Some banks have announced to adjust SMS banking fees starting from the beginning of 2024 and encouraged customers to switch to digital banking apps to get notifications for free.
Many banks have reduced or even waived fees for interbank transfers and ATM withdrawals for the rest of the year following similar cuts by the National Payment Corporation of Vietnam to support customers hit by the latest COVID-19 outbreak.
Recent surges in transactions and withdrawl fees at a number of commercial banks had seemingly gone against the State Bank of Vietnam’s (SBV) initial policy roadmap for a seamlessly cashless society.
