Opening a Vietnamese bank account as an expat is confusing. Forms are in Vietnamese, requirements change monthly, and most banks turn away foreigners. We handle the research, translation, and appointment so you get a working account in 5–7 business days.
Why You Need a Vietnamese Bank Account
- •Receiving salary or freelance payments
- •Paying rent (landlords expect bank transfers)
- •Paying utilities (electricity, water require direct debit)
- •Getting a local SIM card (requires bank verification)
- •Renting an apartment (many require proof of funds)
- •Renting a moto insurance policy
- •Tax filing (if self-employed or contractor)
Which Banks Accept Foreigners?
BIDV (Bank for Investment and Development)
- • Largest bank in Vietnam
- • Most expat-friendly
- • Branches: An Thuong, My Khe, Han River
- • Processing time: 3–5 business days
- • Monthly fee: $0 (if $100+ balance)
- • ⭐ Recommended for most expats
Vietcombank (Vietnam Commercial Bank)
- • Government-owned, very stable
- • More conservative on foreigner accounts
- • Better exchange rates on USD transfers
- • Processing time: 5–7 business days
- • Monthly fee: $0 (if $100+ balance)
Techcombank
- • Expat-friendly, English support
- • Higher monthly fees ($2–5)
- • Good for international transfers
- • Processing time: 2–3 business days
- • Best digital banking app
Documents You'll Need
Personal ID
- ✓ Passport (copy + original to verify)
- ✓ Temporary Residence Card (TRC) or entry stamp
Proof of Address
- ✓ Rental contract (notarized)
- ✓ OR proof of hotel booking (3+ nights)
- ✓ OR letter from landlord
Proof of Income (optional, but helpful)
- ✓ Employment letter from your company
- ✓ Freelance client invoice
- ✓ Bank statement from home country
Step-by-Step Process
Consultation (15 min)
We learn your situation, advise the best visa path, explain costs & timeline.
Document Collection (1–2 days)
We list all documents you need. You gather originals + photocopies.
Application & Translation (2–3 days)
We translate all forms to Vietnamese, fill out applications correctly.
Submission (1 day)
We submit to immigration office, get receipt + tracking number.
Processing (3–5 business days)
Bank verifies your background, checks with immigration, sets up online banking.
Activation (1 day)
Bank sends card via post (5–10 days). Temporary debit card at branch (instant).
Cost Breakdown
FAQ
Can I open a bank account on a tourist visa?▼
Not officially. Banks want either a TRC (Temporary Residence Card, $25, 1–3 months to get) or work permit. Tourist visas are risky; we recommend getting a 1-month TRC first.
I don't have a rental contract yet — what do I do?▼
Bring your hotel booking + ask the hotel for a letter stating your stay. Banks accept this temporarily.
I want to transfer money to a friend in Vietnam — how?▼
Once your account is open, you can transfer to any Vietnamese account instantly (0 fee). International transfers cost ~$15 and take 3–5 days.
What if my account gets locked or has issues?▼
We provide post-opening support. We'll help troubleshoot with the bank if needed.
Nam Tran
Relocation Specialist & Founder
Nam has helped 200+ expats settle in Da Nang since 2023.