Thread: Foreigner Bank Accounts in Vietnam

I was wondering if there's any restrictions of Foreigner's acquiring a Vietnam Bank account?

What if any are the requirements?

Can a Foreigner hold a Foreign currency account?

Best Bank in Vietnam to utilize? (not European or USA)

Prefer responses from people who have or are currently living in Vietnam, not tourists.

Originally Posted by ltnt

I was wondering if there's any restrictions of Foreigner's acquiring a Vietnam Bank account?

What if any are the requirements?

Can a Foreigner hold a Foreign currency account?

Best Bank in Vietnam to utilize? (not European or USA)

Prefer responses from people who have or are currently living in Vietnam, not tourists.

Passport and an address for a USD account; that was seven years ago. Can recall the name of the bank, but it was in HCM City around the area where the buses from Cambodia have their final stop.

ANZ, standard chartered and HSBC provide banking in vietnam, last i heard needed to be working in vietnam to open a/c

I read somewhere that it's difficult now, but maybe it's like Thailand and depend on the branch.

I was surprised to read that it's easy to open a bank account in China with just a passport.

I can only confirm that, with a work-permit, it is very easy to open an account, with ATM card and transfer money wherever you want. BUT - the amount should be within the declared monthly income on your work-contract (i.e. what you pay PIT on). I have done this for the past five years with ANZ, a very helpful bank.

Without proper paperwork - I don't know now. All this paperwork has only been properly in place for the past four or five years, before that it was simpler, but the VN government has become far more efficient in dealing with expats lkately, which has mostly been a good thing.

So, there are no reliable Asian Banking concerns? ANZ: Aussie New Zealand Bank? As I said in the opening thread I'm looking for non-European or American Banks? China or Vietnam or even Thai in Saigon with Foreign currency accounts? That's what I'm after. Thanks Up2U.