Is it free to withdraw money from any ATM?

ATM Withdrawal Fees in Vietnam: Understanding the Charges and Exceptions

When it comes to accessing cash from ATM machines in Vietnam, understanding the associated withdrawal fees is crucial. The fee structure can vary across different banks and account types.

Fees for Local Bank Account Holders

• Some local banks, such as Vietcombank and BIDV, offer free ATM withdrawals for their account holders.
• However, certain banks may charge a nominal fee for withdrawals from ATMs belonging to other banks.

Fees for Non-Customers

• Non-customers of the bank operating the ATM typically face withdrawal fees. These fees can range from approximately VND 5,000 to VND 20,000 per transaction.

Exceptions

• Some banks may offer withdrawal fee waivers for specific ATMs or during certain time periods. For example, VietinBank offers free withdrawals from its “smart” ATMs.
• Additionally, certain international banks, such as HSBC, waive ATM withdrawal fees for their account holders when using specific ATM networks in Vietnam.

Tips for Minimizing ATM Withdrawal Fees

• If possible, withdraw cash from ATMs operated by your own bank to avoid withdrawal fees.
• Check with your bank for any fee waivers or discounts on ATM withdrawals.
• Consider using mobile payment services or e-wallets to reduce the need for cash withdrawals.
• If withdrawal fees are unavoidable, choose ATMs with lower fees or plan to withdraw larger amounts less frequently.

Conclusion

ATM withdrawals in Vietnam can involve fees depending on the bank and account status. While some local banks offer free withdrawals for their customers, non-customers typically face charges. However, certain exceptions exist, such as fee waivers for specific ATMs or international bank accounts. By understanding the fee structure and taking advantage of these exceptions, individuals can minimize their ATM withdrawal costs in Vietnam.