ATM card holders in Vietnam had 89.8 trillion VND (4.08 billion USD) in
42.7 million current accounts at the end of June, according to the
latest data from the State Bank of Vietnam. The savings earn 1.2 percent
in interest per year.
The central bank said that
overall savings were down by 10 trillion VND (454.54 million USD) from
early June, but still higher than the last months of 2012.
By the end of the first quarter, the amount in ATM accounts was 99
trillion VND (4.5 billion USD), much higher than the 85 trillion VND
(3.86 billion USD) for the same period last year.
The SBV said by the end of the second quarter, year-on-year current
accounts rose from 10 percent to 15 percent both in account number and
value. However, no specific comparative figures were released.
According to the Vietnam Card Association, nearly 20 years after being
introduced, millions of Vietnam’s ATM cards are still used to withdraw
cash at ATMs instead of performing non-cash transactions.
The central bank has taken measures to boost non-cash transactions,
including a draft decree on limiting the use of cash for large
transactions which is expected to be submitted to the Government for
approval this year.
Under the draft, individuals will not be allowed to pay for securities, houses, land and large vehicles with cash.
Organisations will not be allowed to use cash for transactions in real
estate, securities, aircraft, ships and cars, or transactions exceeding
the limit set by the central bank.
The central bank
is also implementing a project on non-cash payments. It hopes to have
150,000 point of sales (POS) nationwide by 2015 compared to the present
94,000.-VNA