Debit Card Fees at Banks

Debit Card Fees at Banks

Debit Card Fees Comparison Across Banks

When applying for a debit card at various banks, customers often focus solely on the benefits of the card, overlooking the associated fees for activation and maintenance. It's only when they notice unexpected deductions from their account that they begin to seek explanations and resolutions.

To assist our valued customers in understanding the different fees imposed by banks on debit cards, we have compiled an article: 'Types of Debit Card Fees at Different Banks'.

Through this article, customers will gain valuable insights into the fee structures of debit cards at various banks, enabling them to select the most optimal card usage strategy for themselves.

Fee Structure of Debit Cards at Major Banks in Vietnam

1. Card Issuance Fees

This fee is charged directly by banks to customers who wish to obtain a card. After receiving assistance from bank staff with necessary procedures, customers are required to pay a certain fee to the bank to receive their card number. Specifically:

- Banks charging fees: Card issuance fees at banks such as Vietcombank, Agribank, Techcombank, etc., are 50,000 Vietnamese Dong. Sacombank imposes the highest card issuance fee at 90,000 Vietnamese Dong.

- Banks with Free Services: ACB, ABbank, BIDV, Eximbank.

- In case the card is damaged or lost, when customers need a replacement card, they must pay a reissuance fee to the bank. The fee for reissuing debit cards ranges from 50,000 to 100,000 depending on the bank.

Tips: Customers can apply for debit cards online and have the cards delivered to their homes. The card issuance fee is determined by each bank's regulations, with a home delivery fee of 30,000 per card.

2. Annual Card Maintenance Fee

This is the fee that customers must pay to the bank to maintain the operation of their cards. Specifically, the annual card maintenance fees currently applied by banks are as follows:

- Banks Charging Fees: Annual card maintenance fees at BIDV, VIB are 30,000 Vietnamese Dong, at Maritime - Bank, Techcombank are 50,000 Vietnamese Dong, at MB, Sacombank are 60,000 Vietnamese Dong.

- Banks with Free Services: Vietcombank, Agribank, ACB, Eximbank,...

3. Minimum Balance Requirement

Banks such as Vietcombank, BIDV, MB,..., typically require a minimum balance on customers' debit cards to be >50,000 Vietnamese Dong. However, BIV bank stipulates that the minimum balance on debit cards must be > 100,000 Vietnamese Dong.

4. Transaction Fees

Withdrawals, transfers, statement printing,..., are routine transactions, and the debit card fee structure will comply with the regulations of each bank. Specifically:

4.1 Withdrawal Fees:

+) At the same bank's ATMs:
- Banks charging fees: At banks like Vietcombank, BIDV, Agribank, Sacombank, ACB,..., the average withdrawal fee is 1,000 Vietnamese Dong per transaction. Withdrawal fees at Techcombank, MB at ATMs are slightly higher, averaging around 2,000 Vietnamese Dong per transaction.
- Banks offering free services: Currently, banks such as Dong A Bank, PVCombank, Pvbank are offering free withdrawals for customers.

+) At other bank's ATMs:
- Banks charging fees: Typically, the cash withdrawal fee at ATMs outside the network of banks like VPBank, BIDV, MB,..., ranges from 3,300 to 9,900 Vietnamese Dong per transaction.
- Banks offering free services: TP Bank, Dong A Bank.

4.2. Transfer Fees

+) Within the same network transfer
- Banks charging fees: Within network transfer fees at banks like Vietcombank, BIDV, Agribank are 3,000 Vietnamese Dong per transaction. Transfer fees at banks like Eximbank, Sacombank, ACB, VIB are 2,000 Vietnamese Dong per transaction.
- Banks offering free services: Maritime Bank, Techcombank, PV bank, Dong A Bank,...

+) Interbank Transfers
- Banks charging fees: Interbank transfer fees on debit cards at banks like Vpbank, ACB, BIDV, Vietcombank,..., range from 5,000 to 10,000 Vietnamese Dong per transaction.
- Banks offering free services: Currently, Techcombank, PVCombank, TP Bank are offering free interbank transfers for customers.

5. Account Balance Inquiry

Customers wishing to check their account balance directly at the ATM incur no charges, but if they wish to print an electronic statement for tracking purposes, the fee for printing the statement ranges from 200 to 500 Vietnamese Dong per print.

E.g., A customer withdraws money using a Vietcombank debit card at an ATM within the same network, requests an account balance inquiry. At that time, the fee applied by Vietcombank is:

- No receipt printing: Free
- Receipt printing: 550 Vietnamese Dong/time

Many customers still do not fully understand this fee when checking balances or withdrawing money and still print receipts. In reality, printing receipts is not really necessary, and you may consider skipping this transaction.

6. Statement Printing

When customers want to know the transaction history on their debit card within a certain period, they must pay the bank a fee of 500 - 800 Vietnamese Dong per printed page.

Apart from the fee structures for debit cards listed above, there are many other different fee categories that banks have stipulated, such as:

- Replacement card issuance fee.
- Pin reissuance fee.
- Card information verification fee.
- Transaction statement copy fee.
- Other transaction fees at ATMs.
- ...

Knowing the various fee structures for debit cards at different banks will help you understand and consider choosing to open an account at banks with the most suitable fees, avoiding excessive fees after usage. With this article, we hope you find the most useful information for yourself. Thank you!