SMS Banking service fee agreed at VND11,000 per month nationwide

The Ministry of Information and Communications (MIC) yesterday announced that after a throughout discussion between banks and mobile network carriers under the chair of MIC and Vietnam Banks Association, an agreement on SMS Banking service fee was reached. 

Lately, some banks have charge SMS Banking according to their rate from VND11,000-77,000 per month, depending on the message quantity.

Accordingly, commercial banks and telecoms businesses agreed upon the solution of a packaged monthly fee of VND11,000 (US$0.48), including VAT, for unlimited SMS for cashless payment service use. Not a long time ago, the fee was changed with the calculation in rates of message quantity, ranging from VND11,000-77,000 ($0.48-3.37) a month.

Deputy Director of Vietnam Telecoms Authority (under MIC) Tran Duy Hai shared that this solution is wholeheartedly welcomed by all commercial banks since it satisfies the demand of bank customers, who gradually favor cashless payment.

This new fee is basically the same as the old one used by most commercial banks, but under a new calculation method to offer unlimited data capacity for bank customers the cashless payment method.

General Secretary of Vietnam Banks Association Nguyen Quoc Hung affirmed that the packaged fee of VND11,000 a month is rational for customers. This will obviously promote the use of cashless payment and boost the growth of e-commerce in Vietnam.

Moreover, banks encourage their clients to use the OTT service, which is free of charge, besides this SMS Banking service with a new packaged fee in order to avoid any additional charge.

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