Banks to charge express money transfer fees from December 1

Accordingly, IVB will stop applying the free Napas 24/7 fast money transfer service policy for individual customers, which is effective from November 21, 2023.

With the new fee collection policy, from December 1, 2025, IVB will only exempt and reduce the 24/7 fast money transfer service fee based on customers' contribution income from banking services (TOI) such as: deposits, loans, card transactions... in case TOI is worth 10 million VND or more.

In case TOI is less than 10 million VND, IVB will charge customers for fast money transfer at two levels:

The fee is VND 4,125 (including VAT) for TOI under VND 500,000 and the fee is VND 2,750 (including VAT) for TOI from VND 500,000 to under VND 10 million.

IVB said that TOI of each customer is calculated and recorded periodically by IVB system based on transaction data, products and services that customers use at the bank.

The new fee will be applied from December 1, 2025 to all individual customers, except for customers who have registered for other preferential fee packages or are enjoying preferential programs from IVB.

The "Zero Fee" fast money transfer policy implemented by banks in recent years has contributed significantly to promoting cashless payments.

The pioneering banking group implementing free fast money transfers within and outside the system are Techcombank, VPBank, TPBank, MB, Vietcombank, BIDV , VIB...

Accordingly, banks offer free unlimited money transfers. However, each bank will have regulations on transaction limits (maximum amount for one transfer and maximum total amount in a day) to ensure safety.

The State Bank informed that in the first 9 months of this year, non-cash payment transactions increased by 43.32% in quantity and 24.23% in value compared to the same period in 2024, showing a strong shift of people to digital payment channels.

Specifically, transactions via the Internet increased by 51.2% in quantity and 37.17% in value; via mobile phones increased by 37.37% and 21.79%; QR Code continued to be a bright spot with an increase of 61.63% in quantity and 150.67% in value. Meanwhile, transactions via ATM decreased by 16.77% in quantity and 5.74% in value, reflecting the trend of reducing cash use.

As of the end of September, the country had more than 10.89 million Mobile-Money accounts, of which 70% were in rural, mountainous and remote areas. In total, there were more than 290 million transactions with a value of more than VND8,500 billion.

Source: https://vietnamnet.vn/ngan-hang-thuc-hien-thu-phi-chuyen-tien-nhanh-tu-ngay-1-12-2469399.html