Best Banks For Resident Expats cf Agribank Problems

NO transfers between bank accounts?

Maybe depends on your source of income, because with Vietcombank I never had any issues transferring locally between bank accounts.

But you are right, international transfers are virtually impossible with them.

Last time I asked, they gave me the contact number of Western Union...

As an expat better stay away from the local banks. They all have the same issues you just described.

Personally I have good experiences with Shinhan and mixed experiences with HSBC

(It does work but poor customer service)

...international transfers are virtually impossible with them. Last time I asked, they gave me the contact number of Western Union...       -@RCP79

Not sure if you are referring to int'l transfers out of VN, but Western Union cannot send monies, anywhere, even within Vietnam.

They can, however, receive from anywhere.

Ok, I didn't know that.

I wanted to transfer money out of Vietnam.

I never actually called WU, I gave up and moved to HSBC.

As long as the money comes from a validated source (salary for example), you can easily do international transfers online.

(HSBC you have to use the website, Shinhan you use their App)

For transfers inside Vietnam I never had any issues with Vietcombank. Their app is actually one of the best.

@RCP79

I was quite surprised myself. I was in Saigon and purchased a used camera from a guy in Hanoi. I went to WU to send him the money, but they told me they cannot. Being a foreigner, I thought that he thought I wanted to send the money out of country so I explained to him it was a domestic transfer going to a VN citizen in Hanoi. Nope, not even within country. Mind you, that was 4 years ago but I doubt the policy has changed.

I went to a branch of his Hanoi bank in Saigon and deposited it straight into his account. Even that was a bit of a rigamarole.

@Aidan in HCMC WU unable to do transfers.... Then what they do? 😆😆

I wanted to say it's like a petrol station not able to sell petrol. But that also seems to happen here from time to time..

WU unable to do transfers.... Then what they do? 😆😆
I wanted to say it's like a petrol station not able to sell petrol. But that also seems to happen here from time to time..
       -@RCP79

I'm thinking only to receive money from overseas (netting a healthy commission), for tourists/travellers/backpackers who need the money, like pronto!

@john10168

what is AU. ?  someone commenred on here TIMO coild get expat account there.

@brianAFSER73

AU, I think he is referring to Australia.

Am I the only one who seems to understand that there is a difference between international accounts and domestic accounts?

International accounts are totally isolated from the domestic banking system.

Domestic accounts can do all of the things that everyone's complaining they can't do, with bank accounts that are almost certainly international accounts.

I was once ridiculed about this by a long time member of the forum who insisted there is no such thing as an international account.

He's gone dormant now but maybe you should all ignore me on this point.

Even if I am right...

    @john10168
what is AU. ?  someone commented on here TIMO could get expat account there.
   

    -@brianAFSER73

AU = Australia

VN = Vietnam

etc

i have seen TIMO mentioned elsewhere, but that is precisely why i posted this query: to get the latest advice re expat (as opposed to tourist) local bank accounts

(the only people who really know by 'lived experience' are expats themselves. usually, with VN, they for obvious reasons, do not have that experience or knowledge, and you will get some made-up answer, and/or some answer that changes daily)

    Am I the only one who seems to understand that there is a difference between international accounts and domestic accounts?
International accounts are totally isolated from the domestic banking system.

Domestic accounts can do all of the things that everyone's complaining they can't do, with bank accounts that are almost certainly international accounts.

I was once ridiculed about this by a long time member of the forum who insisted there is no such thing as an international account.
He's gone dormant now but maybe you should all ignore me on this point.

Even if I am right...
   

    -@OceanBeach92107

hi. no idea what this rant is about; but you certainly have wildly misunderstood the OP.

Hi everybody,

I am French and I live (around 7 months/year) in Vietnam with tourist visas. I had until four bank accounts in Vietnam (I mean : in four different banks).

Little by little, I have been denied the right to open saving accounts. Recently, the last bank where I still had saving accounts began to not allow me to stay with saving accounts any more : when each saving account arrives to its term, all the money is transferred to "sleep" on my current account...

Moreover, my vietnamese Visa card won't be renew at its expired date...

Please, do you know some vietnamese banks where "tourist " foreigners still can open a current account and, after that, open saving accounts and/or get an bank card ?

Thanks in advance :-)

Laurent (Larry)

@john10168

Sorry if this is derailing your question but I had some questions based on your post. You mentioned you opened an account with your wife? Was this a joint account or just 100% in her name. I'm just asking because my wife and I were flat out told that it's not allowed to do a joint account (at least with a foreigner). They kind of implied they didn't exist in Vietnam but may be a translation issue.

Second question are you here on a VEC or a TRC? I'm on a VEC and Vietcombank pretty much told me they didn't want my business since I'm from the US. I've heard others here on a VEC mention they were issued a debit card on a VEC but I haven't had much luck.

I ended up opening an account with Timo but they wouldn't issue me a debit card on a VEC even though I was told by another expat they issued him a card just a year ago. Sometimes it does seem to depend on who the bank teller is that day and what mood they are in. Maybe not but just seems that way.

@Laurent futur Nha Trang

My experience on the Visa cards has been similar but not exactly the same. When my TRC ran out Standard Chartered Bank cancelled my card (they told me well in advance they would be doing it) I can still do transactions on my App & laptop though. However with 2 of my banks I still have use of my cards & just recently renewed my card at one of them even although I am now on Tourist Visa's

All my Vietnamese bank accounts stopped giving me access to Term Savings accounts when my TRC finished.

I have successfully & regularly transferred money between Vietnamese banks.

I have successfully transferred money internationally in & out of Vietnam with two of my banks.

    @Laurent futur Nha Trang
My experience on the Visa cards has been similar but not exactly the same. When my TRC ran out Standard Chartered Bank cancelled my card (they told me well in advance they would be doing it) I can still do transactions on my App & laptop though. However with 2 of my banks I still have use of my cards & just recently renewed my card at one of them even although I am now on Tourist Visa's
All my Vietnamese bank accounts stopped giving me access to Term Savings accounts when my TRC finished.

I have successfully & regularly transferred money between Vietnamese banks.

I have successfully transferred money internationally in & out of Vietnam with two of my banks.
   

    -@goodolboy

Thanks for your answer. Interesting to note that one of yours cards has been recently renewed although you are now on tourist visa. Can you tell me the name of this bank, please ? I contact you by personal post :-)

        Am I the only one who seems to understand that there is a difference between international accounts and domestic accounts? International accounts are totally isolated from the domestic banking system. Domestic accounts can do all of the things that everyone's complaining they can't do, with bank accounts that are almost certainly international accounts. I was once ridiculed about this by a long time member of the forum who insisted there is no such thing as an international account. He's gone dormant now but maybe you should all ignore me on this point.Even if I am right...        -@OceanBeach92107

hi. no idea what this rant is about;

That's ok. No crime in being clueless. You're in good company.

but you certainly have wildly misunderstood the OP. -@john10168

So...you have NO IDEA what I'm talking about, but you are CERTAIN I've "wildly" misunderstood your OP? 

CUL8R...

    @Laurent futur Nha Trang
My experience on the Visa cards has been similar but not exactly the same. When my TRC ran out Standard Chartered Bank cancelled my card (they told me well in advance they would be doing it) I can still do transactions on my App & laptop though. However with 2 of my banks I still have use of my cards & just recently renewed my card at one of them even although I am now on Tourist Visa's

All my Vietnamese bank accounts stopped giving me access to Term Savings accounts when my TRC finished.

I have successfully & regularly transferred money between Vietnamese banks.

I have successfully transferred money internationally in & out of Vietnam with two of my banks.
   

    -@goodolboy

Hello everyone I have to clarify/change a particular statement I made on this post & can only say in my defence "it must have been an age thing & time flies by so fast these days".............................STATEMENT I MADE WAS :_ & just recently renewed my card at one of them even although I am now on Tourist Visa's........................actually  I  checked & I was not on a tourist visa when I got the new card, what happened was I went to my Sacombank  branch in September 2022 & explained  that my TRC would finish end October 2022 & from then on I  was hoping to stay in Vietnam  on a tourist visa so could I get a new debit card early & they did it there & then for me & the card I got then is still in play & good till  09 2027

        @Laurent futur Nha TrangMy experience on the Visa cards has been similar but not exactly the same. When my TRC ran out Standard Chartered Bank cancelled my card (they told me well in advance they would be doing it) I can still do transactions on my App & laptop though. However with 2 of my banks I still have use of my cards & just recently renewed my card at one of them even although I am now on Tourist Visa'sAll my Vietnamese bank accounts stopped giving me access to Term Savings accounts when my TRC finished.I have successfully & regularly transferred money between Vietnamese banks.I have successfully transferred money internationally in & out of Vietnam with two of my banks.        -@goodolboy

Hello everyone I have to clarify/change a particular statement I made on this post & can only say in my defence "it must have been an age thing & time flies by so fast these days".............................STATEMENT I MADE WAS :_ & just recently renewed my card at one of them even although I am now on Tourist Visa's........................actually  I  checked & I was not on a tourist visa when I got the new card, what happened was I went to my Sacombank  branch in September 2022 & explained  that my TRC would finish end October 2022 & from then on I  was hoping to stay in Vietnam  on a tourist visa so could I get a new debit card early & they did it there & then for me & the card I got then is still in play & good till  09 2027
   

    -@goodolboy

That's a great in-context update, and on behalf of everyone, I grant you absolution 🙏

😁😆🤣

You've obviously had a great long-term relationship with the bank, so they did what was legal at the moment. 

But you also highlight an important point about individual banks.

They all are required to follow the limitations of the law, but they are not required by law to be cooperative.

I may have mentioned before that ACB continues to honor my Visa® debit card linked to an international account with them and my USD account remains open and accessible.

But they also made it clear that even though I now have a 3 year spousal TRC, they are not opening any domestic accounts for foreigners in my situation.

In addition to that, under THEIR current rules, when my Visa® debit card (linked to an account opened in 2019) expires in September, 2024, they will NOT renew the card. 

It's unclear if they will allow that account to remain open, but I suspect they will, since they will continue to make good money anytime I wire (I'll pay Schwab a +15 USD fee) in USD (+ ACB fee to receive wire) and then use the ACB FOREX interface to transfer the money into my VNĐ account (+fee;+exchange rate profit), which will then require that I do cash withdrawals inside the bank (+fee)

Agribank has been somewhat more cooperative, opening a domestic account that allows me to transfer funds in my account to my wife without charge, do personal transactions with individual Vietnamese citizens (not just businesses) so I can also transfer cash to our daughters and my inlaws here in Vietnam, pay our landlord, fund my MOCA account for use with GRAB and even receive cash transfers from any Vietnam resident (including my wife) with an account at an authorized bank.

I would only run into problems with international transfers OUT of my account or over-the-counter withdrawals IF I cannot prove the legal source of the funds in my account.

Also, Agribank encourages me to wire directly into my VNĐ domestic account, bypassing one fee for FOREX trading.

However, although two different bank branches have told me I can open a savings account using the Agribank app, so far my attempts have been futile.

That's the one thing that may cause me to open a third account somewhere, once I can establish that opening a savings account will be possible and easy with that bank's app.

Meanwhile, I'm grateful 🙏 for my Charles Schwab Visa® debit card that puts VNĐ into my hands without ANY fees (after monthly rebates) or loss of online exchange rate--which is always ₫200 to ₫300 VNĐ above the official VietcomBank exchange rate for Việt Nam.

It would suck if I didn't have THAT Visa® debit card, because I understand the true cost of wiring funds into Việt Nam, and the limitations of international accounts segregated from the domestic banking system.

(Thanks for letting me "rant" GOB 🙏 😁)

            @Laurent futur Nha TrangMy experience on the Visa cards has been similar but not exactly the same. When my TRC ran out Standard Chartered Bank cancelled my card (they told me well in advance they would be doing it) I can still do transactions on my App & laptop though. However with 2 of my banks I still have use of my cards & just recently renewed my card at one of them even although I am now on Tourist Visa'sAll my Vietnamese bank accounts stopped giving me access to Term Savings accounts when my TRC finished.I have successfully & regularly transferred money between Vietnamese banks.I have successfully transferred money internationally in & out of Vietnam with two of my banks.        -@goodolboyHello everyone I have to clarify/change a particular statement I made on this post & can only say in my defence "it must have been an age thing & time flies by so fast these days".............................STATEMENT I MADE WAS :_ & just recently renewed my card at one of them even although I am now on Tourist Visa's........................actually  I  checked & I was not on a tourist visa when I got the new card, what happened was I went to my Sacombank  branch in September 2022 & explained  that my TRC would finish end October 2022 & from then on I  was hoping to stay in Vietnam  on a tourist visa so could I get a new debit card early & they did it there & then for me & the card I got then is still in play & good till  09 2027        -@goodolboy That's a great in-context update, and on behalf of everyone, I grant you absolution 🙏 😁😆🤣You've obviously had a great long-term relationship with the bank, so they did what was legal at the moment.  But you also highlight an important point about individual banks. They all are required to follow the limitations of the law, but they are not required by law to be cooperative. I may have mentioned before that ACB continues to honor my Visa® debit card linked to an international account with them and my USD account remains open and accessible. But they also made it clear that even though I now have a 3 year spousal TRC, they are not opening any domestic accounts for foreigners in my situation. In addition to that, under THEIR current rules, when my Visa® debit card (linked to an account opened in 2019) expires in September, 2024, they will NOT renew the card.  It's unclear if they will allow that account to remain open, but I suspect they will, since they will continue to make good money anytime I wire (I'll pay Schwab a +15 USD fee) in USD (+ ACB fee to receive wire) and then use the ACB FOREX interface to transfer the money into my VNĐ account (+fee;+exchange rate profit), which will then require that I do cash withdrawals inside the bank (+fee)Agribank has been somewhat more cooperative, opening a domestic account that allows me to transfer funds in my account to my wife without charge, do personal transactions with individual Vietnamese citizens (not just businesses) so I can also transfer cash to our daughters and my inlaws here in Vietnam, pay our landlord, fund my MOCA account for use with GRAB and even receive cash transfers from any Vietnam resident (including my wife) with an account at an authorized bank. I would only run into problems with international transfers OUT of my account or over-the-counter withdrawals IF I cannot prove the legal source of the funds in my account. Also, Agribank encourages me to wire directly into my VNĐ domestic account, bypassing one fee for FOREX trading.However, although two different bank branches have told me I can open a savings account using the Agribank app, so far my attempts have been futile. That's the one thing that may cause me to open a third account somewhere, once I can establish that opening a savings account will be possible and easy with that bank's app. Meanwhile, I'm grateful 🙏 for my Charles Schwab Visa® debit card that puts VNĐ into my hands without ANY fees (after monthly rebates) or loss of online exchange rate--which is always ₫200 to ₫300 VNĐ above the official VietcomBank exchange rate for Việt Nam. It would suck if I didn't have THAT Visa® debit card, because I understand the true cost of wiring funds into Việt Nam, and the limitations of international accounts segregated from the domestic banking system. (Thanks for letting me "rant" GOB 🙏 😁)        -@OceanBeach92107

everything you say just highlights the difference each Vietnamese bank interprets the law & whats good for the goose is not always good for the gander as they say. I quite often look at posts on the forum on banking & scratch my head & think, "thats funny cos it does not work like that for me" The thing is I suppose I am lucky because all my bank accounts here have been in place for a long time now with Standard Chartered being the longest, then Sacombank & lastly VIB. I am repeating myself a bit but............

1.....Standard Chartered followed the letter of the law & when my TRC ran out they stopped my access to time deposits & withdrew my card use but still kept my account open & I can still use it online & with the app.

2......Sacombank stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc. I still have a USD account there too & still can draw USD cash over the counter at my branch (where the girls all know me) but never tried it at another branch.

3.......VIB stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc.

1.....Standard Chartered followed the letter of the law & when my TRC ran out they stopped my access to time deposits & withdrew my card use but still kept my account open & I can still use it online & with the app.
2......Sacombank stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc. I still have a USD account there too & still can draw USD cash over the counter at my branch (where the girls all know me) but never tried it at another branch.
3.......VIB stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc.
   

    -@goodolboy

Good to know about the Standard Chartered app working well.

How about those other banks? Do they have good, user-friendly apps for domestic accounts?

Anyone else reading this (resident with domestic account) able to recommend a good banking app in Vietnam that easily creates and transfers funds into savings accounts?

    1.....Standard Chartered followed the letter of the law & when my TRC ran out they stopped my access to time deposits & withdrew my card use but still kept my account open & I can still use it online & with the app.2......Sacombank stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc. I still have a USD account there too & still can draw USD cash over the counter at my branch (where the girls all know me) but never tried it at another branch.3.......VIB stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc.        -@goodolboy

Good to know about the Standard Chartered app working well.

How about those other banks? Do they have good, user-friendly apps for domestic accounts?

Anyone else reading this (resident with domestic account) able to recommend a good banking app in Vietnam that easily creates and transfers funds into savings accounts?
   

    -@OceanBeach92107

Well Sacombank app suits me just great & its real easy & needs be for a goodolboy. Its the one I use most to be honest. Just recently though I have to turn off the assistant before I can use it for some reason.

VIB app is ok too but I don't use it a lot these days, VIB & Standard Chartered was mainly used when I was transferring money in & out of Vietnam.

To complicate things even more my wifes cousin works for a bank (Nam A Bank I think) and he gets a commision for bringing in new customers. He got a bonus for bringing in "foreign" customers so he wanted us to come in and open an account for me. As he started to ask questions he found out I was a US citizen and thats where the talking stopped and said they couldnt continue. US law has had some major crackdowns on overseas accounts lately and a lot of banks just choose to not deal with it anymore. It involves reporting back to the US on a regular basis and it just adds more manpower than they want I guess. If I was from litterally any other country he would have opened an account for me but because I am from the US its a big no. Not a law stopping them, just company policy. Could be another reason different users get treated different.

    To complicate things even more my wifes cousin works for a bank (Nam A Bank I think) and he gets a commision for bringing in new customers. He got a bonus for bringing in "foreign" customers so he wanted us to come in and open an account for me. As he started to ask questions he found out I was a US citizen and thats where the talking stopped and said they couldnt continue. US law has had some major crackdowns on overseas accounts lately and a lot of banks just choose to not deal with it anymore. It involves reporting back to the US on a regular basis and it just adds more manpower than they want I guess. If I was from litterally any other country he would have opened an account for me but because I am from the US its a big no. Not a law stopping them, just company policy. Could be another reason different users get treated different.
   

    -@jrharvey

True, when opening my most recent account at Agribank, they produced a special US Internal Revenue Service form requiring me to provide my social security number and state my tax status.

I think Agribank deals with that because they were the first bank designated for US direct deposits in Vietnam, back in 2018.

Rick/Budman1 understands this better than me; follow this link & scroll down to his post beginning “As a follow-up on the POMS it appears that AGRIBANK has been designated as the F.I. here in Vietnam to receive the IDDs“.

It seems that most if not all other Banks have the option of adopting the restrictions or avoiding them by rejecting US citizen accounts.

Also as I understand it, if they choose to accept US Benefit direct deposits, the foreign currency exchange happens midstream, so that the money leaves the US Treasury in dollars and arrives at the bank in VNĐ, having been converted at the daily international exchange rate and not at the prevailing exchange rate of VietcomBank, without any additional transfer fee for the incoming deposit.

If I'm wrong about that I'm happy to be corrected but we did have a pretty extensive discussion about it in 2018 and that appeared to be the requirements of the US government to send a direct deposit here.

"Best Banks For Resident Expats..."
    @john10168

...are you here on a VEC or a TRC?    -@jrharvey

That's the key question still unanswered by the OP.

A VEC (5 year Visa Exemption Certificate) doesn't provide the same residency status as a TRC.

It's essentially the same as tourist visa status, only longer.

Banks (those willing) will only open domestic accounts for holders of TRCs, business visas and some other specialized visas, but NOT VEC holders. 

This was my point in my "rant".

The OP is asking about what residents' experience, but it's not clear if he's actually a resident (under banking laws) or only a VEC holder.

    @john10168Sorry if this is derailing your question but I had some questions based on your post. You mentioned you opened an account with your wife? Was this a joint account or just 100% in her name. I'm just asking because my wife and I were flat out told that it's not allowed to do a joint account (at least with a foreigner). They kind of implied they didn't exist in Vietnam but may be a translation issue.Second question are you here on a VEC or a TRC? I'm on a VEC and Vietcombank pretty much told me they didn't want my business since I'm from the US. I've heard others here on a VEC mention they were issued a debit card on a VEC but I haven't had much luck. I ended up opening an account with Timo but they wouldn't issue me a debit card on a VEC even though I was told by another expat they issued him a card just a year ago. Sometimes it does seem to depend on who the bank teller is that day and what mood they are in. Maybe not but just seems that way.        -@jrharvey

ok.

1. TRC
2. no joint accounts. we currently use two Agribank a/cs: one is a legacy a/c that my wife had (she lived in fairly small village hence the Agribank choice), the other is a new Visa card a/c, still in her name, but for my use (and it is the multiple transactions for that account that is creating the grief of absolutely no transaction details available, except date and amount, and no computer access.
3. We checked, and there is no problem apparently creating, say a Vietcom, Visa account in my name - the problem is the very limiting restrictions on its usage for deposits and transfers, eg no transfers from my wife's account to this account, and many others.
4. In fact, when i first came to Vietnam years ago, one of the first things i was able to do was open a Vietcom a/c and i was able to put money into it. now, back then i was very naive and unaware of course, so i have no idea of what actual account it actually was; but we are about to find out as i just pulled out the account record card they gave me, and we are about to go down to the local Vietcom bank, and see what i have, and if it can be used.
5. Otherwise, all we are going to go is to close our Agribank accounts and open the same w Vietcom. my smart SIL uses it, and her job entails her going overseas, and using an international Visa card, so i figure it might be a good choice. of course what native VN can do, quite different to expats.

   
            @Laurent futur Nha TrangMy experience on the Visa cards has been similar but not exactly the same. When my TRC ran out Standard Chartered Bank cancelled my card (they told me well in advance they would be doing it) I can still do transactions on my App & laptop though. However with 2 of my banks I still have use of my cards & just recently renewed my card at one of them even although I am now on Tourist Visa'sAll my Vietnamese bank accounts stopped giving me access to Term Savings accounts when my TRC finished.I have successfully & regularly transferred money between Vietnamese banks.I have successfully transferred money internationally in & out of Vietnam with two of my banks.        -@goodolboyHello everyone I have to clarify/change a particular statement I made on this post & can only say in my defence "it must have been an age thing & time flies by so fast these days".............................STATEMENT I MADE WAS :_ & just recently renewed my card at one of them even although I am now on Tourist Visa's........................actually  I  checked & I was not on a tourist visa when I got the new card, what happened was I went to my Sacombank  branch in September 2022 & explained  that my TRC would finish end October 2022 & from then on I  was hoping to stay in Vietnam  on a tourist visa so could I get a new debit card early & they did it there & then for me & the card I got then is still in play & good till  09 2027        -@goodolboy That's a great in-context update, and on behalf of everyone, I grant you absolution 🙏 😁😆🤣You've obviously had a great long-term relationship with the bank, so they did what was legal at the moment.  But you also highlight an important point about individual banks. They all are required to follow the limitations of the law, but they are not required by law to be cooperative. I may have mentioned before that ACB continues to honor my Visa® debit card linked to an international account with them and my USD account remains open and accessible. But they also made it clear that even though I now have a 3 year spousal TRC, they are not opening any domestic accounts for foreigners in my situation. In addition to that, under THEIR current rules, when my Visa® debit card (linked to an account opened in 2019) expires in September, 2024, they will NOT renew the card.  It's unclear if they will allow that account to remain open, but I suspect they will, since they will continue to make good money anytime I wire (I'll pay Schwab a +15 USD fee) in USD (+ ACB fee to receive wire) and then use the ACB FOREX interface to transfer the money into my VNĐ account (+fee;+exchange rate profit), which will then require that I do cash withdrawals inside the bank (+fee)Agribank has been somewhat more cooperative, opening a domestic account that allows me to transfer funds in my account to my wife without charge, do personal transactions with individual Vietnamese citizens (not just businesses) so I can also transfer cash to our daughters and my inlaws here in Vietnam, pay our landlord, fund my MOCA account for use with GRAB and even receive cash transfers from any Vietnam resident (including my wife) with an account at an authorized bank. I would only run into problems with international transfers OUT of my account or over-the-counter withdrawals IF I cannot prove the legal source of the funds in my account. Also, Agribank encourages me to wire directly into my VNĐ domestic account, bypassing one fee for FOREX trading.However, although two different bank branches have told me I can open a savings account using the Agribank app, so far my attempts have been futile. That's the one thing that may cause me to open a third account somewhere, once I can establish that opening a savings account will be possible and easy with that bank's app. Meanwhile, I'm grateful 🙏 for my Charles Schwab Visa® debit card that puts VNĐ into my hands without ANY fees (after monthly rebates) or loss of online exchange rate--which is always ₫200 to ₫300 VNĐ above the official VietcomBank exchange rate for Việt Nam. It would suck if I didn't have THAT Visa® debit card, because I understand the true cost of wiring funds into Việt Nam, and the limitations of international accounts segregated from the domestic banking system. (Thanks for letting me "rant" GOB 🙏 😁)        -@OceanBeach92107
everything you say just highlights the difference each Vietnamese bank interprets the law & whats good for the goose is not always good for the gander as they say. I quite often look at posts on the forum on banking & scratch my head & think, "thats funny cos it does not work like that for me" The thing is I suppose I am lucky because all my bank accounts here have been in place for a long time now with Standard Chartered being the longest, then Sacombank & lastly VIB. I am repeating myself a bit but............
1.....Standard Chartered followed the letter of the law & when my TRC ran out they stopped my access to time deposits & withdrew my card use but still kept my account open & I can still use it online & with the app.
2......Sacombank stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc. I still have a USD account there too & still can draw USD cash over the counter at my branch (where the girls all know me) but never tried it at another branch.
3.......VIB stopped my access to time deposits when my TRC ran out but did not stop card usage & I regularly use it at ATM & for stuff like flights with Vietjet or even Agoda & also can transfer between accounts, pay my rent etc etc etc.
   

    -@goodolboy

i note your (positive) mention of SACOM Bank for future reference.

i am interested that no-one mentions MB (Military) Bank, yet in the past i heard it was well regarded.

Of course, as usual, it seems that my banking/funds needs are far less demanding/simpler than most all expats.

For various reasons, all i have now is my Age Pension every fortnight, and, atm, that is it. You don't get much simpler than that. :-)

i am interested that no-one mentions MB (Military) Bank, yet in the past i heard it was well regarded.

I don't know much about MB, except that the "M" stands for "military" (joint venture ownership with the Ministry of Defense) and I can get đ5,000,000 VNĐ per pull and withdraw repeatedly up to my ATM card's daily limit during a single visit (10 times for 48 million is the most I've ever withdrawn, when 6 months advance rent was due).

I'm also going to check them out to see if I can at least get all that Agribank provides me PLUS an easy way to open savings accounts.

They have at least one English language webpage:

https://www.mbbank.com.vn/Contact?lang=EN

Of course, as usual, it seems that my banking/funds needs are far less demanding/simpler than most all expats.

Really?

For various reasons, all i have now is my Age Pension every fortnight, and, atm, that is it. You don't get much simpler than that. :-)  -@john10168

I think that's similar to the circumstances of many expat retirees here.

It seemed that you needed to do much more complicated banking when you wrote:

So far, so so so; but the 'killer' was that Agribank, probably because of its roots in small rural communities are just not attuned to any modern banking needs - most critically, they can NOT tell you ANY details (except date/time/amount) for each transaction, ie name or details of who! This is exacerbated  by the fact that you also cannot get a list of transactions (with no details mind) on your computer, or bank statements - only a list of transactions (and a balance on your phone. And finally, even though it is a different bank account, they will only let you use a ONE phone number for notifications - not a separate phone number, ie mine, to get notifications for that account.

My sense is that if your needs are as simple as you imply, you shouldn't have any problem finding a bank that provides satisfactory service.

Did you consider opening your own domestic account at Agribank? If you and your wife both had an account there, it might solve the notification problems you experienced.

Otherwise, I'll keep my eyes peeled for a place that offers detailed financial reports, but I'm thinking you might have to open a business account in order to receive that level of service.

Good luck with your search, and please let us know if you locate a better bank.

Cheers!

O.B.

            @Laurent futur Nha TrangMy experience on the Visa cards has been similar but not exactly the same. When my TRC ran out Standard Chartered Bank cancelled my card (they told me well in advance they would be doing it) I can still do transactions on my App & laptop though. However with 2 of my banks I still have use of my cards & just recently renewed my card at one of them even although I am now on Tourist Visa'sAll my Vietnamese bank accounts stopped giving me access to Term Savings accounts when my TRC finished.I have successfully & regularly transferred money between Vietnamese banks.I have successfully transferred money internationally in & out of Vietnam with two of my banks.        -@goodolboyHello everyone I have to clarify/change a particular statement I made on this post & can only say in my defence "it must have been an age thing & time flies by so fast these days".............................STATEMENT I MADE WAS :_ & just recently renewed my card at one of them even although I am now on Tourist Visa's........................actually  I  checked & I was not on a tourist visa when I got the new card, what happened was I went to my Sacombank  branch in September 2022 & explained  that my TRC would finish end October 2022 & from then on I  was hoping to stay in Vietnam  on a tourist visa so could I get a new debit card early & they did it there & then for me & the card I got then is still in play & good till  09 2027        -@goodolboy

That's a great in-context update, and on behalf of everyone, I grant you absolution 🙏
😁😆🤣

You've obviously had a great long-term relationship with the bank, so they did what was legal at the moment. 

But you also highlight an important point about individual banks.

They all are required to follow the limitations of the law, but they are not required by law to be cooperative.

I may have mentioned before that ACB continues to honor my Visa® debit card linked to an international account with them and my USD account remains open and accessible.

But they also made it clear that even though I now have a 3 year spousal TRC, they are not opening any domestic accounts for foreigners in my situation.

In addition to that, under THEIR current rules, when my Visa® debit card (linked to an account opened in 2019) expires in September, 2024, they will NOT renew the card. 

It's unclear if they will allow that account to remain open, but I suspect they will, since they will continue to make good money anytime I wire (I'll pay Schwab a +15 USD fee) in USD (+ ACB fee to receive wire) and then use the ACB FOREX interface to transfer the money into my VNĐ account (+fee;+exchange rate profit), which will then require that I do cash withdrawals inside the bank (+fee)

Agribank has been somewhat more cooperative, opening a domestic account that allows me to transfer funds in my account to my wife without charge, do personal transactions with individual Vietnamese citizens (not just businesses) so I can also transfer cash to our daughters and my inlaws here in Vietnam, pay our landlord, fund my MOCA account for use with GRAB and even receive cash transfers from any Vietnam resident (including my wife) with an account at an authorized bank.

I would only run into problems with international transfers OUT of my account or over-the-counter withdrawals IF I cannot prove the legal source of the funds in my account.

Also, Agribank encourages me to wire directly into my VNĐ domestic account, bypassing one fee for FOREX trading.

However, although two different bank branches have told me I can open a savings account using the Agribank app, so far my attempts have been futile.

That's the one thing that may cause me to open a third account somewhere, once I can establish that opening a savings account will be possible and easy with that bank's app.

Meanwhile, I'm grateful 🙏 for my Charles Schwab Visa® debit card that puts VNĐ into my hands without ANY fees (after monthly rebates) or loss of online exchange rate--which is always ₫200 to ₫300 VNĐ above the official VietcomBank exchange rate for Việt Nam.

It would suck if I didn't have THAT Visa® debit card, because I understand the true cost of wiring funds into Việt Nam, and the limitations of international accounts segregated from the domestic banking system.

(Thanks for letting me "rant" GOB 🙏 😁)
   

    -@OceanBeach92107

the frequent (positive-ish) mentions of Agribank here and elsewhere make me very curious to clarify.

so are none of you Agribank users having the same critical problem we are having?

ie ...

1. NO transaction details, ie WHO was the debit (or deposit) by, in the app (or even at the bank itself)?
2. NO computer/browser app to view account transactions?

This is the sticking point, and i have discussed with my wife and said it was 'impossible' that the bank can not tell us who they give our money to??? But she has made several trips to the bank to discuss, and the answer is always the same. NO.

so are none of you Agribank users having the same critical problem we are having?

ie ...


NO transaction details, ie WHO was the debit (or deposit) by, in the app (or even at the bank itself)?
NO computer/browser app to view account transactions?


This is the sticking point, and i have discussed with my wife and said it was 'impossible' that the bank can not tell us who they give our money to??? But she has made several trips to the bank to discuss, and the answer is always the same. NO.
   

    -@john10168

Didn't you say this is your wife's card?

Is this a problem your wife was having or did you discover the problem?

It sounds as if you are attempting to do a western-style checkbook reconciliation?

I just checked my AgriBank account in the app and I get all of the "critical" information my wife & I need.

As I mentioned in another reply, I doubt you are going to find the exhaustive features you seek without opening a business account.

Anyway, both my wife & I receive all immediate notifications of any transactions on our Agribank accounts and we both pretty much have our current account balances memorized.

Here's a few suggestions:

Open your own domestic Agribank account with your TRC.

Wire/transfer money to yourself once a month.

Transfer the monthly household/allowance money to your wife's account, free of charge.

Let your wife deal with the management of the household money and you manage what's left in your account.

As long as you totally trust your wife, no need to have her give an accounting of her debits & deposits.

If you must have a Visa® debit card (instead of just an ATM card with the first four numbers 9704) then maybe switch both accounts to a bank that offers that. 

Good luck coming up with a workable solution.

*** Didn't you say this is your wife's card?

this card (w international Visa) is in my wife's name, but only i actually use it (i was surprised but the different names don't seem to cause a prob) for all my many (daily) Internet transactions/purchases/debits.

*** I just checked my Agribank account in the app and I get all of the "critical" information my wife & I need.

critically, does this mean that you can see WHO the transaction was by??

THAT is crazy problem we have. we see NOTHING except amount and date.

Open your own domestic Agribank account with your TRC.

*** Wire/transfer money to yourself once a month.

Transfer the monthly household/allowance money to your wife's account, free of charge.

we do something much easier: normally, we get CASH hand-delivered to our home every fortnight for living and other expenses (or when ever we want) within 12 hours of request

as you know cash is still KING in VN so that works very well.

now, with new Visa card, and normal account, the same business will deposit into those accounts within 12 hours (for about $A3-$A6 ... ditto cash deliveries). so when i know i have some Internet purchases i will transfer money into the Visa account.

    i am interested that no-one mentions MB (Military) Bank, yet in the past i heard it was well regarded.

I don't know much about MB, except that the "M" stands for "military" (joint venture ownership with the Ministry of Defense) and I can get đ5,000,000 VNĐ per pull and withdraw repeatedly up to my ATM card's daily limit during a single visit (10 times for 48 million is the most I've ever withdrawn, when 6 months advance rent was due).

I'm also going to check them out to see if I can at least get all that Agribank provides me PLUS an easy way to open savings accounts.

They have at least one English language webpage:

[link moderated]
Of course, as usual, it seems that my banking/funds needs are far less demanding/simpler than most all expats.


Really?

For various reasons, all i have now is my Age Pension every fortnight, and, atm, that is it. You don't get much simpler than that. :-)  -@john10168


I think that's similar to the circumstances of many expat retirees here.

It seemed that you needed to do much more complicated banking when you wrote:

So far, so so so; but the 'killer' was that Agribank, probably because of its roots in small rural communities are just not attuned to any modern banking needs - most critically, they can NOT tell you ANY details (except date/time/amount) for each transaction, ie name or details of who! This is exacerbated  by the fact that you also cannot get a list of transactions (with no details mind) on your computer, or bank statements - only a list of transactions (and a balance on your phone. And finally, even though it is a different bank account, they will only let you use a ONE phone number for notifications - not a separate phone number, ie mine, to get notifications for that account.


My sense is that if your needs are as simple as you imply, you shouldn't have any problem finding a bank that provides satisfactory service.

Did you consider opening your own domestic account at Agribank? If you and your wife both had an account there, it might solve the notification problems you experienced.

Otherwise, I'll keep my eyes peeled for a place that offers detailed financial reports, but I'm thinking you might have to open a business account in order to receive that level of service.

Good luck with your search, and please let us know if you locate a better bank.

Cheers!

O.B.
   

    -@OceanBeach92107

hi there OB.

thank you for yr comments

(and i just worked out why no Notifications - i had to specifically turn it on for Forum)

let me see if i can pick up on some of yr points

*** as i have noted above - the critical [problem/issue is that Agribank does not/will not list ANY details of WHO has debited your account either on the phone or even directly in the branch. this seems to me borderline illegal: how they just let people take your money from your account and refuse to tell you who?

that is why i am very curious that Agribank has ben mentioned quite positively here IF this problem is universal? ie not just some local problem/ignorance at the local local branch? i just can't see expats accepting that sort of critical problem

*** in the meantime, even my wife is now very angry about this problem (before it never mattered to her and she would  have hardly noticed with no Visa or Internet transactions, and very few transactions at all! except her previous salary and some bank repayments)

and so, with that, we have now 'upped sticks' and moved all our banking to Vietcom such as it is (where i mentioned my smart (pretty) SIL has her account (and contacts)

*** part of MY problem is because of the aforementioned, and a life in little Long Phu, my wife had/has great difficulty understanding the different structure & options of bank accounts. debit cards and credit cards.

*** anyway although we COULD get a Visa card/account in MY name at Vietcom, the restrictions on its usage re transfers etc make it fairly useless and limited. i believe this is fairly std across other VN  banks.

*** and indeed, even with Vietcom (and previously the same at Agribank - except that, there, we had to go especially to a bigger central branch to do so), we had to specifically ask for access to INTERNATIONAL (cf VN) transactions.

*** anyway my wife is now thoroughly fed up with bank inflexibility and difficulties, as well as the Police  - at the same time, she has had to go again and again re some family book issue for DIL, and earlier she had similar probs with getting Police approval adding me to Family Book, because of their incompetence and laziness, and, the new huge wrinkle, the introduction of new - on-line - Police/ID systems, that of course hardly work at all, and are so bad that the Police themselves fob it all off and ask you to (try to) do yourself on-line.  anyway that is of course another different issue :-))

*** so after more time at Vietcom bank, my wife thinks that she has now setup a separate bank a/c with International Visa for me (in her name - but in practice that is much easier and better in use)

( part of earlier problem was that my wife didn't realise that a Visa (Debit) card card had to have an underlying bank a/c - she thought they were two separate things, so earlier the bank just linked it to our main savings account. no no.)

cheers

*** as i have noted above - the critical [problem/issue is that Agribank does not/will not list ANY details of WHO has debited your account either on the phone or even directly in the branch. this seems to me borderline illegal: how they just let people take your money from your account and refuse to tell you who?

    -@john10168

Please forgive me if what I have to say is offensive to you or seems totally impertinent, but the breadcrumbs you've left in this thread have me believing that it's a pretty good bet that a few things are true (by all means, correct me and chastise me if I'm wrong):

Somewhere along the way you decided that you must have the equivalent of a joint bank account with your wife, OR, you simply wanted to be able to double-check her ability to keep the account reconciled.

Either before or after that decision, you began looking for ways for BOTH of you to get immediate text alerts whenever money was "taken" from the account.

When you asked your wife to explain transfers out of the account, there were one or more account debits she couldn't explain.

Thus began the search for ways YOU (not just your wife) could get immediate notifications of account activity and YOU could have detailed statements fully explaining every single transaction in this "joint" account.

Cutting to the chase, most expat husbands of Vietnamese wives will assure you that your wife has always known exact details of every transaction, including who the money was SENT to and WHY it was sent.

Nobody "took" any money from your account without your wife authorizing that the money be SENT to the recipient.

If your wife is claiming that's what happened and she is totally clueless as to the details of any transfer she initiated, it's a totally unbelievable scenario (to me).

However, I wouldn't suggest a confrontation.

Instead, consider what most of us expat husbands do:

We give our wives a predetermined monthly budget, and as long as she covers all expenditures she agreed to cover (groceries, utilities, rent, etc) we never, ever, ask any questions about what she might be doing with any unspent money in the budget.

We never even think about checking her bank transactions.

That's one of the greatest parts of a marriage to a trustworthy Vietnamese woman: you let them handle all the necessary finances and (perhaps) add extra money to send to her family and build her nest egg and that whole financial mess is dealt with painlessly.

But you really do have to trust your wife (or girlfriend/partner) in order for it to work.

Maybe that's a bridge too far for you, but if I'm right (and I do apologize if I'm not) you will almost certainly fail in gaining complete control over the money she spends.

Good luck with the new bank accounts.

😌

🙏

Instead, consider what most of us expat husbands do:

We give our wives a predetermined monthly budget, and as long as she covers all expenditures she agreed to cover (groceries, utilities, rent, etc) we never, ever, ask any questions about what she might be doing with any unspent money in the budget.

We never even think about checking her bank transactions.
    -@OceanBeach92107

I've got a similar routine here, with a slight deviation.

I cover all of the household bills/the entertainment/the trips/the pets/clothing/shoes/whatever, and give her 5million/month to do with as she chooses. I often admonish her for spending money on things which are not intended solely for her. I've told her that whether she spends the money or not, that it is her money to buy things for herself or to tuck away for a rainy day (or perhaps for after my demise).

We've been together coming up on 5 years now, and I have absolutely no idea (nor interest) in how much she's managed to squirrel away.

Works fine for me.