VPBank grants L/C online to facilitate import-export activities
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 Viet Nam to help them save time and costs. 
Customers who have a business bank account at VPBank and use VPBank Online can access the website online.vpbank.com.vn/wholesale/login for the L/C grant online. Those do not have VPBank account can register at a bank branch or transaction office to apply for online L/C.
A representative from VPBank said VPBank offers the online L/C for import and export firms during the complicated situation of the COVID-19 pandemic to help them save time and reduce costs. In addition, customers get free consultancy in financial services and can complete the L/C content to match the trade contract, protecting their interests in foreign trade transactions.
Issuing L/C online operates on the internet, does not require customers to invest in installation of software and is suitable for all businesses. All firms’ information and customer transactions on VPBank's system are absolutely confidential in accordance with the law.
“It can be said that VPBank's online L/C issuance service not only helps protect buyers and sellers in import and export transactions because it is a modern, advanced and safe payment method, but also optimises time for customers to focus on business activities.
"VPBank is proud to be the only private bank in the market to deploy this online service for the import-export business community, demonstrating the bank's efforts in technological innovation, bringing quality services following international standards to customers, thereby supporting them for recovery and growth,” the representative said.
Since the beginning of the year, VPBank has upgraded and digitally transformed a series of specialised products and services for corporate customers, such as the Ecompay - Simplify tool that supports online payments, the opening of bank accounts for small-and-medium enterprises with eKYC, online overdraft loans and disbursement.
All these efforts aim to strengthen the connection between customers and banks, eliminating the geographical distance, shortening transaction time and bringing safety to corporate customers in Viet Nam during the pandemic.
