The Asia Commercial Bank has launched the Visa Electron card, becoming the first bank in the country to issue the debit card.
ACB general director Pham Van Thiet said, "ACB customers can use the debit card to make purchase or withdraw cash at thousands of automated teller machines (ATMs) at home and abroad."
ACB now is now agent for international card institutions Visa Card and MasterCard to issue and acquire credit cards of these kinds in Vietnam. Unlike Visa and Master credit cards, Visa Electron does not require holders to have collateral.
Cardholders can use the plastic to withdraw cash in dong at many ATMs in Vietnam, said deputy general director Le Vu Ky.
"Visa Electron is usable for cash at most ATMs of the Bank for Foreign Trade of Vietnam (Vietcombank), Australia and New Zealand Banking Group Ltd. (ANZ) and Hong Kong and Shanghai Banking Corp. in Vietnam (HSBC)," Ky said.
Visa Electron also allows holders to withdraw cash in foreign currencies when they are abroad, Ky added.
