How to Open a Bank Account for Foreigners in Vietnam - A Detailed Guide 2025

Vinex Official
Mar 10
2 min read

Opening a bank account in Vietnam is an essential step for foreigners to manage their finances effectively, conduct transactions conveniently, and minimize costs. In this article, we provide a step-by-step guide covering the process, requirements, and everything you need to know to open a bank account in Vietnam.

1. Can Foreigners Open a Bank Account in Vietnam?

Yes! According to Vietnamese law, foreigners residing, studying, or working in Vietnam can open a bank account as long as they meet the necessary conditions and follow the bank's procedures.

2. Benefits of Opening a Bank Account in Vietnam

Effective financial management: Helps track income, expenses, and savings.
Lower transaction costs: Reduces foreign exchange and withdrawal fees.
Convenient payments: Enables smooth transactions and bill payments.
Salary reception and fund transfers: Allows receiving salaries and making international transfers easily.

3. Requirements for Foreigners to Open a Bank Account

Age requirement: Must be 18 years or older.
Required documents:
- A valid passport.
- A valid visa or work permit.
- A temporary residence certificate (if applicable).

4. Steps to Open a Bank Account

Prepare necessary documents.
Submit documents at the bank’s service counter.
Bank verifies documents.
Receive account details.

5. Choosing the Right Bank

Local banks: Vietcombank, VietinBank, MB Bank, Techcombank.
International banks: HSBC, Standard Chartered.

6. Important Considerations When Opening a Bank Account

Service fees: Check maintenance and transaction fees.
Foreign currency policies: Understand international transaction features.
Transaction limits: Varies between banks, so verify according to your needs.

7. Vinex’s Bank Account Opening Support Services

Opening a bank account can be challenging for foreigners due to cultural, language, and legal differences. Vinex offers comprehensive consulting and support services: