ATM with Foreign Card

    Which is the best bank ATM in Vietnam to use with a foreign MasterCard? In other words which bank gives the best exchange rate and the lowest fee?
   

    -@Bill2014

Debit card or credit card?

For debit card:

All banks tend to use the daily Vietcombank exchange rate, AND the charge of ₫22,000 VNĐ per ₫3,000,000 VNĐ withdrawal at AGRIBANK atms is usually quoted as the lowest withdrawal fee in Vietnam UNLESS you have a special card that gives you:

1. Free or rebated ATM withdrawal charges in Vietnam.

2. No foreign exchange fee, providing the higher internet  spot exchange rate, which is usually at least ₫200 VND higher than the Vietcombank rate

3. No foreign transaction fee.

Otherwise, your withdrawal is subject to the Vietnam bank's exchange rate and possibly an exchange surcharge by your bank, an additional foreign transaction fee AND the possibility that your bank covering the MasterCard will also charge you an ATM withdrawal fee.

I know you've been in  Vietnam for years, so you might know all of this and none of it may apply to you.

Info posted here for the sake of the casual reader of this thread

I read online that TP Bank and VP Bank dont have any fees whatsoever for using their ATMs

@OceanBeach92107 Have not being in Vietnam for years I don't know what makes you think that. I've just arrived from Mongolia where I have been for years.

    I read online that TP Bank and VP Bank dont have any fees whatsoever for using their ATMs
   

    -@Bill2014

So...

Did you try them?

    @OceanBeach92107 Have not being in Vietnam for years I don't know what makes you think that. I've just arrived from Mongolia where I have been for years.
   

    -@Bill2014

Do I need to repost all of your posts in the Vietnam forum since 2014?

https://www.expat.com/forum/viewtopic.php?id=411543#2192048

        @OceanBeach92107 Have not being in Vietnam for years I don't know what makes you think that. I've just arrived from Mongolia where I have been for years.        -@Bill2014

Do I need to repost all of your posts in the Vietnam forum since 2014?

https://www.expat.com/forum/viewtopic.php?id=411543#2192048-@OceanBeach92107

Also, you told the forum you were here in 2022 AND you've never changed your location since opening your account in 2014.

@OceanBeach92107

What am amazingly complete answer, OB. I don't remember seeing that info before. Good work. 👌

I lucked out joining the Schwab Team before I came here.

    @OceanBeach92107
What am amazingly complete answer, OB. I don't remember seeing that info before. Good work. 👌
I lucked out joining the Schwab Team before I came here.-@gobot 

Maybe the 2nd smartest thing you've done, P? (I've met your great wife a couple of times, so I know the #1 thing... 😎👍)

Maybe we should have a separate forum for members of the Schwab club 😉

        @OceanBeach92107What am amazingly complete answer, OB. I don't remember seeing that info before. Good work. 👌I lucked out joining the Schwab Team before I came here.-@gobot 

Maybe the 2nd smartest thing you've done, P? (I've met your great wife a couple of times, so I know the #1 thing... 😎👍)

Maybe we should have a separate forum for members of the Schwab club 😉
   

    -@OceanBeach92107

Sure. Americans only. Aussies and Pommes and other continents keep out.

Not sure about Canucks...  Nope. They are banned too.

            @OceanBeach92107What am amazingly complete answer, OB. I don't remember seeing that info before. Good work. 👌I lucked out joining the Schwab Team before I came here.-@gobot  Maybe the 2nd smartest thing you've done, P? (I've met your great wife a couple of times, so I know the #1 thing... 😎👍) Maybe we should have a separate forum for members of the Schwab club 😉        -@OceanBeach92107

Sure. Americans only. Aussies and Pommes and other continents keep out.
Not sure about Canucks...  Nope. They are banned too.
-@gobot

We've got to have a token Scot (goodolboy is a Schwab International genius)

                @OceanBeach92107What am amazingly complete answer, OB. I don't remember seeing that info before. Good work. 👌I lucked out joining the Schwab Team before I came here.-@gobot  Maybe the 2nd smartest thing you've done, P? (I've met your great wife a couple of times, so I know the #1 thing... 😎👍) Maybe we should have a separate forum for members of the Schwab club 😉        -@OceanBeach92107Sure. Americans only. Aussies and Pommes and other continents keep out. Not sure about Canucks...  Nope. They are banned too.-@gobot

We've got to have a token Scot (goodolboy is a Schwab International genius)
   

    -@OceanBeach92107

OB,I would love to help or advise on non US citizen obtaining a Schwab 1 International account but there is a small problem with that as I will explain now............As stated before somewhere on here I have been a Schwab customer/trader for 30+ years . My history with Schwab centres on my employment in the oil industry & employment with US oil drilling companies since 1982 & since then my salary was paid in USD & my company HQ's all based in Houston Texas. When I opened my account with Schwab 30+ years ago I had a US bank account & employment history & as I remember my original account was not even a Schwab International Account & stayed like that for about 10 years. After aprox 10 years because my account address was in Scotland I received correspondence from Schwab that my account was automatically being transferred to Schwab 1 International & I had nothing to do to progress that happening.

As over the years I have always had considerably more than the minimum 25k USD in the account there has never been an issue & even now because of age & looking to take care of my financial stuff for my kids I have ran the account right down now & in actual fact is below the 25k minimum (stocks & cash) but I have it in writing from Schwab that because of my long standing history with them my account privilege's have not been effected so  ATM fees are still re funded immediately & international funds transfers out of account are free.

So to be honest this is why I have been reluctant to come in with any comments or advice to anyone wanting to open a Schwab International account now  as any relevant & updated information on this I don't have so would only be me checking on the internet where all the relevant forms & information is readily available.

Hope this explains

                    @OceanBeach92107What am amazingly complete answer, OB. I don't remember seeing that info before. Good work. 👌I lucked out joining the Schwab Team before I came here.-@gobot  Maybe the 2nd smartest thing you've done, P? (I've met your great wife a couple of times, so I know the #1 thing... 😎👍) Maybe we should have a separate forum for members of the Schwab club 😉        -@OceanBeach92107Sure. Americans only. Aussies and Pommes and other continents keep out. Not sure about Canucks...  Nope. They are banned too.-@gobot We've got to have a token Scot (goodolboy is a Schwab International genius)        -@OceanBeach92107

OB,I would love to help or advise on non US citizen obtaining a Schwab 1 International account but there is a small problem with that as I will explain now............As stated before somewhere on here I have been a Schwab customer/trader for 30+ years . My history with Schwab centres on my employment in the oil industry & employment with US oil drilling companies since 1982 & since then my salary was paid in USD & my company HQ's all based in Houston Texas. When I opened my account with Schwab 30+ years ago I had a US bank account & employment history & as I remember my original account was not even a Schwab International Account & stayed like that for about 10 years. After aprox 10 years because my account address was in Scotland I received correspondence from Schwab that my account was automatically being transferred to Schwab 1 International & I had nothing to do to progress that happening.
As over the years I have always had considerably more than the minimum 25k USD in the account there has never been an issue & even now because of age & looking to take care of my financial stuff for my kids I have ran the account right down now & in actual fact is below the 25k minimum (stocks & cash) but I have it in writing from Schwab that because of my long standing history with them my account privilege's have not been effected so  ATM fees are still re funded immediately & international funds transfers out of account are free.

So to be honest this is why I have been reluctant to come in with any comments or advice to anyone wanting to open a Schwab International account now  as any relevant & updated information on this I don't have so would only be me checking on the internet where all the relevant forms & information is readily available.

Hope this explains
   

    -@goodolboy

Very helpful, GOB.

Reminds me of the Dickens classic, "Great Explanations" 😉

Seriously, anyone needing more info can find it at:

international.schwabDOTcom

(residents of Vietnam are not eligible, so must be able to prove residency in an approved nation)

@OceanBeach92107

We are not all internet addicts. Maybe I was here for a while a while back but I don't feel the need join expat.com wherever I go.

    @OceanBeach92107
We are not all internet addicts. Maybe I was here for a while a while back but I don't feel the need join expat.com wherever I go.
   

    -@Bill2014

Probably just as well.

You choose to ignore extensive helpful replies and glom onto a single sentence that was well founded but not critical.

Just a simple observation, acknowledging you might not need all the info I shared because of your longtime involvement in Vietnam since 2010.

Good luck with your ungracious mindset.

  Which is the best bank ATM in Vietnam to use with a foreign MasterCard? In other words which bank gives the best exchange rate and the lowest fee?
 

  -@Bill2014
Debit card or credit card?



For debit card:

All banks tend to use the daily Vietcombank exchange rate, AND the charge of ₫22,000 VNĐ per ₫3,000,000 VNĐ withdrawal at AGRIBANK atms is usually quoted as the lowest withdrawal fee in Vietnam UNLESS you have a special card that gives you:

1. Free or rebated ATM withdrawal charges in Vietnam.

2. No foreign exchange fee, providing the higher internet spot exchange rate, which is usually at least ₫200 VND higher than the Vietcombank rate

3. No foreign transaction fee.

Otherwise, your withdrawal is subject to the Vietnam bank's exchange rate and possibly an exchange surcharge by your bank, an additional foreign transaction fee AND the possibility that your bank covering the MasterCard will also charge you an ATM withdrawal fee.

I know you've been in Vietnam for years, so you might know all of this and none of it may apply to you.

Info posted here for the sake of the casual reader of this thread - @OceanBeach92107

Updating recently paid fees:

AGRIBANK outside of the Expat bubble in Đà Nẵng continues to charge ₫22,000 VNĐ to withdraw ₫3,000,000 VNĐ

HOWEVER, the fee for a ₫5,000,000 VNĐ withdrawal at MB (Military Bank) has increased from ₫49,500 VNĐ to ₫66,000 VNĐ at ATMs.

It's not a problem for me since all of my Schwab Visa debit card ATM withdrawal fees are rebated every month.

However, I've regularly recommended MB ATMs for being easier & cheaper to use.

Still easier but not as cheap any longer.

It's POSSIBLE that this increase in fees only applies to foreign cards, but since that's what most foreigners use...

(It would be interesting to hear from a Vietnamese citizen to see if the same fee applies to non-MB domestic card withdrawals at MB)

@Bill2014

No atm fee at VP and TP bank for my foreign debit and credit card

@Bill2014
No atm fee at VP and TP bank for my foreign debit and credit card - @Moolgan

...and yet, I've been charged ATM withdrawal fees using my Schwab Visa debit card at both banks.

So it may be that your particular brand of debit card (the financial institution that sponsors it) isn't charged while other cards are.

Tell us more about your foreign debit & credit cards

@OceanBeach92107

I arrived yesterday from London ( suitably jet lagged) and used my UK issued JP Morgan Chase debit card at the only(🧐) ATM machine in the airport arrivals hall. No fees charged. The phone app gives you immediate confirmation of the amount. Always useful when you get the dreaded message’ transaction declined’

First time in Vietnam. Very impressed with the level of courteous and professional service so far.

@OceanBeach92107
I arrived yesterday from London ( suitably jet lagged) and used my UK issued JP Morgan Chase debit card at the only(🧐) ATM machine in the airport arrivals hall. No fees charged. The phone app gives you immediate confirmation of the amount. Always useful when you get the dreaded message’ transaction declined’
First time in Vietnam. Very impressed with the level of courteous and professional service so far. - @Lotus Eater

Welcome!

Some banks (Sacombank comes to mind) don't itemize ATM fees on receipts.

(for the casual reader) The only way to know for sure is to take the State Bank of Vietnam exchange rate on that day and divide the amount received by that exchange rate to see if there is a "hidden" fee.

Also, NEVER accept the screen offering the bank's exchange rate.

Cheers!

O.B.

@OceanBeach92107

Thank you Ocean Beach. You bring a certain decorum to this Forum. Something that is missing right now on the Philippines Forum

@OceanBeach92107
Thank you Ocean Beach. You bring a certain decorum to this Forum... - @Lotus Eater

It's been an evolutionary process 😉

@OceanBeach92107

My cards are from Swedish financial institutions

Both have 0% in exchange fee and 0 in atm fee

The cc have a ~$2 / monthly fee

The debit card is free

When I find a atm without fee I only pay the visa/mc %

The debit card give 2% in interest and I can transfer money to the card in seconds with the Swedish “swish”

My guess is that’s the fee is from financial institutions not the atm ?

Sorry for my Swedish/English

I hope you understand 😊

There is one other possibility for ATM cards not being charged for withdrawals:

If your card and the ATM are both in the same network, then it's very possible no fee would be charged, but that will depend on the individual cardmember agreement.

For instance, my Schwab Visa debit card is connected to the "MoneyPass" network.

I can use my card anywhere in the world and have ATM withdrawal fees rebated at the end of the month.

However, if I use the card at a MoneyPass system ATM in the states, no ATM fee is charged so there's no need to rebate me anything.

I'm thinking that certain cards may be connected to the same payment networks as certain banks in Vietnam with no fees being charged in that mutual network.

It would definitely be interesting if someone not being charged could compare the network of their card with the networks listed on the ATM