HO CHI MINH CITY, Vietnam & LONDON--(BUSINESS WIRE)--Leading digital money transfer service WorldRemit has partnered with Sacombank, one of Vietnam’s leading banks, to support the growing demand for instant remittances from the country’s three million-strong diaspora.
Using the WorldRemit service, Vietnamese people living and working overseas can now send money instantly to friends and family, with recipients able to pick up cash from 553 locations across the country.
The total value of remittances entering Vietnam in 2016 grew by $400 million to $13.4 billion according to the World Bank, a 264% increase in the past decade alone.
WorldRemit’s expansion in Vietnam follows a period of high growth across APAC, with the company expanding its presence in Asia significantly to include Singapore, Hong Kong, Japan and Malaysia.
Globally, WorldRemit customers send 700,000 transfers every month from 50 countries to over 140 destinations; the Asia Pacific region now accounts for almost 25% of all transactions sent.
Ismail Ahmed, Founder and CEO at WorldRemit said: “We are delighted to be expanding our service in Vietnam with Sacombank, one of the country’s most recognised institutions. Vietnam remains one of the top ten global receive markets for remittances, and WorldRemit is committed to providing a secure, fast and lower cost transfer method for the Vietnamese diaspora to send money to loved ones at home.”
To find out more on how to send money to Vietnam using WorldRemit, click here.
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About WorldRemit
WorldRemit is changing the way people send money.
- It’s easy – just open the app or visit the website – no more agents.
- Transfers to most countries are instant – send money like an instant message.
- More ways to receive (mobile money, bank transfer, cash pickup, and mobile airtime top-up).
- Available in over 50 countries and 140+ destinations.
- Backed by Accel Partners and TCV – investors in Facebook, Spotify, Netflix and Slack.
WorldRemit’s global headquarters are in London, UK with regional offices in the United States, Canada, South Africa, Singapore, the Philippines, Japan, Australia and New Zealand.
About Sacombank
Benefits
- Receive money at the counter within only 2 minutes after the sender completes remittance procedures
- Available at all of Sacombank’s transaction offices nationwide
Features
- Free of charge for the beneficiaries
- Receive money in USD, AUD, CAD or VND
- No need to declare the money origin nor open an account
- Conditions and documents very simple
To receive money, please bring and complete the following documents to Sacombank:
- Personal ID/Passport
