CIRCULAR

PROVIDING GUIDELINES ON ARTICLES 4 AND 7 OF DECREE 161/2006/ND-CP OF THE GOVERNMENT DATED 28 DECEMBER 2006 ON PAYMENTS IN CASH

Pursuant to articles 4 and 7 of Decree 161/2006/ND-CP of the Government dated 28 December 2006 on payments in cash;
The State Bank provides the following guidelines on the level of fees for cash transactions which institutions providing payment services shall be permitted to collect; and on the limit on cash payments by organizations using State capital:

1. Level of fees for cash transactions as stipulated in this Circular means the level of fees payable on a withdrawal of cash by any organization or individual at an institution providing payment services. Such institution may make its own decision on collection of fees from organizations and individuals being clients of the institution in specific cases, consistent with the nature and scale of the business activities of the units of such institution.

The level of fees for cash withdrawals which institutions providing payment services shall have the right to collect shall be from 0% to 0.05% of the amount of the cash transaction, but this limit shall not apply to withdrawals from ATMs (automatic telling machines).

2. Organizations using State capital as stipulated in this Circular means organizations using credit facilities of the State, credit facilities guaranteed by the State, State capital in State owned enterprises and other capital sources managed by the State, and which have opened a deposit and payment account at an institution providing payment services. Such organizations do not include entities using State Budget funds and which are subject to regulations in Circulars of the Ministry of Finance on management of cash revenue and cash expenses via the State Treasury system.

3. When an organization using State capital makes a payment of over thirty million VND for the one payment objective to a beneficiary with a deposit and payment account at an institution providing payment services [or] the State Treasury, then such organization must use payment methods other than cash to make such disbursement; but such organization may make the disbursement in cash for any payment of thirty million VND or less.

4.This Circular shall be of full force and effect after 15 days from the date of its publication in the Official Gazette.

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ON BEHALF OF THE GOVERNOR OF THE STATE BANK
DEPUTY GOVERNOR




Nguyen Dong Tien