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What is the meaning of the email you received ?

This email is intended to notify our clients that Timo will change to a new banking partner in the near future. Official date of change is 08/09/2020. Bringing a new experience, a stable system and diversify our products and services to our clients.

What will happen to my money in my account?

Your accounts and all other bank products and services are powered by VPBank and therefore, VPBank will be responsible for the security of your current account, term deposit, overdraft, credit card and you can use VPBankOnline to manage your money.

How will your term deposit accounts be redeemed if the redeem date is after the transition?

Your term deposits are managed by VPBank and VPBank is responsible to pay your interest and therefore you continue to get the best financial benefits until your term deposit due date.

How will the credit card/installments/Fast Cash be processed?

You continue to use these products provided by VPBank on VPBankOnline apps. To close your FastCash, you can go to any VPBank branch.

Could the Timo Debit Card, Timo Mastercard, Timo Application and Timo website be used?

All Timo Debit Card, Timo Credit Card are to be served and can continue with VPBank on VPBankOnline. Timo application and and web app will be disconnected from VPBank after 08/09/2020. Customers can simply download VPBank Online, register Username/password on this app then continue to use VPBank services.

I am also a customer of Viet Capital Bank, so when I open a new account at Timo, is there a binding policy like when VPBank used to be Timo’s partner?

Viet Capital Bank and VPBank are different partners. Thus, in relation to the policies with Viet Capital Bank, Timo will share updates with you soon, so please look for our detailed instructions in the upcoming emails.

So which fee will be charged for my Timo account? I have no wish for using this account, thus may I come to VPBank to close it?

VPBank provide and maintain consistent pricing policies for Timo customers. Based on the TnC signed between customers and VPBank, customer needs are served, where customers can choose to continue or close services with VPBank by visiting any VPBank branch.

Why does Timo not keep Timo’s existing customers?

Putting customers first is our focus. There is no reason that a customer is not served and continues to be served. Its the customer’s decision to leave or stay with VPBank or to move to Timo Plus. In case you do not want to use a VPBank account anymore, please wait for Timo’s upcoming emails with specific instructions on the switch.

Will the regulation of receiving money from overseas be following Timo’s regulations or VPBank’s regulations? When will it be applied?

All existing policies applied for receiving money from overseas are compliant and following VPBank regulations. There is no regulation change.

When my account changes into VPBank’s account, may I use VPBank internet banking to link e-wallets?

You always are a VPBank customer, and you can download and use VPbankOnline to manage your finances, make transactions and link to e-wallets. You can use the following link to activate your VPBankOnline or download the apps VPBankOnline then click to Register https://online.vpbank.com.vn/cb/pages/jsp-ns/self1.jsp#

When is the transition date? How may days before the transition date Timo will make it public?

Timo will share updates with you soon, so please wait for our detailed instructions in the upcoming emails.

May I continue to use new Timo’s product (Timo’s customers/VPBank’s customers) after Timo is changing into a new partner? Is there any limitation or a binding policy?

Customers are served based on their requests, and once Timo is disconnected from VPBank, the Timo app will not be accessible, but products powered by VPBank will continue.

I am also a customer of Viet Capital Bank, so when I open a new account at Timo, is there a binding policy like when VPBank used to be Timo’s partner?

Viet Capital Bank and VPBank are different partners. Thus, in relation to the policies with Viet Capital Bank, Timo will share updates with you soon, so please look for our detailed instructions in the upcoming emails.

When changing partner, will Timo get services fee waiver as Timo used to be at VPBank?

If you would like to use Timo’s new products, please wait for Timo’s latest email with specific instructions. Timo also will inform customers after 08.09.2020 about our new locations / hangout structure at the earliest.

Timo does change partners, are there still hangouts in the same 4 provinces or do they be reduced or expanded in other provinces?

If you would like to use Timo’s new products, please wait for Timo’s next emails for specific instructions. Timo also will inform customers after 08/09/2020 about our hangout locations at the earliest.

I am using Timo account and Timo Mastercard, except for the annual fee of Mastercard, there are no other fees when using it. Transferred to VPBank, there will be additional fees, currently I still have Mastercard outstanding balance and could not pay it immediately, I do not agree with those fee, which plan Timo have to support customers?

VPBank will maintain same policies for Timo customers. in case customers are unhappy, VPBank is open to discuss for the best service quality.

After completing the transition process, which bank will manage my Timo account? Do I need to come to VPBank to open this account to continue using the Timo account? Do I still get account related service charge waiver like Timo?

Your accounts, term deposit, credit card and overdraft are served and managed by VPBank. You can continue to use your existing account number and all other products and services with VPBank, you do not have to change anything or visit a branch. VPBank continues to apply the same policy for customers.

When will Timo complete the transition and when the transition completes, will my Timo account retain the old information or do I have to go to VPBank to update information such as account number, physical card …?

You do not have to do anything because you are served with VPBank policies in all your products and services. This means that you just download VPBankOnline and activate it, then all your assets will be shown and managed on this app by you.

Can I automatically switch my account information to the new partner bank because I do not want to use VPBank account any longer?

It’s customer’s decision to leave or stay with VPBank. In case you do not want to use a VPBank account anymore, please wait for Timo’s next emails for specific instructions on the switch to the new partner In case you are using VPBank overdraft and/or credit card, you should repay and close your service legally properly.

Why does Timo not consult with customers in advance about changing partners? The Customer does not agree to continue to use Timo’s account and close it. I am using Timo’s account but now Timo arbitrarily authorize my account to VPBank’s management irresponsibly.

In all TnC published and signed with customers, it says clearly that VPBank is the bank who legally provides and manages Timo services. VPBank will responsibly and continuously serve customers with their VPbankOnline and all other VPbank’s sales service networks like ATM, CDM…

I used Timo occassionally. If Timo changes to a new partner and authorize my account to VPBank’s management, I will set the account aside, no longer use and do not come to VPBank to close it, or will my account occurs a maintenance fee and I have come to VPBank branch to close it?

Your accounts are always powered by VPBank, and you should continue to use it especially your account number, credit card number… VPBank is open and serves all your requests. In case you want to close, you should ask VPBank for all your obligations and rights to make sure that you are happy and compliant to leave the bank.

I am a foreigner, I have returned to my homeland and not returning to Vietnam, but I have not closed my Timo account. Previously, when I asked about this issue, Timo answered that my account will not incur any charges, so it is not necessary to close it. However, will my account is authorized to VPBank’s management now which is charged for maintenance and what do I need to do to close my account?

Legally speaking to close your account you need to visit a VPBank Branch to do this in person. In addition, all your rights and obligations versus VPBank are to be legally processed especially when you are using overdraft and/or credit cards to be repaid.

Is there any way to close my Timo account without going to the VPBank Branch or if I transfer all my money, will my account be closed automatically?

Legally speaking to close your account you need to visit a VPBank Branch to do this in person. In addition, all your rights and obligations versus VPBank are to be legally processed especially when you are using overdraft and/or credit cards to be repaid.

If I close Timo and do not use Timo Plus, will my personal information be used for any purpose?

All your financial and personal data are protected and secured.

Does Viet Capitak Bank have any CDM?

At this time, Viet Capital Bank doesn’t have any CDM yet.

Do I need to create a new account at Viet Capital Bank while using Timo account?

At this time, you can continue using Timo account and Timo app as usual. You do not need to take any action or open Viet Capital Bank account.

As far as I know, Viet Capital Bank has very few branches, are the processes and procedures related to account necessary to go directly to the branch, are there any policies to support remote customers?

Timo will inform you of opening accounts policies for customers in the future.

Can Timo assure that after cooperating with a new partner, the system will be more stable than before?

We always desire to have a smooth banking system. Timo Plus sometimes might encounter with technical problems or maintenance, however we will cooperate with Viet Capital Bank to resolve the issues to ensure customer’s banking experience.

Is the Timo’s model still a digital or a traditional bank? Can new Timo accounts be linked to e-wallets requiring e-Banking?

The banking product powered by Viet Capital Bank is Timo Plus digital bank. We are working on linking with E-wallets to bring customer with the most convenience and will update soon.

Has Timo currently developed a project with a new partner? I want to open an account to experience it, what should I do?

We are currently working with partners to carry out this project and we will inform you updates as soon as possible

Find out more about Timo’s change of banking partner here.