We would like to inform you of the working hours of our Timo Hangouts nationwide on Hung Kings’ Commemoration Day (21/04) and Reunification & International Labor days 2021 (30/04 & 01/05) as below:

Closing timeClosing dateRe-opening timeRe-opening date
HUNG KINGS’ COMMEMORATION DAY
Hanoi & HCMC (Pasteur) 20.00 pm 20/04/2021 8.00 am 22/04/2021
HCMC (Capri District 7) 19.00 pm 20/04/2021 9.00 am 22/04/2021
Da Nang & Can Tho 17.30 pm 20/04/2021 8.30 am 22/04/2021
REUNIFICATION & INTERNATIONAL LABOR DAYS
Hanoi & HCMC (Pasteur) 20.00 pm 29/04/2021 8.00 am 03/05/2021
HCMC  (Capri District 7) 19.00 pm 29/04/2021 9.00 am 03/05/2021
Da Nang 17.30 pm 29/04/2021 8.30 am 03/05/2021
Can Tho 17.30 pm 29/04/2021 8.30 am 04/05/2021

Our Call Center will operate from 8.00 am to 20.00 pm during these holidays. 

Due to the high volume of transactions during the Holidays, you may experience slower than usual system performance. We advise you to withdraw money or make any other important transactions before 16.00 pm on 21/04/2021 & 29/04/2021. 

For further assistance, please call our Hotline on 1800 6788, send us an email to care@timo.vn, or inbox us via our Fanpage.

SOME TIPS AND SUGGESTIONS FOR SAFETY TRANSACTIONS.

  1. Beware of fraudsters during this time. We advise you to be watchful when withdrawing money at ATMs to avoid your password being stolen. 
  2. If you suspect that your card data may have been compromised or stolen, you can lock your card(s) immediately via the Manage Cards section in the Timo app. Don’t forget to notify Timo immediately for prompt support.
  3. NEVER SHARE your password / PIN / Quick Code / OTP with anyone! Neither Timo nor our banking partner ask for such information. 
  4. ALWAYS access Timo via the App or via the website www.timo.vn into your web browser, NEVER by clicking on a hyperlink.
  5. DO NOT CLICK OR FORWARD links in emails, SMS or chat/WhatsApp messages if you doubt the authenticity of such links.
  6. DO NOT SHARE your confidential personal and banking details with any third party via phone, messaging apps or email. 
  7. NEVER SHARE or post a picture of your card number to the public.

Ho Chi Minh City, April 15, 2021 – Timo Digital Bank platform today officially announced that Mr. Nirukt Sapru has been appointed to the Global Advisory Board of Timo with effect from 1 April 2021.

Nirukt has more than 34 years in retail, commercial and investment banking. Nirukt brings deep emerging market experience across Asia, Middle East, Eastern Europe and Latin America coupled with having run businesses in the OECD markets of Australia, Europe and North America.

Most recently, he served as Standard Chartered Banks CEO for Vietnam and Cluster CEO for ASEAN and South Asia cluster markets. During his tenure, Standard Chartered Bank Vietnam became one of the leading international banking franchises in Vietnam and he is in particular credited for building out a digital retail franchise.

Prior to joining Standard Chartered Nirukt was Global Head of Emerging Markets and Leverage Finance for ABN AMRO Bank based in London.

His extensive knowledge and experience in Vietnam and other financial markets will allow him to contribute significantly to the long-term domestic and international development of Timo.

Both Nirukt and the company strongly believe that any strategy must be based on customer-centricity. “Timo has an extraordinary cloud based native digital platform which allows it to provide a truly world class digital solution for its customers. With its obsession on customer outcomes, I am excited to join Henry and the team at Timo to help serve our customers to give them a truly world class customised experience” according to him.

With this appointment, Timo gains an exciting opportunity to understand international financial development trends and customise them to the digital banking ecosystem in Vietnam. Mr. Sapru will therefore play a key advising, supporting and empowering role for Timo’s senior management, complementing and validating strategic matters.

Setting up a Global Advisory Board is crucial to assist Timo in realizing its aspirations of becoming the preferred “financial partner” for customers and provide the best financial experience anytime, anywhere. To further advance this mission, Timo has concurrently made a series of additional senior management appointments tasked with developing further innovative solutions. The company hopes to positively contribute to the overall development of the banking and financial sector in Vietnam and improving the lives of the Vietnamese people through innovative and customised digital solutions.

These efforts are also starting to attract global attention. Recently, Timo was awarded “Best Digital Bank in Vietnam 2021” by the prestigious International Business Magazine, the third consecutive year that Timo has received the award “Best Digital Bank in Vietnam”.

Mr. Nguyen Bao Hoang – CEO of Timo said that he sees the line between digital and traditional banks continuously blurring in the future. Timo therefore aspired to simply become a leading bank in Vietnam over the next decade. Meanwhile, in addition to strengthening its position domestically Timo is also assessing international strategic opportunities. Specifically, the company is open to international partners and investors who can provide strategic value to the financial ecosystem and reach customers in both financial and non-financial segments to increase Timo’s overall competitiveness in this period of abundant opportunity but also significant challenge.

For further information please contact:

Ms. Thu Tran – PR & Communications Director 

Timo, HM Town, 412 Nguyen Thi Minh Khai, Ward 5, Dist 3, Ho Chi Minh City

Email: thu.tran@timo.vn – Phone: (+84) 909895377 

1. Duration of the promotion: from April 07, 2021 to April 26, 2021.

2. Location: nationwide.

3. Who can participate:

Vietnamese citizens or Expatriates living and working legally in Vietnam, over the age of 18 and who does not have a Timo account with Viet Capital Bank.
Note: Staff of Viet Capital Bank, employees of the company that operates the Timo App, partner companies and promotional partners (including advertisers and media) are not allowed to participate in this programme.

4. Terms and conditions for rewards:

  • New customer who meets the following qualification criteria will receive a cash incentive of VND 50,000 (“Reward”) when: The customer successfully opens a Timo Account and makes one (01) transaction as regulated (“01 regulated transaction”) using the Timo App.
  • Transactions as regulated include: money transfer (does not include money transfer via phone number), phone top-up, bill payment, online shopping and swiping the Debit card at POS machine with a minimum amount of VND 30,000.

5. Details:

5.1 Detailed rules:

To participate in the Promotion, customers need to perform the following steps:

  • Step 1: Download the Timo Digital Bank app from the App Store or the Play Store.
  • Step 2: Register to open a Bank account through the Timo app as instructed.
  • Step 3: Create a username and password, confirm email address.
  • Step 4: Sign in to their Timo Account on the app.
  • Step 5: Successfully execute 01 regulated transaction.

5.2 Eligibility for Offer:

  • Customers download and install the Timo app, open a Timo Account and make 01 specified transaction during the promotion period. Each Customer is only eligible for 01 Reward.
  • Customers must be one of the first 1,980 people to meet the qualification criteria during the promotion period.

5.3 Incentives:

Offer (cash) worth VND 50,000 (Fifty thousand VND) will be transferred directly to the Customer’s Timo Account.

5.4 Notifying Customer:

  • Within 30 (thirty) days from the end of the promotion, the Customer will receive a notification of the Reward via their registered email and/or via the Timo app.
  • The offer will be credited to the Customer’s Timo Account.
  • The Organization Committee has the right to request additional documents to verify the opening of a Timo Account (if necessary) and sign and receive the Reward.
  • The promotion may be terminated before the deadline in case the number of Reward registered has been issued as notified.

5.5 The incentive is not awarded in the following cases:

  • Customer refuses to receive the incentive.
  • In case customers open a Timo Account, they do not complete the required regulated transactions during the Promotion period.
  • Customer is not among the first 1,980 people who meet the quilification criteria opening during the promotion period.
  • Customer performs 01 unsuccessful regulated transaction or fails to reach the minimum amount of VND 30,000.
  • The Customer does not cooperate, perform and does not comply with the procedures, process and regulations of the Organization Committee.
  • The number of Rewards is exhausted before the end of a Promotion.

5.6 Answer questions related to the Promotion:

5.7 Other regulations:

  • This promotion cannot be used in conjunction with other promotions/offers being launched for customers with a Timo Account or opening a new Timo Account at the same time.
  • By participating in this promotion program, customers are bound to accept all Terms and Conditions of the program, all the amendments (if any) and all the Terms and Conditions of the Timo ATM Debit card and Timo Spend Account as per relevant laws…
  • Participants receiving the Offer are responsible for all expenses incurred in connection with receiving the gift including but not limited to personal income tax, related taxes, travel expenses for card opening and other relevant expenses (if any) …
  • Customers are responsible for coordinating, implementing and complying with the procedures and procedures of the Organization Committee for Timo Account.
  • The Organization Committee is solely responsible for managing the printing process, the accuracy of the proof of reward redemption and circulating the proof of eligibility for the reward. In case the evidence determining the eligibility to receive the reward caused a misunderstanding to the customer, The Organization Committee is responsible for providing the customer the reward in accordance with the regulations. The implementation of the Promotion must be fair and transparent.
  • The Organization Committee is the final decision-maker in the consideration of the reward.
  • The Organization Committee is exempt from liability for force majeure cases occurring during the promotion period.
  • The Organization Committee may change or adjust the terms and conditions of the Promotion accordingly and the adjustment (if any) will be made public via the Customer’s email registration or via relevant communication channels.

For Terms and Conditions, please kindly contact:

Timo Hangouts:

  • Ho Chi Minh:
    • Timo Building – 194D-E Pasteur, Ward 6, District 3
    • Capri by Fraser Building – No.2, C street, Tan Phu Ward, District 7
  • Ha Noi:
    • Vinafor Building – 127 Lo Duc, Dong Mac Ward, Hai Ba Trung District
  • Da Nang:
    • 43-45 Nguyen Van Linh, Binh Hien Ward, Hai Chau District
  • Can Tho:
    • 81-83 Tran Van Kheo, Cai Khe Ward, Ninh Kieu District

We would like to inform you of the Working hours of our Timo Hangouts nationwide during Lunar New Year 2021 as below.

Closing timeClosing dateRe-opening timeRe-opening date
Hanoi & HCMC (Pasteur)8.00 pm09/02/2021 8.00 am 17/02/2021
HCMC (Capri District 7)7.00 pm09/02/2021 9.00 am 17/02/2021
Da Nang & Can Tho5.30 pm08/02/2021 8.30 am 17/02/2021

Our Call Center will operate from 8.00 am to 20.00 pm during the Tet Holiday. For further assistance, please call our Hotline on 1800 6788, send us an email to care@timo.vn, or inbox us via our Fanpage

We wish you a Happy New Year!

SOME TIPS AND SUGGESTIONS

  1. Due to the high volume of transactions during the Holiday, you may experience slower than usual system performance. We advise you to withdraw money or make any other important transactions before 16.00 pm on 09/02/2021. In the event that you encounter an error, we advise you to try again at a later time.
  2. Beware of fraudsters during this time. We advise you to be watchful when withdrawing money at ATMs to avoid your password being stolen. 
  3. If you suspect that your card data may have been compromised or stolen, you can lock your card(s) immediately via the Manage Cards section in the Timo app. Don’t forget to notify Timo immediately for prompt support.

We would like to inform you of the Working hours of our Timo Hangouts nationwide during Lunar New Year 2021 as below.

Closing date & timeClosing date & timeRe-opening date & timeRe-opening date & time
Hanoi & HCMC (Pasteur) 8.00 pm 09/02/2021 8.00 am 17/02/2021
HCMC (Capri District 7) 7.00 pm 09/02/2021 9.00 am 17/02/2021
Da Nang & Can Tho 5.30 pm 8/02/2021 8.30 am 17/02/2021

Our Call Center will operate from 8.00 am to 20.00 pm during the Tet Holiday. For further assistance, please call our Hotline on 1800 6788, send us an email to care@timo.vn, or inbox us via our Fanpage.

We wish you a Happy New Year!

SOME TIPS AND SUGGESTIONS

  1. Due to the high volume of transactions during the Holiday, you may experience slower than usual system performance. We advise you to withdraw money or make any other important transactions before 16.00 pm on 09/02/2021. In the event that you encounter an error, we advise you to try again at a later time.
  2. Beware of fraudsters during this time. We advise you to be watchful when withdrawing money at ATMs to avoid your password being stolen. 
  3. If you suspect that your card data may have been compromised or stolen, you can lock your card(s) immediately via the Manage Cards section in the Timo app. Don’t forget to notify Timo immediately for prompt support.

1. Duration of the promotion: from now to 28th February, 2021.

2. Location: nationwide.

3. Who can participate:

Vietnamese citizens or Expatriates living and working legally in Vietnam, over the age of 18.

Note: Staff of Viet Capital Bank, employees of the company that operates the Timo App, partner companies and promotional partners (including advertisers and media) are not eligible to participate in this program, unless stated otherwise.

4. Terms and conditions for rewards:

Giving rewards valued at VND 50,000 (Li xi) for both the inviter (hereinafter referred to as “sender”) and the invitee (hereinafter referred to as “receiver”) are as follows:

  • The sender (who already has a Timo account) sends Li Xi through the Timo App with a link to open a Timo account for the receiver; AND
  • Within 7 days since the date of getting Li xi, the receiver (who does not have a Timo account) successfully open a Timo account through Timo app via the link which is attached to Li xi 

Timo account: is a Viet Capital Bank account with prefixes starting with codes 800 and 900.

Timo App: is an application called Timo Digital Bank in App store and Timo at CH Play.

5. Details:

5.1 Detailed rules:

To participate in the Promotion, customers need to perform the following steps:

For the sender:

  • Step 1: Login to the Timo app (IOS version or Android version)
  • Step 2: Select send Li xi via phone number and input necessary information of the receiver then confirm to send Li xi
  • Step 3: Wait for an email sent to the registered email to get notified of the promotion (if eligible)

For the receiver: 

  • Step 1: Click the link which is attached in the Li xi from the sender
  • Step 2: Download the Timo app, install and register to open a Timo account according to the in-app instructions.
  • Step 3: Create a username and password, confirm email address
  • Step 4: Sign in to the Timo Account on the app
  • Step 5: Follow the registered email to get notified about the promotion

5.2 Eligibility for Offer:

  • Both the sender and the receiver are only entitled to receive the reward from Timo after completing the steps specified in the article 5.1
  • Timo will update the sender about the registration & Li xi receiving process of the receiver including the status: (1) Done, (2) Pending, (3) Cancel 
  • The sender can send unlimited li xi 
  • Each receiver is only eligible to open one (1) Timo account 

5.3 Incentives:

Offer (cash) worth VND 50,000 (Fifty thousand VND) will be transferred directly to the customer’s Timo Account for both sender and receiver. 

5.4 Notifying Customer:

  • Within 30 (thirty) days from the end of the promotion, the Customer will receive a notification of the Li xi reward via their registered email and/or via the Timo app.
  • The offer will be credited to the customer’s Timo Account.
  • Viet Capital Bank has the right to request additional documents to verify the opening of a Timo Account (if necessary) and sign and receive the Li xi reward
  • The promotion may be terminated before the deadline in case the number of Reward registered has been issued and after Viet Capital Bank has notified the Department of Industry and Trade.

5.5 The incentive is not awarded in the following cases:

  • Customer refuses to receive the incentive.
  • In case customers open a Timo Account, they do not complete the required regulated transactions during the Promotion period.
  • The Customer does not cooperate, perform and does not comply with the procedures, process and regulations of Viet Capital Bank.
  • The number of Li xi rewards runs out of before the end of the Promotion.
  • The receiver registers to open a Timo Account not from the sender’s link

5.6 Answer questions related to the Promotion:

  • Hotline: 1800 6788
  • Email: care@timo.vn

5.7 Other regulations:

  • This promotion cannot be used in conjunction with other promotions/offers being launched for customers with a Timo Account or opening a new Timo Account at the same time.
  • By participating in this promotion program, customers are bound to accept all Terms and Conditions of the program, all the amendments (if any) and all the Terms and Conditions of the Timo ATM Debit card and Timo Spend Account as per relevant laws. 
  • Participants receiving the Li xi are responsible for all expenses incurred in connection with receiving the gift including but not limited to personal income tax, related taxes, travel expenses for card opening and other relevant expenses (if any) 
  • Customers are responsible for coordinating, implementing and complying with the procedures and procedures of Viet Capital Bank for Timo Account.
  • Viet Capital Bank is solely responsible for managing the printing process, the accuracy of the proof of reward redemption and circulating the proof of eligibility for the reward. In case the evidence determining the eligibility to receive the reward caused a misunderstanding to the customer, Viet Capital Bank is responsible for providing the customer the reward in accordance with the regulations. The implementation of the Promotion must be fair and transparent.
  • Viet Capital Bank is the final decision-maker in the consideration of the Li xi reward.
  • Viet Capital Bank is exempt from liability for force majeure cases occurring during the promotion period.
  • Viet Capital Bank may change or adjust the terms and conditions of the Promotion accordingly and the adjustment (if any) will be made public via the Customer’s email registration or via relevant communication channels.

For Terms and Conditions, please kindly contact:

Timo Hangouts:

  • Ho Chi Minh:
    • Timo Building – 194D-E Pasteur, Ward 6, District 3
    • Capri by Fraser Building – No.2, C street, Tan Phu Ward, District 7
  • Ha Noi:
    • Vinafor Building – 127 Lo Duc, Dong Mac Ward, Hai Ba Trung District
  • Da Nang:
    • 43-45 Nguyen Van Linh, Binh Hien Ward, Hai Chau District
  • Can Tho:
    • 81-83 Tran Van Kheo, Cai Khe Ward, Ninh Kieu District

Hochiminh city, 19th Jan 2021

Context

Timo was established in 2015, as the first digital banking platform in Vietnam to offer customers a unique banking experience coupled with products & services to make their banking life easier and hassle-free. 

The global banking sector is constantly metamorphosing yet in an embryonic stage in Vietnam. 

Timo has emerged as a leading non-conventional bank in the nation and beyond with a digital-first mindset. The bank has achieved a remarkable double first with The Global Economics award categories- #1 in Fastest Growing Digital Bank 2020 and #1 in Most Innovative Digital Bank 2020 in its ongoing digital banking transformation. The Global Economics is a U.K.-based premium financial magazine and is happy to commend Timo Bank in its unique approach of integrating banking with lifestyle sought after by many private banking customers.

Award criterias

Timo’s strategy is product-led, innovation-led, and customer-centric- the best of integrated functionality and value. Timo has modernized the e-Payments ecosystem with EasyPay for their increasing digital-native customer base. 

The following criteria were looked upon during the process of evaluation:

  • Customer Reviews/Feedback
  • Market Reach
  • Products and Services
  • Online Presence
  • Technology used
  • Innovation
  • Growth

What made Timo stand out from traditional banks was a strategic decision to bypass formal branches and instead, invite customers to “Hangouts”, which are hybrid coffee shop-banking centers. This was the first innovation that prioritized customers at the forefront of the business. 

Hangout model is the Timo’s commitment to put customer first

Timo’s vision & mission

Unlike typical banks in Vietnam, Timo also streamlined the sign-up process via Digital channels that could be completed in under 5 minutes, followed by a 15-minute physical visit to any of the Hangouts nationwide where a “wet signature” and Debit Card was collected (as required by State Bank of Vietnam regulation). A new Timo member enjoyed a complimentary beverage at the Hangout, while the verification is completed and walks away with a Debit Card. 

Most importantly, this customer experience and customer-first approach allowed Timo to demystify the complex banking environment and deliver a Simple, User-friendly and transparent banking platform accessible on iOS, Android and through a web app. Safety measures like authentication, are also streamlined with multi-level security protocols like Fingerprint Login, Face Recognition, Card lock / Unlock iOTP in the App and OTP via SMS to ensure customers’ funds are safe.

After 5 years of operating in the market, Timo opened 5 hybrid coffee shop branches called “Hangouts” across 4 key provinces nationwide – where customers can experience a digitized financial product in a unique environment that’s not a typical bank. In 2019, Timo was recognized for its innovative efforts and was awarded “The Best Digital Bank in Vietnam” by Asia Money– further cementing its maturity and success in improving the landscape of banking sector in Vietnam. 

New year new look with Timo

Timo changes banking partner

Extending the digitalization trend in Vietnam, Timo decided to move to its next development stage by partnering with Viet Capital Bank in September 2020, with a shared vision of bolstering innovation and better customer experience. 

Timo’s mission is to benchmark its smart financial management platform with a focus on the best user experience. Timo offers users can conveniently send and receive payments, manage savings and investments, borrow money and create financial plans. To accomplish this mission, Timo decided to form this strategic partnership with Viet Capital Bank that promises a closer working relationship and upgrades. 

Within 2 months post the transition from the previous partner, Timo recorded impressive numbers with over 100,000 new and migrated accounts. The company has been quick to expand its capacity by continuously deploying new ‘hangout’ branches and pop-up event locations to meet the overwhelming demands of customers eager to join the newest digital bank. In the true spirit of collaboration, Viet Capital Bank branches in select cities, also onboarded Timo customers. This number will continue to grow as Timo and Viet Capital Bank strengthen their partnership and aims to reach as many customers as possible across the country. 

About Viet Capital Bank 

Established in 1992, Viet Capital Bank has over 27 years of experience in transforming the banking sector of Vietnam through a focus on technology and customer care, especially for SMEs and individual clients. In digital banking, Viet Capital Bank has earned its reputation to adopt digital transformation initiatives such as being the first to implement eKYC with TrueID technology from VNG. 

Viet Capital Bank has also been pioneering in online and mobile banking and has led the banking sector in partnerships with the leading Fintech and digital financial services innovators. Its business results through the first 6 months of 2020 reflect the benefits of this focus on technology and innovation as the number of transactions and transaction value handled by Viet Capital Bank have increased by over 3 times and over 5 times, respectively, as compared to last year.

Timo_7Eleven_strategic_cooperation

Ho Chi Minh City, January 11, 2021

TIMO’S STRATEGIC COOPERATION WITH 7-ELEVEN OFFERS SERVICE WITH ADVANTAGEOUS FEATURES AND ATTRACTIVE PROMOTIONS FOR CUSTOMERS.

Context

For the first time, Timo digital bank made a strategic decision to open  a “Hangout”  or branch inside a 7-Eleven convenience store. This latest Timo Hangout is located in District 7, in the Capri by Fraser building alongside a 7-Eleven signature store, in a prime location surrounded by commercial and residential buildings while also marking the 5th “Hangout” opened in Vietnam and the 2nd Timo Hangout in Ho Chi Minh City. With nearly 300 square meters, 7-Eleven Capri by Fraser is the largest store in Vietnam to date – where customers can shop-to-go or dine at the store with a variety of items with quality assurance, affordable price, and attentive and conscientious customer service.

Timo’s statement

Commenting on the strategic cooperation with 7-Eleven, Mr. Bui Hai An – Chief Operations Officer of Timo said:

“The Vietnam retail market  is growing rapidly due to  a young dynamic population that spends a large proportion of their income on consumables.

7-Eleven is one of the largest and most popular convenience store chains in Vietnam and is planning to expand despite the impact of Covid. Timo’s collaboration with 7-Eleven marks a long-term strategic partnership to widen the banking network by making it easier for 7-Eleven customers in Vietnam to shop for their essential needs and register for aTimo debit card or Timo Visa credit card right in the store. In under 10 minutes, customers can enjoy a cup of coffee at 7-Eleven while creating a Timo account for free and walk away with a brand new Timo Debit Card allowing them to experience Timo’s user friendly app anytime, anywhere.

With 2020 being a difficult year with Covid-19, Timo made a bold move and within five months of cooperation with Ban Viet Bank, Timo achieved impressive growth results. With the vision of continuing to innovate on customer experience, Timo has frequently updated the app and launched new features, enabled eKYC also known as opening digital accounts, expanded connectivity with e-wallet networks such as Momo, Moca, Zalopay and Airpay, built a strategic network of non banking partners all while offering attractive incentive packages for the customer’s best interests.

This new Hangout opening was also timed with the launch of Timo’s new dynamic and bold look, changing from a single colour to a 4 colors logo demonstrating its ability to constantly evolve with the aim of disrupting the industry with innovative, intuitive and seamless products. The Logo colours represent Wealth and Power, Stability and Trust, Innovation and Boldness, Joy and Compassion – all linked back to products, features and services offered under the Timo platform. The new logo reflects Timo’s commitment to revolutionize the way people think and feel about banking and finance.

Timo Bank plans to become the pioneering digital bank that provides customers with all essential banking services they need in the palm of their hand.

7-Eleven’s statement

Mr. Vu Thanh Tu – General Director of the 7-Eleven brand shared:

“According to recent statistics of the State Bank of Vietnam, 42% of banks in Vietnam consider digital banking as the top priority in their business strategy and 94% of banks have invested in this area. In addition, the explosion of e-commerce and technology that helps change consumption habits and shopping behaviors is an advantage in helping convenience stores dominate traditional media channels. This is a testament to a strong digitalization trend in the financial services industry. It is also the reason why we decided to choose Timo digital bank as a strategic partner of 7-Eleven.”

7-Eleven customers at Capri by Fraser District 7 are mainly young people such as office workers and university students. Therefore, in addition to developing more products and constantly improving quality and convenience, Timo together with other strategic partners, in the future, will build its ecosystem to offer a range of convenient services, while ensuring the customer experience is not compromised. .” 

Contact information:

Ms. Thu Tran – PR & Comms Director | TIMO

Email: thu.tran@timo.vn – Mobile +84 909 895 377

New year Closure

We would also like to inform you that our Hangouts nationwide will be closed on 01/01/2021 and our Call center will operate from 8.00 am to 17.00 pm on the same day.

To make it easier for you to visit us or contact us please find the working hours of our Timo Plus Hangouts in Ho Chi Minh, Ha Noi, Da Nang & Can Tho below:

Closing timeDateRe-opening timeDate
Hanoi & Ho Chi Minh HangoutAll day01/01/20218.00 am02/01/2021
Can Tho & Da NangAll day01/01/20218.30 am02/01/2021

Also please note that from 23.00 pm on 31/12/2020 till 8.00 am on 01/01/2021, our banking partner has scheduled a core banking system maintenance. During this time, all banking services related to your Timo Plus account and cards (including e-wallet connection, online transactions, money transfers, money withdrawals, POS transactions) will be temporarily INTERRUPTED. Therefore, we advise you NOT TO make any transactions during this time and wait for a couple of hours before the system returns to normal. 

To be well-prepared for the New Year’s eve celebrations, if you want to deposit cash at a Viet Capital Bank counter or make any important transactions like cash withdrawals, we advise you to complete the transaction before 16.00 pm on 31/12/2020. If you want to find locations of Viet Capital Bank Branches, you can use Timo Plus Assistant in the Timo Plus application.

For further assistance, please call our Hotline on 1800 6783/1800 6788, send us an email to care@timo.vn, or inbox us via our Fan page.

Best wishes to you and your loved ones this Christmas & have a Happy New year 2021!

nhận tiền từ nước ngoài

A – HOW TO RECEIVE MONEY FROM OVERSEAS INTO TIMO ACCOUNT?

1. Receive money from overseas into Timo account.

Firstly, make sure that your account is already activated to receive money from overseas.

The application opening account at Timo Hangout includes the agreement receiving inward remittance to Timo account. However, the amount will be converted into VND since Timo is a domestic account.

Accepted currency: USD, EUR, GBP, JPY, THB, HKD, CAD, SGD, AUD, CHF.

The exchange rate is applied to the rate of Viet Capital Bank at the date the bank credits amount into your account.

2. Require information:

  • SWIFT CODE: VCBCVNVX or VCBCVNVXXXX

In case you have errors when input VCBCVNVX at some banks, please try to input VCBCVNVXXXX

(XXX is optional and represents a specific branch. Depending on your own or your recipient’s bank, you might not need to add these last 3 characters)

  • Account number: 13 digits under Spend Account on main dashboard in Timo App
  • Bank’s Name: VIET CAPITAL COMMERCIAL JOINT STOCK BANK
  • Branch: Ho Chi Minh
  • Beneficiary name: Your Full name (the same as written in ID card) 
  • Purpose: Must add a clear reason for moving foreign currency. 

Customers can check these information on the Timo App at “My Bank Details

3. The oversea receiving fee:

  • Crediting fee: 0.05% per total amount exclusive VAT (Min 5 USD – Max 100 USD)
  • No limitation 
  • In case, the beneficiary information is not correct or unclear, the amount might be returned to the sending bank with a refunding fee (this fee is regulated by Viet Capital Bank) 

4. Common issues and how to solve them. 

According to Vietnamese regulations, transactions from oversea to your domestic accounts may be temporarily withheld without sufficient information. Here are some specific cases which customers may encounter: 

  • The transaction is related to investments//securities
  • The sending description contains the text “REFUND or REIMBURSEMENT”
  • The beneficiary name is incorrect

Here are some tips to make sure you receive your overseas funds on time

  • Your sender needs to make sure the Beneficiary name, Account Number, Swift Code (if applicable) are correct
  • The description for sending the funds must be clear. 

For example: personal expenses, living expenses, daily expenses, payment for XYZ

  • If there is any description related to “Refund”, “Reimbursement”, “Investments”, “Stocks”, “Bonds”, “Mutual Funds”, “Loan”, etc, you will be asked for additional documents to process the transfer.
  • If the beneficiary name is incorrect (wrong name order), you may bring valid documents to Timo Hangouts to sign The commitment form. 

B – HOW TO TRANSFER OVERSEA?

Timo is a domestic bank account so you can not transfer money overseas on Timo app. However, you can visit Viet Capital bank branch for support.

  • For foreigners, Viet Capital Bank can sell foreign currencies for those who want to transfer it abroad but must present the valid documents to prove the source of money.
  • Vietnamese can transfer money overseas with the purposes: study abroad, settle abroad, inheritance, etc but must present the valid documents to prove the source of money.

The service fee is applied by the scheduled fee of Viet Capital Bank.