Circular No. 01/2007/TT-NHNN guides the fee levels for cash transactions and the cash transaction limits for state-owned capital organizations. Service providers are entitled to charge fees ranging from 0% to 0.05% of the amount of cash transactions, while state-owned capital organizations must make payments exceeding VND 30 million through non-cash payment instruments.
Scope of application
Service providers and state-owned capital organizations.
Key points
- Service providers are entitled to charge fees ranging from 0% to 0.05% of the amount of cash transactions when withdrawing money from ATMs without being subject to this fee limit (Article 1).
- State-owned capital organizations must make payments exceeding VND 30 million through non-cash payment instruments, while payments under VND 30 million may be made in cash (Article 3).
- The fee level for cash transactions that service providers are entitled to charge ranges from 0% to 0.05% of the amount of cash transactions (Article 1).
- State-owned capital organizations do not include agencies and organizations using state budget funds which fall within the scope regulated by the Circular guiding the management of cash receipts and payments through the State Treasury System issued by the Ministry of Finance (Article 2).
- This Circular takes effect fifteen days after its publication in the Official Gazette (Article 4).
🌐 Social impact of this document
- Positive impact: Reducing the burden of costs for service providers and the public when using non-cash payment instruments.
- Negative impact: Increased management costs for state-owned capital organizations due to the requirement to switch from cash to other payment methods.
❓ Frequently asked questions
What fees can service providers collect?
Service providers are entitled to charge fees ranging from 0% to 0.05% of the amount of cash transactions (Article 1).
Can state-owned capital organizations make payments under VND 30 million in cash?
Yes, state-owned capital organizations are permitted to use cash for payments up to VND 30 million (Article 3).
What is the fee level for cash transactions that service providers are entitled to charge?
Service providers are entitled to charge fees ranging from 0% to 0.05% of the amount of cash transactions (Article 1).
Do state-owned capital organizations include agencies and organizations using state budget funds?
No, agencies and organizations using state budget funds fall within the scope regulated by the Circular guiding the management of cash receipts and payments through the State Treasury System issued by the Ministry of Finance (Article 2).
When does this Circular take effect?
This Circular takes effect fifteen days after its publication in the Official Gazette (Article 4).
Full text
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./.
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