The State Bank of Vietnam request for reduction on fees for transactions performed on ATM, POS through NAPAS

Duc Dung

10:58, 03/08/2021

On July 30, 2021, the State Bank of Vietnam (SBV) issued Official Dispatch No. 5517/NHNN-TT applying service fee exemption and reduction policies.

According to the Official Dispatch No. 5517/NHNN-TT, the State Bank of Vietnam directs the National Payment Corporation of Vietnam (NAPAS) to continue to implement the policy for reducing fees for financial switching and electronic clearing services in 2021 as following:

- Reduces 50% of financial switching and electronic clearing service fees for transactions performed on ATM, POS compared to the applicable fees;

- Reduces at least 75% of financial switching and electronic clearing service fees for 24/7 interbank transfer transactions compared to the applicable fees.

- The policy is valid from August 1, 2021 to December 31, 2021.

Therefore, the State Bank of Vietnam requests credit institutions and foreign bank branches to perform several following tasks:

- Reducing fees for ATM, POS transactions processed through NAPAS and 24/7 interbank transfer transaction fees for customers at the minimum rates equal to the rates of reduction in the fees that NAPAS applies;

- Encouraging credit institutions and foreign bank branches to reduce fees at the rates greater than those of NAPAS.

In which, continue to apply the fee exemption policy currently in effect.

The Official Dispatch No. 5517/NHNN-TT issued by the State Bank of Vietnam on July 30, 2021.

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