Which bank's ATM should you use? Comparing fees and services

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Which bank's ATM should you use?

Which bank's ATM should you use? Which bank has the best service usage fee, the best offers nowadays is a question that many users are concerned about, depending on their individual ATM card usage needs, you can choose the appropriate issuing banks.

Currently, ATM cards are the indispensable payment tool for many people. With an ATM card, you can use it to check balance information, pay bills, transfer money,... without using cash.

However, along with the race to expand credit card usage of banks, users are caught in many different promotional programs, opening different card offers but do not understand clearly about the nature as well as the card usage fees of each bank.

To provide you with the most comprehensive overview of ATM cards and how to compare usage fees to easily choose the best bank for card issuance and usage.

Which bank's ATM card was used the most in 2019?

Which bank's ATM should you use?

1. Criteria to consider when choosing a bank for ATM card issuance

- Bank's credibility
- Bank's promotional programs and offers for card issuance
- ATM card usage fees: issuance fee, transfer fee, withdrawal fee,...

2. Which bank should you get an ATM card with in 2019? Which bank's ATM card was used the most?

As mentioned above, there are many factors influencing the choice of bank for ATM card issuance. Each user will base on one or several different criteria to choose the bank that best suits their needs for ATM card issuance.

In addition to the bank's credibility, card issuance technology, card utility, the issue of card usage fees is an important factor, which is of interest to most people when they need to open an ATM card for use. Therefore, in this article, Mytour will provide some important criteria and provide some comparison tables of service when using ATM cards at banks, helping you easily compare and find the bank that suits your card usage.

* Bank's reputation in card issuance

In 2019, Vietnam Report Joint Stock Company released a ranking of the top 10 most reputable commercial banks in Vietnam. Vietcombank, Vietinbank, Techcombank, MBbank,... remain the giants, highly rated by customers for their reputation as well as the quality of products and services provided.

Details of the ranking of the top 10 reputable banks in Vietnam (updated on 8/8/2019) in Hanoi.

* Card usage fees

Card issuance fee, transfer fee within and outside the bank system, ATM cash withdrawal fee, and fees for using additional utilities (Internet banking, SMS Banking, Mobile Banking) are the main types of fees that many users use and concern about. However, currently, the service usage fee levels at these banks vary. Specifically:

- Card issuance fee: As of the current time, some banks such as Dong A Bank, PVCombank, Seabank are waiving the card issuance fee for customers. At other banks such as MBBank, Vietcombank, Techcombank,..., the card issuance fee ranges from 50,000 to 150,000 VND/card.

- Transfer fee within the bank: According to Mytour's survey, there are currently 4 banks charging transfer fees within the system including Vietcombank, Viettinbank, BIDV, and MBbank with fees ranging from 2,000 to 2,200 VND/time.

- Inter-bank transfer fee: Usually, inter-bank transfer fees at banks range from 5,000 to 0.03% of the total transfer amount/transaction. Techcombank is the only bank that offers free inter-bank transfer for customers.

- Withdrawal fee: For transactions at the same bank's ATM, most banks offer free withdrawals, while Vietcombank charges a withdrawal fee of 1,100 VND/transaction. For transactions at other bank's ATMs, the withdrawal fee ranges from 1,100 to 3,300 VND/transaction. Some banks like LienVietPostbank, TPBank, BaoVietbank,..., offer free withdrawals for customers at other bank's ATMs,...

- Daily withdrawal limit: The daily withdrawal limit for ATM cards at banks ranges from 10,000,000 to 50,000,000 VND/day depending on the bank and card type.

- Electronic banking service usage fee: The usage fees for additional utilities (Internet banking, SMS banking, Mobile Banking) at banks do not vary significantly, ranging from 8,800 to 12,000 VND/month. Some banks like Techcombank, ACB,... offer free usage of Mobile Banking services for customers.

Comparison table of domestic debit card usage fees among banks in Vietnam.

Comparison table of international debit card usage fees at Vietnamese banks.

Comparison table of international credit card usage fees at Vietnamese banks.

Summary: In terms of card usage fees, Techcombank currently has the lowest card usage fees, while Vietcombank has the highest. The card usage fees of some major banks like Vietinbank, BIDV, MBbank are quite consistent with each other.

* Connectivity with various e-wallets.

E-wallet is a secure and convenient new payment method for users. Typically, when using e-wallet services, you will receive various promotions and offers.

Currently, most major banks such as Vietcombank, MBBank, BIDV, etc., are connected to e-wallets, facilitating quick and easy transfers from card accounts to e-wallet accounts.

* Benefits for cardholders.

With the rise of internet usage, online shopping is becoming a new trend among young people, especially office workers. Therefore, before deciding to get an ATM card from any bank, you can explore the bank's partners to enjoy price discounts and promotions when shopping in the future.

* Consider friends, relatives, and partners who frequently engage in transactions with you using which bank's ATM card.

If you frequently have transactions such as money transfers, bill payments with partners, friends, you should consider using an ATM card from the same bank system as the bank they use. Transactions within the same bank system will help you save a significant amount on transfer fees in the future.

Conclusion

There are many criteria to consider when comparing ATM cards from different banks and deciding which bank to get an ATM card with in 2019. Based on your usage needs, each individual will choose the banks that issue ATM cards suitable for them. Additionally, you can refer to more information about How long does an ATM card last before being locked here.

Frequently Asked Questions

What factors should I consider when choosing a bank for an ATM card?

When selecting a bank for an ATM card, consider the bank's credibility, promotional offers, and usage fees such as issuance, transfer, and withdrawal fees. Understanding these factors helps you choose the best bank that fits your specific needs.

How do ATM card issuance fees vary among different banks?

ATM card issuance fees can differ significantly between banks. Some banks like Dong A Bank and PVCombank currently waive this fee, while others, such as Vietcombank and MBBank, charge between 50,000 to 150,000 VND for card issuance.

Are there any banks that offer free inter-bank transfer fees?

Yes, Techcombank is unique in offering free inter-bank transfer fees. Other banks typically charge a fee ranging from 5,000 VND to 0.03% of the transfer amount for inter-bank transactions.

What are the typical withdrawal fees at ATMs of different banks?

Withdrawal fees can vary widely. Most banks offer free withdrawals at their own ATMs, while fees at other banks range from 1,100 to 3,300 VND per transaction. Certain banks may offer free withdrawals at other ATMs as well.

How can I benefit from using an ATM card connected to e-wallets?

Using an ATM card linked to e-wallets allows for secure and convenient transactions, often with promotional offers. Major banks, including Vietcombank and MBBank, facilitate quick transfers to e-wallets, enhancing the overall user experience.

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