Many banks currently implement policies to charge fees for accounts that do not meet monthly average balance requirements or are inactive. Statistics show that over 10 domestic banks are applying such policies.
Vietnam Export Import Bank (Eximbank) recently implemented a new fee schedule starting early December. It charges 11,000 VND per month (VAT included) for accounts with a monthly average balance below 500,000 VND.
Most recently, starting early December, Vietnam International Bank (VIB) also began charging 11,000 VND for payment accounts that have not had any transactions for 12 consecutive months. According to VIB, this common banking policy encourages customers to manage their accounts more effectively. The bank advises customers to conduct transactions, visit a branch to reactivate inactive accounts, or close accounts they no longer need.
Historically, some banks waived these fees for individual customers as a strategy to attract new accounts. However, this is changing. Major player Vietcombank, for example, charges a 2,200 VND account management fee for all standard payment accounts, even those that maintain a sufficient balance. According to its fee schedule from May, major player BIDV charges 3,300 VND for accounts maintaining an average balance between 2 million VND and less than 10 million VND. Accounts with balances under 2 million VND incur a 5,500 VND fee.
Other banks also apply similar charges. PVComBank charges 11,000 VND for standard accounts with a monthly average balance below 2 million VND. ACB applies a 15,000 VND fee for traditional payment accounts and linked securities accounts with monthly average balances below 500,000 VND. At VPBank, an 11,000 VND account management fee applies to standard payment accounts with a monthly average balance below 2 million VND. LPBank charges 5,000 VND for accounts with a monthly average balance below 50,000 VND.
| Bank | Account Management Fee (Applies when minimum balance is not maintained, for standard accounts) | Minimum Average Balance Requirement |
| BIDV | 3.300 | 10.000.000 |
| VPBank | 11.000 | 2.000.000 |
| PVComBank | 11.000 | 2.000.000 |
| VietBank | 9.000 | 2.000.000 |
| HDBank | 22.000 | 1.000.000 |
| Sacombank | 6.600 | 500.000 |
| OCB | 5.500 | 500.000 |
| Eximbank | 11.000 | 500.000 |
| ACB | 15.000 | 500.000 |
| LPBank | 5.500 | 50.000 |
Unit: VND
Experts state that service fees help banks sustain system investments and enhance service quality. Additionally, charging fees for dormant or inactive accounts aligns with the State Bank of Vietnam's general policy to clean customer data and maintain active accounts. Even with infrequent transactions, banks still allocate resources for technology, security, management, and maintenance.
By Quynh Trang
