How to Open a Bank Account in Vietnam as a Foreigner (2026)

Vietnam has become a popular destination for digital nomads and expats — but its banking system is still adapting. Most banks require a work permit or temporary residence card (TRC) for full account access, although a few banks accept long-term visas (DN or LD) with proper documentation. This 2026 guide covers what works.

Required documents

1. Passport with valid Vietnamese visa
2. Work permit or Temporary Residence Card (TRC) — strongly preferred
3. Long-term visa (DN business visa, LD work visa) — sometimes sufficient
4. Proof of Vietnamese address (rental contract, sometimes hotel registration)
5. Letter from Vietnamese employer or sponsor (sometimes)
6. Initial deposit typically VND 1,000,000–10,000,000 (~$40–400)

Step 1: Visa is the gating factor

• Tourist visa (e-visa, DL): Most banks refuse. Limited fintech options.
• Long-term business visa (DN): Some banks accept with company sponsor letter.
• Work visa (LD) + work permit: Yes, accepted broadly.
• Temporary Residence Card (TRC): Yes, easiest route.

If you are on a tourist visa, your only realistic options are Wise, Revolut, or fintechs like Cake by VPBank.

Step 2: Choose the right bank

Vietcombank

Largest bank by assets, strong international presence.

• Foreigner-friendliness: Good with proper docs
• English support: Available in major branches

BIDV

State-owned, extensive network.

Techcombank

Major private bank, strong app, popular with younger Vietnamese and expats.

• Foreigner-friendliness: Good
• App: Excellent

VPBank

Major private bank.

TPBank

Foreigner-friendly digital bank.

HSBC Vietnam

Useful for those with HSBC relationships abroad.

Cake by VPBank

Digital-only, no monthly fee, foreigner-friendly with proper visa.

• Setup: App-based
• Best for: Tech-comfortable expats

Timo

Digital bank, easier setup process.

Wise

VND transfers at mid-market rates. Saves significantly vs. Vietnamese bank FX.

Common mistakes

Trying to open on tourist e-visa

Refused by most banks. Get DN business visa or longer.

Forgetting work permit

For LD visa holders, the work permit (different document) is often required by banks.

Using a hotel address

Banks want a rental contract or registered address.

Underestimating cash culture

Vietnam is still cash-dominant in many areas. ATM access matters more than apps in some smaller cities.

Costs to expect

Item	Typical Cost
Account opening	Free
Monthly maintenance	Free–VND 100,000/month
ATM card	Free or VND 100,000/year
Domestic transfer	Free–VND 11,000
International wire	VND 200,000–500,000
ATM withdrawal (own bank)	Free or low
ATM withdrawal (foreign card)	VND 50,000–110,000 + 2–4%

Frequently asked questions

What is QR code payment?

Vietnam has aggressive QR code adoption — restaurants, shops, even street vendors accept VietQR. All major banks support it.

Can I open as a digital nomad?

Vietnam does not have a formal digital nomad visa as of 2026. Many nomads use the long-term DN business visa (3–12 months). Some banks accept this with sponsor letters.

How long does it take?

Cake/Timo: 1–3 days. Traditional banks: 1–2 weeks with proper documentation.

Can I get a credit card?

Difficult as a foreigner without long employment history. Easier with TRC and 6+ months of salary at a Vietnamese employer.

What about cryptocurrency?

Vietnam has unclear crypto regulations. Major exchanges operate but banks may scrutinize crypto-related transfers.

Next steps

1. Get a long-term visa (DN business or LD work).
2. Get TRC if staying 1+ year.
3. Set up Wise for VND transfers at fair rates.
4. Open at Vietcombank or Techcombank with all documents.
5. Try Cake by VPBank as a faster digital alternative.

For more on Vietnam, see our Vietnam country guide and the bank account guide.