Circular No. 35/2014/TT-NHNN on fees for cash withdrawals from settlement accounts at the State Bank of Vietnam

CIRCULAR

Regulations on fees for cash withdrawals from settlement accounts at the State Bank of Vietnam

 at the State Bank of Vietnam

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

Pursuant to Decree No. 156/2013/NĐ-CP dated November 11, 2013, of the Government stipulating the functions, tasks, powers, and organizational structure of the State Bank of Vietnam;

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

At the proposal of the Payment Department Director;

The Governor of the State Bank of Vietnam issues this Circular to regulate fees for cash withdrawals from settlement accounts at the State Bank of Vietnam.

This Circular regulates fees for cash withdrawals from settlement accounts at the State Bank of Vietnam (hereinafter referred to as the State Bank).

Article 2. Applicability

The State Bank, credit organizations, foreign bank branches.

Article 3. Fee rate for cash withdrawals at the State Bank

When withdrawing cash through settlement accounts at the State Bank, credit organizations and foreign bank branches shall bear a cash withdrawal fee of 0.005% on the amount withdrawn.

Article 4. Responsibilities of units under the State Bank

1. Trading Department

a) Collecting cash withdrawal fees from credit organizations and foreign bank branches through settlement accounts at the unit;

a) Collecting cash withdrawal fees from credit organizations and foreign bank branches through settlement accounts at the unit;

b) Annually, no later than the 15th day of the first month of the following year, consolidate the data on cash withdrawal fees collected during the reporting year at the unit according to the Appendix attached to this Circular and submit it to the Payment Department or report as required by the Governor of the State Bank when necessary.

3. Banking inspection and supervision agencies are responsible for inspecting and supervising the implementation of this Circular and handling violations within their authority.

4. Payment Department

a) Monitoring the implementation, resolving difficulties, and advising the Governor of the State Bank on matters related to the implementation of this Circular;

Article 5. Effective Date

1. This Circular takes effect from January 15, 2015.

2. Repeal Circular No. 01/2007/TT-NHNN dated March 7, 2007 of the State Bank 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.

Article 6. Implementation Organization

The Head of the Office, Heads of Departments under the State Bank, Heads of units under the State Bank, Governors of State Bank branches in provinces and centrally-administered cities, Chairmen of Management Boards, Chairmen of Board of Members, General Directors (Directors) of credit organizations and foreign bank branches are responsible for organizing the implementation of this Circular./.