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CARDS & PAYMENTS | Cesar Tordesillas, Vietnam
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ACB becomes first Vietnamese bank to offer money transfer via ATMs

Asia Commercial Bank has launched a new service that allows its cardholders to transfer money to other banks through automatic teller machines.

 

It has become the first institution in the nation to make this kind of transfer possible.

This is the outcome of a cooperation deal between ACB and Smartlink Card Services Joint Stock Company that runs the Smartlink card network with 27 bank members.

This month ACB cardholders can conduct money transfer transactions with those of Sacombank and the service will be expanded to Vietcombank in August. By the year’s end, money can be transferred between cardholders of the Smartlink network member banks. ACB cardholders pay no extra charge for using the service within three months.

Money transfer via ATMs among cardholders of different banks is a goal in HCMC’s plan to develop banking services from now to 2015. The plan is to deploy the service in the entire banking system in 2013-2015.

At the moment, customers of a bank can only transfer money to accountholders at other banks at that bank’s transaction offices or via Internet banking service.

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