Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."


Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap

Banks to postpone fees on internal ATM transactions

Post new topic   Reply to topic

Go down

Banks to postpone fees on internal ATM transactions

Post  1alaskan on Wed May 09, 2012 8:33 pm

Banks to postpone fees on internal ATM transactions

VietFinanceNews.com - Members of Vietnam Bank Card Association have decided not to collect internal ATM transaction fees this year. The agreement was reached at the association's regular conference.

The task of collecting these fees and their level will ultimately be set by the State Bank of Vietnam. It will take into consideration expenditure on ATM installations and maintenance to decide a reasonable fee.

Concerns were raised when Vietcombank said it would collect a monthly fee of VND3,300 (USD0.16) for account management and another VND3,300 fee for internal account transfers. The decision received approval from many members of Vietnam Bank Card Association. The banks said they are suffering losses from ATM and these fees were to maintain the machines and business.

However, former head of a bank's trading division said that with 40 million ATM cards issued, the bank earned about VND2 trillion (USD96 million) from VND50,000 (USD2.4) issuing fees.

Not only that, the bank also earned a huge amount from many other ATM services such as charging VND3,300 for the use of another bank’s ATM, a balance inquiry fee of VND550-1,650 (USD0.3-0.8), and VND5,000-20,000 (USD2.4-1.0) for releasing cards that have been swallowed by the machine. Some banks collect VND10,000 (USD4.8) fee for reissued lost or stolen cards.

However the biggest saving the banks make via ATMs is on staff wages and branch set up costs, which are entirely avoided through the provision of ATM services.

http://www.vietfinancenews.com/2012/05/banks-to-postpone-fees-on-internal-atm.html

*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant


Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

1alaskan
Elite Member
Elite Member

Posts : 4668
Join date : 2011-06-21
Age : 35
Location : Planet far far away

View user profile

Back to top Go down

Re: Banks to postpone fees on internal ATM transactions

Post  1alaskan on Wed May 09, 2012 8:34 pm

Seems the banks are rethinking the new fees, wish the banks in the US would do the same.


Last edited by 1alaskan on Wed May 09, 2012 8:35 pm; edited 1 time in total (Reason for editing : typo)

*****************
Being defeated is often a temporary condition. Giving up is what makes it permanent.
Marilyn Vos Savant


Yesterday would have been better, but today is a good day

Remember as always, JMHO
Rantings from just north of sixty

1alaskan
Elite Member
Elite Member

Posts : 4668
Join date : 2011-06-21
Age : 35
Location : Planet far far away

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You can reply to topics in this forum