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Update bank account details
(last modified: 5/28/2015)

Expected results

Bank account notification 01 - Bank account notification

Requirements

1. Application for updating bank account details
Application for updating bank account details (original)
2. 01 - Libre deuda de patente
Authenticated copies of Investment Certificate
3. 01 - Libre deuda de patente
Seal specimen (Simple copy)
4. 01 - Libre deuda de patente
Passport and/or Vietnamese ID card of the Company's legal representative (original)
(to present at the counter)
Those are just example requirements from Vietcombank in Hai Duong. Other banks could require different documents.

Time frame

Generally, it takes 10 to 15 minutes to open an account at a bank provided that the application meets the bank's requirements.
Waiting time in queue: Min. 5mn - Max. 15mn
Attention at counter: Min. 5mn - Max. 15mn

Legal justification

1. Decision No. 1284/2002/QD-NHNN of the State Bank dated November 21, 2002 issuing the regulation on the opening and use of deposit accounts at the State bank and credit institutions
Decision No. 1284/2002/QD-NHNN of the State Bank dated November 21, 2002 issuing the regulation on the opening and use of deposit accounts at the State bank and credit institutions
Article 4

Additional information

Please be noted that the information presented here is mere example for reference of the investors only.

After being set up, a company must open in any commercial bank a special capital foreign currency account, which will be used for capital transactions, eg. making charter capital contributions, foreign loan disbursements or payments etc. The company may open and maintain different accounts for different kinds of foreign currencies or Vietnam Dong.

No fee is charged upon bank account opening. However, most of banks in Vietnam require individual and corporate customers to keep a minimum account balance. For example: Vietcombank in Hai Duong requires a minimum balance of 1,000,000 VND in a Vietnam dong account or 100 USD in an USD account.
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