How to open bank accounts in Vietnam for foreigners?

Opening a bank account in Vietnam as a foreigner is a relatively smooth process, particularly for those who live, work, or invest in the country. Both personal and business accounts are available, and many local and international banks offer English-speaking services. While requirements may vary slightly between banks, the general process is quite standardized.

Types of bank accounts available in Vietnam

• Personal accounts:
• Current accounts for daily transactions
• Savings accounts for interest accumulation (in VND or foreign currencies)
• Corporate accounts for registered companies, including foreign-owned entities

Requirements for personal bank accounts

• Valid passport
• Valid visa or temporary residence card (banks typically need a valid TRC or long-term visa and a local address; tourist visas are not accepted)
• Proof of address in Vietnam (must typically match the name and address on your visa or TRC)
• In some cases, a work permit or employment contract may be required
• Minimum deposit (depending on the bank)

Requirements for corporate bank accounts

• Business registration certificate
• Investment license (for foreign-invested companies)
• Company charter
• Passport and visa of the legal representative
• Board resolution authorizing account opening
• Additional KYC documents depending on the bank

Steps to open a bank account in Vietnam

• Choose a bank (e.g., Vietcombank, BIDV, Techcombank, HSBC, or Standard Chartered)
• Prepare the required documents
• Visit a branch in person to complete the application
• Submit the paperwork and fill out the necessary forms
• Deposit the initial amount if required
• Wait 1–3 business days for account activation