In 2021, World Bank reported that the total volume of Vietnam remittance reaches 18.1 billion USD and Vietnam is listed in the top biggest receiving remittance countries in the Asia Pacific. The purposes of using remittance sources are mainly family support and sometimes individual payment, business investment, labor export.
Vietnamese Government always encourages increased remittance contributing to improving the foreign exchange reserves of the country. Customers who want to receive money in foreign currency account for more than 50% volume of remittance to Vietnam. Sacombank-SBR (SBR) exploits Sacombank’s (mother bank) current branch network which is ranked in the top 4 banking networks in Vietnam to help customers easily receive money at any branches from Northern to Southern Vietnam. A beneficiary can receive money at any branch by one simple personal document which is an Identity Card.
Besides, under the support of Sacombank, SBR has always improved upon the technology used for remittance payout at not only Sacombank branches but also at other bank branches in Vietnam territory. The technology development in the world has jointly changed customer behavior in receiving money. Nowadays, beneficiaries are able to receive money at any place in Vietnam territory.
Especially, many industries have been severely affected by the pandemic COVID-19 and remittance is not an exception. Thanks to the wide network and connection with all transaction points of the VietNam Banking Network, SBR successfully assisted beneficiaries to choose suitable places for collecting money without determining a certain location to collect in advance.
The receiving currencies can vary in many foreign currencies and Vietnamese Dong with simple requirements about documents such as reference code or Identity Card.
Speaking of cash pickup service features, Chairman cum CEO of Sacombank-SBR particularly told that: “Sacombank-SBR’s process of operation and payment is established on a basis of high-quality technology, safety, and security. Customers can certainly receive money accurately and fast when using Sacombank-SBR service despite the only slight improvement of a pandemic in Vietnam”.
In the future, Sacombank-SBR plans to enhance the process of receiving transactions at all locations and simplify the procedure for collecting money as well as fasten the proceeding time of transactions so that customers can receive money at the earliest. It is considered as our commitment and gratitude to all customers for companion and trustworthiness to Sacombank-SBR throughout this time.
Press Release received on mail from SacomBank-SBR
