Citibank charges

how much do you want to withdraw at a time? The fees for normal atm transactions are not terribly high, maybe 2 usd per 2 million vnd withdraw.

VungTauDon wrote:

how much do you want to withdraw at a time? The fees for normal atm transactions are not terribly high, maybe 2 usd per 2 million vnd withdraw.

Thanks for the info Don. I was thinking of withdrawing say US$2000 a month. Do you also have a Citibank account in your home country & use the local Citibank ATMs to withdraw money regularly?

No, I just use a small local Texas bank, Prosperity Bank. I usually go to Vietcombank and withdraw 2000 usd at the credit card desk. They swipe it just like your making a purchase. Cost 3% but it is easy and convenient for me.

The best place to look is in the fine print on the Citibank website or ring them.

You probably know that many banks charge a fee for foreign ATM access and a currency conversion fee as well. Sometimes deals on traveller's cards look OK, but the exchange rate is poor.

Citibank in Australia has or had the best deal in not charging fees for international ATM access, debit card purchases and currency transfers. Saves heaps. I don't know if that is the case everywhere.

The local ATM fee of 20-40 000 VND is trivial compared to the pounding most people get from their home bank, but can be avoided by using Citibank ATMs.

visothsumtw wrote:

I am thinking about how to transfer money from my home country to HCMC with the lowest charges when I came across the Citibank website & their global banking. So I thought maybe I can simply start a Citibank account in my home country & withdraw cash from any Citibank ATM in Vietnam. Is it really as simple as that, or are there hefty (my gut feel) charges involved? Can someone please enlighten me on this? Your knowledge and experience on this is greatly appreciated. Thank you.

Citibanks Global transfer is free of charge. You must be a foreign passport holder in order to open a foreign currency account at Citibank Vietnam and as of now their Global Transfer are not working for transfers from US, UK, and Germany.

I use to do the same as VungTauDon and use the counter at Vietcombank but they no longer charge your card in USD in Bien Hoa so I was getting hit with a double fee. You use to be able to withdraw from Techcombank ATM's up to 20 million VND but it has ended also. Yesterday I tried 6 different bank ATM's and none would let me withdraw more than 2 million at a time.

Parmyd yes it looks like all the ATM's are now down to 2mil a pop. Tried 4 different bank ATM's Friday. Tried to use my card at the VCB here in Can Tho but they wouldn't accept my photo copied passport. I get it back next week after I get my new visa, and I'll try again.

"...yes it looks like all the ATM's are now down to 2mil a pop."

Including the big foreign banks in HCMC? ANZ used to be 20 000 000 VND.

One local ATM in Phu Nhuan that used to do 3 000 000 seems to now be down to 2 000 000, though.

Anybody tried Agri-Bank ATM's lately ???

Budman,
HSBC in Can Tho let me withdraw 5,600,000 VND a few weeks ago. Has there been some change since then?

I haven't been to an ATM since then, but all the Citibank ATMs in HCMC let me withdraw 8,000,000 VND the last time I used one.

My home bank in USA is Wells Fargo. When I withdraw money here, usually at Citibank or HSBC, the ATM says there will be a charge in VND (I don't pay attention to the amount, but it's small). That charge is NOT deducted from the amount I get from the machine. All I get charged is a flat $5 USD by my home bank, and the exchange rate is only a few hundred dong less than the current bank exchange rate here. A pretty good deal as far as I'm concerned.

I have made withdrawals from other banks ATMs here at different time and also got the same deal. The only difference from one to another is the maximum amount that can be withdrawn. In my experience, Citibank is the highest allowed (8 million VND).

saigonmonkey is the HSBC ATM in that big building that says HSBC on it? I've been by the place quite a few times but never saw a ATM.

Budman1 wrote:

saigonmonkey is the HSBC ATM in that big building that says HSBC on it? I've been by the place quite a few times but never saw a ATM.

Yeah...go up the steps out front, through the glass doors, and it opens up into kind of a lobby area with 2 or 3 ATMs along the wall to your right. I went there at about 7pm one night and the doors were open (everything else was closed) with a security guard sitting in there next to the ATMs.

What would be really helpful if some of the members that are fluent in Vietnamese (Hint, Hint Wild_1) or anybody would call a few of the popular banks and ask what the current withdrawal limit is on a "International visa debit card". What is says on their websites doesn't seem to be correct.

HSBC  8 38 29 22 88

TECHCOM Bank 4 3944 6368

AGRI Bank 04.38687437

It sure would be nice......

Thanks

SaigonMonkey,

HSBC limits to 2 million vnd now. Just tried yesterday.

Guys I think were going to find out that all of the banks ATM's are limited to 2mil. Wonder why they dropped it down?? Well at least VCB can say they have been consistent, they've been at 2mil since mid 1995........


Parmyd Thanks for the update, that'll save the climb up the steps at HSBC.

Budman,
Just checked at a Citibank ATM near my house about 10 minutes ago. The limit there is now 3,000,000. So at least many of us can get a little more there if necessary.

I have a suspicion the VN government is behind this. It's one way to deter VN tax evasion by ex-pats.

Anyone tried with the Commonwealth Bank yet? I heard the limit is 9 million VND is that right?. I have a Commonwealth bank card from Australia so plan on using it at the ATM's there.

I think that if anyone was behind it it would be the banks. Why settle for one 30000 vnd  fee for a 6million withdraw when you can get 90000 for 3 2 million withdraws.
I did look at my bank statement and when I go inside and get a cash advance on my bank debit card I am paying the following fees
On a 2000 usd withdraw I am paying 3% (60 usd ) to Vietcombank
.73 cents mastercard international fee
Total 60.73 usd

To take the same amount from ATM
approx 40,000,000vnd
20 transactions at 2,000,000 each
20 X 30,000 atm fee = 600,000 vnd or about 29 usd
20 X .73 mastercard inter. Fee = 16 usd
20 X 2 usd bank fee for using non bank atm = 40
Total for using ATM about 85 usd

So I save about 25 usd by going inside to the credit card desk and getting cash advance and also save a lot of time

thaoh here's the link that shows locations in Saigon,. It appears in other parts of the country their interconnected with DongA Bank ATM's. When was the last time you heard about the 9mil limit? Has it been since Tet?

http://www.commbank.com.vn/atms-location.html

VungTauDon haven't been able to try that at the VCB here in Can Tho yet. My dang passports still up in Saigon getting the 3 month stamp. It appears though at this point that's the best way of doing it. Thanks for the info.

Rick

Hey Budman1,

I sent an email to The Commonwealth Bank in Vietnam and got a reply saying it's a 9mil limit, but that was last year. Not sure if it's changed now...

thaoh tried it today and they only wanted  to give up 2mil at a pop. Techcom ATM's now say on the error msg that the limit is 2mil. Agri gave me a whooping 3mil today, x 4=12mil plus $20 to my USA bank and 80,000VND to Agri.

Budman1 do you have a Commonwealth Bank of Australia card and used their ATM? I just emailed their bank branch in Vietnam and the reply says the limit is still 9mil VND. But I guess I won't know for sure until I try it myself. I sure hope it's more than 2mil VND haha.

Budman1,

Have you tried Vietcombank counter yet? If you are using a US Direct Express Card for SS and Federal pensions be aware that if they charge your card in VND you will pay 3% to both banks. I know VungTauDon still gets Vietcombank to charge in USD in Vung Tau but they will not do that in Bien Hoa.

I talked to my Sister in-law in Vegas last night and she said the Vietnamese money transfer places are only charging 1% for any amount of $1000 USD. You get your money same day or in the case of Can Tho next day and in USD. That appears the way to go for me starting next month.

Parmyd no I haven't tried it yet, my passport is in Saigon getting the 3 month stamp and VCB wouldn't accept my photo copy of it. I'll have it back next week and give it a try. Yes the money transfer would be the way to go except there would be a problem getting it from my US account to them in order to effect the transfer.

thaoh no, I tried to use my US bank debit card and it was at a DongA ATM here in Can tho. According to the website DongA is suppose to be connected with Commonwealth Bank of Australia. VTD way looks like it's going to be the best for me.

Budman1,

I can see where that would be a slight problem.

Citibank US has two types of accounts, standard and gold.

If you have a gold account, there are no fees at all when you withdraw from Citibank ATM anywhere in the world.

If you have a standard account you will be hit with a 3% foreign transaction fee every time.

I can withdraw 8 million VND at a time, up to 8 times a day from any Citibank ATM in HCMC.  I have a Citibank gold account though, I don't know what the limit is on a standard one.

Hope that helps.

Something for the Aussies...

28 Degrees MasterCard is an Australian credit card that offers no annual fee, no currency conversion fees and no international transaction fees.

I was also told by NAB, that they had a "gold" visa debit card that doesn't charge international transaction fees but that was a while ago.

Nowadays I use a money transfering service to get my money while in Vn, I can do it all online then email the recipients details to them. Usually receive it in same day.

iflyhigh wrote:

Citibank US has two types of accounts, standard and gold.

If you have a gold account, there are no fees at all when you withdraw from Citibank ATM anywhere in the world.

If you have a standard account you will be hit with a 3% foreign transaction fee every time.

I can withdraw 8 million VND at a time, up to 8 times a day from any Citibank ATM in HCMC.  I have a Citibank gold account though, I don't know what the limit is on a standard one.

Hope that helps.

Hi...... what about a CitiBank  office where you can go inside and talk to a bank teller?  I don't like ATM machines.  I also have GOLD CitiBank account in the US and was told that I can also open one in VN so I can move my money FREE of charge between the US and VN.  It's called Global Transfer.  I am looking for the address and phone number for a CitiBank in HCMC (if possible).  Please help.  THANKS.  Tien T

OMG, haven't you heard of Google?  You don't need to post your question at all, let alone three times in three different threads:

https://www.google.com/maps/search/citi … 050914,15z

Google clearly shows branch locations versus ATMs.

If you open an account at VietIn or VietCom bank and have a WellsFargo account in the US, you can send up to $3,000USD/day for only $9. That's 0.3% charge, plus possibly a small hit on the buy/sell FOREX spread. That is the cheapest way I have found to send money. It will get sent in USD, and you can either take it out as cash or transfer it directly to a VN bank account.

jakejas wrote:

If you open an account at VietIn or VietCom bank and have a WellsFargo account in the US, you can send up to $3,000USD/day for only $9. That's 0.3% charge, plus possibly a small hit on the buy/sell FOREX spread. That is the cheapest way I have found to send money. It will get sent in USD, and you can either take it out as cash or transfer it directly to a VN bank account.

Thank you.  That is useful information.

Sorry to re-open an old post, but I have some additional information directly from Citibank. It seems that the best way to do this is to open an "inAccount" with Citibank Singapore. This is their global account, and you can keep your money safe and sound in Singapore, while using any Citibank ATM in the world to withdraw it for free. They are also giving free global transfers between Citibank accounts in different countries until the end of the year for inAccount customers. Their normal charge for transferring money between Citibank accounts in different countries is US$10. An account balance of US$20K is required to avoid fees.

Unfortunately, American customers will not have access to some of the trading features of the account because the US government does not like it when Americans take their money internationally so they give foreign banks with American account holders a hard time (FATCA). In this case, Citibank decided it is easier just to restrict some of the trading capabilities of this account instead of dealing with the imperialistic banking practices of the US. Not that it bothers me or anything like that... 

MONEY ACCESS THRO' ATMs seems to be a hit and miss pursuit.

HSBC changes ALL currencies en roiute to VietNam, through it's money laundry outfit in the States. This means that ANY currency other than the US Dollar will attract exchange charges.

These EXCHANGE CHARGES discount the amount of money you can withdraw - in other words these HSBC charges are included in calculating whether you have exceeded your daily withdrawal limit.

WITHDRAWAL LIMITS are determined by two factors with HSBC, and other banks, (1) Your home bank limit; (2) VietNam bank rules. In that order. I bank in several different countries, for business, and it is possible to beat the limitations by withdrawing against different accounts, either in one, or more, countries.

My employer uses AGRIBANK since they have employer/employee plans that are great help to employees at ether low, or free of, cost. Some banks are charging for paying into an account held at a branch other than the one used for deposit (VietInBank), others do not.

My personal VN accounts are overdraft guaranteed by 'correspondent' (agent) banks in other countries to avoid hitting the financial buffers. VN banks pay negative interest  (compared to inflation rates).

Following the latest tax grab by the US Congress, FATCA, it might be beneficial to switch to a small bank that hasn't signed up to FATCA (they usually have 'correspondent' banks in the USA, as these banks will not report US citizen banking habits.

When you want to transfer money from a non-FATCA subscribing bank to a FATWA-subscribing bank do a 'cash' run, don't electronically transfer money as this will be reported to the IRS.

TIME OF DAY, or when does a 'new' day start for withdrawal purposes is on most cases determined by the home bank. This is handy for people doing large withdrawals exceeding daily bank limits.

My own experience withdrawing, just to tell, with an english bank debit card visa (not Hsbc)
in last may i could withdrawing til 5,6 M one shot, (many times) at Hsbc ATM, in HCMC
last week, at the same Atm only 3,4 M ...But i could withdzawing only 3 M...

Yesterday with my same card, i went to Citybank, i withdrawed 8 M one shot.....

This is the information I got off of Citibank website:

Citibank, N.A., Vietnam,
Ho Chi Minh City Branch

Sun Wah Tower,
115 Nguyen Hue Boulevard, District 1,
Ho Chi Minh City, Vietnam.

Operating Hours: 8:30 AM - 8:00 PM

Telephone: (84 8) 3824 2118

CitiPhone: (84 8) 3521 1111

I hope that this information will help you.  Also, there are many negative people in this forum and they simply DO NOT want to help.  They are quick to point out the obvious such as using "Google" search engine.   The point of a forum is to help each other without being negative or insulting each other.

-Tin Tin

So you know how to help?
"help each other"
That's right, not one way. All bridges were made for come and go    ; not one way!
Many newbies thinks that  old members have an obligation (or duty?) to answer all questions. All of them are busy with their businesses. If they try to find some time for this blog to help, just think it as an award!
Before ask silly questions, just search in the internet is the best option for quick remedy. There is nothing wrong with that.

tintinmiami2013 wrote:

I hope that this information will help you.  Also, there are many negative people in this forum and they simply DO NOT want to help.  They are quick to point out the obvious such as using Google search engine.   The point of a forum is to help each other without being negative or insulting each other.
-Tin Tin