Many Vietnamese banks have launched special services and remittance channels with attractive promotions in a bid to lure an influx of overseas remittance which is expected to grow by 20-30 per cent against last year.
Although only recently established, the Asia Commercial Bank (ACB)’s Customer Service Center has attracted many clients through its utility services. The bank has improved its remittance network and served overseas remitters seven days a week and even on holidays.
Meanwhile, together with high-quality services, the Eastern Asia Bank (EAB) is introducing the promotion program offering 60 outbound tours to receivers in Vietnam. Every year, the bank also presents gifts to money receivers on the Tet Lunar Holiday.
In the first 10 months, EAB reported total overseas remittance of US$637 million, rising by 10 per cent against last year. This figure is expected to reach US$765 million, up by 12 per cent against last year.
In a bid to promote overseas remittance payments, the Export and Import Commercial Bank (Eximbank) in the forthcoming time will set up an overseas remittance arm; cooperate with other businesses to establish overseas remittance agents; expand the market and seek partners from France, German, Canada and others.
Currently, Eximbank has relations with over 600 agent banks in 62 nations worldwide, is a member of the global payment system and has over 20 overseas remittance channels.
Eximbank recorded total overseas remittance of over US$350 million, expected to reach US$450 million by the end of this year.
Sacomrex under Sacombank is targeting expanded overseas remittance markets from other Asian countries, home to many Vietnamese people such as guest workers.
According to the central bank’s forex management department, overseas remittance last year was nearly US$4 billion.
VNS, Urban Economy
Vietnamese
