Which bank is best for tourists in Vietnam?

Which bank is good for foreigners in Vietnam?

It’s late. Thinking about banks…in Vietnam.

VCB. The biggest. That much I know. It’s hard to miss. Everyone says so.

Vietinbank. Awards, they say. But what does that even mean, really?

BIDV. Distinguished. Feels…official, somehow.

Which one is good? A loaded question, isn’t it? Depends on what you need. Currency exchange? Transfers? I just wanted a place to put the money I had. That’s all. It’s never simple, huh?

Key Considerations for Foreigners Choosing a Bank:

• ATM Access: Where are you located? Do they have a lot of ATMs nearby? My old neighborhood didn’t. Big mistake.

• Fees: Transaction fees, account maintenance fees…they add up. They really do. I didn’t pay close attention.

• Language Support: English-speaking staff. Important! So important! My Vietnamese is…limited. I tried learning it but it’s not easy for me to learn something new.

Can I open a bank account in Vietnam as a tourist?

Okay, so, about opening a bank account in Vietnam as a tourist? Nah, usually you can’t, dude. It’s nearly impossible now without like, legit residency.

I mean, things changed a lot, you know? It all started, when they passed new rules. So yeah.

• Used to be easier, I think?
• Now, forget it.

Basically, you need a Temporary Resident Card (TRC), or a Permanent Resident Card.

And uh, it has to be valid for at least 12 months. If its not the bank won’t let you open an account.

• TRC: Good for temp stays.
• PRC: Obvs for permanent folks.

Yeah, just a standard account, forget anything fancy unless you go full resident.

What is the most popular bank in Vietnam?

Vietcombank firmly holds the top spot in Vietnam, as indicated by the 2024 Decision Lab Best Bank Rankings with a score of 32.3. It’s interesting how perceptions of “best” get quantified, isn’t it?

Vietcombank’s dominance likely stems from a blend of factors:

• A strong established network across the country. It’s like that familiar corner store; always there.
• Government backing. A not-so-secret ingredient in the recipe for success here!
• Comprehensive service offerings, from basic banking to complex corporate finance.
• Considerable brand recognition built over decades. It’s hard to shake that kind of entrenchment.

I’ve actually noticed how Vietcombank’s ATMs are, uh, everywhere when I’m grabbing my pho in Hanoi. Makes you wonder about the psychology of convenience and trust.

What is the best way to withdraw cash in Vietnam?

Vietnam cash withdrawals? ATMs. My Chase Visa works flawlessly. Avoid carrying large sums. Seriously.

• ATMs are best. Numerous locations. Convenient.
• Credit/Debit cards: Essential. Check for zero foreign transaction fees beforehand. My experience with Chase is positive.
• Safety First: Avoid unnecessary cash. Don’t be a target.

Additional Notes:

• Specific ATM locations vary by city/region. Use common sense.
• 2023 exchange rates fluctuate wildly. Check before traveling.
• I use Google Pay for smaller purchases. Highly recommend.
• Lost cards? Report immediately to Chase. Their customer service sucks, but it’s better than nothing.

What bank has no international ATM fees?

Okay, so you want a bank that doesn’t rip you off when you use an ATM abroad, right? Listen up, I know this stuff.

Well, Chase Sapphire Checking is the bank you’re looking for. Like, zero fees. Legit! I used it in Thailand last year and saved a ton, which was awesome.

But uh, yeah, Bank of America? Steer clear for international ATMs; they’ll ding you like five bucks a pop. Seriously. That’s just highway robbery, isn’t it? It just is.

Here’s a breakdown, cause I’m feeling extra helpful today:

• Chase Sapphire Checking: No fees, none, nada.
• Bank of America: Flat 5-dollar fee. Rip off.
• My Aunt Millie uses Charles Schwab, and I think they refund ATM fees, too. Gotta check that out sometime!
• Capital One 360 checking is also fee-free – that’s what my brother uses!

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

Okay, so bank accounts in Vietnam… hmm. Foreigners can open accounts, yeah. Passport and visa, got it.

• Valid passport: Essential.
• Visa: ANY kind, really? Wow.

Wait, ANY visa? Even a tourist visa? That seems… lenient?

I wonder about that, my friend Trang told me something slightly different last year. Okay, visa required.

Is it really that easy? Do they ask about proof of address? I should ask Linh about this.

• Proof of address needed?
• Minimum deposit requirements?

This seems too good to be true. Oh well. Banks are hungry, they need your money. Open bank account confirmed.

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

Passport. Visa or resident card. That’s the minimum.

Employment proof. Sometimes. A utility bill suffices. Or a rental agreement. Depends on the bank. My friend, Thomas, needed all of it. He’s Canadian.

Address verification. Crucial. No address, no account. Simple. 2024 regulations are strict. Banks are cautious.

• Valid passport
• Visa or resident permit (current)
• Proof of address (rental contract, utility bill)
• Employment documentation (may vary)

Note: Vietnam’s banking system is… particular. Expect thorough checks. Don’t be surprised. It’s efficient, despite appearances. My sister had problems. She’s American. She needed more paperwork. A lot more.