Comparing withdrawal fees among banks

By using payment card services, credit cards from various banks, you can withdraw cash at ATMs or at transaction counters and must pay a certain fee depending on the regulations. So how much are ATM withdrawal fees within the same network and outside the network? Which bank is the cheapest? The most expensive? The following article shares information on comparing withdrawal fees among different banks to help you address your concerns.

Latest ATM withdrawal fees for banks such as Vietcombank, Agrbank, ACB, Tecombank,...
 

1. Counter withdrawal fees.

Currently, banks all offer free cash withdrawal at transaction counters for customers within the same system. 

Only Vietinbank charges a fee for cash withdrawal at transaction counters within the same bank through EDC (a unit with terminals) with a transaction fee of 0.02% (Min 10,000 VND; Max 1,000,000 VND)

2. Comparing ATM Withdrawal Fees Across Banks

ATM withdrawal fees are charges imposed by banks for customers' withdrawal and payment transactions to cover costs and maintain ATM systems. Depending on each bank's regulations, the withdrawal fee at ATMs varies. Here's the breakdown:

2.1. ATM Withdrawal Fee Schedule by Network

Most banks offer free ATM withdrawals for their customers. This means that when you possess a bank ATM card, you can withdraw cash from any ATM without incurring fees.

Banks offering free withdrawals within their network include Eximbank, TPBank, VIB, Nam A Bank, LienVietPostBank, VPBank,... For detailed information, readers can refer to the article Which Banks Offer Free Withdrawals and Transfers.

However, some banks like Agribank, Vietcombank, BIDV, Sacombank, OCB, ACB, MBbank,... charge 1000đ/transaction (excluding VAT) for transactions within the same banking system.

The internal ATM withdrawal fees are lower, with SeABank charging 550 dong/transaction.

Note: In addition, some banks also offer free withdrawals within the system if customers meet certain bank conditions. For example, although there is a 1000đ/withdrawal fee, ACB bank waives this fee for students or Techcombank offers free cash withdrawals at ATMs if the card is issued under a salary package,... Therefore, it's essential to understand the bank policies before usage.

2.2. ATM Withdrawal Fees Outside Network

For withdrawals from ATMs outside the network, most banks charge fees ranging from 1,500đ/transaction to 3,300đ/transaction. Some banks like TPBank, VIB, Nam A Bank,... offer free withdrawals for both internal and external transactions for customers.

Specifically, the withdrawal fees at ATMs outside the network for some banks currently stand as follows:

Withdrawal fees at ATMs of banks such as Vietcombank, VIB, Agribank, MBbank, VietinBank, VPBank

3. Strategies to Minimize Losses When Withdrawing from Banks

Comparing withdrawal fees across banks, we observe that, despite varying from minimal charges to free withdrawals or ranging from 1,500đ/transaction to 3,000đ/transaction, frequent withdrawals throughout the month can incur significant costs. To minimize withdrawal fees from bank cards, consider the following:

- Utilize card payments, online transfers instead of cash transactions

- Opt for opening accounts at banks offering free withdrawals for customers.

- It's advisable to withdraw cash from ATMs within the same network to save costs. If you must withdraw from an ATM outside the network, consult the fee comparison chart above to choose the nearest bank with the lowest fees.

- Withdraw cash from ATMs as needed. Avoid frequent withdrawals to prevent accumulating charges.

- Banks issue credit cards to encourage customer spending without cash. Therefore, withdrawing cash from credit cards incurs high fees. It's best not to use credit cards to withdraw cash from ATMs.

Most banks apply different fees for withdrawals from the same and different ATMs, with only a few implementing free withdrawal policies for the same ATM. Refer to the fee comparison table of banks in 2018 updated by Mytour below.

ATM withdrawal fees are just one of the many charges when using an ATM card. Therefore, when considering getting an ATM card, you also rely on other factors such as transfer fees, ATM card security, bank ATM density... By referencing and understanding these factors, you will know which bank's ATM card is suitable and meets your needs.

Here is the latest comparison table of bank withdrawal fees updated by Mytour, hopefully, this information will be useful for readers to compare banks with each other, thereby selecting the best banking service.