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SMS Banking is a popular telephone banking service, highly praised for its speed and convenience. Although similar in nature, the fees for SMS Banking vary among banks. Some banks offer it for free, while others do not.
At present, many readers are concerned about comparing SMS Banking fees across different banks and finding the bank that provides the most affordable and highest quality service. Below, we provide detailed answers for you.
Costs of SMS Banking service, SMS Banking fees of various banks
1. What are SMS Banking fees?
SMS Banking fees refer to the amount of money required to utilize basic banking services via mobile phones.
Typically, SMS Banking fees of banks include registration fees, monthly service maintenance fees, and various inquiry fees depending on the information retrieval needs of each customer. On average, monthly SMS Banking fees at Vietnamese banks range from 8,800 VND to several hundred thousand VND depending on the user's inquiry needs.
2. Maintenance Fees for SMS Banking in Various Banks
As a popular service used by most people to monitor balance fluctuations, account information, etc., the actual maintenance fees for SMS Banking at banks are quite cheap, ranging from 8,000 - 15,000 VND/month.
Only DongABank charges SMS Banking fees based on the number of registered subscribers receiving text messages. Additionally, MBbank charges SMS Banking fees based on the account package (gold, silver, platinum, diamond) that customers register for, with fees ranging from 8,000 - 100,000 VND/month depending on the package.
SMS Banking service fees, summary table of maintenance fees for SMS Banking in various banks in Vietnam
3. Usage Fees for SMS Banking at Various Banks
After registering for SMS Banking services at banks, most readers will enjoy free usage of services such as basic inquiries like checking account information, the 5 most recent transactions, exchange rates, interest rates, ATM locations, etc. However, for advanced features like card top-ups, transferring money via the SMS Banking system, users will have to pay fees for each query.
To facilitate readers in tracking and comparing SMS Banking fees at various banks, we have compiled a comparison table of fees for receiving SMS notifications of balance fluctuations at popular banks such as Vietcombank, Vietinbank, BIDV, etc. Specifically as follows:
According to Mytour's survey, most banks offer free inquiries for account information, exchange rates, interest rates, the latest 5 transactions, etc., to customers. Some banks like Vietinbank, Seanbank, Sacombank impose fees for advanced SMS notification services such as receiving debt reminder messages, receiving transaction notification messages, etc. During the inquiry process via SMS Banking services of banks, customers have to pay telecommunication charges (ranging from 500 - 1,000 VND/message as regulated by network service providers Viettel, MobiFone, VinaPhone, Vietnamobile, and even Gmobile).
If using HDbank's SMS Banking service, in addition to the monthly maintenance fee, customers will be charged based on the number of inquiry messages in a month. Specifically, HDbank charges 30,000 VND/month if the number of messages is less than 40, and 30,000VND/month/account/phone number + 850VND x the number of excess messages if the number of messages exceeds 40 in a month.
Besides information inquiry methods, some banks like LietVietPost Bank, Agribank also provide services like VNTopup, Apaybill, Atransfer, etc., and charge fees on each customer transaction. The fee ranges from 1,000 - 7,000 VND/transaction. (If you want to learn about how to transfer money via Agribank's Atransfer service, you can find out more here)
Above, Mytour has shared with you the concept of SMS Banking fees and common SMS Banking fees in Vietnam. Hopefully, with this information, you will grasp the basic information about monthly SMS Banking fees of banks and find a bank that provides good, safe, and convenient services for you.
Similar to SMS Banking, Internet Banking services (online banking) provided by various banks are widely preferred by users. To discover which bank offers the best and most affordable Internet Banking service, readers can refer to our article comparing registration fees for Internet banking across different banks.
