Central bank warns banks against additional fees on card payments

The State Bank of Vietnam’s Payment Department has prohibited banks from charging additional fees for card payment with effect from May 13.

The central bank instructed the Vietnam Bank Card Association to work with international credit card organizations to crack down on lenders charging additional fees on Visa and MasterCard users.

It instructed the Steering Committee for Payments to inspect merchants and prevent violations.

Banks should tell merchants not to charge additional fees, it said, warning they would be held responsible for violations.

The central bank has stepped in following recent media reports that some merchants charge additional fees on card payments.

By Hanh Nhung – Translated by Hai Mien

Other news