With Flywire's network of more than 4,000 global partners, the two parties' solution helps international students and their families pay for international education-related fees completely online and in Vietnamese Dong.

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Photo: VIB

With just a few simple steps on a secure online platform, VIB and Flywire’s solution helps customers optimize their international payment experience. Customers can complete transactions without having to visit a bank or incur any additional fees. Through VIB, customers can pay thousands of Flywire partners, including educational institutions and travel companies around the world.

Mr. Ho Van Long - Deputy General Director and Director of Retail Banking Division of VIB shared that with the vision of becoming an innovative and customer-oriented bank, VIB always focuses on providing a comprehensive, superior product suite and personalized, innovative service solutions for customers. With the cooperation event with Flywire, VIB has combined the modern technology of the world's leading fintech partner to digitize 100% of international payment services, bringing a seamless, faster and more convenient experience to customers.

“We are excited to partner with VIB to combine their comprehensive banking network and Flywire’s payments technology to transform the way international payments are made for students and travelers,” said Mohit Kansal, Senior Vice President of Global Payments, Flywire.

“Vietnam is an important market for Flywire and we are committed to enhancing our services for our users while strengthening our presence in the region,” added Mohit Kansal.

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Photo: VIB

Accordingly, customers receive many benefits when making international payments via VIB and Flywire:

Simple payment in VND: Customers only need to transfer money in VND to Flywire's account at VIB, instead of having to buy foreign currency in the usual way.

Convenient online payment: Customers do not need to go to the bank, instead, they just need to perform simple operations on the online platform according to Flywire's payment instructions and transfer the correct amount of VND to Flywire's account at VIB to complete the payment. To check the status of the transaction, customers can proactively look it up 24/7 on Flywire's online platform.

No transaction fees: For regular international money transfers, customers will have to pay a minimum of $10 transfer fee and $25 overseas fee per transaction. With payment methods via VIB and Flywire, customers will not have to pay any fees.

Extensive global partner network: Flywire is supported by a network of global, regional, and local banking partners, providing customers with access to a unique suite of payment methods, enabling receiving and payment in over 240 countries and territories in over 140 currencies.

Doan Phong