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Clients fret over ATM and Internet banking fee hike

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Customers of two local banks, Eximbank and Agribank, have said they are shocked to learn of higher transaction fees for ATM and Internet banking services, Nguoi Lao Dong newspaper reports.

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Customers withdraw cash from Vietcombank’s ATM machines in HCMC. Customers of Eximbank and Agribank have said they are shocked to learn of higher transaction fees for ATM and Internet banking services

 

Some Eximbank customers told the HCMC-based newspaper that they have received a notice on the monthly Internet banking fee of VND11,000. Earlier, Eximbank collected this fee on an annual basis, but it now follows in other commercial banks’ footsteps to charge it monthly.

As such, Eximbank ATM card holders have no way but to pay a total of VND33,000 if they use SMS, Internet and mobile banking services simultaneously.

A customer in HCMC’s District 9 said she had just transferred money to a relative of hers in neighboring Dong Nai Province and that both are Eximbank customers. However, the bank charged the transaction at VND11,000.

“The fee is quite high. Other banks offer a fee exemption or collect a low fee if their customers transfer money within the same systems,” she said.

Eximbank also charges VND3,300 on its customers whenever they receive an SMS message on a new transaction.

Agribank has sent a notice on a service fee hike to its ATM card holders. For example, the money withdrawal fee, with value-added tax included, in the same system will rise to VND1,650 per transaction from the current VND1,100 from May 12.

Since March, Vietcombank has twice adjusted up the fee for SMS banking service to VND11,000 per month, and the transaction fee in the same system to VND5,500 a month for money transfers of over VND50 million (US$2,195).

A Vietcombank customer in District 2 said she has recently got services text messages from the bank over its increase of SMS, mobile and Internet banking service fees to a total of VND33,000, including value-added tax.

Banks said the fee spikes are intended to recover their investments in their ATM systems, and upgrade their Internet banking services to improve security.

 

 

Source: SGT 

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