Current background and suggested solutions to enhance non cash payments a case of agribank chuong my branch,graduation thesis

STATE BANK OF VIETNAM BANKING ACADEMY Faculty of Foreign Languages  GRADUATION THESIS CURRENT BACKGROUND AND SUGGESTED SOLUTIONS TO ENHANCE NON-CASH PAYMENTS A CASE OF AGRIBANK- CHUONG MY BRANCH Supervisor : Le Thi Minh Que (M.A) Student : Nguyen Thi Khanh Huyen Class : ATC.A- K12 Student ID : 12A7511080 Hanoi, May 2013 i DECLARATION I declare that this thesis is my own work and has not been submitted in any form for another degree or diploma at any university Information derived from published or unpublished work of others has been acknowledged in the text and a list of references is given Signature Ha Noi, May 2013 Nguyen Thi Khanh Huyen ATCA - K12 ii ABSTRACT Nowadays, non-cash payments contribute a significant role in economy development not only in Vietnam but also all over the world This study gives an insight into non- cash payments in Agribank- Chuong My branch by analyzing its annual reports and statistics The results show that the payment order, among the different non-cash payment forms, appears to be more popular to the customers mainly because of simple procedures and time saving The study also provides some solutions related to human resources, customer care, technology to enhance noncash payments in Agribank- Chuong My branch Key words: solutions, non-cash payments, Agribank- Chuong My branch Nguyen Thi Khanh Huyen ATCA - K12 iii ACKNOWLEDGEMENTS This thesis would not have been possible without the guidance, support and encouragement of many people In particular, I ought to thank two individuals stand out as they contributed significantly to the completion of this thesis First and foremost, I would like to thank Ms Le Thi Minh Que for her valuable guidance and support for my thesis She is always willing to listen, encourages discussion and displays a lot of patience when helping me conducting this study Ms Le Thi Minh Que is a wonderful mentor with professional knowledge and great sympathy The quest for my graduation thesis has certainly taught me many things and I believe it has also instilled many positive changes Hereby I want to give my special thanks to Ms Le Thi Minh Que Secondly, I would like to thank Ms Dang Thi Que, my wonderful mother who assisted me with the data analysis and its interpretation Ms Dang Thi Que is an excellent mentor for me, as I was trying to address the research questions through the data gathered via internet or bank sources Her clarify on data analysis and the suggestions she made ultimately resulted in improving my thesis, and for this I am grateful to Ms Dang Thi Que Last, but not least, I would like to thank the staff of Agribank- Chuong My branch who supported me enthusiastically during my internship and provided me with valuable information about non- cash payments Nguyen Thi Khanh Huyen ATCA - K12 iv TABLE OF CONTENTS DECLARATION i ABSTRACT ii ACKNOWLEDGEMENTS iii TABLE OF CONTENTS iv LIST OF ABBREVIATIONS vii LIST OF GRAPHS AND TABLES viii CHAPTER I INTRODUCTION .1 Rationale Research Purposes Scope and Subject of the Study Research Methods Research Questions Research Structure CHAPTER II OVERVIEW OF NON- CASH PAYMENTS IN VIETNAM AND IN THE WORLD .4 2.1 Overview of Non- Cash Payments 2.1.1 Definitions and Characteristics of Non- Cash Payments 2.1.2 Roles of Non- Cash Payments in the Market Economy .5 2.1.3 Main Forms of Non- Cash Payments 2.1.3.1 Check/ Cheque 2.1.3.2 Standing Order/ Payment Order 2.1.3.3 Collection Order Nguyen Thi Khanh Huyen ATCA - K12 v 2.1.3.4 Letter of Credit/ Documentary Credit 10 2.1.3.5 Bank Card 12 2.2 Background of Non- Cash Payments in Vietnam and in the World 14 2.2.1 Background of Non- Cash Payments in the World 14 2.2.2 Background of Non- Cash Payments in Vietnam .15 CHAPTER III CURRENT BACKGROUND OF NON- CASH PAYMENTS IN AGRIBANK – CHUONG MY BRANCH 18 3.1 History and Development of Agribank- Chuong My Branch 18 3.1.1 Foundations and Developments of Agribank- Chuong My Branch 18 3.1.2 Organizational Structure of Agribank- Chuong My Branch 20 3.2 Current Background of Non- Cash Payments in Agribank-Chuong My Branch 21 3.2.1 Contribution of Payment Activities to Total Service Income in Chuong My Branch 21 3.2.2 Sales of Non- Cash Payments in Chuong My Branch (2010-2012) 23 3.2.2.1 Sales of Payments by Payment Order 24 3.2.2.2 Sales of Payments by Bank Cards 25 3.2.2.3 Sales of Payments by L/C .27 3.2.2.4 Sales of Payments by Cheque and Collection Order 28 3.3 Achievements and Limitations of Non- Cash Payments in Chuong My Branch 30 3.3.1 Achievements .30 3.3.2 Limitations and Causes .31 3.3.2.1 Limitations 31 3.3.2.2 Causes 31 Nguyen Thi Khanh Huyen ATCA - K12 vi CHAPTER IV SUGGESTED SOLUTIONS TO ENHANCE NON- CASH PAYMENTS IN AGRIBANK- CHUONG MY BRANCH 33 4.1 Perfecting the System of Non-Cash Payments 33 4.2 Improving Effectiveness in Marketing and Advertisement of Products 34 4.3 Improving the Quality of Customer Care 35 4.5 Accelerating Modernization of Banking Technologies, Renovation of Payment Techniques and Technologies 37 4.6 Suggested Solutions to Main Payment Forms 38 4.6.1 Payment by Payment Order 38 4.6.2 Payments by Bank Cards 38 4.6.3 Payments by L/C 38 4.6.4 Payment by Cheque 39 4.6.5 Payment by Collection Order .39 CHAPTER V CONCLUSIONS 40 5.1 Conclusions 40 5.2 Limitations and Suggestions for Further Study 41 LIST OF REFERENCES Nguyen Thi Khanh Huyen ATCA - K12 vii LIST OF ABBREVIATIONS Agribank Vietnam Bank for Agriculture and Rural Development SBV State Bank of Vietnam B/E Bill of Exchange L/C Letter of Credit DC Documentary Credit ATMs Automatic Teller Machineries POS Points of Sale IT Information Technology GDP Gross Domestic Product E- payment Electronic Payment IPCAS Intra Payment and Customer Accounting System SMEs Small and Medium Enterprises SMSbanking Nguyen Thi Khanh Huyen Short Message Service- Banking ATCA - K12 viii LIST OF GRAPHS AND TABLES Page Figure 1: Cheque operation process……………………………………………… Figure 2: Standing order operation process……………………………………… Figure 3: Collection order operation process…………………………………… 10 Figure 4: L/C operation process………………………………………………… 11 Figure 5: Bank card operation process…………………………………………… 13 Figure 6: Organizational structure of Agribank- Chuong My branch…………… 20 Figure 7: Contribution of payment activities to total service income of Chuong My branch………………………………………………………… 22 Table 1: Sales of non- cash payments in Chuong My branch (2010-2012)……… 23 Table 2: Sales of payments by Payment order in Chuong My branch (2010-2012)……… 24 Figure 8: Sales of payments by Bank cards in Chuong My branch (2010-2012).……… 25 Figure 9: Number of customers using Mobile banking services in Chuong My Branch (2010-2012)…………………………………………… 26 Figure 10: Sales of payments by L/C in Chuong My branch (2010-2012)……… 27 Figure 11: Sales of payments by Cheque in Chuong My branch (2010-2012)…………28 Figure 12: Sales of payments by Collection order in Chuong My branch (2010-2012)…… 29 Nguyen Thi Khanh Huyen ATCA - K12 CHAPTER I INTRODUCTION Rationale “An economy cannot grow if its banking system is not developed Commercial banks’ growth is a necessary condition for an economy to stably develop”, Nguyen Van Binhthe governor of State Bank of Vietnam stated in a meeting with representatives of commercial banks in June, 2012 After nearly two decades of renovation, Vietnam's economy has achieved critical success; the structure of economy has been shifted towards industrialization and modernization Along with these improvements, commercial banks have increasingly affirmed its important role in promoting economy’s development In addition, the role of commercial banks to economy can be seen through its payment intermediary function, especially the operation of non- cash payments Facts have shown that non-cash payment method increasingly dominates the market thanks to its superior benefits, and makes great contributions to economy development In comparison with cash payment method, non- cash payment method brings many advantages for banks, customers and Government The development of non- cash payments via banks not only creates the foundation for improving activities of banking business, but also helps the State manage a macro effectively, especially in the process of international economic integration Furthermore, the providers of non-cash payment services are mainly commercial banks, so banks play an increasingly important role in economy Dr Nguyen Duc Thanh, Center for Economic Research and Policy, Hanoi National University, mentioned in a talk with students of Hanoi National University in December, 2012: “Today, banking industry is considered as the backbone, the lifeblood of economy, contributing to the country's economic growth” Thus, the banking sector has put more weight on enhancing institutional mechanisms as well as business activities, including the operating of noncash payments Nguyen Thi Khanh Huyen ATCA - K12 29 At the first glance, payments by cheque were commonly used by domestic enterprises and individuals rather than foreign enterprises and individuals In particular, domestic customers received the highest amount of sales with the figures being at over 21,000 million in 2010, reached a peak at 80,000 million in 2012 after showing a slightly increase in 2011 Follow an opposing pattern; the sales of payments by cheques used by foreign customers hold insignificant figures The reason for that situation was domestic enterprises usually paid in bulk Thus, using cheques helped payments safer and quicker For local people, they often paid in hand with smaller volume, and were concerned with banking procedures On the whole, despite suffering the negative effects caused by global crisis, the number of payments by cheque has continuously increased in recent years Therefore, cheques gradually attract more customers thanks to its benefits Figure 12: Sales of payments by Collection order in Chuong My branch (2010-2012) (Source: Annual Report of Agribank- Chuong My Branch 2010-2012) (Unit: Thousand USD) Sales of payments by Collection order in Chuong My branch (2010-2012) 900 830 800 702 728 700 600 467 500 400 429 309 300 200 100 2010 2011 Sales of export payments Nguyen Thi Khanh Huyen 2012 Sales of import payments ATCA - K12 30 The figure 12 illustrates the sales of export payments and import payments by collection order in Chuong My branch from 2010 to 2012 It is obvious that the sales of export payments were always higher than that of import payments, except for the year 2010 While the sales of export payments showed an upward trend from 300 thousand USD in 2010 to over 800 thousand USD in 2012, the sales of import payments followed an opposite trend and hatted a low of 400 thousand USD in 2011 In fact, collection is not used much in many commercial banks including Agribank because of its unpopularity Furthermore, Chuong My is a small district, in which enterprises mainly export bamboo and rattan to the neighboring countries and Europe, which leads to the higher proportion in the sales of export payments 3.3 Achievements and Limitations of Non- Cash Payments in Chuong My Branch 3.3.1 Achievements In recent years, despite facing with vibrant economy and fierce competition of other organizations in local area, Chuong My branch has been gradually confirming its position and role in economy Thanks to the director and officers’ determinations, the branch has overcome initial difficulties and challenges to take activeness in integrating into the market economy and to fulfill the given tasks to develop economy Furthermore, being awareness of the importance of non-cash payments in the changing economy market, Agribank – Chuong My branch has actively invested in modernization of equipment and application of information technology to facilitate payments via bank As the result, basically modernized payment facilities help the noncash payments quicker and more convenient Payment activities of the branch are increasingly attracting customers to open accounts and transact at the branch The arising transactions are accounted timely and accurately Moreover, due to the strict rules on implementing payment procedures and documents, the branch has been trusted by customers Nguyen Thi Khanh Huyen ATCA - K12 31 3.3.2 Limitations and Causes 3.3.2.1 Limitations The list of payment methods is not varied and plentiful: the branch’s payments are limited to some types In particular, payment order make up over 60% meanwhile the other types of payments are not exploited comprehensively It is the general limitation of all existing commercial banks, even Agribank- Chuong My branch In addition, the scope of non-cash payments is extended to some certain objects except for large traders and high-income people They are mainly state-owned enterprises, government agencies The private sector is almost beyond non-cash payments although it is a potential and large market, making up 70% of the national income, etc Most of the population is unaware of necessary demands and benefits of non-cash payments Last but not least, Chuong My branch always have to make indirect payments and set-off with other banks via Agribank-Hanoi because it is a dependent accounting unit There are still some professional shortcomings such as: failures of computer system, ATMs, information loss, swallowed card, ineffective marketing and so on 3.3.2.2 Causes Subjective causes: The first subjective cause is the branch’s marketing strategies In fact, the marketing activities of the branch have not been considered as a strategy to attract customers and market research The branch has not established one department specialized on marketing and clients’ classification, causing difficulties in expansion of the network In addition, the incomplete infrastructure and technology is another cause which obstructs the payment process In Chuong My branch, many devices are old, outdated and little interested to be supplemented and developing It is also the common situation of entire Agribank system due to difficulties in seeking investors Furthermore, the professional knowledge and skills of the bank officers and staff are not uniform Its business expansion in local area causes shortage of experienced personnel, and difficulties in payment process in short term Nguyen Thi Khanh Huyen ATCA - K12 32 Objective causes: Facts have shown that payments are mostly affected by habits and awareness of customers Payments and spending in cash has deeply rooted into habits and perceptions of people, whether those are low income or high income people In addition, most of people, especially business households, small businesses, civil servants and officers are afraid of complicated procedures of banks Large companies only use one or two payment instruments under their habit instead of selecting suitable type of payments to their specific economic relations Moreover, commercial banks delay linking consistent payment systems, causing difficulties and inconvenience to the clients in opening their plenty of accounts in varied banks In addition, the lack of uniform in system of POS has been also a great obstacle to the progress of expansion of non-cash payment transactions in Chuong My branch Besides, the unsecured legal environment is considered as another objective cause The current legal system has insufficiently created legal framework for the payment systems In fact, a number of specific provisions for the non-cash payments are not consistent with the requirements of economic development Nguyen Thi Khanh Huyen ATCA - K12 33 CHAPTER IV SUGGESTED SOLUTIONS TO ENHANCE NON- CASH PAYMENTS IN AGRIBANK- CHUONG MY BRANCH Based on current background of non- cash payments, Chuong My branch has achieved initial successes; however, besides these achievements, the quality of non-cash payments in the branch has not been actually effective To overcome the shortcomings mentioned in the period chapter, there are some suggested solutions to enhancing noncash payments in Agribank – Chuong My branch: 4.1 Perfecting the System of Non-Cash Payments  Reducing payment costs: expense of any payment is related to cash expense and opportunity cost incurred by non-cash payments’ users Therefore, reducing payment costs will stimulate demand for payment via banks of all businesses, organizations and individuals  Accurate, safe and stable payment process: payment systems via banks must be accurate, safe and stable because it is the basic requirement to make customers trust in and use non-cash payments via banks At the same time it is also obligatory requirements for commercial transactions and services in the economy On the other hand, accurate, safe and stable payment may help banks and customers control funds in payments to avoid possible risks  Quick payment time: payment time is paid with special attention by payment subjects because it impacts directly on business, production, management ability and effective usage of capitals Any late paid amount may cause major loss and damage to the payers or payment receivers due to the volatility of exchange rates and prices in the market Therefore, non-cash payments must be quick and stable to facilitate the payment subjects to control and use their capitals effectively Nguyen Thi Khanh Huyen ATCA - K12 34  Open payment system: based on modern information technology, payment system must be designed to be an open system to facilitate banks, payment service providers, businesses, organizations and individuals to carry out direct payments in the national or international network 4.2 Improving Effectiveness in Marketing and Advertisement of Products Nowadays, advertising plays a significant role in the market economy In order to dominate the market, promotional activities are very vital to every product At present, banks promote their products in various forms such as newspapers, television, radio, banners, posters, sending direct email, internet, etc The advertisement contents focus mainly on convenience and advantages of the non-cash payment products, payment conditions and their competitiveness In addition, advertising campaigns, promotion programs, bonuses offer practical benefits to clients and attract them, securing actual effectiveness in expanding non-cash payments Indeed, the convenience and benefits of payments via banks are very large, but customers-those who benefit most from these services have not really approached and exploited them fully The customers have little chance to approach such information due to its restrictions on marketing work If the branch provides additional information on such advantages and associated facilities via consultations to clients who open accounts in the branch, or provision of such information on brochure and other media, clients are stimulated further to use associated services in order to increase revenue of the branch from the supplementary services In addition to advertising through the mass media, the branch is advised to launch the strategies on the network expansion, expand more customers, establish marketing department to access the market to fully collect and analyze the market information in order to classify customers, to learn and understand the customer needs, creating additional products and services to meet their demands Nguyen Thi Khanh Huyen ATCA - K12 35 The branch can also promote its image, brand to approach customers closer by sponsoring events, participating into the social activities of the community such as gratitude movement, the charity, etc and considering them as the responsibility of the branch Besides, the investment in expanding product and service distribution channels is a way to promote, introduce the image, working style, as well as the development of bank This is also a part of the communication and promotion of its brand 4.3 Improving the Quality of Customer Care Customer care is to serve customers in the way they want and necessary activities to remain the existing customers A key element in the customer care strategy is to understand psychology and desires of customers via research and communication with customers To make this work well, the branch needs to pay attention to the following issues such as:  The branch has to construct a strategy of customer care in line with non-cash payments and business development strategy in each geographical location, satisfactory to the psychology and culture of clients  The branch needs to have suitable customer care policies to each object such as VIP customers, standard clients, common customers, traditional customers, etc  In addition to direct customer care methods, it is necessary to pay attention to indirect methods of customer care through the media in order to satisfy the increasingly higher demand of customers and making them please and feel to be thoughtfully cared In particular, the bank should offer suitable gifts to each customer on the occasion of holidays, New Year’s days, birthdays, etc  Regular communication with customers in any form, parallel or mixed implementation, such as client conferences, promotional programs, product introductions, organizing polls, surveys on customers’ needs, setting up a hotline, etc The bank is able to supply the information on products, services, handling customers’ requests in connection Nguyen Thi Khanh Huyen ATCA - K12 36 to the bank's activities via communication activities The bank has to store sufficient information about customers in order to facilitate the communication with the customers  Handling customers’ complaints promptly and quickly Handling customers’ complaints is as an opportunity to modify and improve the process of delivering products, services to make customers satisfy and trust in the bank At the same time, it may limit the spread of bad information due to unresolved customers’ complaints  Customer -care staffs are not only necessarily knowledgeable, qualified but also communicative, friendly and well listening in direct or indirect transactions with clients  Customer -care staffs are not permitted to neglect or omit any procedure and regulations in the process of communication and care to traditional clients 4.4 Improving the Quality of Human Resources To develop business activities of the branch from time to time, it has to regularly pay attentions to suitable strategies on human resource development from recruitment to work arrangement, assignment, training and re-training bank staffs The branch should determine the appropriate policies on training human resources to create strong internal resources to develop the branch in general and promote payments in particular The qualified payment staffs must have thorough grasp of banking skills and knowledge, payment regulations and process of each payment form To facilitate noncash payments to work well, the branch should issue solutions to own credit officers, such as:  Improving quality of recruitment: recruiting personnel with suitable professional qualifications, personality, ethics, and work experience is essential Recruitment must be active, governed by specific action plan closely associated with construction of attractive benefit policies to personnel in order to attract talented, experienced human resources to work for Agribank  Promotion of training and re-training - 100% newly recruited employees are provided with consistent training programs It is advised to avoid the form of “passing” training It is necessary to supplement Nguyen Thi Khanh Huyen ATCA - K12 37 practical contents, experience, skills in the works into theoretical contents to facilitate the trainees to promptly catch up with the work after the trainings - Regularly organizing training sessions for officers and staffs to convey new policies, new issues of the bank and the relevant external agencies to ensure that every employee is fully aware of contents and able to apply them consistently - Organizing professional tests, contests on excellent profession to stimulate sense of acquisition, then improving and evaluating officers’ qualifications in order to design suitable training and re-training programs - Enhancing education on qualification, professional ethics and raising sense of responsibility of bank officers and staffs  Proper benefit policies: the branch has to apply suitable benefit policies to its employees to avoid the situation of brain drain In addition, it has to create a healthy working environment to facilitate employees to develop all of their abilities to work for the bank in long-time 4.5 Accelerating Modernization of Banking Technologies, Renovation of Payment Techniques and Technologies Facts have shown that banking services are highly homogeneous so the importance here is that the bank that makes difference in the services with high convenience it may have more competitive advantages It is required to apply modern technologies to modern services In the strong development of the current payment technologies and strong application of technologies in all fields, should any bank fail to catch up with technologies, it shall be removed from the game In particular, only minor mistake in payments may lose customers’ faith in long term Therefore, it is necessary to improve the speed of information transmission line, develop IT department, and promote SMSbanking, phone-banking, internet-banking and so on to make sure the payments to be operated on a regular basis Nguyen Thi Khanh Huyen ATCA - K12 38 The development of information technology must be linked to the customers’ needs because it is their interest The inter-bank payment system must be consolidated and completed because the system automatically handles electronic arising payments, setoff among the different banks throughout the nation, which may help the payment process safe, quick and timely 4.6 Suggested Solutions to Main Payment Forms 4.6.1 Payment by Payment Order Payment by payment order in the branch is the largest used form in terms of revenue However, clients always prefer to use payment order for the transactions in connection to large revenue and in remote distances The branch should apply the form of payment order to the stable and regular payments such as tax payment, insurance payment, and electric bill payment and so on to make clients, creditors and payment subjects convenient 4.6.2 Payments by Bank Cards The branch should enhance ATMs and POS to meet varied requirements on convenience of cardholders In addition, it should strengthen the links with the other banks to promote the card market in general in Vietnam Besides the expansion of POS, the branch should pay more attention to modernizing card technologies Payment cards in the branch are mainly magnetic technology which is simple in manufacturing, cheap price but easy penetration Therefore, the branch should change it into electronic cards to secure safety in payment for the card owners and card issuing bank 4.6.3 Payments by L/C L/C is a strict and relatively complicated payment procedure type that not all of business or client is able to be fully aware Therefore, in order to promote payments via banks in import and export field, the branch should have specific route-map to Nguyen Thi Khanh Huyen ATCA - K12 39 communicate with clients, especially those specialized on import and export in large scale to guide them in details and to provide special preferential to them 4.6.4 Payment by Cheque Currently, although cheque procedure is simple but the buyers are often very cautious as using transferable cheque because the issuers shall be fined if issuing cheque exceeding the balance To overcome this disadvantage, the branch should allow customers to have debit balance or issue cheque with larger debit balances in the interest rate in short term The interest time is since the branch pays the exceeding outstanding amount to the beneficiary The clients have to incur very high interest rate but it seems to be much better than issue of exceeding outstanding balance and the fines against late payment 4.6.5 Payment by Collection Order The type of payment via collection order is profitable to service suppliers in a case everyone opens account in the bank Therefore, procedures on payment by collection order must be simplified, Nguyen Thi Khanh Huyen understandable and convenient for customers ATCA - K12 40 CHAPTER V CONCLUSIONS 5.1 Conclusions “Boosting non-cash payment would reduce money in circulation as well as help monetary policies of the SBV are implemented better” pointed out by Mr Vu Viet Ngoan, Head of National Finance Supervision Committee There is no doubt that payment is one of the most important functions of banks, having the positive impacts on the cash flow of economy, contributing significantly to the development and integration of economy Therefore, constantly expanding the range and quality of payments, especially non-cash payments, is the leading responsibility of the banking sector in the process of economy development and integration The current study revealed some significant findings First, of different forms of non-cash payments, Payment order seems to be the most popular method to customers because of various reasons: simple procedures, time saving and ability to transfer funds in the same or different banking systems Second, besides some initial successes in developing non-cash payments that Agribank-Chuong My branch has consistently achieved including increasing capital flows, reducing idle capital of enterprises and being easy to control the monetary circulation, the lack of facilities, the shortage of professional marketing employees and business strategies have prevented the non-cash payment procedures from getting closer to the enterprises and individuals More importantly, the present study has provided some solutions to develop non-cash payment system in Agribank-Chuong My branch by improving the effectiveness in marketing and advertising of the products and services, the quality of customer care and human resources In addition, accelerating modernization of banking technology, renovation of payments techniques and technologies also should be taken into consideration Nguyen Thi Khanh Huyen ATCA - K12 41 5.2 Limitations and Suggestions for Further Study This study has revealed some significant findings related to non- cash payments of Agribank-Chuong My branch that were mentioned above However, there are still some limitations as follows: First, with limited sources collected mainly from Annual reports in a short period of time (2010- 2012) of Agribank-Chuong My branch, the study just focuses on analyzing the data in those years without mentioning and interpreting statistics or results from previous and up-to-date reports of the branch to compare and contrast for detailed and more significant analysis Second, the present paper was conducted within a limited time and it only gives insights into non-cash payments in Agribank- Chuong My branch It just mentioned the main forms of non- cash payments of this branch (payment order, bank cards, L/C, cheques, collection order) without covering the specific non-cash payment methods or the whole non-cash payment system of Agribank So, applying the research results for the whole system should be carefully considered As the limitations stated above, further studies should conduct deeper research on different forms of non-cash payment applying in both local and global banking system to have a general overview and better solutions for promoting these payment methods in any particular branch Nguyen Thi Khanh Huyen ATCA - K12 LIST OF REFERENCES Agribank- Chuong My Branch (2010) Annual Report Agribank- Chuong My Branch (2011) Annual Report Agribank- Chuong My Branch (2012) Annual Report Agribank- Chuong My branch (2012) Organizational structure Dinh, D.T and Nguyen, H.T (2011) “Giáo trình kế tốn ngân hàng” Statistic Publication Frederic S.Mishkin (2001) “Banking Monetary and Financial Market” Law on Các công cụ chuyển nhượng Nước CHXHCN Việt Nam Amended (2005) Ministry of Finace “Củng cố môi trường pháp lý chế sách cho việc trả lương qua tài khoản”.Accessed on 10 April, 2013 URL:http://www.mof.gov.vn “Non-cash Payments” Accessed on April, 2013 www.businessdictionary.com “Non-cash Payments”.Accessed on April,2013 URL: http://encyclopedia2.thefreedictionary.com/Noncash+Payments Nguyen,T.T.H and Vu, T.T.(2005) “Giáo trình kế tốn ngân hàng” Statistic Publication Nguyen,V.T.(2010) “Giáo trình tốn quốc tế” Statistic Pucblication The Gorvernment Nghị định 64/2001/NĐ- CP toán qua tổ chức cung ứng dịch vụ toán Amended (1999) SBV Law, Credit Institutions Law Law on Thanh toán qua ngân hàng Amended (1997) State Bank of Vietnam “Quyết định 371/QĐ- NHNN quy chế phát hành toán thẻ ngân hàng” Amended (1999) Nguyen Thi Khanh Huyen ATCA - K12 State Bank of Vietnam “Quyết định 226/2002/QĐ-NHNN việc ban hành quy chế hoạt động toán qua tổ chức cung ứng dịch vụ toán” Amended (2002) State Bank of Vietnam “Quyết định 30/2006/QĐ-NHNN quy chế cung ứng sử dụng Séc” Amended (2006) “Standing order” Accessed on April,2013 URL: http://dictionary.cambridge.org/dictionary/british/standing-order The European Financial Management and Marketing Association (2012) World Payments Report Unknown.“Ngân hàng Thương Mại” Retrieved on 25 April,2013 URL:http://www.wattpad.com/592817-ngan-hang-thuong-mai_bvt?p=47 Unknown “the 8th annual world payments report 2012” Retrieved on May,2013 URL: http://www.capgemini.com/resources/the-8th-annual-world-payments-report-2012 Unknown “Một số định hướng việc phát triển tốn khơng dùng tiền mặt” Retrieved on 10 May,2013 URL: http://www.sbv.gov.vn Unknown “History and Development of Agribank” Accessed on 10 May, 2013 URL: http://www.agribank.com.vn Nguyen Thi Khanh Huyen ATCA - K12