Revolut is an e-money institution platform that provides a wide range of banking and financial services through its mobile app and web platform. Launched in 2015, Revolut initially started as a service for managing multiple currencies but has since grown into a comprehensive financial platform used by millions of people globally.
Moreover, one of Revolut’s main features is its multi-currency accounts, which allow users to hold, exchange, and spend in various currencies at competitive exchange rates. This service is particularly popular among frequent travelers and those who need to manage money across different countries.
Beyond traditional banking services, Revolut also enables users to engage in cryptocurrency trading, stocks and comodities directly within the app.
In this article, we will uncover Revolut’ availability and expansion plans in Vietnam, as well as provide alternative solutions.
Is Revolut available in Vietnam?
Unfortunately, Revolut is not yet available in Vietnam and it’s currently available in 35 countries. According to their website, Revolut “You can open a Revolut account if you live in a country or overseas territory listed below: Australia, Brazil, European Economic Area (EEA), Japan, New Zealand, Singapore, Switzerland, United Kingdom and United States”.
As the world of digital banking evolves, Vietnam residents looking for sophisticated and user-friendly banking platforms have a variety of options. Revolut has gained popularity in over 35 countries for its innovative features, transparent operations, and a strong commitment to social and environmental responsibility. However, Revolut is not available in Vietnam.
This article explores the best Revolut alternatives accessible to Vietnam residents who wish to benefit from innovative digital banking services. We will look at the best neobanks and fintech platforms that cater to the unique needs and preferences of Vietnam users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.
Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.
If you would like to read our full review of Revolut just click here!
Revolut Alternatives in Vietnam
In this section, we will be discussing 3 alternatives that share comparable features with Revolut in Vietnam:
- MoMo
- Tnex
- Timo
MoMo
MoMo is a leading digital wallet and neobank in Vietnam, offering a wide array of financial services through its intuitive mobile app. With MoMo, users can easily conduct peer-to-peer money transfers, pay bills, recharge mobile accounts, and shop online, all within a single platform.
In addition to these core functionalities, MoMo provides access to loans, investment opportunities, and various promotional offers, making it a comprehensive digital banking solution.
The platform is designed to enhance financial accessibility and inclusion, particularly for younger, tech-savvy consumers. By leveraging a vast network of merchants and service providers, MoMo plays a significant role in transforming the digital finance landscape in Vietnam, empowering users to manage their finances conveniently and securely.
However, if you still have doubts about MoMo being the right fit for you, just click here and find out more!
Tnex
Tnex is a digital bank launched in 2019 and headquartered in Hanoi, Vietnam. Operating entirely online, Tnex offers a range of financial services through its user-friendly mobile app.
The bank aims to provide a seamless and convenient banking experience, focusing on accessibility and innovation to cater to the needs of tech-savvy consumers.
Overall, Tnex has positioned itself as a significant player in Vietnam’s fintech landscape, contributing to the growing trend of digital banking in the region. Its commitment to customer satisfaction and technological advancement continues to drive its success in the competitive digital banking space.
However, if you still have doubts about Tnex being the right fit for you, just click here and find out more!
Timo
Timo is Vietnam’s first digital bank, established in 2016 and headquartered in Ho Chi Minh City. Operating as a neobank, Timo provides a range of financial services through its mobile app, including savings accounts, payment solutions, and personal loans.
Timo aims to deliver a seamless banking experience, leveraging technology to make banking more accessible and convenient, especially for tech-savvy and younger consumers. The bank emphasizes user-friendly features, quick account setup, and a transparent fee structure.
Overall, Timo has positioned itself as a significant player in Vietnam’s fintech landscape, catering to the evolving needs of its customers and contributing to the growth of digital banking in the region.
However, if you still have doubts about Timo being the right fit for you, just click here and find out more!
Final Thoughts
Although Revolut is not accessible in Vietnam, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.
Having said so, always remember that choosing the best digital bank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.
We hope we helped you in your search for the Best Alternatives for Revolut in Vietnam.
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.
