Hana Bank Launches Vietnam Direct Overseas Remittance Service

Providing Real-Time Vietnam Overseas Remittance Service via HanaEZ App Specialized for Untact

[Asia Economy Reporter Kim Hyo-jin] Hana Bank announced on the 23rd that it will launch a Vietnam direct overseas remittance service that enables real-time overseas remittance, marking the first anniversary of its equity investment in Vietnam's largest state-owned commercial bank, Bank for Investment and Development of Vietnam (BIDV).

The direct overseas remittance service provided through Hana Bank's overseas remittance specialized application (app) ‘HanaEZ’ allows verification of the recipient and account validity before remittance just like domestic transfers, and also enables real-time tracking of the transfer status after remittance, preventing erroneous remittances.

In particular, the direct overseas remittance service aligns with the trend of non-face-to-face transactions being essential in this era, allowing users to easily register and remit by designating the foreign exchange bank for the transaction, a mandatory condition for overseas remittance, through the ‘HanaEZ’ app without visiting the bank.

Currently, the remittance service operates by depositing into Vietnam Dong (VND) currency accounts, but a service will be added to allow recipients to receive local currency at BIDV branches in Vietnam even without a recipient account.

To commemorate the launch of this real-time Vietnam overseas remittance service, Hana Bank will reduce the direct overseas remittance fee from 5,000 KRW to 3,000 KRW and offer a 50% preferential exchange rate until the end of May next year.

A Hana Bank official said, “We are planning various measures to enhance the convenience of customers using overseas remittance services in the untact era,” and added, “We will continue to expand various financial services befitting the status of a foreign exchange specialized bank.”

Meanwhile, the real-time direct overseas remittance service is gradually expanding partner countries from Sri Lanka and Nepal to Vietnam, and plans to provide convenient financial services through partnerships with major overseas banks in the future.

This content was produced with the assistance of AI translation services.