TNC Business Strategy Research
Vietnam 2020 THE CHARGE FOR TRANSFERRING MONEY OVERSEAS FOR PAYMENT IN EUR
THE CHARGE FOR TRANSFERRING MONEY OVERSEAS FOR PAYMENT IN EUR
According to the new regulations under the Circular No. 15/2020/TT-NHNN, the Transaction Bureau of the State Bank, the State Bank’s branches at provinces and central affiliated cities shall collect the charge for transferring money overseas with the rate of 0,15% of transferred amount for payment in EUR (EUR 02/item at minimum; EUR 200/item at maximum).
Besides, the charge for receiving money from overseas for payment in EUR shall be 0,05% of received amount (EUR 01/item at minimum; EUR 100/item at maximum). The charges for transferring money overseas and receiving money from overseas for payment in US Dollar shall be equal to the ones as specified before.
In addition, the State Bank defines that the charge for maintenance of outstanding deposits on foreign-currency payment accounts shall be calculated based on actual outstanding deposits, the number of dates maintaining such deposits and conversion charge rate by percentage per annum. The charge rate shall be decided by the Governor of the State Bank for each period
This Circular takes effect on February 01, 2021.