Banks Delay Fee for Cash Machine Use

The ATM Association has not yet decided to charge a cash withdrawal fee as previously scheduled, the State Bank of Vietnam announced on Wednesday.

The withdrawal fee is intended to stabilize the bank card situation at developing banks, reimburse banks for their costs and ensure clarity in how fees are charged, the association’s executive board said.

As scheduled, the fee would be VND1,000 (US$0.06) for every withdrawal and would begin on July 1.

The board decided to delay the fee to a more appropriate time to give banks have more time to complete their infrastructure. The delay also helps costumers become familiar with the service.

By H. Th-Translated by Hai Dang

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