nhận tiền từ nước ngoài


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!

Ngày nay bạn có thể chọn đầu tư bảo hiểm ngay trên ứng dụng Timo

Credit card usage has grown steadily and is becoming a favoured method of payment for a large number of people around the globe due to the convenience and flexibility it offers. To adapt to the high demand of credit card usage, banks try to make sure the application process of getting a credit card is as painless as possible for customers.
While the process of applying for a credit card can sometime be easy, there are still many factors to be considered before applying for one.
miễn phụ phí xài thẻ mastercard nước ngoài

Card fees of the issuing bank  

With the high demand of credit cards, many banks have tried to establish a reasonable tariff with competitive fees. Hence, before applying for a Visa or a MasterCard, make sure you  first do your research about fees and service charges levied by the issuing bank. There are a few common fees of credit cards, such as: cash withdrawal fees, card issuance fees, annual fees etc.
If you are not worried about card fees and just need the flexibility in your life to manage daily expenses, then a credit card would be the perfect fit. However, if you are just planning to apply for a credit card for the purpose of peace or mind or travelling, you should consider the service fees before getting one. Keep in mind that, except for card fees, there are also several other fines such as: late payment fees, exceeding credit limit fees, foreign exchange fees etc. Each bank would have their own regulations and calculation methods for this.

Credibility of the issuing bank

Choosing a reputable and trustworthy bank for your credit card is of the utmost importance. The credibility of each bank comes from their transparency in documents/papers and the commitments provided to customers upon issuing them their credit cards. Before applying for a credit card, refer to your issuing bank’s policies regarding issuance of credit cards to customers.

Interest rates and the process of calculating interest rates of the issuing bank

Before deciding on the bank to get your credit card, you need to know about their interest rates and how they calculate them. Misunderstanding interest rate calculations can put you into complicated situations that make your banking experience unpleasant and disappointing. We highly recommend that you find out exactly the types of interest rates charged by your chosen issuing bank, repayment period and due dates.

Are you financially able to afford your credit limit?

Businesses around the world have made it easy for their employees to apply for a credit card by providing proof of payroll and other required documents. However, what needs to be considered more is the financial ability of people to repay their entire credit limit. This is because banks usually charge high interest rates on credit loans, and your repayments will highly affect your credit ranking. Hence, make sure you are financially capable of affording your credit limit before getting a credit card for yourself, so you would not have to put yourself in the situation of stress over penalties and bad credit ranking.
miễn phụ phí xài thẻ mastercard nước ngoài
This is some basic information to help your banking experience be more comfortable and reassuring when owning a credit card. We recommend considering all the factors above before applying for a credit card.
For your consideration, Timo is currently offering a Timo MasterCard Credit card with flexible installment plans at 1% interest, along with many other attractive special offers and incentives. Find out more information here to know about how to apply and the qualification criteria for a Timo MasterCard.