Notice of SMS banking service fee adjustment and encouragement for customers to receive free balance change notifications on VPBank NEO app

07/29/2024

Monitoring balance fluctuations is a legitimate right of account holders, so banks are always concerned about how to provide the most convenient, timely and economical service for account holders.

Recognizing the disadvantages of sending balance changes via SMS banking, since 2020, VPBank has provided a balance change notification service on the app, completely free of charge, helping account holders/cardholders update balance changes promptly, with absolute confidentiality and increasing consumer experience according to modern technology trends.

Compared to the disadvantages of SMS banking (risk of personal information disclosure, high costs, possible delays...), receiving balance change notifications on the VPBank NEO app has outstanding advantages:

Free for life
Increased information security (only account owners can log in to track balance information)
No delay
Does not take up device space, so data can be stored for years
Information is not limited in capacity so each notification contains more transaction information, making it easy to check in any situation.

However, we understand that there are still customers who need to receive balance changes via SMS banking service, therefore, VPBank still maintains this information channel and designs cost packages suitable for the actual needs of each customer's message generation.

From September 1, 2024, VPBank will change the SMS banking service package fee schedule as follows:

Basic Package

Upgrade Package

Minimum transaction value to receive real estate

From 200,000 VND or more

From 100,000 VND or more

Fee (calculated on 1 payment account/1 phone number/month)

From 0 -15 SMS: 10,000 VND
From 16-30 SMS: 20,000 VND
From 31-50 SMS: 30,000 VND
From 51-100 SMS: 70,000 VND
From 101 SMS or more: 100,000 VND and additional fee of 700 VND/SMS for the 101st message or more

The maximum fee for customers using this package is 1,000,000 VND/month.

Includes 2 types of fees: (1) Fixed fee for package usage: 100,000 VND/account/phone number/month and (2) Fee based on actual number of SMS:

From 0 -15 SMS: 10,000 VND
From 16-30 SMS: 20,000 VND
From 31-50 SMS: 30,000 VND
From 51-100 SMS: 70,000 VND
From 101 SMS or more: 100,000 VND and additional fee of 700 VND/SMS for the 101st message or more

The maximum fee for customers using this package is 1,100,000 VND/month.

Note:

This fee schedule does not apply to Diamond and Diamond Elite priority customer segments.
This fee schedule does not include VAT and is effective from September 1, 2024 until further notice from VPBank.
Current detailed fee schedule please see here

With this change, VPBank hopes that customers will switch from managing balance fluctuations on SMS banking (fee-based) to managing on the VPBank NEO app (free for life) to help save costs for both customers and the bank. Because the fee that the bank charges is based on the fee announced by the telecommunications company and only charges for messages notifying balance fluctuations, while for other messages such as sending OTP codes, notifications of changes in personal information upon request, debt reminder notifications, etc., the bank will pay the fees to the telecommunications companies.

To change the form of receiving real estate, customers can proactively do it with simple steps (instructions below). From the time of completing the steps to register to receive real estate notifications completely via the App and simultaneously canceling the service of receiving real estate notifications via text messages (SMS), customers will no longer incur additional SMS banking fees.

For cases of tracking balance fluctuations of the same account but registered on different phone numbers, please call the hotline 1900 54 54 15 (for Standard Customers) / 1800 54 54 15 (for Priority Customers) for support.

Source: https://www.vpbank.com.vn/tin-tuc/tin-vpbank/2024/thong-bao-dieu-chinh-phi-dich-vu-sms-banking