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SENDING MONEY

What is “VIB Remittance”?

VIB Remittance is VIB Bank’s special featured international remittance service for personal customers. To satisfy customers’ needs on monetary remittance, the convenient, fast, economical, and accurate remittance service is offered on the basis of VIB Bank’s worldwide network of correspondent banks and money transfer companies and nationwide network of branches, transaction offices and paying agents covering most major parts of the country. Using VIB Remittance to remit money, you can fully enjoy the convenience based on VIB Bank’s state-of-the-art financial products as well as the touch of money going everywhere with no hindrance. VIB Remittance focuses especially on permanent overseas Vietnamese residents and overseas Vietnamese workers.

Who can use VIB Remittance?

Any person who wishes to send a remittance to an individual in Vietnam can use VIB Remittance.

Why should I trust VIB Remittance?

VIB Remittance is brought to you by Vietnam International Bank, one of Vietnam’s leading commercial joint stock banks, and its partners of the biggest and most prestigious banks and money transfer companies around the world.

Why is VIB Remittance safe?

All transactions are on the global SWIFT network and fully secure encrypted lines and connections between VIB Bank and its money transfer partners and the branches. Moreover, your data is stored on our machines, which are behind state-of-the-art firewalls and have gone through extensive security tests.

Which currencies can I remit?

Remittances can be sent in USD, EUR, AUD, SGD, GBP, CAD and JPY.

What do I have to do in order to remit money to Vietnam?

You can easily remit money from anywhere abroad just by going to the nearest bank or remittance agent of our correspondent money transmitters, providing the banker/agent with the necessary information as in our remittance instructions and that of the agent, and paying the bank/agent for the money to remit plus the service fee. Please enter here for more detailed instructions.

What kinds of remittance service can I use to send money to Vietnam through VIB Bank?

We offer three kinds of remittance service: Cash Pick-Up, Account Deposit and Home Delivery. For Cash Pick-Up, fund receivers can get the money at any branch or transaction office of VIB Bank. For Account Deposit, fund receivers can get the money at any bank in Vietnam. Home Delivery sends money to beneficiaries’ doors in Hanoi, Ho Chi Minh, Hai Phong, Quang Ninh, Da Nang, Nha Trang, Binh Duong, Dong Nai, etc.

How long will it take for the beneficiary to receive the money?

It takes from 10 minutes to 3 working days for the funds to be available to the beneficiary. The actual time also depends on the location to where the funds are being sent and on the type of service, Cash Pick-Up, Account Deposit or Home Delivery.

Does my beneficiary need to have a bank account with VIB Bank?

No. The beneficiary can receive the fund without having an account with VIB Bank.

How can I obtain the daily exchange rate?

VIB Bank offers very excellent exchange rates. Please visit www.vib.com.vn or call us at (84-4) 942 6919 for information on our exchange rates.

Can I have more than one beneficiary?

No. Only one beneficiary per payment order is allowed. For each additional beneficiary you will need to open a separate deposit account or make another payment order at send agents of the money transfer companies.

How can I pay money to the foreign bank or the send agent for remittances to VIB Bank?

There are several ways in which you can pay for remittances: cash, debit or credit card, wire transfer, account debit, etc.

What is the maximum amount I can remit?

Different countries have different limits of remittances. The maximum amount that you can send depends on the banking regulations of the country/state in which you reside and of the sending bank itself. However, there is no limit on the amount that the beneficiary can receive at VIB Bank.

Is there a minimum amount I can remit?

No. There is no minimum amount for remittances. However, there is a minimum fee for every remittance.

Is the fund sent through VIB Remittance taxable for my beneficiary?

No. This money is income earned by you overseas, and you have already paid taxes for it in the country where you are living and working. Your beneficiary does not have to pay any tax on this money again once it is remitted to Vietnam.

How can I check the status of my remittances?

Please contact our Remittance Center for the status of your remittances.

RECEIVING MONEY

What do I have to do to receive funds transferred from abroad through Bank-to-Bank VIB Remittance?

If you want the overseas sender to remit the funds into your VIB Bank account, you shall open a deposit account in foreign currency at any of our branches or transaction offices and then inform the remitter of the account number, account holder name, full name of our bank and our bank’s SWIFT code. More details please click here.

What do I have to do when going to VIB Bank to receive money sent from abroad through Bank-to-Bank VIB Remittance?

All you need to do is filling up the Withdrawal Slip and presenting the valid ID card or passport to the teller of the branch.

What are the valid identification documents?

Only national ID or passport is accepted for receiving money.

What is the inward remittance fee for receiving funds transferred from outside the country through Bank-to-Bank VIB Remittance?

Please see our bank’s fee table for details.

If I receive money transferred by agents of money transfer companies partnered with VIB Bank at your bank’s counters or via home delivery service, how much fee will I have to pay?

It’s our Company-to-Bank money transfer service. When using this service, you will receive the funds free of charge.

What currencies can I receive?

You can now receive your remittances in USD, EUR, AUD, SGD, GBP, CAD and VND.

What is the exchange rate applied on my funds?

The exchange rate will be based on VIB Bank’s daily prevailing rate at the time of converting your funds to Vietnamese Dong. Please visit our website at www.vib.com.vn to see the current day exchange rates or give us a call at 84-4-942 6919.

Why do I need a current account if I already have a checking or savings account?

If you would like to receive funds, then you will need a deposit account with VIB Bank. Checking and savings accounts do not have this remittance feature.

Is the current account a good place to save money?

No, the deposit account offers you a low interest rate. If saving money is your goal, then we recommend you open a saving account and then we will transfer the funds into your saving account free of charge.

How can I obtain customer service assistance with VIB Remittance?

For customer service inquiries please contact VIB Remittance Center.