Circular 27/2019/TT-NHNN amend Circular 35/2014/TT-NHNN service fees for cash withdrawal transactions via payment accounts at State Bank

  • Summary
  • Content
  • Status
  • Vietnamese
  • Download
Save

Please log in to use this function

Send link to email

Please log in to use this function

Error message
Font size:

ATTRIBUTE

Circular No. 27/2019/TT-NHNN dated December 25, 2019 of the State Bank of Vietnam on amending and supplementing a number of Articles of the Circular No. 35/2014/TT-NHNN dated November 20, 2014 of the State Bank Governor of Vietnam on service fees for cash withdrawal transactions via payment accounts at the State Bank of Vietnam
Issuing body: State Bank of VietnamEffective date:
Known

Please log in to a subscriber account to use this function.

Don’t have an account? Register here

Official number:27/2019/TT-NHNNSigner:Nguyen Kim Anh
Type:CircularExpiry date:Updating
Issuing date:25/12/2019Effect status:
Known

Please log in to a subscriber account to use this function.

Don’t have an account? Register here

Fields:Finance - Banking

SUMMARY

The Credit institutions may be exempted from monthly cash withdrawal fee

On December 25, 2019, the State Bank of Vietnam promulgates the Circular No. 27/2019/TT-NHNN on amending and supplementing a number of Articles of the Circular No. 35/2014/TT-NHNN dated November 20, 2014 of the State Bank Governor of Vietnam on service fees for cash withdrawal transactions via payment accounts at the State Bank of Vietnam.

Accordingly, credit institutions, branch of a foreign bank shall be exempted from monthly service fee in case the cash value withdrawn via payment accounts is smaller or equal to the value of cash not qualified for circulation remitted to the State Bank where the account opened. If the above amount is exceeded, the above organizations will be charged 0.005% of the positive difference in the month.

Besides, this Circular also supplement regulation on method of collecting method of collecting cash withdrawn fee. To be specific: after calculated and received the fee of credit institution, foreign bank branch, the Operation Center, municipal and provincial State Bank branches shall base on fee collecting record to  note in Accounting Account System. Otherwise, the regulation on summarizing data of cash withdrawn in the Operation Center and provincial, municipal State Bank branches also be repealed.

This Circular takes effect on May 01, 2020.
For more details, click here.
Download files here.
LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency
Effect status: Known

THE STATE BANK OF 

VIETNAM

-------------

No. 27/2019/TT-NHNN

THE SOCIALIST REPUBLIC OF VIETNAM

Independence - Freedom - Happiness

--------------

Hanoi, December 25, 2019

 

CIRCULAR

Amending and supplementing a number of Articles of the Circular No. 35/2014/TT-NHNN dated November 20, 2014 of the State Bank Governor of Vietnam on service fees for cash withdrawn transactions via payment accounts at the State Bank of Vietnam

---------------

Pursuant to the Law No. 46/2010/QH12 dated June 16, 2010 on the State Bank of Vietnam;

Pursuant to Decree No. 222/2013/NĐ-CP dated 31 December 2013 of the Government on the payment in cash;

Pursuant to the Decree No. 16/2017/ND-CP dated 11 November 2017 of the Government, providing for functions, duties, authorities and organizational structure of the State Bank of Vietnam;

At request of the Director of the Department of Payment;

The Governor of the State Bank of Vietnam hereby promulgate the Circular on amending and supplementing a number of Articles of the Circular No. 35/2014/TT-NHNN dated November 20, 2014 of the State Bank Governor of Vietnam


on service fees for cash withdrawn transactions via payment accounts at the State Bank of Vietnam.

Article 1. To amend and supplement a number of Article of the Circular No. 35/2014/TT-NHNN dated November 20, 2014 of the State Bank Governor of Vietnam on service fees for cash withdrawn transactions via payment accounts at the State Bank of Vietnam (hereinafter referred to as the Circular No. 35/2014/TT-NHNN)

1. To amend and supplement Article 3 as follows:

“Article 3. Fee of cash withdrawn at the State Bank of Vietnam

1. Credit institutions, branch of a foreign bank shall be exempted from monthly service fee in case the cash value withdrawn via payment accounts is smaller or equal to the value of cash not qualified for circulation remitted to the State Bank where the account opened.

2. Credit institutions, branch of a foreign bank shall pay the service fee equal to 0.005% of the positive difference in the month between the value of cash withdrawn via payment accounts minus the value of cash not qualified for circulation and remitted to the State Bank where the account opened.

2. To add Article 3a as follows:

“Article 3a. Collecting method of cash withdrawn

Monthly, after calculated and collected the service fee for cash withdrawn of credit institution and branch of foreign bank, the Exchange Department, provincial and municipal branch of the State Bank of Vietnam shall basis on charge receipts in the Appendix attached to this Circular, calculate and note the fee of cash withdrawn onto the System of Accounting Account as prescribed in the Circular No. 19/2015/TT-NHNN dated October 22, 2015 on regulation of System of Accounting Account of the State Bank of Vietnam and the handbook of manual operating of Core Banking system, budget accounting and system integration”.

1. To amend and supplement point b of Clause 4, Article 4 as follows:

“b) To summarize and report data on cash withdrawn fee via payment accounts at the State Bank at the request of the Governor of the State Bank”.

2. To add Clause 5 Article 4 as follows:

“5. The Information Technology Department:

Create professional software for automatic calculation and collection, and automatically supplementing the relevant reporting forms into the State Bank's statistical and financial reporting information system”.

Article 2.

1. To repeal point b Clause 1 Article 4, point b Clause 2 Article 4 of the Circular No. 35/2014/TT-NHNN.

2. To replace the Appendix of the Circular No. 35/2014/TT-NHNN

Article 3. Responsibility for implementation organization

Director of the State Bank's Office, Director of Payment Department, Heads of units of the State Bank of Vietnam, General Managers of State Bank's branches in provinces, cities under the Central Government's management; Chairman of Board of Directors, Board of Members and General Directors (Directors) of credit institutions shall be responsible for the implementation of this Decision.

Article 4. Implementation provisions

This Circular takes effect on May 01, 2020/./.

For the Governor of the State Bank of Vietnam

The Deputy Governor

Nguyen Kim Anh

 

Appendix

Record of service fees for cash withdrawn transactions via payment
accounts at the State Bank of Vietnam

(Attached to the Circular No. 27/2019/TT-NHNN dated December 25/2019
of the State Bank of Vietnam)

Name of unit: Operation Center/Branch of the State Bank Client's name (credit institutions and foreign bank branches): Data: Month          Year

Account Number:

Account Name:

Unit: VND

No.

Date

Number of records

Credit

Ac

count

Withdrawn amount

(VND

Amount of cash not qualified for circulation and remitted

Difference

(1)- (2)

Fee

(VND million)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

(1)

(2)

(3)

(4)

 

 

Amount of cash withdrawn fee in (month)... of (year)........................................................................... is: ..............

 

Instruction for making record and summarize data:

- Record making unit: The Operation Center, Provincial and municipal branches of the State Bank of Vietnam

- The cross-checking is performed by agreement between the Operation Center, Provincial and municipal branches of the State Bank of Vietnam and credit institution, foreign bank branch.

- Detail:

(1) is the amount in VND that credit institution, foreign bank branch withdraw in that month via the credit account at the facility of the State Bank where account opened.

(2) is the amount of cash not qualified for circulation in that month and credit institution, foreign bank branch remit to the State Bank where account opened.

Formula

+ If (3) < 0 then (4) = 0
+ If (3) > 0 then (4) = (3) x 0.005%

Please log in to a subscriber account to see the full text. Don’t have an account? Register here
Please log in to a subscriber account to see the full text. Don’t have an account? Register here
Processing, please wait...
LuatVietnam.vn is the SOLE distributor of English translations of Official Gazette published by the Vietnam News Agency

VIETNAMESE DOCUMENTS

Circular 27/2019/TT-NHNN DOC (Word)

This utility is available to subscribers only. Please log in to a subscriber account to download. Don’t have an account? Register here

Circular 27/2019/TT-NHNN PDF (Original)

This utility is available to subscribers only. Please log in to a subscriber account to download. Don’t have an account? Register here

ENGLISH DOCUMENTS

LuatVietnam's translation
Circular 27/2019/TT-NHNN DOC (Word)

This utility is available to subscribers only. Please log in to a subscriber account to download. Don’t have an account? Register here

Circular 27/2019/TT-NHNN PDF

This utility is available to subscribers only. Please log in to a subscriber account to download. Don’t have an account? Register here

* Note: To view documents downloaded from LuatVietnam.vn, please install DOC, DOCX and PDF file readers
For further support, please call 19006192

SAME CATEGORY

loading