SeABank launches Online Guarantee feature, offering up to 100% fee waivers for Corporate Banking Customers

Southeast Asia Commercial Joint Stock Bank (SeABank) has launched a new Online Guarantee feature on its digital banking platform, SeANet (www.seanet.vn), marking another milestone in the Bank's ongoing digitalization of financial products and services for corporate customers.

The new solution is designed to support businesses requiring bank guarantees when participating in tenders, signing contracts, or conducting commercial transactions. Through the online platform, customers can submit guarantee issuance requests and complete related procedures without visiting a bank branch.

The Online Guarantee e-service currently supports a wide range of commonly used guarantee products, including bid bonds, performance bonds, advance payment guarantees, payment guarantees, warranty guarantees, and loan guarantees.

One of the key highlights of the solution is its optimized application processing and transaction authentication procedures. Customers only need to use a digital signature when submitting an application, while the approval process has been simplified to reduce processing time while maintaining high standards of security and transaction safety.

In addition, the system automatically suggests the required documentation for each type of guarantee, helping businesses prepare appropriate documents and minimize errors during the application process.

With the Online Guarantee feature, businesses can complete and submit their applications online in approximately 5 minutes. The fully digitalized process reduces the need for paper documents, saves storage time and costs, and simplifies administrative procedures.

Furthermore, the SeANet platform for corporate enables customers to track application status, access information, and manage guarantee facilities through a single platform, enhancing the efficiency of corporate financial management. 

Alongside the launch of the new feature, SeABank is offering preferential fees for online guarantee transactions through December 31, 2026. Specifically, customers using bid bond services can enjoy up to 100% waivers on issuance fees, amendment fees, non-standard guarantee fees, and fees for issuing guarantee letters in foreign languages or bilingual formats. For other guarantee products, including performance bonds, payment guarantees, and warranty guarantees, customers can receive fee discounts of up to 30%.

By digitalizing the guarantee issuance process, SeABank aims to help businesses save time, optimize operating costs, and enhance their ability to capture business opportunities amid the accelerating pace of digital transformation.