Free Money Transfer to Support People Facing Difficulties Due to Covid-19

08:58, 10/07/2024

The State Bank of Vietnam has just issued Official Dispatch 3054/NNNN-TT regarding the waiver of money transfer fees to support people facing difficulties due to the Covid-19 pandemic.

Implementation of the directive of the Government of Vietnam on measures to support people facing difficulties due to the Covid-19 pandemic

Pursuant to Resolution 42/NQ-CP dated April 9, 2020, and Decision 15/2020/QD-TTg dated April 24, 2020, the State Bank of Vietnam requires credit institutions and branches of foreign banks to implement the following:

- Waive payment service fees for beneficiaries receiving support through direct payment methods into accounts in accordance with Resolution 42/NQ-CP and Decision 15/2020/QD-TTg;- Waive fees for transactions transferring money through the Social Policy Bank’s deposit accounts at credit institutions when executing loans for employers to pay employees' stoppage wages in accordance with Decision 15/2020/QD-TTg.

Details can be found in Official Dispatch 3054/NNNN-TT issued on April 28, 2020.

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