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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:


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
  • 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. 


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.

Nowadays, banking operations are heavily dependent on information technology. All your money is kept in the vault and you will use bank-provided tools like your bank card to control your cash flow. This does not mean that your money will be 100% protected against theft, especially when the loss of money due to the theft of information on the card has caused a lot of confusion. To prevent this, EMV chip card developed by 3 organizations MasterCard, Visa and Europay was born as an optimal security solution for your bank card.

What is an EMV chip?

The EMV chip is an electronic chip with a processor like a computer with high technology, capable of storing and encrypting information with high security. Cards equipped with EMV chip will have a small metal square right above the card number, which is the EMV chip. Currently, EMV is the international standard for bank cards.

Why is the EMV chip card safer than traditional bank card?

To understand why EMV chip cards are more secure than traditional magnetic cards, you need to understand how these two cards work.
The traditional magnetic card widely used in Vietnam contains all of your permanent information under the black magnetic strip. Anyone who can access the magnetic card’s data will get your sensitive information and make the purchase as usual. They can do it over and over again because the information on the magnetic card is fixed. This makes it easy to steal money from magnetic cards.

Chip EMV trên thẻ Timo Plus Visa
EMV chip on Timo Plus Visa Credit card

In contrast to magnetic cards, each time an EMV chip card is used for payment, the EMV chip generates a unique transaction code that is never repeated. In case your card is stolen from a certain store, the fake card will never work because the stolen transaction code will not be used again, the card will be rejected.

In order for a transaction on EMV card to be successful, you will have to undergo complicated 2-way confirmation from the receiving device to the payment bank, Mastercard / Visa and issuing bank. Once licensed by all the organizations involved, the transaction is successful.
It is for these reasons that using EMV card is very safe, especially when you use it abroad.

Currently, banks around the world are switching to EMV chip cards to ensure cardholders’ safety, to avoid counterfeiting and theft of money.

Which bank is providing EMV chip card?

Besides international banks such as ANZ, HSBC, Citibank, … Vietnamese banks are also on the move to convert entirely to EMV cards. There are many major banks introducing international credit and debit cards with advanced EMV chips such as VIB, Vietinbank, Vietcombank, Techcombank, ACB, Sacombank, Timo Plus Digital bank with Timo Plus Visa Credit card, … In the future, every bank must convert to Chip cards for the security and safety of customers.

Hopefully, with the above article, you have a better understanding of the bank card you currently or about to own. If you intend to make a Mastercard / Visa card, choose a card with EMV for the greatest peace of mind!

We would like to inform you of our Timo Hangout and Timo Care working schedule on 25.12.2019 & 01.01.2020. Timo Hangouts will close early for Christmas & New Year and Timo’s Hotline will be unavailable during this time as listed below:



  • Closing date: 25.12.2019 
  • Re-open: 26.12.2019


  • Closing date: 18:0025.12.2019 
  • Re-open: 26.12.2019



  • Closing date: 01.01.2020
  • Re-open: 02.01.2020


  • Closing date: From 18:0031.12.2019 to until the end of 01.01.2020
  • Re-open: 02.01.2020

If you have any issues or concerns, please send an email to and we will get back to you at the earliest.

You can still enjoy uninterrupted service and use of the Timo app and as usual.


– You can visit any local banks ATM to withdraw funds as you require without any fees. You can also access the Timo ATM located outside the Timo Hangout (HCM branch) as usual.

– If you want to deposit cash into your account we recommend you do this on or before 31.12.2019 ( (before 12:00 noon through a bank transfer or before 17:00 via a CDM machine). To the inter-bank money transfer, please note our updated schedule as mentioned at below section.

How to find CDMs around you? Choose CDM/ATM locator on the Menu bar from the Timo app.

– If you suspect that your card data may have been compromised or stolen, you can lock your card(s) immediately with the Quick Actions tray or via the Manage Cards section in the Timo app. Don’t forget to notify Timo immediately for prompt support.  

– Read other card safety guidelines here

Updated schedule of interbank money transfer from 23/12/2019 to 01/01/2020

According to the guidance of the State Bank on the operation of the interbank system at the end of 2019, our banking partner will implement some adjustments to the processing time for interbank money transfer. This means that transfers will not be processed after the cut-off time as follows:

DateCut-off Time
From 23/12/2019 to  27/12/201917:00
From 28/12/2019 to  29/12/2019 13:00
From 30/12/2019 to 31/12/2019 18:00
01/01/2020 Interbank system will not work. 
Any transaction made on this day
will be processed the next day – 02/01/2020.

After this time, interbank money transfer will be back to normal.

To avoid unnecessary inconveniences for your transaction, please note this schedule and contact us via email or via our Call Center on 1800 6788 if you are still experiencing other issues.