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Direct deposit into Vietnamese account

Vicnik2

My friends storey . February this year FBU Manila said fill out this form and send it to us and we will have your money direct deposited by the beginning of next month . Two months later no corespondents and no answers finally a reason . Too many digits in account number system can only handle 14 digits , at last we have a direction . Ok VIB out BIDV in , another form posted off with high expectations of money . Four months of attempted deposits and no accountability for why who what .
Finally an intelligent decision go set up another account with Citibank . Now six months no money .
Great Citibank is an US owned bank why didnt someone recommend that six months ago . Ok trip to HCMC set up new account get information to FBU Manila two months past no reasons no accountability no one to direct frustrations at . Finally it all boils down to this , US government can only send recipients name with an initial middle name and guess what the Citibank system wont accept that and cant change. Rock and a hard @&$# place . Weve had it ! Just a storey for others to take onboard if thinking it can only take a couple months , think again .

See also

Opening a bank account in VietnamSafe deposit boxes at banks?Joint Bank accounts: VN and 做厙輦⑹. Which bank?How is Cryptocurrency regulated in Vietnam?U.S. Dollar to Vietnam 繫ng Exchange Rate
Vicnik2

Oh and by the way US embassys advice and help , good luck , great service

Jlgarbutt

Could paypal or transferwise be a middle ground solution? I have used both from outside VN tk send money to VIB and Citibank with no issues, usually internatiknal transfers are more interested in accohnt name and SWiFT codes

Not sure about citibank, but most western bank brands here are actually just using thr name, HSBC has nothing to do with HSBC vietnam..

Ciambella

Jlgarbutt wrote:

Not sure about citibank, but most western bank brands here are actually just using thr name, HSBC has nothing to do with HSBC vietnam..


Citi VN and Citi US are not connected either, even though Citi US told us that they were.

danrodri

I know that most of you are interested in bringing money into VN rather than out. But for those who are interested in bringing it out, I did my homework and found out that a good alternative is having Standard Chartered Debit card and withdrawing the maximum amount out in foreign. Example relevant for me: withdrawing the maximum amount of 3000 MYR (aprox. $750) from a non Standard Chartered ATM in Malaysia would cost me 0.5% in fees plus 1.6% in exchange rate spread. So, a 2.1% which is absolutely ok for me. If one would withdraw in the US, you even save the exchange rate spread, leaving you at only 0.5% fees granted you are allowed to withraw in one transaction something around $750. Not bad

MikeTVN

danrodri wrote:

I know that most of you are interested in bringing money into VN rather than out. But for those who are interested in bringing it out, I did my homework and found out that a good alternative is having Standard Chartered Debit card and withdrawing the maximum amount out in foreign. Example relevant for me: withdrawing the maximum amount of 3000 MYR (aprox. $750) from a non Standard Chartered ATM in Malaysia would cost me 0.5% in fees plus 1.6% in exchange rate spread. So, a 2.1% which is absolutely ok for me. If one would withdraw in the US, you even save the exchange rate spread, leaving you at only 0.5% fees granted you are allowed to withraw in one transaction something around $750. Not bad


Do you mean a card from the bank SC.com (Standard Chartered bank)? Their website says their Visa Platinum cardholders can Cash withdrawal: VND100 mil/day. Not sure if I were in the US I could take this $4,300 out a day or not.

THIGV

Ciambella wrote:

Citi VN and Citi US are not connected either, even though Citi US told us that they were.


To say "not connected" may be a slight overstatement. I am Ivory Snow sure that Citi US does not own more than 49% of Citi VN but I also am fairly sure that they have some financial interest between 1% and 49% and beyond licensing the name, la Trump. I was told by a VN employee that In some other countries in Asia local Citi banks are direct subsidiaries of the US bank and US account holders can withdraw funds directly. VN account holders who also have US accounts must still use the transfer first method.

OceanBeach92107

danrodri wrote:

I know that most of you are interested in bringing money into VN rather than out...


I know most of you are interested in direct deposits (see the thread title) but I thought I would talk about Pig farming...

THIGV

OceanBeach92107 wrote:

I know most of you are interested in direct deposits (see the thread title) but I thought I would talk about Pig farming...


Go right ahead. :D:cool:

Vicnik2

Yeah will look at other options now Ive been promised money is forthcoming each week ! Just now trying to get Citibank to look at options. Like new account new name written with a middle name just abbreviated to single letter. Sooo difficult, everything has to be exact or its rejected and no one cares its up to me to find out why ? Been a hell ride

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OceanBeach92107

THIGV wrote:
OceanBeach92107 wrote:

I know most of you are interested in direct deposits (see the thread title) but I thought I would talk about Pig farming...


Go right ahead. :D:cool:


So now I know if I get too close to a pig it will make a direct deposit on me...