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Banks get more support to cut interest rates

Banks get more support to cut interest rates

Commercial banks are expected to lower lending interest rates after getting more support to cut input costs from the State Bank of Vietnam (SBV)’s agencies this week.

Magnetic ATM cards replaced with chips beginning May 28

Magnetic ATM cards replaced with chips beginning May 28

Commercial banks in Vietnam will initially replace some 21 million magnetic ATM cards with chip cards beginning May 28, as the State Bank of Vietnam (SBV) has ordered issuing banks to convert their 75 million ATM cards to new chip cards.

The digital economy era has arrived

The digital economy era has arrived

This year is a very important time for the digital economy of Vietnam, when the gig economy will take a bigger slice of the cake.

Central bank issues roadmap for ATM card upgrades

Central bank issues roadmap for ATM card upgrades

Under a new regulation, commercial banks will have to switch 30 percent of their current magnetic strip ATM cards – more than 25 million in total – to chip cards by the end of this year to enhance safety and service quality.

Group receives 48-year jail term over fake ATM cards

Group receives 48-year jail term over fake ATM cards

Four days into the first instance trial, the People’s Court in the Mekong Delta province of Ben Tre gave Malaysian national Chong Ngai Fong and his six accomplices a total of 48 years in prison for their fraudulent activities using fake ATM cards.

Developing the financial infrastructure for a cashless society

Developing the financial infrastructure for a cashless society

VOV.VN - While the proportion of the national economy driven by cash transactions remains immense, experts believe that there will be a major shift toward using cashless payments in the coming time with drastic measures taken by the Government.

Banks required to limit ATM withdrawal at night

Banks required to limit ATM withdrawal at night

The State Bank of Vietnam (SBV) has required credit institutions and branches of foreign banks in the country to limit cash withdrawal at their automatic teller machines (ATMs) at night.

Commercial banks yet to raise fees

Commercial banks yet to raise fees

Commercial banks have yet to be allowed to hike fees for ATM cash withdrawals, the State Bank of Vietnam (SBV) announced on July 10.

Banks to hike service fees this month

Banks to hike service fees this month

After two months postponing the increase in service fees for ATM cash withdrawals as required by the central bank, some commercial banks have now resumed the plan, announcing that a new service fee framework will apply from the middle of this month.

Are bank card criminals flocking to Vietnam?

Are bank card criminals flocking to Vietnam?

The State Bank (SBV) said the process of converting 70 million magnetic cards into chip cards needs to be accelerated to prevent Vietnam from becoming the favorite destination for card crimes.

Vietnam to host ASEAN Transport Ministers’ Meeting

Vietnam to host ASEAN Transport Ministers’ Meeting

Prime Minister Nguyen Xuan Phuc has agreed with the Ministry of Transport’s proposal to host the 25th ASEAN Transport Ministers’ Meeting (ATM), the ATM with dialogue partners and related meetings in 2019.

ATM, POS transaction value up 34%

ATM, POS transaction value up 34%

The total value of transactions via the automatic teller machines (ATMs) and points of sale (POS) last year surged sharply by 34% against the previous year.

Central bank tackles ATM overload at industrial zones

Central bank tackles ATM overload at industrial zones

To better prepare for Tet (Vietnamese Lunar New Year), the biggest holiday of the year, the State Bank of Vietnam (SBV) and authorities where industrial zones locate have taken several solutions to deal with ATM overload.

HCM City’s outstanding loans up

HCM City’s outstanding loans up

Total outstanding loans by commercial banks in HCM City in 2017 rose 18.5% from 2016 to more than VND1.74 quadrillion (US$76.73 billion), according to the State Bank of Vietnam’s HCM City branch.