Loc Phat Bank Hue branch staff support opening free account and guide on how to use it right at the payment point

Mrs. Hoang Thi Mong Thuy and Mr. Ho Xuan Can, Thuy Xuan Ward, Hue City, said that for the past 5 years, they have been receiving their pension in cash. Normally, the payment is scheduled on the 4th of every month, but during the months of storms and floods, they have to receive it later than the regulations. Specifically, this November, due to the impact of the flood, they were only able to receive it today. After waiting for a long time and receiving the money late, they decided to switch to receiving it through a bank account from next month.

Receiving pensions and social insurance benefits through bank accounts not only benefits beneficiaries, but also helps social insurance agencies reduce administrative costs, increase transparency and safety.

Recently, Hue City Social Insurance has proactively coordinated with the Post Office and local banks to implement programs to support the opening and maintenance of free accounts for social insurance beneficiaries. Employees who apply for one-time or long-term social insurance benefits are instructed to open accounts right at the application reception department or payment points, and ATM cards can be sent to their homes if requested.

A particularly noteworthy point is the cooperation model between Loc Phat Bank ( LPBank ) Hue branch and the City Post Office in implementing banking services at the payment point. Post office staff are given management accounts and users to support people. When beneficiaries register for an LPBank account, they only need to bring their citizen ID and phone to the payment point every month. Post office staff verify the information, transfer money to cash, OTP is sent to the recipient's phone, enter the correct code and the transaction is complete.

Ms. Quynh Huong, controller of Loc Phat Bank, Hue branch, said: “Withdrawing cash directly from bank accounts has brought many advantages to beneficiaries. This method helps maintain the habit of receiving cash every month, while avoiding having to access complicated technology, especially for the elderly. Beneficiaries also enjoy many benefits: they can withdraw money at any time of the month, regardless of the fixed payment schedule; no need to use ATM cards - very useful in areas without ATMs or in cases where the elderly forget their password and have to go to the bank to re-do it. In addition, beneficiaries can withdraw money many times a month depending on their needs, the balance in the account still enjoys interest according to regulations”.

When opening a bank account, the beneficiary's personal information is kept confidential and is entitled to preferential treatment from the bank that opened the account. For the elderly and those in poor health, they can authorize their children to receive benefits through their personal accounts according to the provisions of the Social Insurance Law 2024.

Mr. Hoang Trong Chinh, Deputy Director of the City Social Insurance, said: “The City Social Insurance has coordinated with units to promote propaganda and direct mobilization of beneficiaries so that they can see the practical benefits of receiving pensions and social insurance benefits through bank accounts. The most important thing now is to create favorable conditions to help beneficiaries maintain this form of payment long-term, stable and safe.”

According to statistics from Hue City Social Insurance, as of November 2025, the number of people receiving pensions and social insurance benefits in the form of non-cash payments in Hue City reached nearly 67%; the city's Social Insurance strives to have over 80% of beneficiaries receive them through bank accounts by the end of 2025.
Article and photos: Pham Thi Dung

Source: https://huengaynay.vn/chinh-tri-xa-hoi/an-sinh-xa-hoi/tien-ich-khi-chi-tra-luong-huu-khong-dung-tien-mat-159828.html