Social Security Payout

Social Security
Payout

Overview

The Co-operative Bank of Vietnam (Co-opBank) provides social security benefit payment solutions to support government agencies, local authorities, and relevant organizations in disbursing social security benefits to the right beneficiaries, on time, safely, and transparently.
Co-opBank’s service also contributes to the gradual transition from cash-based disbursement to account-based payments, in line with the Government’s and the Banking industry’s digital transformation strategy.

Co-opBank delivers tailored payout solutions that suit local realities and the specific needs of different social welfare beneficiary groups, including:

Disbursing social welfare allowances directly into beneficiaries’ current accounts opened at Co-opBank.
Executing collection and disbursement services based on payroll lists provided by competent authorities.
Supporting the opening and management of current accounts for eligible welfare beneficiaries.
Providing digital banking channels to enable beneficiaries to track, manage, and utilize their allowance funds conveniently.