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Banking in Vietnam

Posted by Housingsgn on March 12, 2019

The Vietnam’s currency unit is the Dong (abbreviated to VND). For the daily exchange rate, you can refer the website of VIETCOMBANK –

Banknotes: You can refer the table below for the major paper notes. Besides these, other notes with lower value can be used in daily are: 200 VND, 500 VND, 1000 VND & 5000VND.

Be careful, the 20,000 & 500,000 VND notes look slightly different, please pay more attention when using.

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Vietnamese currency

VIETCOMBANK, SACOMBANK & TECHCOMBANK are the leading local banks in Vietnam, while the most common international banks are CITIBANK, HSBC, SHINHAN & STANDARD CHARTERED.

Other local banks that are recommended for the Expat are TPBANK, VPBANK & VIB BANK, useful by the English communication, the Online Banking Service, 24/7 Auto-banking Station (Only TPBANK & VPBANK).

Opening a bank account

You will need to bring the following documents with you to the bank of your choice when applying:

  • The passport
  • The valid Visa in Vietnam – that’s good from three to six months or longer
  • If you’re an expat in the country on a work visa then you’ll also want a copy of your work contract
  • Minimum deposit depending on which bank you’re dealing with

The process can be done in the same day. Most banks don’t require the fee to open a new account. Together with the payment account, you can request the banks to issue:

  • The ATM/Debit VISA/MASTER Card
  • Online Banking & Mobile App Account (will request you to have the Vietnam mobile phone number)


ATMs are widely available in Vietnamese cities. However, you are advised to carry enough cash if you travel to venture out of the city and into rural areas.

Each bank apply the difference withdraw limit per each time & each day (maximum withdraw limit of Vietcombank is 5,000,000VND/time and 30,000,000VND/day, while for Sacombank is 10,000,000VND/time and 100,000,000VND/day).

The withdraw fees are also applied for specific banks. You can refer the below chart (Yellow is the withdraw fee in different ATM’s bank, Red is in the same ATM’s bank)

Credit Cards

Credit cards (VISA/MASTER/JCB) are widely accepted now at large hotels, malls, convenient stores, restaurants and retail outlets (might have the charge fee when using JCB Card, please double check before using).

Online & Mobile Banking

Most banks are developing their website and the mobile apps. for Online banking service. You can find the apps. in Apple Store or Play Store. Various service useful services are integrated:

  • 24/7 banking services
  • Online internal and external transaction.
  • Online payment for the utilities (Internet, Electricity, Water, Top-up the phone).
  • Managing Account, Cards, Bank Statement.

If you have any request regarding accommodations or apartment for rent in HCMC, please don’t hesitate to contact us or leave us a message here We are more than happy to assist you

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