Sacombank and WorldRemit launch instant money transfers to Vietnam
New instant cash pickup service now available at 553 locations in Vietnam
Ho Chi Minh and London, 30 August 2017: Leading digital money transfer service WorldRemit has partnered with Sacombank, one of Vietnam’s leading banks, to support the growing demand for instant remittances from the country’s three million-strong diaspora.
Using the WorldRemit service, Vietnamese people living and working overseas can now send money instantly to friends and family, with recipients able to pick up cash from 553 locations across the country.
The total value of remittances entering Vietnam in 2016 grew by $400 million to $13.4 billion according to the World Bank, a 264% increase in the past decade alone.
WorldRemit’s expansion in Vietnam follows a period of high growth across APAC, with the company expanding its presence in Asia significantly to include Singapore, Hong Kong, Japan and Malaysia.
Globally, WorldRemit customers send 700,000 transfers every month from 50 countries to over 140 destinations; the Asia Pacific region now accounts for almost 25% of all transactions sent.
Ismail Ahmed, Founder and CEO at WorldRemit said: “We are delighted to be expanding our service in Vietnam with Sacombank, one of the country’s most recognised institutions. Vietnam remains one of the top ten global receive markets for remittances, and WorldRemit is committed to providing a secure, fast and lower cost transfer method for the Vietnamese diaspora to send money to loved ones at home.”
To find out more on how to send money to Vietnam using WorldRemit, click here.