Domestic Bank Transfers

My brother in law makes regular deposits in our Citi VN account from "STATE BANK OF VIETNAM."  I believe but am not sure that this is Agribank.  The deposits are further identified with his name and a numeric code with a date code embedded.  For example 171012XXXXX.  The deposits are made in Ben Tre and all are credited to our account in HCMC on the same day as the date in the code.

Is that a physical deposit or a transfer? I've spoke to my bank and they've said it should of gone in, trying to chase up Vietcom now.

Cit identifies it as "INCOMING DOMESTIC CREDIT" followed by the identifying info that I cited above.  As far as I know it is an account to account transfer but I am not absolutely sure, only 99%.   It is possible that he brings cash to the bank and asks that it be deposited in Citi but I doubt it.  We used to pay our apartment rent by bank deposit to the landlord's account but we had to go to the same bank that he used.  There is no Citi in Ben Tre.

Hmm ok, thanks for the insight.

Depends on what time you went in to the transfer. With my bank if I do it late it is like I did it the next day. But if I do it early it will be in the bank I transfer it to the next day. In your case if it was late Tuesday it should be there today (Thursday). If not go to the bank where the xfer was initiated and have them track it down.

Yeah that was my thinking, we'll have to wait and see; if it doesn't go in today it will be back to the drawing board.

1312j wrote:

Couldn't find an old post on what I was after, specifically speaking and can't find it on the Vietcom website, either.

My partner transferred some money from her account (Vietcom) to my account (VP Bank) on Tuesday evening and it has yet to go into my account. Should it of gone in by now? Not too sure how it works.

If your partner has already transferred? She/he has evidence? I had one experience  Vietcom bank not allow to transfer money to Foreign account by  Internet banking, but if in person can go to bank and transfer (But I have never tried this way in Vitcom bank)

Its very funny system some bank of Vietnam allowed online transferring but did not permit to deposit in by a person.   You should check with your partner and then ask to contact VCB to clarified.

Collwing wrote:

1312j wrote:

Couldn't find an old post on what I was after, specifically speaking and can't find it on the Vietcom website, either.

My partner transferred some money from her account (Vietcom) to my account (VP Bank) on Tuesday evening and it has yet to go into my account. Should it of gone in by now? Not too sure how it works.

If your partner has already transferred? She/he has evidence? I had one experience  Vietcom bank not allow to transfer money to Foreign account by  Internet banking, but if in person can go to bank and transfer (But I have never tried this way in Vitcom bank)

Its very funny system some bank of Vietnam allowed online transferring but did not permit to deposit in by a person.   You should check with your partner and then ask to contact VCB to clarified.

RIght, bit of an update.

Vietcom are saying its complete and passing the buck firmly to VP Bank (have't got a reason to dispute Vietcom's word).

I've spoke to my bank and they've said it will take 3 days to look into which is absolutely no good considering the money should of been in there yesterday... Going to pop in and have a friendly word, later.

Collwing, with regards to what you've said, when you say foreign transfer, what do you mean by foreign account? As in a different bank or a different country? If you mean the latter, both banks are based in HCM.

Let's see how this plays out...

1312j wrote:

Collwing wrote:

1312j wrote:

Couldn't find an old post on what I was after, specifically speaking and can't find it on the Vietcom website, either.

My partner transferred some money from her account (Vietcom) to my account (VP Bank) on Tuesday evening and it has yet to go into my account. Should it of gone in by now? Not too sure how it works.

If your partner has already transferred? She/he has evidence? I had one experience  Vietcom bank not allow to transfer money to Foreign account by  Internet banking, but if in person can go to bank and transfer (But I have never tried this way in Vitcom bank)

Its very funny system some bank of Vietnam allowed online transferring but did not permit to deposit in by a person.   You should check with your partner and then ask to contact VCB to clarified.

RIght, bit of an update.

Vietcom are saying its complete and passing the buck firmly to VP Bank (have't got a reason to dispute Vietcom's word).

I've spoke to my bank and they've said it will take 3 days to look into which is absolutely no good considering the money should of been in there yesterday... Going to pop in and have a friendly word, later.

Collwing, with regards to what you've said, when you say foreign transfer, what do you mean by foreign account? As in a different bank or a different country? If you mean the latter, both banks are based in HCM.

Let's see how this plays out...

What I mean foreign account: Foreigner holding a Local account, we're talking about the local account to local account.

Right ok. VP Bank have no trace of it and Vietcom are saying it is complete.

Advice please?

Have no idea; you should go with Vietnamese and meet Manager at Vietcom bank then ask the payment transaction details.  It usually takes one bank to another bank less than 24 hours, with my experience. If that international transaction then will take three days.

Just keep waiting and see.

1312j wrote:

Right ok. VP Bank have no trace of it and Vietcom are saying it is complete.

Advice please?.

Just to add some thoughts to this discussion ...

- If your VPB account is a salary a/c, you should check with your bank if your a/c can receive money transferred from a third-party domestic account.

In Vietnam, foreign individuals and organizations are permitted to open accounts in local banks to receive money from legal sources, according to the State Bank of Vietnam.
Tuoi Tre News

As you can see in the news (above), couple of years ago in Nov 2015, VCB put a temporary ban on transfer of funds from ATMs/Cards to the domestic accounts of foreign card holders ... only to revoke it a week later.

They said they had to upgrade their system because  “the [foreign] customer profiles are not checked in the case of transfers made via ATMs or cards.”

I wonder if this could be the reason for this unusual delay in crediting the money to your VPB a/c??
I mean, they (?) are still "checking" your VPB a/c profile.

Vietnam is tightening its anti money laundering (AML) laws and State Bank of Vietnam (SBV) "is mainly responsible to the Government for state administering the implementation of AML regulations."

It seems all transfers and transactions are directly or indirectly monitored by SBV under AML scanner.

The reason I mention this is, in case VCB and VPB both claim they have no clue where the money is stuck, you may have to approach SBV to track it down.

In case of a failed transfer, the money should come back to your partner's VCB a/c.

Right, it turns out my partner sent it to the wrong bank, hence the issue.

Its been sent to PVcom bank instead of VP, so one would presume it should just bounce back eventually?

I don't know how Vietcom missed that it went to PVcom and it took me going in the VP branch for me to tell them that (on the receipt it does say PVcom, I'll be honest, I just thought that was the way they write VP Bank, no idea there was another bank). So when should the money bounce back?