💰Finances & Banking

How to Open a Bank Account in Vietnam as a Foreigner (2025)

Which banks accept foreigners, what documents you need, whether a tourist visa is enough, ATM fees, and the Wise + VPBank strategy that most expats use.

8 min read

Updated March 2026

In this guide

Do you actually need a local account?Which banks accept foreigners?Documents required How to open an account ATM fees & limits Wise & Revolut in Vietnam Sending money home Biometric banking requirement

Updated March 2026Reflects 2025 State Bank biometric regulations

Opening a local bank account in Vietnam makes daily life much easier — lower ATM fees, easier bill payments, receiving VND salary, and faster local transfers. But the process varies significantly depending on your visa type. Here's what actually works in 2025–2026.

Do You Actually Need a Local Account?

For the first few weeks, no. A Wise or Revolut card works at Vietnamese ATMs with minimal fees and covers most expenses. Many long-term expats use this combination indefinitely.

You'll want a local VND account when you need to:

Receive a local salary in VND
Pay rent via bank transfer (most landlords prefer this)
Set up recurring payments (utilities, phone bills)
Open a savings account to earn interest on VND holdings
Apply for a Temporary Residence Card (banks often ask to see a TRC, and having an account helps)

Which Banks Accept Foreigners?

Bank	Accepts tourist/e-visa?	Min. requirement	Notes
VPBank	✅ Yes	E-visa accepted	Best for new arrivals. No ATM fee for foreign cards. 10M VND/withdrawal limit.
BIDV	⚠️ Sometimes	E-visa (branch-dependent)	State-owned, wide network. Policy varies by branch — call ahead.
Timo (BVBank)	✅ Yes	Tourist visa accepted	Digital bank. Account tied to your visa — update when you renew. Will close if visa lapses.
TPBank / MB Bank	⚠️ Limited	Long-stay visa preferred	Good English app. Branch policy varies.
ACB	⚠️ Case-by-case	Sometimes tourist visa	No ATM fee for foreign cards but low 3M VND/transaction limit.
Techcombank	❌ No	Work permit + TRC	Requires work permit, labor contract, and visa/TRC. Popular for expats with full documentation.
Vietcombank	❌ No	12-month residence validity	State Bank regulation change since 2025. No longer accepts tourist visa holders.
HSBC	❌ No (standard)	TRC required	English service, high withdrawal limits. Worth it once you have TRC/work permit.

Best path for new arrivals: Open a VPBank account with your e-visa as soon as you arrive. No ATM fee, 10M VND per transaction, and a simple process. Upgrade to Techcombank or HSBC once you have a work permit and TRC.

Documents Required

For VPBank and BIDV (e-visa holders):

•Valid passport (at least 6 months validity)
•Valid Vietnam visa or e-visa (printed or on phone)
•Proof of Vietnamese address (rental contract, hotel booking, or landlord letter)
•Vietnamese phone number (required for OTP verification)
•Initial deposit — typically 50,000–200,000 VND (~$2–$8)
•Completed bank application form (provided at branch)

For Techcombank, HSBC, Vietcombank (full documentation required):

All of the above, plus:
Work permit (giấy phép lao động)
Labor contract (hợp đồng lao động)
Temporary Residence Card (TRC) or visa with 12+ months validity

Biometric registration is now mandatory (2025). All Vietnamese bank accounts require facial recognition (FaceID) registration. Transfers over 10 million VND (~$400) require biometric verification each time. Bring your phone to the branch — you'll enrol your face during account opening.

How to Open an Account (VPBank)

Get a Vietnamese SIM card first

You need a local phone number for OTP (one-time password) verification. Viettel, Mobifone, or Vinaphone SIM cards cost 50,000–100,000 VND and are available at airports and convenience stores. Registration requires your passport.

Visit a VPBank branch with your documents

Find the nearest branch at vpbank.com.vn. Bring all documents listed above. Weekday mornings (9am–11am) are typically less busy.

Complete the application form at the branch

Staff will provide a form in Vietnamese. Some branches have English-speaking staff — if not, translation apps work fine for simple forms.

Register biometrics (face ID)

Mandatory since 2025. Staff will guide you through facial recognition enrollment on their system. This takes about 5 minutes.

Make initial deposit and receive card

Deposit the minimum (50,000–200,000 VND). You'll usually receive a debit card on the spot or within 3–5 business days. Online banking is activated via the VPBank mobile app.

Set up VPBank mobile app

Download the VPBank NEO app. Link your account using the card number and registered phone number. Enable biometric login.

ATM Fees & Withdrawal Limits

Bank ATM	Fee for foreign cards	Max per transaction	Note
VPBank	Free	10,000,000 VND (~$400)	Best for Wise/Revolut withdrawals
ACB	Free	3,000,000 VND (~$120)	Low limit requires multiple trips
HSBC (own customers)	Free	Up to 20,000,000 VND	Premium/Advance account holders
Techcombank	30,000–66,000 VND	~5,000,000 VND	Avoid for foreign cards
Vietcombank	~50,000 VND	3,000,000–5,000,000 VND	Avoid for foreign cards
BIDV	40,000–55,000 VND	3,000,000–5,000,000 VND	Avoid for foreign cards
TPBank	~3.3% of amount	10,000,000 VND	Changed in late 2025 — no longer free

Always choose "Withdraw in VND" when the ATM asks about currency. Selecting your home currency activates Dynamic Currency Conversion (DCC) — a hidden fee that adds 3–5% to the exchange rate. Always decline DCC and withdraw in VND.

Wise & Revolut in Vietnam (2025)

Both Wise and Revolut work well in Vietnam and are widely used by expats before (and instead of) opening a local account.

Feature	Wise	Revolut
Exchange rate	Mid-market rate (no markup)	Mid-market rate on weekdays (small weekend markup)
ATM withdrawals (free)	~2 free withdrawals/month up to ~$250 equivalent	Up to $200–400/month free depending on plan
ATM withdrawals (over limit)	1.75% fee	2% fee
Card used in Vietnam	Visa/Mastercard — accepted at ATMs & shops	Mastercard — same acceptance
Best ATM to use	VPBank (free for foreign cards)	VPBank (free for foreign cards)
Vietnam VND account	No (can receive VND transfers but no local account)	No

The optimal strategy: Use Wise card at a VPBank ATM — mid-market exchange rate + no ATM fee = the cheapest way to get Vietnamese cash. This beats most local debit card setups until you have a work permit and TRC.

Sending Money Back Home (Outward Transfers)

This is where Vietnam's banking system is most restrictive. To legally transfer large amounts of VND out of Vietnam, you need:

A valid work permit
A valid labor contract
Documentation proving the money was earned legally (payslips)

Without these, outward transfers above small amounts face significant restrictions. HSBC and Standard Chartered are much better positioned to help with international transfers than local Vietnamese banks.

For freelancers and remote workers: Many expats keep their income in foreign accounts (received via Wise/Payoneer) and only bring VND into Vietnam as needed via ATM withdrawals. This sidesteps the outward transfer problem entirely.

Vietnam's Biometric Banking Requirement

As of July 1, 2024, the State Bank of Vietnam made biometric data (facial recognition) mandatory for all bank accounts. This affects all new accounts and existing accounts must be updated by the deadline.

Practically, this means:

You must physically visit a branch or use the bank's app-based eKYC to register your face
Transfers over 10,000,000 VND (~$400) require biometric (FaceID) verification each time
Transfers over 3,000,000 VND also require verification from 2025
Accounts without registered biometrics may be frozen

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