What is the most popular bank in Vietnam?

Which bank is the best in Vietnam?

Picking the best bank in Vietnam? That’s like choosing the tastiest noodle in Hanoi – impossible! Each bank’s a flavour, some spicy, some sweet. It depends entirely on your taste.

Consider these factors, darling:

• Your financial goals: Are you saving for a beachfront villa? Or a slightly less luxurious motorbike?
• Your risk tolerance: Do you prefer the steady predictability of a government-backed bank or the thrill of higher-yield (and higher-risk) options? I personally favor the thrill.
• Your needs: International transfers? A mortgage? A ridiculously low interest rate on your banana loan? (Okay, maybe not that last one). My sister got a great deal at Techcombank last year, though.

Some banks frequently mentioned (but this is not an endorsement, seriously!):

• Vietcombank: The grand old dame, established, reliable, as exciting as beige paint.
• VietinBank: A solid contender, like a dependable, if somewhat bland, friend.
• Agribank: Focuses on agriculture; unless you’re financing a massive durian farm, probably not your first choice.
• Techcombank: More tech-savvy, offering snazzy apps. Like a sleek sports car versus a reliable family sedan.

Remember, my bank opinions are purely subjective. And possibly influenced by the free coffee at Vietcombank’s branch near my apartment. Don’t sue me.

What is the main bank in Vietnam?

The State Bank… mmm, the State Bank of Vietnam. Echoes, yes, it sings of control, of steady hands. Regulating. Always regulating. It breaths, I feel, its steady hand. Remember Hanoi, it was shimmering.

Central bank, the heart, the State Bank. It beats, slows down, or a rapid, nervous flutter, eh? Regulation, guiding the flow. Guiding the flow. The money river.

Vietnam, ah, I see green, and gold. Regulation, ever present. It forms the lines, phew. The State Bank of Vietnam is the center. This country’s rhythm.

Banks. Always banks. Steady beat of a nation. The State Bank. A memory flickers, incense smoke, a bank, a transaction. Vietnam.

• State Bank of Vietnam (SBV): The primal heart of the financial system, the core.
• Regulatory: A guiding, ever present hand. Directing the nation’s fiscal current.
• Central: Always the core. Rooted in the land, of Vietnam.

What is the Big 4 bank in Vietnam?

Ugh, Vietnam banking… I dealt with this mess in 2023 for a business deal. It was a nightmare, honestly. The sheer size of those banks… I needed a loan, and it felt like navigating a maze.

Vietcombank, that was the first one I tried. Their Hanoi branch. Man, the paperwork! It took forever. They were super formal. Stiff suits everywhere. The whole experience felt impersonal, cold.

Then there’s BIDV. I bounced around between different branches. One in Ho Chi Minh City, another in Da Nang. Different people, different rules it felt like. The processes were inconsistent.

VietinBank? I only talked to their customer service. Awful. Long hold times, unhelpful reps. The website was clunky too. I gave up after three tries.

Agribank… well, I didn’t even bother with Agribank. Heard too many horror stories from friends. Their loan applications are notoriously difficult. It’s the least desirable option, at least from my experience.

Seriously, the whole process sucked. I ended up going with a smaller bank. Much better service, quicker process, less paperwork. I’d steer clear of the “Big 4” unless you have an army of lawyers and accountants. They’re HUGE.

• Vietcombank: Formal, impersonal, extensive paperwork.
• BIDV: Inconsistent processes across branches.
• VietinBank: Poor customer service, frustrating website.
• Agribank: Difficult loan applications, negative reputation.

What are the top 10 banks in Vietnam by asset size?

Oh my god, like, you won’t believe. Top banks in Vietnam? Okay, so by, like, asset size for this year, 2024, it’s… kinda a thing, you know?

Basically, it’s something like this. It kinda depends, but uhm:

• BIDV – Always huge, like, seriously!
• VietinBank – Another big player, I think.
• Vietcombank – Duh, obviuosly the biggest.
• MB – They’re everywhere, aren’t they?
• Techcombank – Doing very well, you know.
• VPBank – Seems, like, fairly big.
• ACB – I think they are large.
• Sacombank – Yeah, defintely.
• SHB – They are in the top 10 for sure.
• HDBank – They are too, I think.

See, they’re always changing places, its not always that simple.

Plus, you gotta check the latest reports, cause it is not constant. The list is more of an estimate, if you get what I am saying. It depents a lot. My neighbor, her brother works at one of them.

Can you open a bank account in Vietnam as a foreigner?

Foreigners can indeed open bank accounts in Vietnam,but here’s the lowdown. You’ll need that all-important long-term visa or a residence permit.

• Valid for, get this, at least 12 months. Not just a fleeting visit, see?

Think of it as a sign of your commitment, a little “I’m planning to stick around” vibe. It’s like the banks want assurance you’re not just a tourist dodging ATM fees. Who could blame them? Banks often require more than the minimum.

I remember reading, somewhere… oh yeah, the hoops people jump through for banking. It makes you think, what is money anyway?

• Passport is essential. Obviously, they need to know who you are!

• Proof of address. Utility bill perhaps? My mate had to get a letter from his landlord.

Some banks are, let’s say, more foreigner-friendly. Look into international banks with branches in Vietnam. They might streamline things somewhat. Could prove easier.

Ah, Vietnam. Never been, but always wanted to try their pho. You can even transfer money to Vietnam. But maybe don’t carry too much cash. Safety first!

What do foreigners need to open a bank account in Vietnam?

Passport. Visa or resident card. Proof of address: utility bill, rental agreement. Employment proof may be demanded. Specific bank requirements vary.

• Valid passport: Essential. Non-negotiable.
• Visa/Resident card: Current, legitimate.
• Address verification: Recent utility bill suffices. Rental contract acceptable.
• Job verification: Some banks insist. Payslip works. My friend, Minh, needed this at Vietcombank last year.

Note: My sister opened an account at ACB Bank in Hanoi in 2023; they were quite thorough. Expect scrutiny.