Bank also ceases money transfers involving foreigners, citing SBV regulations.
The Bank for Foreign Trade of Vietnam (Vietcombank) has announced it has terminated ATM and money transfer services for foreigners, regardless of whether they are resident in Vietnam or not.
ATM transactions between Vietcombank accounts in which the recipients are foreigners will no longer be processed. It will also not accept any transaction from other banks in which the recipient is a foreigner with a Vietcombank account.
The bank explained that ATM transactions do not allow the bank to check the information of the account owner, so it decided to terminate the service in order to obey the regulations of the State Bank of Vietnam on ATM services for foreigners.