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MONEY TRANSFER

Introduction

Vietcombank undertakes all the incoming and outgoing requirements of the customers domestically and internationally.

Through the correspondent network all over the world combining with Operation Center network and branches covering all large cities and provinces with the best quality of International Swift payment in Vietnam, Vietcombank can handle remittance order update, accurately, safely with the simple procedure and the most attractive charge.

Inward money transfer

1. From overseas:

Introduction:

+ All organizations can receive incoming from overseas with no limit in volume and times.

+ Before 15h 30’ on the day of incoming from oversea, at VCB’s branch serving the beneficiary will pay by transferring money into his account or inform according to beneficiary’s address or telephone number immediately on the same day.

+ Money receipt procedure is simple and clear guideline, detail in the bank announcement to ensure the advantages and safety both for bank and customers.

+ Vietcombank pay the received remittance order through some modes:

- Swift or Telex sending from foreign bank;

- Remittance letter sending from foreign bank;

- Cheque/Bank Draft sending from foreign bank or customer showing at the counter:

. Cheque/Bank Draft showing at Vietcombank must be origin, they are not erased, amended or torn.

. Basing on the content and the concrete instruction on the cheque/Bank Draft, Vietcombank can pay for the beneficiary according to remittance service or clean collection by sending collection through correspondent banks.

However, the mode of incoming through letter and cheque/Bank Draft need a certain time for Vietcombank to confirm the honesty of the remittance order.

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The guideline part

To receive money rapidly and ensure the accuracy, please provide the following information for the money transferee.

- Beneficiary Name

- Beneficiary Account Number

. If you have account at Vietcombank and want to receive money through that account

. In case you don’t have account at Vietcombank, you will provide your ID Card Number or your Passport Number, issue date, address, phone number, if any, to let Vietcombank get clue to inform you when receiving incoming.

- Beneficiary Bank:

+ Bank name: Bank for Foreign Trade of Vietnam

+ Bank Swift code: BFTVVNVX

+ Bank address:

. If you receive money in Hanoi then the bank address is: 198 Tran Quang Khai, Hanoi, Vietnam.

. If you have account or want to receive money at branches of Vietcombank in other provinces, in this item, you provide name, signs and address of Vietcombank branch that you need. (Addresses of Vietcombank’s branches)

2- Domestic incoming:

Received payment order by the bank before 15h 30’, at Vietcombank’s branch serving the beneficiary can pay immediately by crediting in your account or informing according to beneficiary ‘s address or telephone number immediately on the same day.

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Outgoing Part

1. Overseas:

Introducing:

With the available advantages of Vietcombank, customers having balances in their account can require us to transfer money to anyone, almost anywhere all over the world with the highest effectiveness.

Instruction

The contents that customers need pay attention to order the bank to transfer money abroad:

1.1.Remittance order (subject to model)

1.2.Other necessary documents relating to requirement

In order to ensure the important detail of the remittance order fully issued by the customer, Vietcombank formed the standard model for the customer filling in: “Application for remittance “

The content of the form numbered complied with the international regulation to help the bank to transfer the data fast and accurately through Swift.

1.3.Choosing Remittance Method

You can choose one of four remittance methods hereafter:

- Remittance by Swift: this is the fastest and cheapest method. Provided that banks at all sides must take part in the Swift system.

- Remittance by Telex: This method is used only when banks do not participate in Swift.

- Remittance by Bank Draft: This method provides customers with conditions to take the initiative in time and payment show., the cost is low but the customers must self-protect and show at the counter of the negotiating bank.

- Remittance by letter: This method costs low but slow because of remittance time.

When operating at Vietcombank, you will be consulted to choose the best remittance method complied with your needs.

1.4.Effective date:

As usual, this is the day when the bank debits your account, not the day sending remittance order abroad or paying day for the beneficiary.

In Vietcombank, with the motto for service quality and to ensure the customer interest, with the present technology capacity, Vietcombank establishes the technique procedure to handle transaction to restrict the unnecessary objective delay at the lowest level, to perform payment order on the same day as required.

1.5.Applicant information:

- You need record your name, full address and telephone number for the bank contacting if necessary.

- Account number: You should record your account number requiring the bank setting aside money to avoid taking mistake in case you have too many accounts at the bank.

1.6.Information on Beneficiary and Beneficiary Bank: These information must accurately and completely to avoid risk for you. Each country, each bank has his own concrete regulation on restructuring the customer account number opening at his bank, therefore they must be recorded accurately to help the bank handle fast by computer.

1.7.Remittance charges: You can choose one of three ways of charge payment:

- Total charges born by the Ben

- Total charges born by Ourselves

- Charges of the transfer bank born by Our, charges of the beneficiary bank born by Ben.

1.8.Details: the most basic information should be briefed to help the Ben to define what the payment reasons are.

1.9.Other instructions: The money transferee can instruct the Ben Bank to do some personal requirements, such as:

- Paying the Ben by cheque

- Informing the Ben by phone enclosed with telephone number.

- The Ben will self-contact with the bank to receive money enclosed with ID Card number.

Note: Oversea remittance done subject to the forex management regulation of Vietnam.

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2- Domestic outgoing:

Vietcombank transfers money to all provinces in the whole country based on the Remittance order (form provided by Vietcombank to customer when doing transaction).

With the modern information system, locating internet in all branches of Vietcombank, we can support our customers having accounts in Vietcombank system transfer money freely.

Address to contact

-Transaction Accounting Department – Operation Center Vietcombank Head Office

198 Tran Quang Khai, Hoan Kiem, Hanoi

Tel: 8248281 - 9349828

-Forex Department – Operation Center Vietcombank Head Office

198 Tran Quang Khai, Hoan Kiem, Hanoi

Tel: 8268045; 9343137 (Ex: 0251 - 0243 - 0237 - 0238)

or at Branches of Vietcombank

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