大咖福利影院

If you currently hold an account with HSBC Australia, you can apply for an HSBC Vietnam account before moving or arriving by using the HSBC Overseas Account Opening Service.

@SimCityAT

Thanks again,聽 I'm onto it tomorrow!!!

If you currently hold an account with HSBC Australia, you can apply for an HSBC Vietnam account before moving or arriving by using the HSBC Overseas Account Opening Service. - @SimCityAT

Unfortunately, because of the strict banking laws in Vietnam, it won't exactly be connected fully to the Australian account.

Think of it more as an affiliated account with restrictions on international currency movement, especially out of Vietnam

...can an Australian open an account with any of the banks in S脿i G貌n? Im getting the feeling, No. - @MarkinNam

The ability of a foreigner to open a bank account in Vietnam is directly related to the type of visa you hold.

Some limited banking functions are available for those on tourist visas. Your best bet is to try with Vietcombank, as many of the other smaller banks are not comfortable opening accounts for tourists.

Even if you eventually have a temporary resident card TRC, or the 5-year Visa exemption card given to those with family connections here in Vietnam, You will find it next to impossible to move currency from Vietnam to another country, Unless you have documentation showing that the source of your funds is a legal job covered by a legal work permit.

I'm married and on my second TRC and there's very little that I can do with my bank accounts at ACB and Agribank. I can wire money into the country but unless I get a job and can show the source of funds, there's no way that I can send money out of Vietnam.

It's usually at this time that some ignorant person pipes up and says that I should use Wise.

It's definitely possible to move money into Vietnam with Wise but it's virtually impossible to use it to send money out of Vietnam.

Yes, I opened an account with HSBC VN. The advantage is that they鈥檙e accustomed to working with foreign customers and familiar with the process of sending/receiving funds to and from abroad. The disadvantage is that the process of opening said account was bureaucratic, even suspicious.聽 Such red tape is largely due to VN banking regulations and restrictions - at HSBC or anywhere else - which prevent you from opening one until you have a valid work permit or TRC and demonstrating that the source of income is legitimate. It鈥檚 not so different from the obstacles a Vietnamese person would have to overcome to open an account in Australia.

I'll try the route of opening an account here then 1 for Viet Nam.

@MarkinNam

Hsbc are a pain in the but, at least their website is.聽 Got as far as them sending a link to verify myself and kept getting " You need to open in a different browser " tried 3 but no joy,,, yet.

@MarkinNam
Hsbc are a pain in the but, at least their website is. Got as far as them sending a link to verify myself and kept getting " You need to open in a different browser " tried 3 but no joy,,, yet. - @MarkinNam

agree 100%

HSBC VN is anything but what you'd expect of a global operating finance or banking giant!

Not too difficult to get an account set up by most companies who have foreign expat staff who wish to open an account here. But if given the choice or your employer offers you the option to have your salary paid into different accounts, best is to have the big chunk paid into your overseas account and the rest or whatever you decide, to be paid into your HSBC VN account.

You can get accounts with various banks, though not entirely in "full compliance" with the law. But I know many blokes who got a Sacombank, Vietcom, Military bank etc, however, they only use it for limited cash flows, I'd guess below 2K USD a month. But even if you manage to set up such an account, you always face the risk of having it "frozen".

But back to a legit HSBC VN account held by a foreigner. I can tell you from my own experience of over 10yrs having one.

Let's look back. Up until about 7 or 8 years ago, my HSBC account manager would asking me on a regular basis, perhaps 4 times or more per year, if I might be interested in opening up an overseas HSBC account in Singapore, as it would allow me far better conditions to make investments etc...

I never cared too much and rejected. Then, around the time COVID broke out and I had difficulties with getting USD currency in cash at my HSBC bank, because my account was in VND and something changed internally at HSBC, which resulted in me having to provide a valid flight ticket abroad and a maximum of 2'000 USD that I could have exchanged at the bank per month, I though, rubbish, enough, let's call that dude who kept pestering me with that HSBC Singapore account deal. Guess what, turns out that the Singapore option was no longer available and instead, for me to get an overseas HSBC account, they gave me some contact of HSBC India. To open an account via HSBC India, they requested notarized documents dating 10 years back, including tax declarations, bank account statements of all my accounts, etc etc...

Another thing, although they just recently announced some changes, anyone who's an expat with a valid TRC and work permit, plus labor contract, would have their HSBC debit & credit accounts blocked around 30 days or more prior to expiration date of any of those documents and it would only be re-activated after you present the renewed documents. I think they've now reduced to down to a week.

That's not exactly a very practical feature!

Another issue I has just a few weeks, perhaps around 2 month ago was, that I suddenly received a notification that one of my long-term repetitive payments or standing orders for monthly payments that I've been doing into overseas savings accounts of my kids had been rejected. I went to the bank and asked why? They said, ahh, it's because I entered the wrong currency, which made ZERO sense as it was a standing order and I didn't make any changes at all! Then they told me I should simply cancel the existing payment orders, delete the payee details, then re-enter the payee details and set up a new payment order. Instantly it bounced back and kept bouncing back, sow I went back to HSBC again and asked them to help me. I was told it must be due to wrong currency. So I asked them to do it manually. They did, or rather, they tried, but all they were able to share was that it seems the system might have some error as it was weekend and I should wait until Monday, then try again. You're already guessing what happened on Monday, NOTHING, same issue!

Then, around a month later, me and anyone else who had an HSBC account in VN received an nice email which informed that due to new regulations, a new rule applies for ALL international payments. It now not only requires all the usual bank details, it now also requires at least the zip code and name of the city where the payee resides. Unfortunately, the zip code and name of the city where my kids acc is registered at, isn't recognized by HSBC VN online banking. HSBC VN's recommendation to that problem was "if possible, try to open another account with a different zip code and location".

Forget about transferring your savings you earned here legal, even with all PIT certifications etc. Good luck in case the company you worked for no longer exists!

Remember, there's a reason why locals with connections abroad try to get their funds out by whatever means possible!聽 聽 聽