Yes, but the process depends on your visa status and which bank you choose

You can open a bank account in Vietnam as a foreigner, but the banks that will let you do it, and what documents they require, depend on whether you have a long-term visa or are visiting short-term. Most major Vietnamese banks—including Vietcombank, Techcombank, and BIDV—accept foreign account holders, but they treat tourists and residents differently. A tourist on a visitor visa may only be able to open a savings account at certain branches, while someone on a business or temporary residence visa can usually open a checking account with fewer restrictions.

The real barrier is not that banks refuse foreigners; it is that each bank has its own rules about which documents they accept and which visa types may have access to. You will need to visit a branch in person—banks do not open accounts remotely for foreigners—and bring your passport plus proof of address. What counts as proof of address varies by bank and by branch, so calling ahead or visiting in person before you gather documents saves time.

Key Takeaways

  • You must visit a bank branch in person with your passport; no bank opens accounts for foreigners online or by mail.
  • Long-term visa holders (business, temporary residence, or work visas) can open checking and savings accounts at most major banks; tourists on visitor visas face more restrictions and may only open savings accounts.
  • Proof of address is required and can be a rental agreement, utility bill, or hotel registration letter, but which documents each bank accepts varies by branch.
  • Processing takes one to three business days after you submit documents, and you will receive a debit card and passbook in person at the branch.
  • Monthly account maintenance fees range from zero to the equivalent of a few dollars depending on the bank and account type, and some banks waive fees for accounts above a minimum balance.

What documents you need based on your visa type

If you hold a long-term visa—business visa, temporary residence card, work permit, or investor visa—bring your passport, the visa or residence card itself, and proof of address. Proof of address can be a signed rental agreement from your landlord, a utility bill in your name, or a letter from your hotel or accommodation confirming your stay. Some banks also accept a letter from your employer stating your address. The bank will photocopy these documents and keep them on file.

If you are on a visitor visa or tourist visa, the process is narrower. Some banks will open a savings account but not a checking account. You still need your passport and proof of address, but the address requirement is sometimes waived if you provide a hotel registration letter or a letter from your accommodation. Call the branch before you go; not all branches handle tourist accounts, and policies vary between locations in the same city.

If you are a Vietnamese citizen living abroad and returning to open an account, bring your passport plus your Vietnamese ID card (CMND) if you have one. If you do not have a current ID card, bring your passport and any proof of previous Vietnamese residency.

Which banks accept foreigners and what to expect at each

Vietcombank (Vietnam Joint Stock Commercial Bank for Foreign Trade) is the largest and most foreigner-friendly. Most branches accept long-term visa holders without difficulty, and some accept tourists. Processing usually takes one to two business days. Minimum opening balance is typically 100,000 to 500,000 Vietnamese Dong (roughly $4 to $20 USD, though exchange rates vary). Monthly maintenance fees are low or zero for accounts above the minimum balance.

Techcombank and BIDV (Bank for Investment and Development of Vietnam) also accept foreign account holders, though Techcombank is stricter about visa requirements and prefers long-term residents. BIDV is more flexible with tourists. Both require similar documentation and have comparable processing times and minimum balances.

ACB (Asia Commercial Bank) and VPBank accept foreigners but are less consistent branch-to-branch. Call ahead to confirm the specific branch you plan to visit will open an account for your visa type.

Smaller or regional banks may refuse foreigners outright or require a Vietnamese guarantor. Stick with the major banks listed above unless you have a specific reason to use a smaller one.

The step-by-step process once you arrive at the bank

Walk into the branch during business hours (usually 8 a.m. to 5 p.m., Monday through Friday, with some Saturday hours). Tell the staff you want to open an account and ask which documents they need for your visa type. They will hand you an account opening form in Vietnamese and English. Fill it out with your name, passport number, date of birth, occupation, and address.

Hand over your passport, visa or residence card, and proof of address. The staff will photocopy these documents. You will then choose an account type—usually a savings account (tiết kiệm) or a checking account (thanh toán). Ask which one is right for your needs; most foreigners use savings accounts unless they need to receive regular salary deposits.

Deposit your opening balance (usually 100,000 to 500,000 Dong minimum, though some banks accept less). The teller will process the account, which takes 15 to 30 minutes if everything is in order. You will receive a debit card, a passbook, and a PIN number on the spot or within one to three business days. Some banks mail the card; others ask you to pick it up at the branch.

Proof of address: what works and what does not

A signed rental agreement from your landlord is the strongest proof. It should show your name, the property address, the rental period, and the landlord's signature. If your landlord will not provide a written agreement, ask them to write a simple letter on paper stating that you live at their address, sign it, and include their phone number.

A utility bill (electricity, water, or internet) in your name works at most banks, but it must be recent—usually within the last three months. If you just moved in, you may not have a utility bill yet.

A hotel registration letter or accommodation confirmation letter is accepted by most banks if you are staying short-term. Ask your hotel or Airbnb host to provide a letter on their letterhead stating your name, the address, and your stay dates. This works even for tourists.

A letter from your employer stating your work address and home address, signed by an authorized person, is accepted at most banks if you are working in Vietnam.

What does not work: a credit card statement, a bank statement from another country, a screenshot of a booking confirmation, or a lease agreement you printed from an online template without a landlord signature. Bring originals or certified photocopies, not digital copies on your phone.

Fees, minimum balances, and account maintenance

Most major banks charge no monthly maintenance fee if your account balance stays above a minimum—usually 100,000 to 1,000,000 Dong depending on the bank and account type. If your balance falls below the minimum, the bank may charge a monthly fee of 10,000 to 50,000 Dong (less than $3 USD). Some banks waive the fee entirely for the first year.

Debit card replacement costs 50,000 to 100,000 Dong if you lose the card or it expires. ATM withdrawals at your bank's machines are free; withdrawals at other banks' ATMs usually cost 5,000 to 10,000 Dong per transaction. International wire transfers into your account are free or cost a small fee (5,000 to 50,000 Dong); outgoing international transfers cost more, usually 100,000 to 500,000 Dong depending on the amount and destination.

Ask the bank for a fee schedule before you open the account. Policies vary between banks and sometimes between branches of the same bank.

What happens if your visa expires or you leave Vietnam

Your account does not close automatically when your visa expires. You can keep the account open indefinitely as long as you maintain the minimum balance and pay any applicable fees. The bank will not freeze it or ask you to close it.

If you leave Vietnam and do not plan to return, you can close the account by visiting a branch in person or, at some banks, by mail. Bring your debit card and passbook. The bank will return any remaining balance to you in cash or by wire transfer. If you cannot visit in person, call the bank and ask about their remote closure process; policies vary.

If you want to keep the account open while living abroad, you can. You can still receive wire transfers and use the debit card internationally, though some Vietnamese banks' cards have limits on overseas ATM withdrawals. Check with your bank about their international card policy before you leave.

Frequently Asked Questions

Can I open a bank account in Vietnam without a visa?

No. You must have a valid passport and a visa or residence permit. Tourists on visitor visas can open accounts at some banks, but you still need the visa in your passport. If your visa has expired, you cannot open an account until you renew it or obtain a new one.

Do I need a Vietnamese phone number to open an account?

Not to open the account, but most banks will ask for a phone number for account notifications and security purposes. You can provide a Vietnamese mobile number or an international number. If you do not have a Vietnamese number yet, ask the bank if you can add it later.

Can my employer or a Vietnamese friend open an account on my behalf?

No. Banks require the account holder to be present in person with their passport. You cannot authorize someone else to open the account for you, even with a power of attorney.

What if the bank rejects my proof of address?

Ask the staff which documents they will accept and give them time to check with their manager. If they still refuse, try a different branch of the same bank or a different bank. Policies vary, and another branch may accept your documents. Bring multiple forms of proof if possible—a rental agreement plus a utility bill is stronger than either one alone.

Can I use my account to receive salary payments from my employer?

Yes. Open a checking account (thanh toán) rather than a savings account, and provide your employer with your account number and bank name. Processing times for salary deposits vary by employer but are usually one to three business days. Ask your bank for your full account details in the correct format before you give them to your employer.