Headlines 07/01/2021 16:54 CH

2 types of interbank fund transfer service fees continue to be decreased by 50%

Thùy Liên

Circular No. 19/2020/TT-NHNN dated December 30, 2020 regulates amendments and supplements to certain articles of the Circular No. 26/2013/TT-NHNN adopting the Schedule of Fees for Payment Services via the State Bank of Vietnam.

According to this document, fees for the following two types of payment services mentioned in the “Fee Schedule for Payment Services via Interbank e-Payment System" will continue to be reduced by 50% from January 1, 2021 to end of June 30, 2021:

- Fees for payment transactions performed via the high-value payment subsystem, specifically including:

+ Payment orders received on the payment system before 3:30 pm daily:

The fee will be reduced from 0.02% to 0,005% of the payment amount (VND 1,000/item at minimum; VND 25,000/item at maximum).

+ Payment orders received on the payment system during the duration from around 3:30 pm to the time at which the payment system stops receiving payment orders daily;

The fee will be reduced from 0.02% to 0.01% of the payment amount (VND 2,000/item at minimum; VND 50,000/item at maximum).

- Fees for payment transactions performed via the low-value payment subsystem are reduced from VND 2,000/item to VND 1,000/item.

Circular No. 19/2020/TT-NHNN takes effect as of January 1, 2021, abolishing the Circular No. 04/2020/TT-NHNN (Circular No. 04 regulates fee reductions by end of December 31, 2020).

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