Internship report on Main tasks of International Payments at Techcombank.docx

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HO CHI MINH CITY BANKING UNIVERSITY
DEPARTMENT OF FOREIGN LANGUAGES
Internship Report
Batch: K30 (2014-2018)
On
Main tasks of International Payments
At
TECHCOMBANK – LONG AN BRANCH
Prepared by
Student’s full name: HUYNH NGUYEN LAN CHI
Student’s ID number: 030430140245
Program: Business English
Internship Supervisor
Name: VO THANH TUAN
Title: Master of Arts
Department: Foreign Languages
Date of Submission:

ACKNOWLEDGEMENT
First of all, I would like to send my profound gratitude to Banking University of Ho Chi Minh city for
providing useful environment with so much practical knowledge and many outdoor activities for us. By
participating in STEP – English Speaking Club of Foreign Language department, I have a great
opportunity to improve my English skills and learn various soft skills.
In addition, I wish to express my sincere thank to all of the lectures in Foreign Language department
for their helpful lessons in class. Specially thankful to my supervisor - Master Vo Thanh Tuan – a
teacher of Foreign Language department for his conscientious and dedicated instruction, his kindly
supporthelpsme complete my internship course and internship report properly.
Moreover, I would like to give my greatest appreciation to Vietnam Technological and Commercial
Joint Stock Bank (TECHCOMBANK) – Long An branch, the manager and all of the staffs, for offering
me the best condition to work here. From the bottom of my heart, I wish my deepest thanks to my
supervisor – Ms. Nguyen Thi Kim Nhi. Without her support, I could not go through the completion of
internship period. Her advices are very helpful for me to develop myself.
Last but not least, I wish an honest gratitude to my beloved family and my friends, those who always
stand by me and help me overcome many difficult moments in life. Also, I would like to thank my
dearsister – Ms Huynh Nguyen Lan Phuong for her encouragement and inspiration during the course of
my academic career.

STT Nội dung đánh giá Điểm Nhận xét
1 Tinh thần, thái độ làm việc tại Cơ
quan thực tập (dựa trên cơ sở đánh
giá của cơ đơn vị thực tập)
/2.0
2 Mức độ chấp hành nội quy thực
tập và thực hiện các yêu cầu
chuyên môn theo hướng dẫn của
Giảng viên hướng dẫn
/2.0
3 Chất lượng báo cáo thực tập
- Trình bày /1.0
- Ngôn ngữ /1.0
- Nội
dung báo
cáo
a. Tống quan về cơ quan
nhận thực tập và bộ
phận thực tập
/1.0
b. Nội dung công việc
được phân công và
phương pháp thực hiện
/1.0
c. Kết quả của đợt thực
tập, bao gồm:
Những kiến thức, kỹ
năng được củng cố
hoặc học hỏi được
Những kinh nghiệm
đã tích lũy được
Các đóng góp của
bản thân cho cơ quan
và các sáng kiến, đề
xuất giải pháp (nếu
có)
/2.0
Tổng điểm /10.0

CONFIRMATION OF THE INTERNSHIP SUPERVISING UNIT
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Director
Tan An city, day….month….year….

Table of content
CHAPTER I. INTRODUCTION ----------------------------------------------------1
1.1. General introduction about Vietnam Technological and Commercial Joint Stock Bank
(TECHCOMBANK)............................................................................................................................. 1
1.2. TECHCOMBANK – Long An Branch: ..................................................................................... 2
1.2.1. Introduction......................................................................................................................... 2
1.2.2. Products and services:......................................................................................................... 2
1.2.3. Organization system............................................................................................................ 3
CHAPTER II. INTERSHIP ACTIVITIES ----------------------------------------4
2.1. Learning about the international payment activities of Techcombank – Long An branch............ 4
2.1.1. Letter of credit (L/C)............................................................................................................... 4
2.1.2. International money transfers: ................................................................................................ 6
2.2. Photocopy, scan and imprint the documents.................................................................................. 7
2.3. Check the documents. .................................................................................................................... 7
CHAPTER III. INTERNSHIP OUTCOME---------------------------------------8
3.1. Theoretical knowledge:.................................................................................................................. 8
3.2. Practical skills:............................................................................................................................... 9
3.2.1. Time management skills ......................................................................................................... 9
3.2.2. Communication skills ............................................................................................................. 9
3.2.3. Computer skills ....................................................................................................................... 9
3.2.4. Critical thinking skills............................................................................................................. 9
3.2.5. Attention to detail.................................................................................................................. 10
3.3. Practical experience: .................................................................................................................... 10
CHAPTER IV. CONCLUSION---------------------------------------------------- 10

1
Chapter I. INTRODUCTION
1.1.General introduction about Vietnam Technological and Commercial Joint Stock Bank
(TECHCOMBANK)
- Headquarter: 70-72 Ba Trieu Street, HoanKiem District, Hanoi, Vietnam
- Tel: +84(4) 39446368 Fax: +844) 39446362
Vietnam Technological and Commercial Joint Stock Bank (TECHCOMBANK) was established on
September 27th
, 1993 with initial capital of 20 billion dong.
Techcombank is one of the leading commercial joint stock banks in Vietnam, consistently posting
growth in excess of 30% for both total assets and annual turnover. By the end of 2010, total assets of
Techcombank reached over VND 150,000 billion.
With a network of 315 branches, transaction offices, 1229 ATM machines and 7000 professionally
trained employees along with the most advanced technology banking systems, Techcombank has
continuously developed with the outstanding business performance and repeatedly recognized as the
prestigious financial institution with the reward “Vietnamese best Bank”.
Strategic business area: personal financial service, banking service for small and medium enterprises,
wholesale bank and transaction bank, the bank offers financial products and services to meet
diversified demand of many customers. Currently, the bank is serving 3.3 million individual customers
and 45.368 million corporate customers.
Collaborating with HSBC, our strategic shareholder holding the maximum stake of 20%, and the
strategic consulting firm McKinsey, Techcombank has rolled out Program TechcomOne. This is a
comprehensive strategic plan for the period 2009-2014, with the aim to transform Techcombank into

2
the best bank and leading business in Vietnam. Program TechcomOne was extensively implemented
across the entire organization in 2010, bringing about fundamental changes that set the platform for
Techcombank to develop into a modern bank. This puts us in good stead for strong breakthroughs in
2011 and beyond.
1.2.TECHCOMBANK – Long An Branch:
1.2.1. Introduction
The Long An branch of Techcombankwas established on October 16th
, 2009. It located at 103A Hung
Vuong street, ward 2 ,Tan An city, Long An province.
The branch has directly access to headquarter and all of the other branch and sub-branch in Vietnam.
They always make every effort to bring the best banking products and services to customers including
personal banking products and corporate banking products.
1.2.2. Products and services:
Personal banking products:
- Savings
- Loans
- E-banking: Easy to make transitions anytime, anywhere with absolute security via online
banking.
- Techcombank card: Techcombank offers a wide range of cards with outstanding benefits and
exclusive privileges that could fit the needs of your lifestyle.
- International money transfers
- Bancassurance
- Interbank fund transfer via card numbers

3
- Premium payment
Corporate banking products:
- Deposit and account management: Techcombank will help you maximize profit from your idle
capital through an extensive network. Including: collection service, custom duty payment,
automatic payment, fast E-Bank – Internet banking for businesses, local tax collection, online
tax collection, electricity bill payment service, payment service, payroll service, fax/email-
based transaction service, smart money deposit, B-plus deposit, B-Express deposit, term
deposit.
- Corporate financing: Getting ahead in your business with our wide range of credit products and
steady source of capital.
- Trade finance and guarantees: Techcombank offers a comprehensive range of solutions to
promote and support your trading activities, fulfill domestic and international payment needs.
- Foreign exchange and capital trade
- New products and promotions
1.2.3. Organization system

4
Chapter II. INTERSHIP ACTIVITIES
2.1. Learning about the international payment activities of Techcombank – Long An branch
We were instructedin terms of international payment in the first working week at Techcombank – Long
An branch. Thus, we have a chance to understand clearly about the process of import and export
payment based on letter of credit (L/C) and international money transfers.
2.1.1. Letter of credit (L/C)
The process includes 3 steps:
Board management
Corporate banking
transactions
Retail banking
transactions
Personal banking
transactions
Retail banking executive Personal banking
supervisor
Corporate banking
executive
Administrative office
International payment
office

5
- Step 1: Receive L/C opening application from customers. The customers must reach those
following requires:
+ Having legal status following the law of Vietnam.
+ Having certificate of business registration (only for new customers)
+ Having import and export business code numbers(only for new customers)
+ Having bank accounts.
+ Having foreign trade contract.
+ Having import license from Ministry of Industry and Trade or other relevant competent
organization.
- Step 2: Open L/C
There are two kinds of L/C in Techcombank – Long An branch included revocable and irrevocable
L/C. The revocable letter of credit can be withdrawn by the opener (importer) or opening bank
(importer’s bank) at any time. The irrevocable letter of credit is just the opposite of revocable letter
of credit.
- Step 3: Receive and check the documents including
+ Drafts
+ Invoice (proforma invoice, provisional invoice, final invoice, detail invoice)
+Marine/Bill of lading (straight bill of lading, to order bill of lading, to bearer bill of lading,
clean bill of lading, unclean bill of lading, through bill of lading, direct bill of lading)
+ Packing slips
+ Certificate of origin

6
+ Insurance policy.
2.1.2. International money transfers:
Receive money via Western Union online
+ Customer can receive in VND or USD.
+ No limit number of transactions/amounts.
+ No tax income applied.
Outward remittance via account
+ Various outward remittance forms (via account message or bank-draft issuance)
+ You can send money abroad in various currencies and the beneficiary can receive in the convertible
currency or the local currency.
+ Individuals sending money outward for legitimate purposes: study abroad, medical treatment or for
family members living abroad, sending money to overseas, overseas business trips, immigration,
payment for fees and charges incurred abroad.
Multiple currency fund transfer
+ Fund transfer can be made in 130 different currencies
+ Attractive exchange rate.
+ Competitive tariff
+ Free consultancy.
+ Simple and quick procedures.

7
2.2. Photocopy, scanand imprint the documents.
After reviewing general knowledge in international payments, I start my works as supporting the office
in photocopying and scanning the documents including certificates and B/L files. By the way, I keep
contact with other departments such as transaction office, administrative office to collect the
certificates, records, file with the purpose of storage and using as documentation for the next
transactions in the future.
Apart from photocopying and scanning, I also support the manager inimprinting the documents which
had been checked by the manager before, which helps the transactions at international payments office
running more smother and faster.
2.3. Check the documents.
The first step of import payment based on letter of credit I have mentioned before is receiving L/C
opening application from customers. Our job is to contact with customers (including personal
customers and corporate customers). First, we instruct the customer what they need to do if they would
like to pay their import’s invoice by L/C. The customer must prove their capital to ensure that they
have ability to pay the invoice. And then, they will fill fully into the opening L/C application form.
After the bank have accepted opening L/C require form their customers, we will check their file to
ensure all of these components are valid. The file included:
- License for establishment of company
- Business registration certificate
- Foreign trade contract
- License for importing goods given by Ministry of Commercial
- Quota certificate
- License for importing and exporting code registration given by maritime authorities.

8
Depending on what type of L/C is, revocable or irrevocable L/C, there are different features in detail.
CHAPTER III. INTERNSHIP OUTCOME
3.1. Theoretical knowledge:
In the context of regional and global integration, international payment is one of the most significant
field and makes a huge contribution to the growth of economic. Therefore, understanding deeply and
widely about international payment will help us strengthen our career, not only for banker but also
other jobs.
The knowledge that I have learned about international payment at Techcombank – Long An branch is
amazing. I have a chance to broaden my horizons in professional environment.
I used to be taught about how to write corresponding passages such as commercial email and cover
letter when studying Writing 3 but have applied them to practical situation yet. By the way, I was also
introduced about the phrase “letter of credit” when studying the subject “English – Vietnamese
translation” at the 3rd year of university and the subject “Introduction to International Payments” at the
4th year of university. “Letter of credit” is the most commonly used definition in international
payments. Now, I can understand deeply not only its definition, but also its structure.
Moreover, apart from applying knowledge I have learned at university, I also achieve many new things
from this job. The most valuable thing is to know about the process of import payment based on letter
of credit.

9
3.2. Practical skills:
3.2.1. Time management skills
It is true that wasting time is equal to wasting life. In order to take control over our life and achieve our
goals, I think we need to have a proper schedule and time management. To be honest, time
management is not my strong trait and I am really not good at organizing time. Before I took the
internship, I always foundthat the only thing drives me was deadline. But when I am in this job, I must
make sure that everything is on time by planning out what I have to do for the whole week.
3.2.2. Communication skills
Communication skills are the ability to communicate effectively with superiors, colleagues, and staff is
essential, no matter what industry you work in. It cannot be denied that everyone needs communication
skills not only for their job, but also for their everyday life. I am an active person so I rarely get trouble
in communicating. But I must admit that communicating with superiors is very difficult, especially
when collecting documents or asking for their help. After finishing the 3-month internship course, my
communication skills improve tremendously.
3.2.3. Computer skills
As a banker, it is very important for everyone to be good at computer. During the course, I keep
practice on computer by using specific programs, such as Microsoft Office (Word, Excel), Microsoft
Outlook and Email. I can use a variation of formulas and functions in Excel or typing a text in Word
faster and more correctly. By the way, I was trained in the way of writing an email professionally.
3.2.4. Critical thinking skills
Critical thinking is the ability to think clearly and rationally about what to do or what to believe. It is a
very necessary skill for everyone in order to have a deep understanding of things in the challenging and
changing world. The job helps me examine everything from different angles.

10
3.2.5. Attention to detail
Bankers must be very careful in number because they have to deal witha range of numbers every day.
Checking documents at international payment office helps me be more meticulous and cautious.
3.3. Practical experience:
The 3-month internship course at Vietnam Technological and Commercial Joint Stock Bank
(TECHCOMBANK) – Long An branch gave me valuable experience. I have the opportunity to apply
the theory into practice and work in professional environment.At the beginning of the internship
course, I was anxious and stressed because international payment is not my major. There are too many
documents I must remember. I used to make a mistake when photocopying and scanning documents
because I have never used those machines before. Thank to dedicated instruction from my supervisor –
Ms. Nguyen Thi Kim Nhi, I got through hard times and changed my working style into more
professional style.
In addition, I learned how to be more active at work and expanded my relationship. I can withstand
pressures when dealing with many deadlines simultaneously. It will be a precious lesson to help me
more mature in my future career.
CHAPTER IV. CONCLUSION
During the course of internship atVietnam Technological and Commercial Joint Stock Bank
(TECHCOMBANK) – Long An branch, I have gained many skills and knowledge outside my syllabus
at university. Because my major is Business English, I have not deeply understood about the bank
operation, especially international payment. But when I took the internship at Techcombank, under the
guidance of excellent trainees, I have cultivated myself and recorded great achievement in working as a
banker.

11

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