Thursday, 14/11/2019

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SMS messaging service

I. INTRODUCTION ON LSMS INTERNAL FUNDS TRANSFER SERVICE

LSMS (Lao Viet Bank SMS) is an electronic banking service package of LaoVietBank, used to send and receive message of mobile phone via Message Exchange of LaoVietBank. 

1. ProductFeatures:

LSMS provides information:

  • Deposit account information: including information on account balance, account transactions, 05 latest transactions, transaction arisen as the account is credited, debited.
  • LVB information: information on the exchange rate, interest rate of LVB
  • Other information: LSMS customer service charges used in Quarter, cancellation and reregistration of registered services, ...
  • Applicable to all telecommunications carrier operating in Laos.

2. Objects of LSMS FUNDS TRANSFER SERVICE:

  • As every customer who has deposit accounts paying LAK money at LaoVietBank and uses mobile subscribers of Telecom providers in Laos (ETL, LTC, Unitel, Beeline)

3. The services offered by LSMS:

LSMS provides to all customers the following add-on services:

  • Looking-up information on account (balance, transaction history, etc.)
  • Financial transactions: funds transfer among the accounts in system of LaoVietBank
  • Automatic information:

- Customer shall receive a message every time the account balance of customer with balance fluctuation.

- The Bank has the grateful promotion to customers.

4. Form of paying charge:

  • For INTERNAL FUNDS TRANSFER SERVICES: the system will charge as customers make the funds transfer transaction via mobile phones.
  • For customers with submission, withdrawal transaction and the program on reporting fluctuation situation of account or customers implement account query transaction on LSMS program.  LSMS system will track customer's transactions, then periodically (quarterly), it will charge the services.

5. The benefits of customer as using LSMS service:

  • Customers can make funds transfer in LaoVietBank system anytime, anywhere without going to the Bank.
  • Customers can manage effectively their accounts by updating information on status of deposit account, loan ...
  • Provided the information on new products and services of LaoVietBank;
  • Simple registration procedures.

6. Registration documents:

  • Letter of registration on using LSMS funds transfer service under Form 1A (Personal), 1B (Organization)
  • Letter of proposal on changes of information onLSMS funds transfer serviceunder Form 2A (Personal), 2B (Organization)
  • ID of customer

Record on proving legal status of account holder, or the representative of the account holder.

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7. Transaction limit:

- 2,000,000 LAK/ 01transaction. Maximum 05 transactions within one day.

 

 

II. LSMS service charge of LaoVietBank

No.

Charge

Personal customer

Organization customer

1

Registration charge on using the service

Not charged

Not charged

2

Monthly lump-sum charge

5.000 LAK/month

20,000 LAK/month

3

Charges arisen under transaction (message)

200 LAK/message

200 LAK/message

4

Funds transfer service charge

500 LAK/transaction

500 LAK/transaction

 

III. The registration steps of using LSMS funds transfer service

Map: The registration process of using LSMS funds transfer service

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