactions, or those made on machines of the same banks. Vietcombank possesses an expansive network of 1,800 ATMs. Each day, the bank needs to feed over VND1 billion... 

After the central bank has allowed collection of on-us ATM (automated teller machine) transaction fees starting in March, local banks are considering various collection schemes with some saying to charge lower than the maximum rate of VND1,000 per transaction while others saying ‘no’ to this fee to keep customers. Duong Ngoc Minh, acting director of the card center of DongA Bank, said that this... 

Commercial banks have been making fat profits from ATM services, but they have decided to collect fees from inner-network transactions as well. Banks have finally obtained the thing they want – the permission from the State Bank to collect fees on very transaction on auto telling machines (ATMs). A circular has been issued by the central bank stipulates that from March 1, 2013, banks would be... 

A memorandum of understanding will be signed on Wednesday between the nation’s two biggest card unions, Smartlink Card Services Joint Stock Company (Smartlink) and Vietnam National Financial Switching Joint Stock Co. (Banknetvn), to merge the former into the latter. According to a source from the State Bank of Vietnam (SBV), the agreement marks the first step of merging three card unions on... 

Mobile channels will be the top priority of several banks as customers are now turning to use mobile services, according to experts at a seminar on customer relationship management (CRM) held last week in HCMC. According to Graham Costello from Oracle Group, the approach to banks has changed compared to a decade ago. Quite many customers now look for information on the internet, ask for advice on... 

While commercial banks have been insisting on charging fees on the clients’ ATM transactions to cover the investment capital and operation expenses, analysts have pointed out that even if banks do not collect fees, they still can make fat profits with ATMs. The reports by the State Bank of Vietnam and the Vietnam Card Association released recently showed that by the end of June 2012, Vietnam had... 

While small banks want to keep the inter-network cash withdrawal fee unchanged, big banks have been insisting on sharp increases. Meanwhile, the State Bank of Vietnam has turned the green light on the banks’ plan to collect fees after many times of debarring banks from doing this. The disagreement Commercial banks late last week were requested to submit the reports about the investments in the ATM... 

Mekong Development Joint Stock Commercial Bank (MDB) on Tuesday launched its debit card using fingerprint recognition technology, marking the presence of the first biometrics-enabled debit card ever in the country. The bank has implemented Temenos T24 Biometric fingerprint authentication to provide the unbanked population of Vietnam with access to banking services. MDB is already running the bank... 

The banking industry is digested recent moves to hike ATM services charges. From early April, many banks rushed to hike ATM service charges. For example, Vietcombank began to charge its cardholders with remittance services from early April, with a fee level at VND3,300 per each transaction. One month later, Techcombank lifted cash withdrawal service fees from VND3,300 to around VND6,000 each transaction...