Vietnamese banks favour ATM alliance to minimise costs
Despite the growing number of banks cards in issue in Vietnam, domestic banks have been slow to expand their ATM networks.
In 2013, growth of Vietnam’s ATM transaction value was estimated at $29.9 billion, a 6.4% YoY increase compared to 2012. The single-digit growth could be indicative of the effect of State Bank of Vietnam’s (SBV) draft circular which was made public last year, stipulating that banks would be allowed to collect charges from banks customers on ATM transactions starting March 1, 2013, causing a stir among the public, especially low-income folks who receive their salaries through ATM cards.
Currently, ATM card holders bear a number of banking charges, including a one-time issuance fee, an…
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Categories: ATMs & Kiosks
, Retail Banking
, Vietnam Bank Card
, Vietnam National Financial Switching Joint Stock Company
, ANZ Vietnam