Vietnam 2021 TO REDUCE 50% OF INTERBANK PAYMENT FEES UNTIL THE END OF JUNE 30, 2022

Date
2021-09-14 12:38
On August 23, 2021, the State Bank of Vietnam issues the Circular No. 13/2021/TT-NHNN on amending and supplementing a number of articles of the Circular No. 26/2013/TT-NHNN dated December 05, 2013 of the State Bank of Vietnam on promulgating the State Bank of Vietnam’s Payment Services Fee Schedule.

Accordingly, the State Bank of Vietnam shall reduce 50% of the payment fees for 2 services of the State Bank of Vietnam’s Payment Services Fee Schedule, including “Transaction fees via the Interbank Electronic Payment System” and “Domestic payment service fees” from September 01, 2021 to the end of June 30, 2022. To be specific:

Transaction fees for the IBPS’s high value payment sub-system for payment orders received before 15:30 of the working day shall be reduced from 0.01% of the transaction value to 0.005% of the transaction value; transaction fees for the IBPS’s high value payment sub-system for payment orders received during the period from 15:30 to the time when the system stops receiving payment orders of the working day shall be 0.01%.

Transaction fees for the IBPS’s low value payment sub-system shall be reduced from VND 2,000 per transaction to VND 1,000 per transaction.

This Circular takes effect on September 01, 2021.