Sacombank has rolled out the SWIFT Go overseas money transfer service for individual and corporate customers with quick procedures and low fees.

It enables transfers of US dollars of up to US$10,000 to pay overseas suppliers and for overseas studies and medical treatment and others as permitted by regulations.

Overseas beneficiaries can receive the money at Sacombank’s associated banks within four hours of transfer.

SWIFT Go is a service provided by the Association for Worldwide Interbank Financial Telecommunication, or SWIFT as it is commonly known, that enables banks to look up and update payment processing information in real time.

It has created a new standard in international payments with outstanding features such as time and cost savings and faster processing speed.

The processing fee is clearly announced at the time of transaction order and collected one time from the sender to ensure the recipient receives the entire transferred amount without incurring any intermediary fees.

Sacombank has also launched other online international payment services such as eFT and eLC with many attractive incentives to meet the needs of import-export enterprises and enhance the customer experience.

In October 2021, for the first time in Viet Nam, Sacombank and Visa International deployed an instant money transfer service through Sacombank Visa debit cards to any Visa card issued by banks in 44 countries and territories for up to $8,000 a month depending on purpose (without a limit on the number of transfers) and preferential transfer fees starting at a mere VND100,000.

It is meant to meet the needs of individuals seeking to transfer money abroad for purposes such as education, settlement, medical treatment, family allowances, and others.

With modern technology and an extensive associated network, Sacombank meets customers’ diverse needs for money transfers, including domestically, inward and outward.

The bank is offering a promotion for customers receiving money from abroad through their Visa debit cards from now until September 30.

Those getting a minimum of VND250,000 will get VND110,000, but is entitled to it only once during the programme.

Besides getting their remittances paid at home, at the bank, via bank accounts, or through an ATM, customers can receive also get their money through MoneyGram/Remitly/Xoom/ABA Ltd on Sacombank Visa debit cards easily, quickly and free of charge.

Once the remitter fills in the recipient's information and Sacombank Visa debit card number, the latter will get the money in their card account without any further verification at a competitive exchange rate. — VNS