Vietnam has eased rules allowing foreign credit institutions to use accounts at local banks for international payments and transfers.

The State Bank of Vietnam (SBV) has issued Circular No. 39/2026/TT-NHNN, revising regulations governing foreign-currency and Vietnamese dong accounts held by residents and non-residents at authorised banks. The new rules will take effect on September 19, 2026, according to Vietnam Net. 

Under the circular, non-resident foreign credit institutions may use foreign-currency and dong accounts at authorised Vietnamese banks to make international payments and transfer funds on behalf of customers, provided such activities are covered by written agreements between the institutions.

They may also conduct permitted income and expenditure transactions under the relevant provisions of Circular No. 16/2014/TT-NHNN.

The new rules require account use and related arrangements to be based on written agreements between authorised banks and foreign credit institutions, while remaining subject to Vietnamese law.

The circular also strengthens the responsibilities of authorised banks. They must guide customers on compliance, establish procedures for monitoring transactions, and retain relevant records and documents. These measures are intended to ensure foreign-exchange services are provided for legitimate purposes and in accordance with regulations.

Authorised banks will have exclusive responsibility for providing payment and money-transfer services through accounts held by non-resident foreign credit institutions at their institutions. Such activities must comply with rules governing cashless payments, foreign-exchange management and anti-money laundering.

Banks must also meet requirements relating to counter-terrorist financing and preventing the financing of the proliferation of weapons of mass destruction.

Customers and related parties are required to provide prescribed documents and certificates when carrying out foreign-exchange transactions and remain legally responsible for their accuracy. They must also comply with relevant financial crime prevention requirements.

Circular No. 39/2026/TT-NHNN assigns implementation responsibilities to relevant SBV units, credit institutions, foreign bank branches and other organisations and individuals. All affected parties must comply with the revised rules once they come into force.