Withdrawal and transfer are two common needs of users of bank accounts and ATM cards. Banks have different policies, but most of them charge fees for either transaction, especially withdrawal fees.
TPBank is currently the only bank that is unconditionally free for internal and external transfers via internet banking and withdrawals at ATMs. In fact, this bank used to charge a transfer fee, and the free policy has only appeared recently as a move to attract users of the new version of the application.
It has been 6 years since commercial banks were allowed to charge fees and increase cash withdrawal fees according to the schedule, most of them now charge 1,100 dong for each on-net withdrawal transaction and 3,300 dong for off-network withdrawal, outside of the network. Except for a few small banks, the ATM network is small.
Currently, 4 banks BaoVietBank, GPBank, Kienlongbank, PGBank are free for all domestic and foreign withdrawals. In addition, there are also some banks that offer free withdrawals at ATMs of card issuers such as LienVietPostBank, SHB, VIB, VietCapital Bank...
For intra-system and inter-bank transfer on internet banking or mobile banking (mobile application), 5 banks MB, OCB, SCB, SeABank, Techcombank are unconditionally free. In which, Techcombank is currently the bank with the largest percentage of demand deposits (30%) in the system thanks to the policy of free online transfer and the rapidly increasing number of cards.
In addition, there are about a dozen banks that waive free transfers with conditions, usually on account balances. For example, 3 banks VIB, MSB or "big man" VietinBank are free of charge for online transfers if customers maintain an average monthly balance of over 10 million. VietinBank has also just launched a new version of the mobile application VietinBank iPay.
Meanwhile, some banks require freezing a certain amount of money in their accounts such as ABBank (3 million VND), BIDV (10 million) if customers want to enjoy the free policy of transferring or withdrawing money... Or Eximbank also waives transfer fee with the condition of freezing 2 million dong in the account and issuing international debit card or international credit card.
In addition, many banks also have a policy of waiving transfer or withdrawal fees for corporate payroll accounts. However, if you have a need to directly open an account and a bank ATM card for your regular transaction needs, you can choose the banks that have the right fee incentives for your "closest" needs to optimize benefits.
Graphics: Tien Thanh