Unlocking Opportunities: Empowering Businesses with Financial Institutions to Accelerate Growth

The operations of the banking system nationwide are seen as a clear testament to the determination to promote the development of the private sector and comprehensive digital transformation in all aspects of the economy, closely following the resolute and practical orientations of Resolution 68 and Circular 17 of the SBV.

When small costs become a big burden

According to the representative of the Vietnam Banks Association, the mindset of financial provision needs to shift from pure credit support to reducing non-credit barriers such as processes, procedures, and service fees – to help enterprises “reduce costs – increase speed.”

Bank transaction costs, no matter how small, are a “silent obstacle.” Visa’s survey of 600 small businesses in Vietnam points to complex procedures and miscellaneous fees such as transfer fees and account management fees as significant barriers. For a small business, a few thousand VND per transaction, multiplied by hundreds of times a month, can become a real burden, especially when the economy is still facing many challenges. Not to mention large enterprises with a network of agents, partners, customers, and salary payments for tens of thousands of employees, which may make hundreds or even thousands of automatic transactions daily. If fees are incurred, this number is unimaginable and could reduce the enterprise’s revenue and profits.

In addition, banks also simultaneously support the legal representative of the enterprise to register biometrics and supplement account opening dossiers to help enterprises improve security, accuracy, convenience for transactions; increase integration capability on multiple platforms, applications, and provide better user experience.

Resolution 68, together with Circular 17 of the SBV, demonstrates practicality and resoluteness in creating an open, favorable, stable business and investment environment and ensuring security and fraud reduction for more than 940,000 enterprises, of which 98% are small and medium-sized enterprises.

The realization of these policies lies in specific solutions from the banking system. From opening transaction accounts with many free fees, providing preferential credit interest rates to modern and intelligent payment solutions and security.

ACB: Not just capital, but solutions

At the seminar “Unblocking Institutional Bottlenecks, Unleashing Private Resources” held by VTV on May 27, Mr. Tu Tien Phat emphasized: “Resolution 68 touches on the four things that businesses need most: costs – procedures – development opportunities – green transformation.” ACB not only makes financial commitments but also builds a specific solution system to solve each “bottleneck” that enterprises are facing in reality:

Eliminating miscellaneous fees: With the Starter Account Package, ACB waives 100% of the fees for account opening, management, online transfers, and counter transactions (money transfers, counting, check transactions, etc.).

Optimizing personnel costs: With the Human Resources Financial Services Package, enterprises are exempt from lifetime fees when paying salaries at the counter and online. At the same time, employees enjoy exclusive benefits in credit, cards, and insurance, helping enterprises increase welfare and retain human resources without additional costs.

Real-time cash flow management: With the QR code solution package, ACB helps enterprises receive money immediately, without transaction fees, easy to integrate into the retail or multi-channel business model. Especially, the QR publications designed according to the five elements (Metal – Wood – Water – Fire – Earth) also contribute to increasing personalization and brand recognition at the point of sale.

Comprehensive digital transformation: All transactions of enterprises that open accounts at ACB are carried out quickly, securely, and conveniently with just a few operations on the ACB ONE BIZ application, aiming to reduce paperwork, save time and manpower, and be completely free from many incurred fees such as domestic money transfer or salary payment fees. This is the answer to the urgent requirement of many small and medium-sized enterprises in the “few people – many jobs” phase.

Opening an account at ACB is a strategic first step, helping enterprises quickly access the entire financial ecosystem: from continuously updated information about competitive deposit and loan interest rates, international payment services, guarantees, to modern and flexible transaction solutions.

These are not only instant benefits but also the foundation for enterprises to benefit from significant institutional reforms, in the spirit of Resolution 68, focusing on cost reduction, simplified procedures, digitization, and comprehensive automation.