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Banking & Finance

HSBC launches e-customs payments

Released at: 21:33, 28/03/2017

HSBC launches e-customs payments

Photo: HSBC

Channel allows bank customers to pay taxes, fees and charges to offices of Vietnam Customs.

by Duy Anh

HSBC Vietnam has signed a cooperative agreement with Vietnam Customs to launch e-customs payments, which will provide HSBC customers with a more convenient customs payment process online.

Upon registering for the service, HSBC customers will be able to use the bank’s electronic banking channels to pay taxes, fees and charges to customs offices. Customers will also benefit from a reduction in payment errors and can expect faster customs clearance on goods and better operational efficiency when importing goods into Vietnam.

The cooperation with Vietnam Customs also allows HSBC to retrieve electronic information on customs declarations directly from the e-customs gateway. HSBC customers no longer have to provide forms for customs declarations when making payments.

The initiative is in line with the direction issued previously by the Ministry of Finance calling for greater cooperation between banks and Vietnam Customs to enhance administrative formalities, quicken the customs clearance process, bring convenience to customers, and modernize the collection of State budget funds.

“At HSBC, developing payment solutions on digital platforms has been one of our key focuses in recent years to offer our customers greater convenience,” said Ms. Nguyen Thi My Hanh, Head of Global Liquidity and Cash Management. “This cooperation with Vietnam Customs is the latest step on this journey, one that is further contributing to Vietnam’s digital transformation.”

“Each digital solution that we introduce not only saves time for HSBC customers, so they can focus on their business, but also contributes to Vietnam’s financial development, enhancing the country’s competitive edge by moving away from cash payments, as we have been urged to do by the State Bank of Vietnam.”

HSBC also partnered with the General Department of Taxation to launch an online tax payment platform, in December 2015, becoming one of the first foreign banks to apply an extended “cut off time” for Online Tax Payments, to 8pm, providing more time for customers to meet their tax obligations.

The move is in also line with an earlier comment from the CEO of HSBC Vietnam Mr. Pham Hong Hai, who told VET that the bank will continue to digitalize to further streamline processes, deliver automation to corporate clients, and enhance their digital channels to increase customer engagement in the retail business.

The bank will also continue to leverage its international network to support clients’ business, specifically focusing on business corridors with leading foreign-invested enterprises in Vietnam and industry leaders, providing them with a one-stop solution while growing its retail portfolio.

HSBC Holdings, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 4,000 offices in 70 countries and territories in Europe, Asia, North and Latin America, the Middle East, and North Africa. With assets of $2.375 trillion at December 31, 2016, HSBC is one of the world’s largest banking and financial services organizations.

HSBC has been in Vietnam for more than 140 years, opening an office in Ho Chi Minh City in 1870. It was the first foreign bank to launch a locally-incorporated entity, on January 1, 2009. Its current network includes two branches and five transaction offices in Ho Chi Minh City, one branch and four transaction offices in Hanoi, and three full service branches in Binh Duong, Can Tho, and Da Nang. HSBC is one of the largest foreign banks in the country in terms of investment capital, network, product range, staff, and customer base.

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