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Cash withdrawal limit in foreign countries set at VND30 million

Cash withdrawal limit in foreign countries set at VND30 million

Commercial banks have to adjust the limit of cash withdrawals in foreign currency abroad to the maximum equivalent of VND30 million (some US$1,300) per day for international credit and debit cards from early this year to meet a central bank regulation.

SBV works to prevent credit fraud

SBV works to prevent credit fraud

The State Bank of Vietnam (SBV) this week instructed concerned agencies and organisations to keep a strict check on the use of credit cards to prevent false transactions.

Europeans charged with bank card fraud in Vietnam

Europeans charged with bank card fraud in Vietnam

Prosecutors in the central province of Khanh Hoa have charged two men from the Netherlands and the UK for using credit cards with stolen account details to withdraw cash in the resort beach town of Nha Trang.

Hanoi promotion month to stimulate consumption

Hanoi promotion month to stimulate consumption

The Hanoi Promotion Month, which has been organised in November every year since 2009, is expected to stimulate consumption and build consumers’ trust, said Nguyen Thu Giang, Director of the Vietnam Yellow Pages JSC at a conference in Hanoi on October 27.

Millions of credit cards idle in Vietnam

Millions of credit cards idle in Vietnam

About 20% or 20 million Vietnamese residents have bank accounts but the number of issued cards quadruples it to reach 86 million this year meaning tens of millions of cards have been idle, according to the General Statistics Office of Vietnam.

E-commerce – inevitable and vital for retail industry

E-commerce – inevitable and vital for retail industry

(VOV) - E-commerce is both very new and indispensable at the same time. Since it first started gaining traction in the 1990s nearly every brick and mortar business in developed countries have developed an online sales strategy.

E-commerce sees rapid growth

E-commerce sees rapid growth

The Ministry of Industry and Trade's Vietnam E-Commerce and Information Technology Agency (VECITA) has said that total sales for the e-commerce sector have soared to US$2.2 billion in 2013, tripling the 2012 figure.