SeABank receives Special Recognition Award 2024-2025 from Wells Fargo for excellence in international payments

As one of the leading banks in the United States, Wells Fargo plays a key role in the global payments system, particularly in processing and settling USD-denominated transactions thanks to its large asset base, strong processing capabilities, and deep integration with the international financial system. As a participant in key payment systems such as CHIPS and Fedwire, Wells Fargo performs clearing and settlement functions for a substantial volume of cross-border transactions. At the same time, through its extensive correspondent banking network, Wells Fargo provides critical payment infrastructure to financial institutions worldwide, particularly in markets without a direct presence, such as Vietnam. 

The Special Recognition Award is a prestigious award presented by Wells Fargo to banks and financial institutions worldwide that demonstrate outstanding performance in international payment operations, particularly in USD-denominated transactions. The evaluation is based on criteria such as straight-through processing (STP) rates, inquiry rates, and compliance with Wells Fargo’s stringent standards.

According to Wells Fargo’s customer service performance report, in the 2024–2025 period, SeABank recorded an STP rate of 99.89%, exceeding the national average (99.8%), regional average (98.9%), and global average (99.3%). Its inquiry rate stood at 0.5%, significantly lower than the national average (1.3%), regional average (1.5%), and global average (1.9%).

These figures highlight SeABank’s operational excellence, ensuring that both incoming and outgoing transactions are processed swiftly and accurately, thereby optimizing customer benefits. They also demonstrate the bank’s professionalism in international payments and serve as clear evidence of SeABank’s strong compliance with rigorous international banking standards.

With this award, SeABank further affirms its position as a leading bank in service quality for international payments, demonstrating superior transaction processing capabilities that drive greater operational and cost efficiencies for businesses.

Over its 32-year journey, SeABank has consistently put customer interests at first, continuously striving to enhance the accuracy and speed of its international payment transactions to best meet the needs of both corporate and individual customers. By prioritizing investments in technology, payment system modernization, and process standardization in line with international standards, SeABank’s international payment operations are expected to achieve strong growth in the years ahead.

In 2025, SeABank implemented a series of solutions, including: development of tailored credit packages, interest rate support programs, and preferential fee policies designed exclusively for FDI enterprises, import-export businesses, and women-owned enterprises; promotion of incentive schemes for new customers and those prioritizing online transactions. As a result, SeABank’s international payment operations recorded impressive growth, with the number of transactions and transaction value increasing by 31% and 204%, respectively, compared to 2024.