2023-06-26 11:32:32
Ms. Doan Hong Nhung – Deputy Director of Retail Division of Vietcombank. (Photo: Vietnam+)
From July 1, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has adjusted a number of service fees to assist customers in using cards. Grandma Doan Hong Nhung – Deputy Director of Vietcombank Retail Division shared details related to this change.
– It is known that Vietcombank adjusted some service fees from July 1, can you give details and objectives of this fee adjustment?
Ms. Doan Hong Nhung: Vietcombank has adjusted a number of card-related service fees from July 1, including a number of groups with the following objectives.
Encourage customers to convert magnetic cards to chip cards, Vietcombank applies a technology debit card maintenance fee from VND 10,000/card/month. This fee only applies to customers who have not yet converted magnetic cards to chip cards and customers will be refunded this fee when converting to chip cards and/or locking magnetic cards within 03 months from the date of charge collection.
Vietcombank wishes to encourage customers to switch to chip cards soon to increase safety and security while meeting the regulations on card technology of the State Bank and international card organizations.
To facilitate the customer’s card conversion, Vietcombank currently providing a variety of conversion channels for customers including over-the-counter and digital channels. Customers can easily convert cards online on VCB Digibank and choose to receive cards at customers’ addresses in Vietnam completely free of charge.
[Vietcombank dẫn đầu về doanh số sử dụng và thanh toán thẻ JCB]
Encourage customers to transact on digital channelsFrom July 1, Vietcombank applies card activation fees at the counter, direct card sending fees, and physical card termination fees to encourage customers to switch to digital channels and reduce costs. for customers and society, saving time and contributing to environmental protection.
Customers can register for free issuance and use Vietcombank’s non-physical card products to experience the card’s benefits on digital channels with the outstanding advantage of not having to wait for card issuance but can use use the card immediately after registration easily, conveniently and quickly.
Customers can also easily activate the free card activation on digital channels such as VCB Digibank, SMS Banking, which is both convenient, fast and safe for customers when using the card. This is also a common trend of banks in the market to direct customers to use card products on digital channels, creating convenience and safety for customers.
Support customers in the process of using the card: In order to improve customer service quality and maximize customer support in the process of using the card, as part of these fee changes, from July 1, Vietcombank will make the transaction free of charge. domestic card issued by Vietcombank instead of the current fee of 50,000 VND/tracing transaction for domestic cards (VAT included).
Particularly for fees that do not fully pay the minimum payment amount, Vietcombank does not adjust the applicable fee rate, but only adjusts the minimum fee to be in line with the general level of the market.
– The conversion from magnetic card to chip card is considered the goal of the bank, so can you tell the difference of chip technology card and why customers should convert magnetic card technology to chip technology?
Ms. Doan Hong Nhung: To increase safety security and optimizing the utility of card products, Vietcombank always tries and is ready to support customers to convert Vietcombank debit and credit cards from card technology to free of charge. chip technology card contactless (Chip contactless).
What is chip technology card? Comparison of magnetic card technology and chip technology can be understood simply as follows:
Magnetic card is a card containing a magnetic stripe with the task of storing encrypted information of the customer. The data on the magnetic card is permanently stored on the magnetic strip (the back of the card) and is encrypted only once, so it easily leads to the risk of card information theft and transaction fraud.
Chip cards are also known as “smart cards.” Cards have a microchip attached to the surface of the card, and this is the basic difference between chip cards and magnetic tape cards. For chip cards, transaction data includes data stored on the chip (front of the card) and the transaction code that changes with each transaction.
Currently, Vietcombank has applied contactless chip technology to all of the bank’s card products.
Why should we convert magnetic card technology to chip technology?? Chip card technology has been widely used in the world and has proven to be effective in reducing fraud in card transactions. Besides, chip card technology is also integrated with convenient payment features, making an important contribution to promoting non-cash payments.
Specifically, with contactless chip card technology (Chip contactless), customers will experience fast – convenient – safe payment methods, suitable for small transactions that customers often used to make. use cash such as supermarkets, convenience stores, fast food, coffee shops…
For contactless transactions, cardholders only need to touch the card to the payment terminal with the icon and complete the transaction. Especially with bills of small value, customers do not need to sign card invoices. In the future, chip contactless cards will be deployed to apply contactless payments in various fields such as smart traffic, parking lots, etc., helping to change people’s payment habits and direction. towards cashless social goals.
– Yes, so it can be understood that the adjustment of these fees is mainly to encourage customers to switch cards to more optimal products than chip technology cards and encourage customers to convert transactions on digital channels. In line with current trends to bring more convenience and safety to customers. Can you share more about Vietcombank’s product strategies this year to meet customers’ needs?
Mrs. Doan Hong Nhung: Consistent with these goals, on June 21, Vietcombank launched the VCB DigiCard non-physical card product, which is completely free of issuance and annual fees and many incentives. This is a card product built on a digital platform. Customers can register to open a card right on VCB Digibank mobile application, on the website or via EKYC online identity.
In the near future, we will also launch a series of contactless Chip technology cards that are improved from current card products and added with a variety of features and incentives to suit the needs of customers. In addition, we have also been continuing to develop digital payment channels to establish a network as well as a digital ecosystem in the issuance and use of customers’ cards to bring convenience and optimize the experience. of cutomer.
– Would like to thank you so much!
Hanh Dung (Vietnam+)
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