MoneyGram, a leading global payments network for consumers, businesses and communities, announced a partnership with Nam A Bank, one of the first joint stock commercial banks in Vietnam.
Through this partnership, MoneyGram customers around the world can now send money to Vietnam for loved ones to pick up cash in Vietnamese dong, and U.S dollar at any of Nam A Bank’s 250 branches nationwide. Senders can initiate transfers via MoneyGram Online or by visiting any of the nearly 500,000 MoneyGram retail locations globally.
“We continuously look to expand MoneyGram’s network through trusted bank partners in Vietnam to meet the needs of the Vietnamese community and its diaspora across the globe. Nam A Bank provides comprehensive transfer solutions in Vietnam, including convenient cash pick up services and mobile banking for its clients. Partnering with Nam A Bank can further enhance our support to the growth of the remittance sector in Vietnam and service our customers worldwide,” said Vijay Raj Poduval, Head of South East Asia at MoneyGram.
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This collaboration builds on MoneyGram’s partnerships with various financial institutions in Vietnam, adding hundreds of locations to its network of nearly 5,000 retail locations in the nation.
“Nam A Bank is delighted to partner with MoneyGram to expand our reach to grow in this dynamic cross-border payments market,” said Mr. Vo Hoang Hai – Deputy General Director of Nam A Bank. “The formation of this strategic partnership further reinforces Nam A Bank’s commitment to advancing financial inclusion and broadening access to international money transfer services that are fast, secure, and convenient for all customers. This collaboration not only fosters the development of cross-border payment solutions but also strengthens our ability to connect with and serve the global community of over 6 million overseas Vietnamese. ”
An estimated USD 16 billion in remittances were sent to Vietnam in 2024, according to VietnamPlus1. To meet the growing demand for dependable cross-border services, MoneyGram is committed to further network expansion across the country.
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