Business

VPBank grants L/C online to facilitate import-export activities

VPBank has been a pioneer in granting letter of credit (L/C) online for import-export businesses in Vietnam to help them save time and costs.
VPBank grants L/C online to facilitate import-export activities ảnh 1VPBank offers the online L/C for import and export firms during the complicated situation of COVID-19 pandemic to help them save time and reduce costs (Photo courtesy of VPBank)
Hanoi (VNS/VNA) - VPBank has been a pioneer in granting letter of credit (L/C) onlinefor import-export businesses in Vietnam to help them save time and costs.

Customers whohave a business bank account at VPBank and use VPBank Online can access the website online.vpbank.com.vn/wholesale/login forthe L/C grant online. Those do not have VPBank account can register at abank branch or transaction office to apply for online L/C.

Arepresentative from VPBank said VPBank offers the online L/C for import andexport firms during the complicated situation of the COVID-19 pandemic to helpthem save time and reduce costs. In addition, customers get free consultancy infinancial services and can complete the L/C content to match the tradecontract, protecting their interests in foreign trade transactions.

Issuing L/Conline operates on the internet, does not require customers to invest ininstallation of software and is suitable for all businesses. Allfirms’ information and customer transactions on VPBank's system are absolutelyconfidential in accordance with the law.

“It can besaid that VPBank's online L/C issuance service not only helps protect buyersand sellers in import and export transactions because it is a modern, advancedand safe payment method, but also optimises time for customers to focus onbusiness activities.

"VPBankis proud to be the only private bank in the market to deploy this onlineservice for the import-export business community, demonstrating the bank'sefforts in technological innovation, bringing quality services followinginternational standards to customers, thereby supporting them for recovery andgrowth,” the representative said.

Since thebeginning of the year, VPBank has upgraded and digitally transformed a seriesof specialised products and services for corporate customers, such as theEcompay - Simplify tool that supports online payments, the opening of bankaccounts for small-and-medium enterprises with eKYC, online overdraft loans anddisbursement.

All theseefforts aim to strengthen the connection between customers and banks,eliminating the geographical distance, shortening transaction time and bringingsafety to corporate customers in Vietnam during the COVID-19 pandemic./.
VNA
#COVID-19 #VPBank #letter of credit #import-export businesses #financial services #foreign trade transactions #vietnamplus #vietnam news agency
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