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With numerous diverse features, maximizing time and transaction cost savings, Internet Banking is a service developed by most banks, encouraging users to utilize it. However, depending on the development strategy, each bank will have different fee imposition strategies for users in various stages.
If you are looking to register for Internet Banking service but unsure about the fees charged by banks, or which bank offers the most cost-effective banking, you can find the answers in our article below.
Comparing registration fees and Internet Banking fees of various banks.
1. Registration fees for Internet Banking services of different banks
According to research conducted by Mytour, most banks in the Vietnamese banking system offer free registration for Internet Banking services to customers. However, during service usage, you will incur monthly service maintenance fees and fees for performing online transfers within and outside the network.
2. Maintenance fees for Internet Banking services of different banks
According to a recent survey conducted by Mytour at domestic banks in Vietnam, the maintenance fee for Internet Banking ranges from 8,800 to 11,000 VND per month. Some banks opt for an annual fee structure, ranging from 50,000 to 100,000 VND per year.
Comparative analysis of maintenance fees and service charges for Internet Banking across various banks including BIDV, AgriBank, Techcombank, etc.
3. Fees for Interbank Transfers via Internet Banking
3.1. Fees for Same-bank Transfers via Internet Banking
The issue of interbank transfer fees in Internet Banking is a concern for many consumers. A survey indicates that banks such as SHB, HDBank, Oceanbank, VietAbank, Sacombank, and VPBank are currently waiving 100% of transfer fees for their customers.
- How to Register for Sacombank Internet Banking
- How to Register for VPBank Internet Banking
- How to Register for HDBank Internet Banking
In addition to banks offering free transfers, some banks apply fees based on the transferred amount and the geographic location of the customer. For transfers between accounts or cards, transaction fees typically range from 1,000 to 3,000 VND per transaction for amounts below 20 million VND, and 0.01% to 0.03% for transactions exceeding 20 million VND.
For transfers made to recipients presenting their ID cards and collecting funds directly at bank counters, transaction fees are usually higher, typically calculated at 0.015% of the transaction amount, with a minimum of 15,000 VND and a maximum of 1,000,000 VND.
A comparison table of interbank transfer fees within the Internet Banking systems of various banks
3.2. Fees for Interbank Transfers via Internet Banking between Banks
A summary table of transfer fees outside the system of various banks, Internet Banking transfer fees of banks
In addition to the above fees, some banks also combine fees with interprovincial transfer transactions of customers. Interprovincial transfer fees depend on the regulations of each bank, ranging from 0.02% to 0.05%. (Readers can find more information about Internet Banking transfer fees between banks in this article).
Based on the comparison table of Internet Banking registration fees among the banks above, you must have been able to consider and choose the cheapest bank for yourself. However, for the best experience using Internet Banking, besides cost issues, you also need to pay attention to the bank's reputation, the bank's security system as well as the frequency of transactions on your personal Internet Banking system,...
