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.
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