Have you ever been in a situation where you avoid doing something because you do not want to go through the hassle or you are worried that it might affect your relationships or your own personal financial situation?

Explore how Timo can help you solve some of the most common situations that you might be currently avoiding in the article below.


1/ Try a new digital product or service

Many people miss out on experiencing new digital products or services because they are worried that they will have to spend a lot of time learning how to use them.

To overcome this common concern, the Timo app is designed with the top priority of being simple and user-friendly. The layout and location of the main sections in the Timo app are arranged and presented in a logical way to ensure that anyone can use the app right after they have become a customer and have downloaded the app.

2/ Open a savings account

Do you keep a fair amount of cash at home because you feel like you have not saved enough to open a savings account?

With Timo, you can open a savings account anytime and anywhere. Instead of keeping cash at home, you can have as many savings account as you want right on your phone. Goal Save will help you to achieve any saving goal that you might currently have, such as: saving for a new motorbike, a new laptop, a holiday, etc. The number of Goal Save accounts you can have is unlimited, and you can start saving with even 500 VND. If you wish to open a savings account to earn interest, you can also do that in the Timo app with Timo Term Deposit. Not only does Term Deposit come with attractive interest rates of unto 7%, it also allows you to open a savings account at only 1.000.000 VND.

These Timo products were built to make sure that you will never have to worry about going to a bank or whether you have saved enough money to open a savings account.

  • Important notes:

    From 5th July 2019, foreign nationals are no longer eligible for Goal Save Accounts as stated in Circular no. 48/2018/TT-NHNN. For Term Deposit Accounts, foreigners with a valid document proving residential status in Vietnam with at least 6 months validity will be eligible to open Term Deposit Accounts with a Term NOT greater than the remaining of its validity. Existing Term Deposits opened before 5th July 2019 will be continued until its maturity.

3/ Going through complicated paperwork hassle for a loan

Getting a loan at traditional banks often requires a wide range of different documents such as: proof of income, mortgage assets, etc. When you bring these documents to a bank to apply for a loan, sometimes you can even face situations when you are asked to submit more supporting documents.

To make your journey painless, Timo Fast Cash does not require you to provide any proof of income or mortgage asset. The only things you need to do are to check if you are qualified for Fast Cash and fill in your application form in the Timo app. Once it is submitted, your application will be reviewed within 30 minutes.

After your application is approved and your Spend Account balance reaches 0, your approved Fast Cash limit will be activated. Although you cannot use Fast Cash limit at ATM machines, you can use it to pay via POS swipes, make online payments or money transfers.

4/ Asking for your money back



Some of us often avoid picking up the phone to call or message someone we know to ask for the money we lend them. This might be because we do not want to embarrass them, or we feel like it would affect our relationship with them.

With Timo’s Payment Request, you will have more of a subtle and polite way to ask for our money back. You can either quickly send a reminder to your friends/family or pay off a debt within a few swipes and taps. You can also manage your debts closely as they are divided into two separate categories – Outstanding and Completed. The debts paid from the Payment Requests you send out will be in the Completed section. Conversely, the payment requests you have not paid and the payment requests you sent out that have not been paid will be in the Outstanding section.  

5/ Shopping with your credit card

Owning a credit card does not always mean you would freely spend money without thinking about it. If you belong to the group of people who are careful in their spending, it is likely that you will face situations when you hesitate to buy an item because you may not be able to clear the outstanding about all at once.

With a Timo Mastercard, you do not have to worry about this anymore as any eligible transaction over 3.000.000 VND can be converted into installments with the applicable interest rate of 1% per month. Additionally, you would also be entirely proactive in paying for your installments as it is your own choice to settle your payment in 3, 6 or 12 months.

As you can see, Timo can help you to solve many concerns and challenges in a simple and convenient way. Learn more about us here.