Banks want to boost ATM fees

People withdraw cash from Vietcombank ATMs in Ha Noi. Six major banks – Agribank, Vietinbank, Vietcombank, Dong A Bank, BIDV and Techcombank – own 8,200 ATMs, accounting for 70 per cent of the total nationwide. — VNS Photo Truong Vi

HCM CITY — Banks want to raise fees on per inter-bank ATM transaction from VND3,300 to VND5,500 in order to make up for major bank losses incurred by sharing card services with small banks.

The State Bank of Viet Nam has given the green light to banks to charge fees on all internal ATM transactions beginning in 2013.

However, many major banks also want the central bank to increase fees on inter-bank ATM transactions.

The head of a major bank's transaction office in HCM City, who declined to be named, said it was necessary to increase fees on inter-bank ATM transactions because the costs for building and operating facilities for ATMs reached hundreds of millions of dong.

Expenses include the purchase of ATMs, installations and rental of space.