TrueMoney

Rating: 3.5	Downloads: 50,000,000+
Category: Finance	Offer by: True Money Co. Ltd.

TrueMoney is a digital payment and money transfer platform primarily serving the Southeast Asian market, particularly popular in Vietnam. It allows users to send and receive money instantly, pay bills, and manage transactions through a user-friendly mobile app. TrueMoney caters to individuals and small businesses needing efficient, accessible financial services for both personal and commercial use.

The app’s main strength lies in its speed and low-cost domestic transactions, making it an essential tool for everyday financial activities. TrueMoney offers a seamless way to handle finances, from splitting bills among friends to receiving salaries or payments from vendors. It provides a practical, localized alternative to international payment systems for users within its supported countries.

App Features

• Instant Money Transfer: Send funds to other TrueMoney users via phone number or ID in real-time with no transaction limits, significantly reducing the time spent compared to traditional bank transfers. This feature is especially useful for splitting restaurant bills or sending pocket money to family members abroad.
• Bill Payments & Top-ups: Pay for essential services like electricity, water, mobile phone credit, and internet bills with just one tap, offering a convenient alternative to visiting physical stores or using multiple apps. The system includes auto-billing options for recurring payments, saving users time and ensuring nothing is overlooked.
• TrueMoney QR Code: Generate a unique QR code for quick and secure payments at shops, markets, or online, streamlining transactions and minimizing errors associated with manual entry. This feature supports small vendors by enabling them to accept payments easily, promoting cashless transactions within local economies.
• Salary & Remittances: Receive salaries, freelance payments, or remittances directly into your TrueMoney wallet instantly from employers or family members, avoiding delays and complex banking processes. Users can then easily convert funds to bank accounts or use them for everyday purchases immediately.
• Financial Management Dashboard: Track your spending, view transaction history, and monitor account balance through an intuitive dashboard, helping users gain better control over their finances and set budgets. This tool includes basic expense categorization for improved financial awareness without requiring advanced accounting knowledge.
• International Money Transfer (Beta): Send money abroad with favorable exchange rates and competitive fees to several countries, simplifying cross-border transactions for expatriates, businesses, and frequent travelers. The feature includes compliance checks and secure payment methods, ensuring regulatory requirements are met while providing transparency throughout the transfer process.

Pros & Cons

Pros:

• Speedy Transactions
• User-Friendly Interface
• Low Domestic Fees
• Wide Usage in Southeast Asia

Cons:

• Less Global Reach
• Some Advanced Features Limited
• Dependent on Local Banking Partnerships
• Occasional Network Issues in Coverage Areas

Similar Apps

App Name	Highlights
Momo	Popular Vietnamese app with features like flash sales, integrated e-wallet, and extensive bill payments.
Viettel Money	Offers mobile recharge, utility payments (electricity, water), and person-to-person transfers with focus on Vietnamese market.
GrabPay	Integrated payments within Grab services, including food delivery, ride-hailing, and peer-to-peer transfers, expanding beyond core banking functions.

Frequently Asked Questions

Q: What are the limits for sending money via TrueMoney?
A: TrueMoney generally allows sending any amount for domestic transfers, but there are caps on the number of transactions and total value within a single day to prevent fraud. For international transfers, limits depend on the sending country, recipient country regulations, and user verification level.

Q: Can TrueMoney be used to receive salaries from employers outside Vietnam?
A: Yes, if your employer is part of the TrueMoney international transfer program, you can receive payments sent from overseas directly into your TrueMoney wallet. You might need to complete identity verification for this feature.

Q: What should I do if my transaction gets stuck?
A: If a transaction isn’t completing within the expected timeframe, try restarting the app and checking your internet connection first. For persistent issues, contact TrueMoney customer support directly through the app – they usually resolve pending transactions promptly, especially common issues like network errors or temporary service maintenance.

Q: Is TrueMoney available for business account management?
A: Currently, the standard TrueMoney app focuses on consumer services. However, TrueMoney has separate business solutions available for registered companies, including invoice generation, B2B payments, and merchant services. These require separate registration from the personal user account.

Q: Are there any transaction fees for sending money to someone in Vietnam?
A: Domestic transfers via TrueMoney typically cost very little or nothing at all, especially for friends and family. Sending to registered TrueMoney users often has zero transaction fees. For non-users or bank account deposits/withdrawals, minimal service fees may apply, which are clearly displayed before confirmation. Always verify the fee estimate in the transaction preview.

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