Interbank transfer is one of the convenient services that banks provide to customers. For those using a bank card for the first time, this may cause questions about how it works and how long it takes to receive the money. Below are some detailed information about this service. Let's find out with us!

1. What is Interbank Transfer?

Interbank transfer is a service that helps customers transfer money from one bank account to another bank account quickly and safely. Provided that the person making the transaction (both the sender and the recipient) must have a bank account.

2. Should I Use Interbank Money Transfer Service?

Currently, there are many ways to make interbank money transfers, from over-the-counter transactions or using ATMs to online transfers.

Among them, online services are often highly appreciated due to many advantages such as speed, convenience, and high security. Many customers also prefer online money transfer because it is suitable for busy people and wants to save time.

The advantages of online interbank transfers include:

Fast transactions, no need to go to the counter.
Convenient, can be done anytime, anywhere via Internet Banking or Mobile Banking.
Ability to trade outside of business hours and holidays.
Large money transfer limit, suitable for regular needs.

Using interbank money transfer services brings many benefits to you

3. Time to receive money when transferring money between banks

Fast Money Transfer (Napas): If you use the fast money transfer service through the Napas system, customers can receive and transfer money immediately, 24/7, even outside of business hours or on weekends.

Regular Transfer (Citad): The normal time to receive money is within the same day (morning transfer) or the next working day (afternoon transfer). The specific time depends on the level of connection between the sender bank and the receiving bank, as well as the working hours of the parties.

Note: Transactions at times of high volume, sent on weekends, may delay the time to receive money a bit, but not more than 3 days.

4. Interbank Money Transfer Service at Eximbank: Safe and Convenient

Eximbank, whose full name is Vietnam Import-Export Commercial Joint Stock Bank, was established on May 24, 1989 under Decision No. 140/CT of the Chairman of the Council of Ministers, and is one of the banks Vietnam's first joint stock trade.

After officially coming into operation on January 17, 1990, the Bank received license No. 11/NH-GP from the Governor of the State Bank of Vietnam on April 6, 1992, allowing it to operate in term of 50 years. Eximbank is also one of the banks with the largest equity capital in the Joint Stock Commercial Bank sector in Vietnam. Operating across the country, the Bank has its Head Office located in City. Ho Chi Minh and 207 branches and transaction offices nationwide. At the same time, Eximbank has established agent relationships with 869 banks in 84 countries around the world.

Using money transfer service at Eximbank has many benefits for customers

Because of that, many customers have trusted and chosen Eximbank's services. Typical among them is the interbank transfer service. Not only transactions at the interbank money transfer service counter, it also integrates many online utilities to support faster and simpler living conveniences.
Besides, customers will also save costs and time, especially when making regular transfers on the Eximbank banking application. The bank's interbank money transfer service also provides assurance and safety for customers' cash flow. With simple operations, every transaction can be completed in one minute.

5. Interbank money transfer fee at Eximbank

Eximbank cooperates with Vietnam National Payment Joint Stock Company (Napas) to provide interbank money transfer services via account numbers to 43 other banks. This service applies to Vietnamese individual customers residing in Vietnam and can be used on Internet Banking, Mobile Banking, or at Eximbank's transaction points.

5.1 Some information about money transfer services at Eximbank

Maximum 300 million VND/1 money transfer.

Fast money transfer on Internet Banking: Maximum 20 money transfers/day.

Quick money transfer at the counter: Unlimited number of money transfers/day.

5.2 Money Transfer Service Fee at Eximbank

Fees when transferring money at Eximbank will vary depending on the amount transferred. However, the transaction fee will be within 0.033% of the transfer amount (minimum 11,000 VND, maximum 99,000 VND/transaction, including VAT).

In addition, the bank will also charge a tally fee (if any), applicable to cash withdrawals and transfers within 2 working days from the date of depositing cash into the account.

6. Factors affecting money transfer time via Internet Banking

The time to transfer money via Internet Banking, especially interbank transfers, depends on many influencing factors. Here are some things to keep in mind:

6.1 Choose the Right Transfer Type

24/7 Fast Transfer: Receive money immediately within 30 seconds to 5 minutes, including weekends and holidays.

Regular Bank Transfer: Receiving time can be from 3 minutes to 24 hours. Normally, transferring money will often help users save more money, depending on the bank's service.

6.2 Transfer Time Frame

Transactions before 9am will help the recipient receive money before 12pm the same day.

Transactions after 4:00 p.m. may cause the recipient to wait until the next morning.

Online money transfer transactions will help customers avoid depending on the bank's working hours.

6.3 Banking System

If the banking system is overloaded, has errors, or is under maintenance, transfers may take place later than usual. Customers should contact the bank's hotline to check information about system errors.

There are many factors that affect the time it takes to receive money when transferring money between banks

6.4 Other Factors

Transferring money from small banks, which are not linked to the NAPAS system, may be slightly slower than using transfer services from large banks.

Money transfers from branches in remote areas may take longer than branches in big cities.

Customers need to pay attention to accurately entering account information, bank name, and check the account holder's full name to ensure the transfer takes place smoothly and quickly.

That is information about interbank money transfer service. Hopefully the above sharing from Eximbank will help you have more information to use the service quickly and conveniently.