Co-opbank: Expanding non-cash payment to response with Covid 19 pandemic.

From the beginning of August 2021, Co-opbank has continued to reduce and waive domestic payment card service and SMS fee throughout Co-opBank system to promote using non-cash payment in the situation of 4^th outbreak of Covid 19 in many provinces and cities all over Vietnam.

This is one of many steps that Co-opBank has taken to support the PCFs, enterprises and people to overcome the difficult period affected by Covid 19 pandemic

Co-opBank has reduced a larger amount of transaction fees on ATM/POS operated through Napas and 24/7 transfer interbank fees for customers than the decreased adjustment of Napas. In particular, reducing cash withdrawal fees, internal transfer fees via ATMs of Napas member banks, providing free inquiry/printing of transaction statements via ATM of Napas member banks and free interbank transfer 24/7 via ATM Co-opBank. Besides that, to encourage customers to use card products, Co-opBank will continue to set zero fees for its debit cards, checking claims in card transactions; inquiry/printing of transaction statements, cash withdrawal on ATM Co-opBank, cash withdrawal on Co-opBank’s POS, goods payment on POS of Napas member banks; internal transfer on ATM/POS Co-opBank and SMS Banking service.

Previously, Co-opBank has applied a 50% discount on payment transactions via the CF-eBank electronic payment system to members of PCFs to support people and enterprise to overcome their difficulties caused by the Covid-19. In June 2021, to celebrate Cashless Day on June 16^th, Co-opBank also set free to money transfer payment services for PCF members.

In the first 6 months of 2021, the CF-eBank electronic payment system was maintained in a safe and efficient operation, serving fund intermediation within Co-opBank system and between Co-opBank and PCFs and providing money transfer services to meet the payment requirements of PCF members and customers. The number of money transfer transactions going through the internal payment system is 407,580 items, with a total value of 161,861 billion VND. The money transfer transaction reached 330,188 items, with a total of 153,092 billion VND. Through the first half of the year, 40 PCFs joined as new members of the CF-eBank system, increasing the number of Co-opBank transaction points to 676 with 578 PCFs participating in payment system.

Since 2018, Co-opBank has deployed domestic payment card products to PCFs, combined with the CF-eBank electronic money transfer payment service; PCFs have become a safe transaction point in local areas. Customers who come to the transaction points at the PCFs can easily perform transactions (depositing, withdrawing, transfering, enquiring bank statement and balance) with simple procedures and quick transaction time.

In 2019, after deploying overdraft product to individual customers, Co-opBank started deploying overdraft product for officers, employees and members of PCFs to meet unexpected using needs,  promoting non-cash payment in the ​​operation areas of the PCFs: buying family essential goods, transferring children’s school fees or paying for daily production and business activities…The number of PCFs using Co-opBank overdraft service has increased every year and they have given many positive feedback…