The interface of the F@st Mobile appication, which allows Techcombank's customers to transfer money via social networks Facebook and Google+. — Photo techcombank.com.vn

HA NOI (Biz Hub) — The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) on November 17 launched F@st Mobile, its money transfer system that works via social networks Facebook and Google+.

It's the first Vietnamese bank to provide the service to customers.

The service is offered on mobile devices with the iOS operating system version 6.1 or its updates, and with Android 4.1 or its updates. In order to use the service, customers need to register at Techcombank's transaction offices and download the free F@st Mobile application from Apple Store or Google Play.

After logging into the F@st Mobile app, customers should select "Social Networks" to transfer money to receivers on the networks or mobile contacts, and type in the amount. The Techcombank system will send a report to the receivers via the social networks or an SMS. The receivers can collect the money at the bank's transaction offices or withdraw it from ATMs with codes sent to their mobile phones.

Customers can also transfer and withdraw money from ATMs without a bank card. When a customer chooses to withdraw money from an ATM on the application, the system will send him a verification code. At the ATM, he will type the code and the amount needed to be transferred. The system will automatically send the second verification code to the receiver's mobile phone. After typing in the code, the receiver can withdraw the money from the ATM.

The application also offers other facilities such as viewing of the account balance and the transaction history. — VNS