There are usually two ways to withdraw cash from an ATM card – you can either go to any branch of your bank and make an over the counter request for a withdrawal, or you can withdraw cash at an ATM machine.
Withdrawing cash in the past was more difficult, as people would have to find ATM machine that belonged to their bank to make a transaction. But since the evolution of payment providers like Smartlink, Napas, Banknet, Visa, Mastercard etc. and thanks to inter-bank connectivity, there’s more flexibility when withdrawing money from different banks’ ATM machines.
Although this evolution has brought a significant amount of convenience to people’s daily lives, there are still a large number of people who are resistant to withdrawing cash from different banks’ ATM machines. This is because there are a lot of factors to be mindful of when withdrawing from an ATM.

So what are the factors to keep in mind when withdrawing cash from another banks’ ATM machine?

  • Even though the inter-bank connection between ATMs is good, sometimes the payment providers may not be connected to all ATM machines.  Look for the symbol/logo of Smartlink, Napas, Banknet, Visa, Mastercard etc. on your card and for the corresponding payment service provider on the ATM machine you are withdrawing money from. For instance, if your ATM card is issued by NAPAS, it’s best to withdraw money from ATM machines that are linked to NAPAS for a smooth transaction.
  • Cash withdrawal fees from another banks’ ATM machines are usually higher than your card issuing  bank’s ATM machines (between 3,300 – 11,000VND/transaction for a local ATM card). However, there are banks that offer no cash withdrawal fee.
  • International banks’ cash withdrawal fees are approximately 10.000 VND to 33.000 VND when using an international Debit MasterCard/Visa Card. The fee is likely to be even higher if the transaction is made overseas at a bank ATM that is not your card issuing bank.  
  • At the end of your transaction, there should be a notification displayed on the the ATM screen. Cross check the details and confirm the transaction only if you are comfortable with the details.

Here’s why although it is more convenient to withdraw money from another banks’ ATM machines, a fair number of people still prefer to look for their issuing bank’s ATM machines to  save on withdrawal fees.