Since late March 2026, the service has been made widely available, allowing users to receive money from abroad with same-day crediting to their accounts. The rollout introduces an additional channel for cross-border transfers, simplifying processes that have traditionally relied on multiple intermediaries.
Cake GlobalX feature on the Cake mobile banking application. Photo courtesy of Cake |
Amid the growth of cross-border e-commerce, Vietnamese online sellers, content creators, and freelancers often face settlement delays of several days when receiving international payments, along with uncertainty around additional fees and exchange rate costs.
Cake GlobalX helps address these challenges by enabling users to register and receive account details within minutes, which can be linked directly to international e-commerce platforms, thereby reducing the need for multiple intermediaries. The service supports up to 10 foreign currencies, including USD, CAD, GBP, and EUR, and allows funds to be converted into Vietnamese dong on the same day.
Transaction fees start from $1.1 per transfer, depending on the currency. Users can manage transactions through the mobile application, which provides tools to track cash flow, review transaction history, and monitor balances.
The process is 100% online, with the aim of streamlining international transfers and improving cash flow management for users. The service has seen initial uptake among Vietnam’s digital business community following its launch.
Cake GlobalX is built on Cake’s digital banking infrastructure and integrates with the global payment network of Visa to support transaction processing and security.
The launch expands Cake’s range of services, which includes payment accounts, deposits, credit cards, consumer loans… international transfers and investment products within a single platform.
Nguyen Huu Quang, CEO of Cake, said the introduction of Cake GlobalX is intended to meet increasing demand for cross-border financial services among Vietnamese users and support the bank’s broader regional development plans.
Comments are closed.