After the Central Committee of the Vietnam Fatherland Front (VFF) publicly disclosed the amount of money donated to localities affected by storm No. 3 and floods, the online community expressed surprise at the transactions that were considered "unusual".

Notably, there are money transfer transactions under 1,000 VND - the minimum money transfer limit according to current regulations at banks.

It must be affirmed that the support of individuals and groups for people in disaster-stricken areas is very valuable, no matter how little or much.

In fact, most banks set a minimum transfer limit of VND 1,000 to VND 2,000.

However, BIDV Bank does not limit the minimum amount when transferring money to other banks in the same system. Therefore, customers who open an account at BIDV can completely transfer money under 1,000 VND/transaction, or even just 1 VND, to another BIDV account.

According to the detailed statement of the Vietnam Fatherland Front for accounts opened at BIDV, there were 3 transactions under 1,000 VND made on September 10 and 11.

3 transactions.jpg
3 transactions with a value of less than 1,000 VND were transferred from an account opened at BIDV to the account of the Vietnam Fatherland Front.

Specifically, on September 10, there was a transaction of 500 VND; on September 11, there was a transaction of 478 VND and a transaction of only 1 VND.

Currently, only the above 3 transactions have amounts under 1,000 VND, although BIDV does not limit the minimum amount when transferring money within the same bank.

However, like other banks, BIDV limits the minimum transfer limit for 247 interbank fast money transfer to VND 2,000/transaction.

According to VietNamNet's survey, except for BIDV, all banks set a minimum transfer limit of 1,000 VND/transaction when transferring within the same system, and a minimum of 2,000 VND/transaction when transferring money quickly 247 outside the system (interbank money transfer).

Banks explain that applying the minimum limit is to improve customer experience and “limit the occurrence of small transactions with inappropriate transfer content”.

The largest minimum transaction amount currently applied by SeABank is 10,000 VND.

Fast money transfer service 247 is applied on payment methods such as cards, bank accounts, VietQR, phone numbers, electronic accounts, electronic wallets. Transactions are performed on Internet banking, Mobile banking, ATM and at transaction counters.

You can transfer money to support people affected by storms and floods via the app.

Vietcombank has coordinated with organizations/units/funds at the central and local levels (Fatherland Front, Red Cross, Support Fund...) to open accounts and upload information to VCB Digibank, helping to transfer money to support people affected by storms and floods faster and simpler.

To transfer money to support, customers only need to: Log in to VCB Digibank/ Select the "Charity transfer" feature or type the keyword "Charity transfer" in the search box/ Select the "Fund/Charitable organization" they want to support/ Verify and complete the transaction.