According to a report released by the Da Nang branch of the State Bank of Viet Nam (SBV), ATM, MasterCard and VISA users across the city are being charged 6 types of fees by the credit organisations.  These are for issuing new credit cards, annual use, late payment, foreign currency conversion, account information and statement enquiries, and transfers. 

In addition, credit card interest rates are higher than bank loan interest rates.  Techcombank charges 31% pa, HSBC 31.2% pa, ACB 25.8% pa, VAB 25.2% pa, PG Bank 25% pa, ABBANK 21% pa, Vietcombank 20% pa, and VietinBank 18% pa.  These rates are currently 3.5 to 5 times higher than the interest rates for deposits at local banks.

The municipal People’s Committee has asked SBV to introduce measures to better manage the charging of these fees and interest rates, and reduce the charges at too high a rate.