Circular No. 01/2007/TT-NHNN guiding the implementation of Article 4 and Article 7 of Decree No. 161/2006/NĐ-CP dated December 28, 2006 of the Government on cash transactions.

CIRCULAR

Guidelines for implementing Article 4 and Article 7 of Decree No. 161/2006/NĐ-CP dated December 28, 2006, of the Government on cash transactions

dated December 28, 2006, of the Government on cash transactions

_________________________________

Pursuant to Article 4 and Article 7 of Decree No. 161/2006/NĐ-CP dated December 28, 2006, of the Government on cash transactions;

The State Bank of Vietnam guides the transaction fee levels for cash transactions that service providers are entitled to collect from organizations and individuals, and the cash payment limit for organizations using state capital as follows:

1. The transaction fee level for cash withdrawals stipulated herein applies to cash withdrawals made by organizations and individuals at service providers. Service providers have the right to decide whether to charge fees from their organizational and individual customers in specific cases consistent with the nature and scale of their business operations.

The cash withdrawal fee that service providers are entitled to collect ranges from 0% to 0.05% of the amount of the cash transaction, and there is no fee cap for cash withdrawals from automated teller machines.

2. Organizations using state capital referred to herein are those utilizing state credit funds, credit funds guaranteed by the state, state capital in state-owned enterprises, and other sources of capital managed by the state and maintaining deposit accounts with service providers. These organizations do not include agencies and organizations using state budget funds subject to the regulations set forth in the Circular guiding the Ministry of Finance's management of cash receipts and payments through the State Treasury System.

3. When making payments to beneficiaries who maintain deposit accounts with service providers or the State Treasury, organizations using state capital must use non-cash payment methods for payments exceeding VND 30 million for the same purpose; for payments up to VND 30 million, they may use cash.

This Circular shall take effect fifteen days after its publication in the Official Gazette.

Any issues encountered during implementation should be reported to the State Bank of Vietnam for study, consideration, and resolution./.