10 Hidden Fees Vietnamese Banks Don't Tell You About

The Hidden Cost of Vietnamese Banking

Vietnamese banks charge an average of 2.3 million VND ($95) in annual fees that most customers never notice. These charges hide in plain sight on your monthly statements, slowly draining your wealth.

1. SMS Banking Fees (15,000-30,000 VND/month)

Every transaction notification costs money. At 30,000 VND/month, that's 360,000 VND ($15) annually—just to know your own account balance.

How to avoid: Switch to mobile app notifications (free) or disable SMS alerts for small transactions.

2. Account Maintenance Fees

Many Vietnamese banks charge monthly maintenance fees if your balance falls below a threshold:

• Vietcombank: 30,000 VND/month if balance < 500,000 VND
• Techcombank: 20,000 VND/month if balance < 1 million VND
• ACB: 25,000 VND/month for accounts with no transactions

Annual cost: Up to 360,000 VND ($15)

3. Foreign Transaction Fees (1-3%)

Using your Vietnamese debit card abroad or for international online purchases triggers:

• Currency conversion fee: 1-3% of transaction
• International transaction fee: 10,000-50,000 VND per transaction
• Dynamic currency conversion markup: Additional 3-5%

A $100 Netflix subscription becomes $108 after fees—that's 960,000 VND ($40) wasted annually on a single subscription.

4. ATM Withdrawal Fees

Using non-network ATMs costs 1,100-3,300 VND per withdrawal. Withdraw cash 3 times weekly at out-of-network ATMs = 515,000 VND ($21) annually.

Hidden trick: Some banks charge even for in-network ATMs after your 4th free withdrawal per month.

5. Card Issuance & Annual Fees

• Debit card issuance: 50,000-150,000 VND
• Debit card annual renewal: 50,000-100,000 VND
• Credit card annual fee: 500,000-3,000,000 VND (waived first year only)

6. InterBank Transfer Fees

Transferring money to other banks costs 1,100-11,000 VND per transaction. Make 10 monthly transfers = 1,320,000 VND ($54) annually.

Free alternative: Use VietQR or bank-to-bank partnerships for fee-free transfers.

7. Paper Statement Fees

Some banks charge 20,000-50,000 VND/month for mailed paper statements.

Annual cost: 600,000 VND ($25)

Solution: Switch to e-statements (usually free).

8. Minimum Balance Penalties

Fall below the minimum balance? Banks charge both:

• Maintenance fee (20,000-30,000 VND/month)
• Low balance penalty (additional 20,000 VND/month)

9. Early Account Closure Fees

Close your savings account before maturity? Penalty fees can reach 100,000-500,000 VND plus lost interest.

10. Third-Party Payment Gateway Fees

Online shopping through payment gateways (Momo, ZaloPay, Shopee Pay) adds 1-3% transaction fees that Vietnamese banks quietly pass to customers.

How to Fight Back

Vietnamese expats and locals can save 2-4 million VND annually by:

• Reviewing statements monthly for unexpected fees
• Maintaining minimum balances to avoid penalties
• Using in-network ATMs only
• Switching to e-statements and app notifications
• Using VietQR for fee-free transfers
• Getting international cards with no foreign transaction fees

The Easiest Way to Spot Hidden Fees

Upload your Vietnamese bank statement to Bills AI. Our AI automatically identifies all fees in Vietnamese or English, calculates your annual fee total, and recommends specific actions to eliminate unnecessary charges.