On 29/11/2011 in Hà Nội, BIDV and Western Union held a meeting to announce the agent contract on money transfer service period 2011-2016 with the participation of Mr Quach Hung Hiep – Deputy General Director of BIDV; Mrs. Drina Yue – Senior Vice President and General Director of Western Union in Asia Parcific region and other leaders of both parties.

 

 

At the ceremony, both sides discussed issues on the implementation of money transfer service of Western Union in next time such as: orientation of products, technology, branding and marketing... The two sides also considered some matters relate to anti-money laundering activities; training; Western Union – POS; host-to-host connection system; exchanging information on market, marketing, advertisement... Both sides hoped that this new stage of cooperation will bring more sucess to BIDV and Western Union as well.

Earlier on February 28th, 2006, the agent contract on money transfer service of Western Union had been signed. After five years of implementation, BIDV has gained a remarkable growth in the number of transaction, costs as well as a strong development of sub-agent network. Total of conducted transaction in 2010 is 5 times higher than in 2006; transaction turnover increases seven times; network of transaction office is four time higher than in 2006.

.Agency contract on money transfer service between BIDV and Western Union in period 2011-2016 will strengthen the effectiveness in cooperation between BIDV and Western Union; enhance the image and brand of BIDV in field of money transfering service in particular and other diversified products, services at retail banks in general of BIDV.