Agribank is now the NAPAS’ fourth member bank – the others are Vietinbank, ABBank and GPBank – that can provide fast money transfers from South Korea to Viet Nam via the switching system between NAPAS and KFTC. — Photo Agribank

Now, customers of Agribank can also enjoy fast money transfer services from South Korea to Viet Nam.

The services have been successfully implemented by the National Payment Corporation of Viet Nam (NAPAS) and South Korea Financial Telecommunications and Clearings Institute (KFTC).

Customers who have Vietnamese dong accounts in Agribank can receive deposits transferred from 10 South Korean banks that are KFTC members, including KBKookmin, KEBHana, Woori, NongHyup, Deagu, Busan, Kyoungnam, Jeonbuk, Gwangju and Jeru.

Agribank is now the NAPAS’ fourth member bank – the others are Vietinbank, ABBank and GPBank – that can provide fast money transfers from South Korea to Việt Nam via the switching system between NAPAS and KFTC.

Customers based in South Korea can visit any of the transaction counters of the 10 KFTC member banks to transfer money to recipients in Viet Nam who have Dong accounts in Agribank, Vietinbank, ABBank and GPBank. The recipient will receive the money as soon as the sender completes the transaction.

A direct international money transfer service, its fees are reasonable, and the service is secured and supported by the Korean government. Customers can save up to 28,000 Won (US$25) compared to other forms of direct international money transfers.

The transfer limit for international money transfers is $2,000 per transaction for beneficiaries of Agribank, and $5,000 per transaction for Vietinbank, ABBank and GPBank beneficiaries. – VNS