Banks are planning to charge customers for account statements to reduce the cost of maintaining ATMs after the central bank rejected their request to charge fees for their use.
Forty banks had also asked the State Bank of Vietnam to increase the fees for customers using other banks' ATMs to 5,500 VND from 3,300 VND per transaction.
It was for the third time that banks petitioned for ATM charges since 2008.
Trinh Thuong Thuc, head of Vietcombank's card business in HCM City , said banks want the charge because they have failed to break even on cards for many years.
On the other hand, ATM installation and maintenance costs are very high, he said, with their monthly rentals alone ranging from 3 million VND to 10 million (526 USD).
The annual maintenance cost for a machine is 500 VND million (26,300 USD) in addition to other expenses like telecom line lease and staff wages, he added.
On top of all this, banks with thousands of ATMs have to maintain more than 500 billion VND (26 million USD) in cash without receiving any interest to ensure each machine has at least 500 million VND.
Vietcombank said it plans to collect various fees, including a fee of 550 VND per transaction for printing account statements starting from year-end. However, it will not charge customers for balance inquiries.
Agribank began collecting 550 VND for printing statements from March 31.
Banks claimed the fees will help them set up ATMs in remote areas and upgrade existing machines.
By the end of June there were 10,516 ATMs in the country, nearly 800 more than at the end of 2009, according to the Vietnam Bank Card Association.
There were more than 23.3 million card users, an increase of more than 3 million.
The association said many banks simply choose to foot the bill for customers using other banks' ATMs instead of paying to install their own ATMs which cost 20,000 USD on average./.
Forty banks had also asked the State Bank of Vietnam to increase the fees for customers using other banks' ATMs to 5,500 VND from 3,300 VND per transaction.
It was for the third time that banks petitioned for ATM charges since 2008.
Trinh Thuong Thuc, head of Vietcombank's card business in HCM City , said banks want the charge because they have failed to break even on cards for many years.
On the other hand, ATM installation and maintenance costs are very high, he said, with their monthly rentals alone ranging from 3 million VND to 10 million (526 USD).
The annual maintenance cost for a machine is 500 VND million (26,300 USD) in addition to other expenses like telecom line lease and staff wages, he added.
On top of all this, banks with thousands of ATMs have to maintain more than 500 billion VND (26 million USD) in cash without receiving any interest to ensure each machine has at least 500 million VND.
Vietcombank said it plans to collect various fees, including a fee of 550 VND per transaction for printing account statements starting from year-end. However, it will not charge customers for balance inquiries.
Agribank began collecting 550 VND for printing statements from March 31.
Banks claimed the fees will help them set up ATMs in remote areas and upgrade existing machines.
By the end of June there were 10,516 ATMs in the country, nearly 800 more than at the end of 2009, according to the Vietnam Bank Card Association.
There were more than 23.3 million card users, an increase of more than 3 million.
The association said many banks simply choose to foot the bill for customers using other banks' ATMs instead of paying to install their own ATMs which cost 20,000 USD on average./.
