Under Circular No. 39/2026/TT-NHNN, issued recently by the
State Bank of Vietnam, foreign credit institutions are allowed to conduct
international payments and money transfers via accounts in Vietnam from
September 19, 2026.
The Circular has supplemented regulations on the use of
foreign currency and Vietnamese Dong accounts opened by non-resident foreign
credit institutions at authorized banks in Vietnam, thereby completing the
legal framework for correspondent account activities between domestic and
foreign credit institutions.
The new policy is consistent with international practices
and meets the practical requirements of cross-border payment activities amid
increasingly deep international integration, thus facilitating the provision of
international payment and money transfer services.
Additionally, foreign credit institutions may also conduct
collection and payment transactions in accordance with Circular No.
16/2014/TT-NHNN, issued in 2014 by the central bank.
Other matters related to the use of accounts will be agreed
upon in writing by two parties in compliance with Vietnamese law.
According to the new Circular, Vietnamese banks must provide
guidance to customers, inspect and retain transaction documents, assume
responsibility for the services they provide, and fully comply with regulations
on foreign exchange management, cashless payments, as well as anti-money
laundering and counter-terrorist financing.
Meanwhile, authorized banks where foreign credit
institutions opened accounts must assume responsibility for providing payment
and money transfer services through these accounts, while complying with
regulations on cashless payments, foreign exchange management and other
relevant legal provisions.
