Lower transaction fees when using VIB services

September 08, 2014 | 19:00

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The Vietnam International Bank today introduced to customers the Freedom package that integrates all personal banking services with various functions and features including saving up to VND1.4 million ($66) of transaction fees for all personal banking services each year plus additional 0.5 per cent per annum interest rate when making term deposit and 0.5 per cent per an annum discount in interest rate when applying for loans.

Accordingly, each personal customer who registers for the bank’s Freedom package will enjoy more benefits than using single banking services.

Particularly, when using the Freedom package, customers would immediately enjoy five personal financial products immediately, including current account, domestic debit card, VIB Debit MasterCard, SMS Banking service, and E-banking service (Internet Banking and Mobile Banking), with a lot of attractive functions as stated above including free fees for transactions on current account (cash withdrawal at over 14,000 ATMs of all local banks, money transfer within the bank (VIB) system and 10 first interbank money transfers each month via Internet Banking and Mobile Banking, electricity bill payment, telephone bill payment).

The customers also enjoy no management fee on current account, issuance fee and annual fee of all products under the package and 30 per cent discounts on family and individual health insurance.

While some banks have charged ATM cash withdrawal and the State Bank of Vietnam is collecting ideas for a draft regulation on charging cash withdrawal and top-up fees, VIB has attracted great attention from customers by introducing this Freedom package with a raft of free fees and outstanding functions.

“We are confident that with these practical and value-added features, the package will be warmly welcomed and supported by customers,” said Rahn Wood, head of VIB’s Retail Banking.

Previously, VIB became the first bank to offer free cash withdrawal at over 14,000 ATMs of all local banks across the country from June 15, 2012.

By By Mai Thuy

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