Opening a Bank Account in Vietnam

Find out how to go about opening a bank account in Vietnam: the documents needed and the process to expect...

Many companies in Vietnam have arrangements with particular banks for salary payments, so employees should check with their employer before opening a bank account.

To open a bank account in Vietnam customers need to be over 18 years old. Foreigners need to be able to provide a permanent residential address in Vietnam. It is impossible for non-residents to open a bank account before arrival.

The following documents should be taken to the chosen bank:

  • Passport (foreigners also need a valid visa)
  • Residency card
  • Work permit

The bank will then provide an application form so that the customer can choose the bank services required.

A bank account can be opened within a day, although it takes a further 3-5 days to receive the bank card. A deposit is also required (usually between VND 50,000 - 100,000).

It is also possible to set up an account online or by telephone although the process may take longer.

Useful Terminology

Vietnamese English
Tai khoan ngan hang Bank account
Tien da rut Cash withdrawal
The tin dung Credit card
So tien con lai Current amount
Ghi no Debit
Tien dat coc Deposit
Ky ten Signature