Menu
Expat.com

Banking Warning

Post new topic

Philganesh

The fact remains that the banks, private businesses and individuals are forced to operate on the basis of minimal or no trust. As foreigners we see this a little more clearly. If there is not absolute trust in a business environment (including in your personal banking) there can be no development in business. A contract is a statement of trust.
In an environment where even a simple transfer of moneys is a risky business (as it has been for several friends of mine) there is no prospect for creative economic development. The reason starts with a capital "C", and it is everywhere here.

Vagabondone

The OP's post is rather ancient. Heck I have not seen him on here in ages. Have no clue if the problem he mentioned still happens.

sanooku

Didn't have identical problem, only a similar problem at same bank (Vietcom), with opening a bank account.

Bank clerk insisted that I sign name including middle name, although, we never use the middle name. On the form there was a question "name as you want it to appear on the card". I put firstname and surname. When she input full name into system, she mis-spelled it. It meant another visit to the bank to correct it, before they issue the card.

Card was issued with Firstname Middlename and only PART of surname. (too many characters to fit to card). So had to visit branch again, to ask them to issue card with Firstname and Surname, as requested in the form.

They then issued me with a different card (a visa card), which attracted a small month fee. I had to challenge this as it was issued without my consent. now I've been issued with the original Connect24 ATM card, with FirstName and Surname only. A lot of faffing around if you ask me.

Bazza139

The upside is your teaching: how to think.

              ..they will, eventually...             :blink:

uscking

Smart to stay until it was transferred back into your account. Check out charles schwab no fee debit card if your from the US. Mine even reimburses me for the Vietnamese ATM fees. Helps a lot when you can only pay rent in cash and you have to withdraw multiple times bc they only let you take out like $100 at a time at most leading to multiple ATM fees for most people.

Contem talk

Vietnam bank never helps to an individual business or start up business. I remember one time I went to many international banks, Such an as HSBC, ANZ and Standercharet to open a bank account for my company, But they all said I need to have at least three years old business licence to open company account. If we choose local banks, but we have to expect such a mistake as miss communication.

Articles to help you in your expat project in Vietnam

  • Opening a bank account in Vietnam
    Opening a bank account in Vietnam

    If you have decided to settle in Vietnam, you will definitely need to open a bank account. Not only will this be ...

  • Dating In Vietnam
    Dating In Vietnam

    If you're considering moving to Hanoi, or Ho Chi Minh City, the dating scene may be of interest to you. ...

  • Making phone calls in Vietnam
    Making phone calls in Vietnam

    The telecommunications sector in Vietnam has flourished throughout the past two decades. Like many foreigners, ...

  • Moving to Vietnam with your pet
    Moving to Vietnam with your pet

    If you are planning to move to Vietnam with a pet, there are a number of formalities that have to be completed ...

  • Driving in Vietnam
    Driving in Vietnam

    Vietnam is known for four categories of lush and diverse landscapes, and one of the easiest ways to see firsthand ...

  • Getting married in Vietnam
    Getting married in Vietnam

    Have you met that perfect someone who you want to spend the rest of your life with? Luckily, getting married in ...

  • Sports activities in Hanoi
    Sports activities in Hanoi

    We know there's a lot of attention on the drinking culture in Hanoi, but what about the options for a healthy ...

  • The most popular neighbourhoods in Hanoi
    The most popular neighbourhoods in Hanoi

    Formerly known as Thang Long, Vietnam's present capital city was renamed Hanoi in 1831. This enchanting, ...

All of Vietnam's guide articles