Monday, October 24 2016


ATM minimum cash limit raised

Update: July, 05/2016 - 07:00
Two men withdraw cash at ATM booths of ANZ. The minimum cash limit per withdrawal at ATMs for banks other than the card issuer are raised from VNÑ2 million (US$90) to VNÑ3 million. - VNS Photo Ñoaøng Tuøng
Viet Nam News

HÀ NỘI – The minimum cash limit per withdrawal at automated teller machines (ATMs) for banks other than the card issuer are raised from VNĐ2 million (US$90) to VNĐ3 million.

The news was announced in a circular released by the State Bank of Việt Nam on June 30.

The increase will help ATM users save on fees, as they are currently charged VNĐ3,300 (value added tax included) per withdrawal at ATM booths belonging to banks other than the one that issued their card.

“It will be more convenient for ATM users when withdrawing cash at the ATM booths of different banks,” said Nguyễn Thị Nga, a teacher in Hà Nội. “A higher cash limit means fewer withdrawal transactions and lower charges,” Nga said. “Still, I expected a higher minimum limit.”

For cash withdrawals conducted at the ATMs of the same bank that issued the card, Circular 20/2016/TT-NHNN, which came into effect at the beginning of July, said credit institutions were not permitted to set an ATM cash limit per withdrawal at less than VNĐ5 million for internal transactions, the same as the current limit.

Transaction fees for internal ATM transactions are VNĐ1,100 per cash withdrawal.

The circular also said ATM services must be available 24/7 and each ATM booth must provide the contact details of the operating agency, so users can contact them when they encounter problems or have complaints. - VNS



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