ACE Money Transfer
ACE Money Transfer
26 Aug 2026
Vietnam's banking sector features a mix of state-backed stability and agile private institutions, making the choice of where to park your money more consequential than you might expect. With roughly 49 banks operating in the country, ranging from state owned banks with massive branch networks to foreign banks offering premium cross-border services, finding the right bank in Vietnam requires more than a quick Google search.
Digital banking capabilities are increasingly prioritized for everyday Vietnamese banking, and private banks in Vietnam typically lead in mobile-first app features and zero-fee transfers. Meanwhile, state-owned banks provide stability and a wide physical branch network. Vietnam also has a fast-growing fintech ecosystem primarily led by private local banks, with players like VPBank focusing on expanding consumer finance and digital ecosystems, and MB Bank known for its aggressive digital transformation in the banking sector.
This guide breaks down the top banks in Vietnam for locals, expats, and business owners based on real-world banking needs.
Financial strength and deposit protection are essential when choosing a bank in Vietnam. We evaluated each Vietnamese bank across seven criteria:
Digital banking and mobile app quality - features, reliability, awards
English language support - website, customer service, in-branch availability
Branch and ATM network - coverage across major cities and rural areas
International transfers and foreign currency support - SWIFT, multi-currency accounts, fees
Fee structure - maintenance fees, minimum balances, card charges
Customer experience - satisfaction scores, surveys, issue resolution
Financial stability - NPL ratios, capital adequacy, credit ratings, regulatory compliance
These criteria reflect what actually matters when you open accounts and use services daily, not just marketing claims.
Techcombank is one of Vietnam’s largest private-sector banks, with a strong focus on digital banking and financial technology. It was named Best Bank in Vietnam in 2024 by Global Finance and won Digital Bank of the Year in 2025.
Best for: Tech-savvy users and expats who prioritize mobile banking and online banking.
Key strengths:
Award-winning mobile banking app with Auto-earning 2.0, which attracted more than 2.6 million users by the end of 2024; eligibility and earning rates vary by customer group and applicable balance conditions.
Over 15.4 million retail and corporate customers
CASA ratio of approximately 40%, among the highest in the Vietnamese banking sector
NPL ratio of 1.17% for loans, with a coverage ratio of 113.8% in 2024
Basel II capital adequacy ratio of 15.3% in 2024.
Possible limitations: Rural branch presence is more limited compared to state banks. Some premium digital features may carry higher minimum balance requirements. Documentation for foreigners can be more stringent for certain account type options.
Vietcombank is a leading state-owned commercial bank in Vietnam, with total assets exceeding VND 2 quadrillion in 2024. The Big Four banks in Vietnam account for a substantial portion of the banking system, and Vietcombank sits at the top. With over 130 branches and 536 transaction offices, it offers unmatched nationwide coverage.
Best for: Long-term expats with local salaries and anyone needing reliable traditional banking.
Key strengths:
Vietcombank supports transactions in multiple currencies
Vietcombank has a strong asset quality and transaction deposit base as per Moody's assessment
Customer satisfaction score of 94% in 2024 ESG reporting
Extensive employer partnerships and salary account options
Possible limitations: Digital adoption has improved but still trails top private banks in UX. Processes can be more bureaucratic, and English support varies by branch location.
HSBC Vietnam offers international banking services for eligible customers, including global account access, overseas account-opening support and international transfers. HSBC is popular for strong cross-border banking capabilities, and its global network connects your Vietnamese bank account to accounts in over 60 countries.
Best for: Expats holding HSBC accounts abroad or managing funds across borders.
Key strengths:
24/7 English support - HSBC offers a 24/7 customer service hotline in Vietnam
Free first debit card issuance, free withdrawals at HSBC and Visa/Plus ATMs
Global debit cards and cross-border banking with seamless account linking
Premium services for wealth management and investment
Possible limitations: Monthly fee of VND 300,000 if average balance falls below VND 3,000,000. Domestic remittance fees can reach VND 220,000 via standard form. Limited ATM and branch network outside Ho Chi Minh City and Hanoi. Higher fees than most domestic banks.
Applicable account and remittance fees vary depending on the service, transfer method and prevailing terms. Visit ACE Money Transfer for current rates and fees.
ACB is a Vietnamese joint stock commercial bank offering digital banking solutions and services for foreign customers. ACB is recognized for low non-performing loan ratios in retail and SME banking, making it a financially sound choice.
Best for: Foreigners seeking local banking with a broad range of international features.
Key strengths:
ACB ONE mobile app with video-call account upgrades, SafeKey security, and cashback promotions
English customer service available at branches in major cities
Competitive rates on savings accounts and standard account options
Online transaction fees and promotional offers vary by transfer and current terms.
Possible limitations: Smaller branch network compared to state banks. English support less consistent outside Ho Chi Minh City and Hanoi.
BIDV is one of Vietnam's "Big Four" state owned banks, and BIDV has served Vietnam for over six decades. It excels in corporate and business banking, with industry-leading trade finance and foreign trade capabilities.
Best for: Business banking, sending money internationally, and those needing extensive branch access for rural development areas.
Key strengths:
BIDV has an extensive branch and transaction network across Vietnam, with 189 branches and 928 transaction offices as of 2024.
International transfers via SWIFT GPI covering 120+ foreign currencies
"Global Unlimited” waived international transfer fees for eligible business customers who had not made international transfers through BIDV in the previous 12 months; the programme ran until 31 December 2025.
Digital banking for businesses via iBank and SMEasy platforms with API integrations
Possible limitations: Limited English support at many branches. The digital platform for retail banking feels older compared to Techcombank or ACB. Some international operations require in-person verification.
Standard Chartered Vietnam focuses on premium retail banking and wealth management for high-net-worth individuals. As a globally recognized standard chartered bank, it brings international expertise and investment products to the Vietnamese market.
Best for: High-net-worth individuals, business owners, and those seeking innovative investment and wealth management services.
Key strengths:
Premium banking with dedicated relationship managers
Multi-currency capabilities supporting multiple currencies for global assets
Strong investment and capital management products
International banking expertise backed by deep roots and extensive experience across Asia.
Possible limitations: High minimum balance requirements for standard chartered vietnam accounts. Limited mass-market appeal and fewer branches than other bank options. Not ideal for everyday retail banking needs.
| Bank | Best For | English Support | Branch Network | Digital Banking | Fees |
|---|---|---|---|---|---|
| Techcombank | Digital-first banking | Moderate | Medium | Excellent | Low–Medium |
| Vietcombank | Traditional banking, expats | Moderate | Extensive | Good | Low |
| HSBC Vietnam | International banking | Excellent | Limited | Good | High |
| ACB | Foreigner-friendly local banking | Good | Medium | Very Good | Low |
| BIDV | Business banking | Limited | Extensive | Moderate | Low |
| Standard Chartered | Wealth management | Good | Limited | Good | High |
Sending funds to Vietnam through an international transfer provides a way to reach recipients and eligible bank accounts in the country. ACE Money Transfer offers a digital channel for initiating the transaction, while the receiving bank or financial institution handles the funds once received.
Exchange rates fluctuate, and the rate applicable to your transfer can differ from rates shown at another time. Check the current rate atacemoneytransfer.combefore sending.
ACE Money Transfer supports international transfers to Vietnam through its digital platform and applicable payment infrastructure. The exchange rate and applicable fees are presented during the transfer process before confirmation. Rates and charges are subject to market conditions, service terms, and relevant regulatory requirements.
Delivery time depends on factors including the selected payment method, receiving institution, and local processing procedures. Any charges imposed by the recipient’s bank are determined by that institution and remain outside ACE Money Transfer’s control. Current rates and fees can be checked at acemoneytransfer.com.
Not every bank will accept every foreigner. Here are the essentials:
Required documents may include a valid passport and visa or residence card. Requirements vary; verify with the bank or a local professional.
Some bank products may require foreign residents to have at least 12 months of valid residency. Requirements vary.
Tourist visa holders generally face restrictions when opening bank accounts, depending on the bank’s requirements.
In Vietnam, many banks do not offer online account opening for foreign customers.
In Vietnam, branch account opening can take one to two hours, depending on the bank and documentation.
For short-term visa holders, HSBC and Standard Chartered have specific eligibility requirements for certain accounts.
Immigration rules are complex and subject to change. This is general information only - please consult an authorised immigration adviser or official government sources for advice specific to your situation.
If you prefer managing money primarily from your phone, Techcombank and ACB offer mobile banking services with a range of digital features. If you value in-person service and nationwide access, Vietcombank and BIDV have extensive branch and banking networks across Vietnam.
Most major banks now offer online banking portals, but app quality and feature depth vary significantly. American banks and commonwealth bank branches do not operate in Vietnam, so international options are limited to HSBC, Standard Chartered, and a handful of other foreign banks.
Frequent international transfers: HSBC and BIDV offer international banking and money-transfer services, with features and availability varying by account type, destination, and transfer requirements.
Multi-currency support: Vietcombank and Standard Chartered handle foreign currency accounts well
Low fees: Techcombank and ACB run aggressive zero-fee promotions for online transactions
Business and trade finance: BIDV's corporate services and loans are hard to beat
Techcombank: A strong option for customers interested in digital banking features and technology-led financial services.
Vietcombank: An established choice for customers who prioritise branch access and a broad banking network.
HSBC: Suited to customers looking for international banking services and English-language support.
ACB: An option for foreigners considering local joint-stock banking and customer-focused services.
BIDV: A potential fit for customers interested in business banking, development finance and nationwide coverage.
Standard Chartered: An option for customers seeking wealth management and premium banking services for assets and investments.
This information is for general informational purposes only and does not constitute financial or legal advice. Banking needs and suitability vary by individual circumstances. Please consult a qualified professional if you require financial or legal advice.
Finding the best bank in Vietnam comes down to your residency status, daily banking habits, and financial goals. Techcombank leads for overall digital experience and financial success metrics, while Vietcombank offers the most comprehensive traditional banking with top banks-level trust and credit ratings.
Before visiting any branch, verify current fee schedules, minimum balance requirements, and documentation needs directly with the bank. Policies shift frequently in Vietnam's banking landscape.
Start by identifying which two or three banks from this list match your profile, then visit their branches in your city to compare the experience firsthand. Choosing a bank that fits your needs can help you manage costs, save time, and make banking more convenient.
Disclaimer: This article is intended for general informational and educational purposes only and should not be construed as legal, regulatory, tax, business, or financial advice. While reasonable efforts have been made to ensure that all facts, figures, and data are accurate and valid as of the date of publication, no warranty or guarantee is given as to the ongoing completeness, accuracy, or currency of the information.
The content is based on information available at the time of publication. Regulations, government policies, market conditions, and service offerings may change over time and vary across jurisdictions and providers. As a result, some information may no longer be current or applicable. Readers should independently verify all information and consult qualified professional advisors before making any financial, legal, or business decisions.
