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ABC Money
Transactions, Inc
12019 garden grove blvd. suite 204
GARDEN GROVE, CA 92843
Our company
ABC Money
Transactions, Inc. is an international money service business with our Company
headquarters in Garden Grove, California.
ABC focuses on
providing inexpensive money transmitting and prepaid phone card service to our
customers and to small businesses. ABC Money Transactions provide
easy-and-fast money transmitting and prepaid phone card services to our
customers by offering a useful Website listing of over 50 established, reliable and
convenient offices located throughout the USA with responsive Customer Service.
ABC Money Transactions has grown dramatically since its founding in 1985.
Strategy
With the
growing reports of high cost, poor performance, insufficient customer service
and billing problems the public gets from other money service businesses.
ABC strives to be the most competitive money service business while maintaining
our quality assurance. For the fastest growing Vietnamese company with
competitive rates that cater to the Vietnamese community remember ABC Money
Transactions, Inc. ABC is a leading money service business for low cost
money transmitting and phone card services.
Customer Service
ABC knows that
good customer support and fast, reliable service are critical to its success
both in keeping its current customers and in attracting new customers. ABC
currently provides telephone and online customer support. Customers can
call our offices through their local number or our corporate headquarters
through our toll-free number. Customers can also e-mail their questions
and comments directly to our Customer Support address listed here on our
Website. Mostly we would like to invite you to stop by your local ABC
office.
Sales and Marketing
Our Company’s
marketing efforts have been geared towards generating positive referrals,
stimulating subscriber growth and retention by providing an exceptionally high
quality service to its customers. In addition to encouraging referrals
from our customers, the Company engages in local radio, television, newspapers,
magazine and outdoor advertising for each of our offices across the nation.
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A Vietnamese-American millionaire who started from zero
Businessman John Vu Trong Tai, CEO of ABC Money Transactions Inc., is a new face
in the American business world. We would like to point out the fact that he was
trained as an educator but he left his solemn teaching job to enter the
treacherous world of business and commerce, and he has succeeded. What factors
have helped him achieve success quickly in the financial business? This is a
good question that we hope will produce helpful answers, concerning John's
experience, for other overseas Vietnamese businessmen.
John Vu is an open-hearted man who does not hesitate to share his success with
other people. He wishes people to be successful like himself. Being mindful and
dedicated to his work, he is also considerate toward his employees, and he wants
to help his native country to advance and develop.
In the last seven years ABC Money Transactions Inc. has helped create benefits
for thousands of Vietnamese-Americans' relatives in Vietnam.
Following is an article about John Vu Trong Tai that is extracted from a book
about remarkable overseas Vietnamese, "The Pride of Vietnamese".
In 1975, after the April 30th events, Vu Trong Tai followed other refugees to
come to the U.S. alone. As his knowledge of English was just the two words "yes,
no" that he brought along from Guam to Fort Chaffee, and then to Syracuse, NY,
he was faced with difficulties to integrate into the American society, not to
mention other obstacles, such as American way of living and customs.
At first he had to do any kind of menial, backbreaking jobs to earn money to
attend college, such as a dishwasher, carpenter, and a job that few other
Vietnamese have heard of: mortuary guard.
Only two years later, in 1977, thanks to his efforts and the assistance of some
Jesuit priests, Vu Trong Tai graduated from LeMoyne College in Syracuse, NY.
He moved to Portland, OR, to accept the position of a teacher at Madison and
Franklin High Schools. In the summer, high school teachers had nothing to do;
therefore, some parents of his students helped him find a cleaning job in a
restaurant. With his reputation as a hard worker, the restaurant owner gave him
the same cleaning job at another restaurant. When the school year started again,
he went back to high school to teach in the day and continued to work as a
cleaner at night.
Seeing that this cleaning job was hard but the pay was quite good, he thought of
hiring some assistants. Thanks to his good reputation, the owner trusted him and
introduced him to other restaurants and some big hotels. During that time, the
waves of Vietnamese refugees coming to Portland were numerous. Tai thought of
helping his fellow countrymen by finding suitable jobs for them to work at
night, so that they could attend English classes during the day.
In 1980, when the business had progressed smoothly, he left the teaching job to
establish his company Tai's Services. He then concentrated his energy in the
development of his company on all aspects; at the same time, this effort also
helped many Vietnamese refugees in Portland and its suburban areas.
In just two years after establishing, Tai's Services employed more than 200
people and its revenue reached some million dollars a year.
Tai's achievement earned him the admiration from many people, and many
well-known American personalities have warmly praised him. In his letter to Tai,
Senator Bob Packwood wrote, "I would like to praise your successful business,
which has provided many jobs to other Vietnamese." The governor of Oregon,
Victor Atieh, wrote, "The extensive development of your company in a short time
was exceptional. From my own experience, I thought that hard work and
perseverance are the main causes of success. Mark Haroldsen, the author of
"Courage To Be Rich", used Tai as an example in his book.
Besides, in 1983, most American major American newspapers, the VOA, the BBC,
etc., interviewed him and wrote articles in which they praised his diligence and
exceptional success. They stressed the fact that he had started from empty
hands, leaving the respectable job of a teacher to flourish in a humble
business.
In the middle of 1983, with the encouragement of The Southeast Asian Indochina -
Tai started a new business: Logging. He hired about 100 jobless refugees.
By doing so he contributed to the development of the city, at the same time
helping those Vietnamese refugees who could hardly find jobs. Tai spent about
$300,000 to buy trucks, chain saws, raincoats, uniforms, machetes, tents, and
hammocks, etc. But that venture was a case of "man proposes. God disposes."
After only six months, most Vietnamese workers left their jobs, because they
could not endure the frequent heavy rains of the forest and mountains in the
Pacific Northwest region. The business declined; Tai's Services lost much money. Tai's
lawyer advised him to declare bankruptcy, but he said, "I should clear my debts.
It's not my nature to evade, to defraud." He sold all his properties to clear
some of the debts. He was empty-handed again.
With his solid determination and the enthusiasm of a young man, Tai was not so
dispirited that he would give up; on the contrary, he determined to start again
from zero. He returned to the cleaning job in restaurants and hotels. Within two
years he did not only clear all the debts but his company, Tai's Services had
also flourished beyond people's expectations. Once again, American media and
press warmly praised his admirable achievement. The Business Journal, in its
issue dated July 5, 1984, ran a full page of photos and the interview of John M.
Vjllaume, with the title, "Tai rejected bankruptcy and rode out the storm."
In 1993, the American press praised Tai again. "The Who's Who Magazine" chose
him as one of the leading American executives in 1993.
Recently, Tai also spent his scarce free time to write a book to give some
advice to like-minded people who also think like him:
"A well-done job will bring a well-to-do-life" (Vietnamese saying) and "There is
no bad profession but bad practitioners" (A French saying).
(This is the translation of an article in the book "Ve Vang Dan Viet" by Trong
Minh).
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HISTORY & BUSINESS
Founded
by Businessman : John Vu Trong Tai
 From
its initial inception in late 1995, ABC has progressed to become, in just seven
years, the leader among many in the money transmission business for overseas
Vietnamese in the USA to Vietnam. Overall growth in the money transmission
business from the USA to Vietnam has increased from $500M in 1992 to a figure in
excess of $3Bn in 2002. It continues to climb.
From a modest start through its first office in Atlanta, Georgia in 1995, its
gross monthly receipts totaled just $300,000. Today, just seven years later, it
has surpassed all of its longer established competitors to become an industry
leader with monthly gross receipts now exceeding $10M per month that are
generated from 30 offices located in 18 states in over 18,000 monthly
transactions. Most recently, another six offices have been opened now bringing
the total to 36 from which it is fully anticipated that gross receipts per month
will climb to over $12M per month in addition to the organic growth of the
longer established offices that have enjoyed growth rates ranging from 20% to
30% per year.
The successful establishment of a network of offices using a proven system of
recording, accountability and control has enabled the company to develop a very
accurate basis of cost control and break-even assessment. It is a well-proven
fact that, given the proper assessment of market conditions as to the Vietnamese
population in a given area, it takes about twelve to eighteen months for any one
office to reach break-even from start up at a cost of some $150,000 per office.
Such costs include office set up, furniture and equipment, partitioning,
advertising and promotion and twelve to eighteen months of fixed overheads which
average some $4,500 per month per office.
There is a strong preference today to open or to convert existing office
locations to inside shopping malls and supermarkets where there is already a
heavy concentration of shoppers who can more conveniently stop by an ABC office
to spend a few minutes arranging money transmission. There is also the aspect of
greater security when located within existing buildings like this as opposed to
an outside, independent stand alone office location.
Concurrently with the growth and expansion of offices and gross receipts in the
USA, the owner has also developed the most efficient and cost effective
distribution service in Vietnam that provides, for the most part, 24 hour
delivery of funds via GES to beneficiaries from time of receipt in the USA.
Moreover, a unique characteristic of GES service is that it hand-delivers funds
directly to the address of the beneficiary thus providing a safer and more
convenient means of payment to each of the beneficiaries as compared to other
competitor services that require them to collect sums remitted from a nominated
bank branch or office.
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