Banking

Hi,
I think they usually require a work permit to open an account. But if you work here with a business visa instead, your company can make a paper to prove your working experience ensure you will be working here.
If you only have a tourist visa, it might be difficult.... May be with a significant deposit it might work.

I only have a tourist visa and was able to open a dollar account with Vietinbank without any problems at all.  I opened this account last month and had absolutely no problems with my bank in the USA transferring money.

Vietnam has the second most corrupt banking system in the world.  I strongly recommend that you do your banking with a foreign bank.

Mark tat

Hi. I am coming to live there and wish to marry.
Already have a sweet heart lady in 40's I am 55.
Do not want bulk of funds held in US Bank as I see the US heading for a difficult financial stretch. God willing marry my Farmer and we start best live together. Live in Highlands. Simple dream for my last years. Watch children grow ( daughters ) .Babies are teen girls.
So I do not want Fed digging in my funds while overseas. Simple.
Will do volunteer work with children and teach beginning English. Help the babies Grow !!!!

Humble plan. Thanks for reading.

V.V.

Hi VV,

Personally I think your money is safer in a reputable US bank.  Surely there's one you can trust.  Why would the Fed raid your money anyway, I wouldn't worry about it.   

The banks here are on shakey ground to say the least.  AND what if your woman and you find that your incompatible???. That happens here you know.   

Then you have the problem of getting your money out of the country if you decide to take off.  Seriously, you haven't met this woman yet have you ......just emails and skype.   Your putting too much at risk . 
With Internet banking you can transfer money cheaply from overseas banks to Vietnam same day.
Just get a local bank account here to receive the funds and use an ATM card supplied here to access your money OR over the counter .   I do that every few months.

If your lady friend knows you've arrived with a bucket load of cash that will distort the relationship. 

Play it safe mate.

Agree with Yogi007.
Vietnamese banking system is a nightmare to foreigners, most of times.
Just open an account in  international banks here.
I won't recommend Vietnam HSBC 

Thanks Yogi.
Your right about distortion. Never thought about that.
My lady I have spoken with 2 years and the 2 daughters are sweet.
I have been slow coming so now they are ( kids ) getting quiet.
I think they are giving up on me. The lady wanted me yo adopt the daughters but said it would take 5 yrs. ??
Do not know. Just sad now. I have someone in USA to forward mail to me that can use my account to do so.
Just set that up.  Now trying to get airfare selected and flights.  Is tense time.
V.V.

G'day again,
I recall our previous blog posts last year.    You certainly are looking forward to a good life here with kind intentions of a relationship with your new friend.

It can be a good life but remember , all that glitters here isn't always gold. 😄
People will tell you what  you like to hear.   Money can disappear quickly here when guys get into relationships with a family.

Adoption.....??? I suppose then you'll be legally responsible for the expenses.   The mother of those teenage kids will already be planning a good education for them at an International school , and then University at "sugar daddy's" expense.    That will be the first hurdle you'll have to jump financially, and those places here ain't cheap.

I don't want to deflate your enthusiasm but your kindness and generosity will be taken advantage of.  Is it Pleiku your going to..?   Not many expats up that way.     You'll be the great white hope riding into town with a $sign on your back.   You'll be hosting dinners for the masses ,  they'll think your Donald Trump.

Back to topic, MONEY and Banks.    When you first get there , tell them you only have enough money for day to day living expenses.   The bulk of your money is still "tied" up in a retirement fund or whatever and can't be accessed until a later date ( at your choosing).  That's common in some funds anyway.  OK...that will prevent you being on the hook for ballon payments , and loans for big chunks of cash.   Tell them you get "drip fed" your allowance monthly .

Your buying time to asses the situation.  If you've got a credit card, hide it.
Just tell them you can only get large amounts from  your retirement fund for your own personal emergency , ie  Medivac etc.

Sorry for sounding this way but that's been learnt from common sense and seeing so many other guys get taken advantage of.

And there's no privacy or confidentiality in banks here either.  I know for a fact they will tell anyone what's in your accounts here.  Crazy stuff.

So that's why you only transfer via the Internet banking enough for short term living expenses only. 

PS...whoa ....did you say she wanted you to legally  ADOPT her children.   Well, that'll make it a bit easier to get them on a plane to the states won't it. 😳😳😳

Yogi thinks that your domestic banking issues will be the least of your worries. 😄

Mate, it's starting to sound like you'll be the only crop harvested on that farm up there in  Pleiku.

I'll bet she'll want you to go to Pleiku straight up.,soon as you get thru customs .   She won't want you holidaying anywhere because another "claim jumper" will have the opportunity to get first crack at your cash.

Ha ha ha ....yogi loves this stuff.
Good luck VV

You really cheer me up mate.

VietnamVenice3260 wrote:

You really cheer me up mate.

I hope so.   You can live a really good life here provided you are aware of the traps that many fall into.

I've heard so many guys here say " if I only knew then, what I do now" they would never have done some of the things they did.

Have that holiday when you get here.  Nha Trangs a beautiful beachside place and you'll get to meet lots of people and expats that will share their experiences.  And there are lots of pretty girls here too.

You'll be a sitting duck if you head straight to Pleiku.

Don't worry , Yogi can introduce you to some young ladies that would marry you tomorrow.   😄

You feeling better now.   One of them has her own restaurant and icecream shop.

His would be is a very intelligent Vietnamese woman. You cannot overtake her 

Yogi007 wrote:

Don't worry , Yogi can introduce you to some young ladies that would marry you tomorrow.   😄
You feeling better now.   One of them has her own restaurant and icecream shop.

😄  Actually, Yogi has always had bad taste for women. 

He goes looking for a nice quiet girl and usually ends up with a wild and raunchy one......I've never figured out why.😩

Yogi007 wrote:

He goes looking for a nice quiet girl and usually ends up with a wild and raunchy one......I've never figured out why.😩

Sorry to hear that Yogi! I always think you are a wise man, but maybe after meeting those girls.
I still remember, in Vietnamese, we have a proverb: anh hùng cũng khó qua ải mỹ nhân. It means, even you are very talent, very good at many things, you will still be cheated by women.
Why so many men always think women are stupid, or not smarter than men?
I think, if a woman wants something, she will try as much as she can to get it . And men never know about that!
That's why, need to have a GOOD woman; she will be good even when you don't have anything; if not, your life really starts after wedding .

Yogi

I just want nice wife. No games. Tired of games okay. I have friends here that laugh about Vietnam. Laugh. Then they go home to angry Feminist fat wives that treat them terrible.
Poor fools. They don't even have good sex.

The American way. Hu ahh ~

😄😄. Aaahhh....your a funny girl Miss Ngattt.

So life begins after the wedding.??   Hilarious.😄

They say the best contraceptive is wedding cake.... 

Maybe if Yogi stops wearing loud shirts he might attract nice quiet women.

But until that happens I'll just have to struggle along entertaining wild and raunchy women😄😄😄

VietnamVenice3260 wrote:

Yogi

I just want nice wife. No games. Tired of games okay. I have friends here that laugh about Vietnam. Laugh. Then they go home to angry Feminist fat wives that treat them terrible.

VV, who don't want to have a nice wife? But in fact, you are foreigners, you are the target of many bad people here. I can say, many Vietnamese people here are quite friendly, they treat foreigners much better than they treat Vietnamese, but, like every developing country, also, there are a lot of bad people, they just want your money. 
So, just try to be careful as much as you can. Keep your heart is hot, but your mind is cold, and always doubt everything.

Just wanted to add some wise cracks to Ngattt statement:
Every (true) man wanted a good wife. Period.
But look at what happened to Adam when Eve was "created" by GOD.
All man lives in dream state of mind until he married.

btw, "Keep your heart is hot, but your mind is cold, and always doubt everything."
Correctly should state as "Keep your heart is hot, but your mind is COOL, and always doubt everything."
TVBZ28

TVBZ28 wrote:

All man lives in dream state of mind until he married.
TVBZ28

Hey hey, I doubt it. I hope my 5 years-marriage was not a nightmare for someone who still could do whatever he wanted, could go out for drink with his friends whenever he wanted, could keep all his money and I never know how much he had ...

But because I always keep my mind so COOL, it also means I am a very cold person, when I make a decision, and not easy to change my mind, if I think its right. And I was not good in showing my love for others, I thought my actions is louder than my words, but in fact, life is not easy like that; people need both actions and words.

Guys you are going off topic 

Back on topic - I am only a recent expat but this is what works for me.

> " I have someone in USA to forward mail to me that can use my account "

Huh? Mail? Sending money? I never use the post for anything except sending pictures to my aged aunt who isn't online. My suggestion (for Americans only):

1. Open a free checking account at Schwab. No currency transaction or ATM fees, google it, everyone who reviews says it is the best.  Put almost all of your cash there. Also if you have retirement or brokerage accounts, you can consolidate them there, and move money between accounts online.

2. Get a good credit card that pays you back 2% on purchases, and low/no foreign transaction fees. I use CapitalOne, maybe others. Tell them you want a 'chip' card with a PIN number for security. These are international features. Not popular yet in the behind-the-curve US banking system.

3. A second backup ATM card can save you when your main ATM card gets put on hold or cancelled. That will happen the day before your rent is due. So just put some money in another free checking account with a minimum balance, and get the ATM card. This is only for emergencies so don't worry about transaction fees. CapitalOne, Ally, others have low fees.

4. Bring some US cash, at least a few thousand but less than $10k. There are times you will need it. (You can just squirrel it away and watch its value increase against local currencies.) Brand new $100 bills are easiest to exchange. Must be immaculate, no tears at all, even banks here will not accept a tiny tear. The new $100s are the worst designed money, that blue plastic stripe in the middle? the paper tears at the top and bottom. Check every bill.

5. When you are here, use the credit card whenever possible. You will get 2% back in your credit card account and the currency transaction rate is good. When you need cash, go to a Citibank or Commonwealth Bank (Australian) ATMs. You can withdraw 8 M VND (~$400) from Citibank, 7 M VND I think from Commonweath. Vietnamese ATMs work too, but limit to 2 M VND. Perhaps you can make multiple withdrawals in a day, I haven't tried that.

6. Pay off your credit card online once a month, from your checking account. You are bringing a laptop, yes? If you get money from other US sources (friends, family, selling stuff) they can deposit to your checking account.
Don't mail it, don't send checks, do everything online!
Sorry no dating advice or female bashing from me...

Vietnam will allow you to bring in amaximum of US$5000 cash, or equivalent in gold, jewellery, etc. Anything above that could be confiscated at the airport. one unlucky traveller lost US$95,000 of her US$100,000.

Ngatt

Is true we idolize what human condition calls love.
What is caring ? I can only say if your " man " is there when you are sick, if he is there when hale when rains fall like from a pail. When you dance together and laugh as the roof leaks buckets
Then ...
You have a man that can truck it. In shade and heat night and day ... Your heart must find a way.
Cool of mind warm of hand... The heart falls where it may.
Never live like a machine, never be divorced from reality.
Then the color bleeds and meaning leaves, then grey just is all you hold. Hold as we all mortal shall grow old.
As every dream ended by waking is every breath ended by taking. As we pass. We all pass.

So let a riot be joy bubble up happiness be.
Breath deep until filled and smile at glad words.
Give an elder a hand, a child the smile and see the color of life ... Awhile.
Find a man and clasp his hand. Age shall hew and form you, yet hold his hand.
Let the color bleed into your soul, fill it and: Live.

Else all we hold when aged and old is grey husks and moments still silent ... Cold.

Let the color of your heart bleed. Be bold!

Live.  V.V.