Vietnamese Banks To Charge ATM Transaction Fees

Banks in Vietnam plan to start charging customers for ATM transactions, according to press reports and an interview with a bank official. ATM users will pay at least 1,000 dong (6 U.S. cents or 4 euro cents) per transaction, a spokesperson for Vietnam-based financial institution Techcombank tells CardLine Global. "The transaction fee is being charged to cover ATM-setup investments, and it will be re-invested in setting up more ATMs in the future," the spokesperson says, adding the institutions are adopting the fee as part of an agreement with the Vietnam Bank Card Association. Financial officials had planned to start charging the fees by 1 July but have delayed that start date because of inflation pressures, the spokesperson says. No new start date was announced. Vietnam has more than 4,500 ATMs.