Although the amount of online deposits is still far smaller than total deposits in banks now, customers have begun to pay attention to online savings.
Although the amount of online deposits is still far smaller than total deposits in banks now, customers have begun to pay attention to online savings.
Tuong Van, living in Vinh Diem Trung Urban Area, Nha Trang City, opened an account at BIDV Khanh Hoa. She saved some money and wanted to save money online for convenience. After registering e-banking service, download the app, activate Smartbanking and Smart OTP of BIDV, Van logined, selected online deposit, from the source account, chose term with the corresponding interest rate, maturity method, then enter the deposit amount (minimum 1 million VND, maximum 5 billion VND), enter the system transaction code provided to complete the online deposit. Van shared, with online savings, she did not need to go to the counter, all operations were on a smartphone with an Internet connection and only a small amount of money could be saved.
E-banking is growing strongly with many products launched by banks, including online savings. On the platform of Internet Banking or Mobile Banking, customers can perform operations from opening savings books, checking interest rates, sending money, settling and resuming whenever and wherever, no need to go to the counter. In order to do online savings, customers must have payment account at the bank and register Internet banking or Mobile banking. How to do online saving may be different in each bank, but basically it comprise some steps such as: logging into Internet banking or Mobile banking, selecting term deposit, choosing saving deposit with term, selecting the account, selecting the deposit term, entering the deposit amount and confirming by entering the OTP code the system sent by message.
Cost of making transactions over the Internet is far lower than that made at the counter. Moreover, online transactions help banks to limit risks caused by bank officials. Therefore, many banks are setting goals to attract online deposit. Currently, banks are actively introducing online savings services with many utilities and incentives. Some banks are offering higher interest rates for online deposit, 0.1 - 0.3%/year than the interest rate at the counter. Savings to encourage online depositors. Depending on each bank, the minimum amount for online savings may be 1 million VND, 500,000 VND, even only 100,000 VND. For low-income people, online saving is a way for them to accumulate fairly appropriate money.
According to Ly Van Tuyen - Deputy Director of Vietcombank Khanh Hoa, people who choose to save online will be assured because all deposit account changes will be updated for them, which is safer to keep regular savings books. However, customers need to keep their mobile phones, emails and login passwords tightly. They also need regularly log in to Internet banking or Mobile banking to search and monitor their accounts, immediately notify the bank if there are abnormal signs. When customers save online, transactions are flexible and active 24/7. If you send savings book normally, during weekends, holidays and Tet when banks don’t open, you will not be able to settle the payment. Howwever, saving online can be settled at any time.
Currently, there are no statistics on the total online deposits in the province. However, surveys in some major bank branches show that the number of customers using online deposits is still low. By the end of June, Vietcombank Khanh Hoa had more than 3,000 online savings accounts with a balance of 210 billion VND; BIDV Khanh Hoa has 898 customers with a balance of 90.3 billion VND; VietinBank Khanh Hoa has 766 customers with a balance of 79.5 billion VND; Agribank Khanh Hoa has 274 customers with the amount of 4.8 billion VND. According to the leaders of some banks, the low number of customers of online savings is partly because this form of savings is still quite new to many people; savers prefer holding savings books to feel more secure. The biggest reason is the technology as most of savers are elder people who are less interested in technology. So, they often choose to send money at the counter rather than online savings.
Although online savings products have not been used by many customers now, but in the trend of the development of electronic banking, online savings will will become more and more popular.
Nam Du
Translated by T.T
