credit check vietnam

Member since 26 March 2010

vosprinceNew member17 October 2011 20:58:44

Hi, does anyone know how to get a credit check in Vietnam from overseas, having lived there for a while? my bank is looking for it in Europe

Sean.

laidbackfreak Serial expat

Member since 10 August 2010

laidbackfreakSerial expat18 October 2011 01:03:01

976

you want the check to be carried out in which country? Personal or business?

vosprince New member

Member since 26 March 2010

vosprinceNew member19 October 2011 16:25:40

Hi laid back,

I want a personal check to be carried out in Vietnam. Got any ideas?

Cheers!

laidbackfreak Serial expat

Member since 10 August 2010

laidbackfreakSerial expat20 October 2011 03:43:27

976

Ok there's no such thing currently here in Vietnam. You have to keep in mind banking here is still fairly under developed compared to the west and on top of that no one shares any kind of information.

vosprince New member

Member since 26 March 2010

vosprinceNew member20 October 2011 06:09:25

Ok I see, sort of thought that may be the case, thanks for your help anyway.

Bank accounts for expats

Discover the best international banks to manage your money securely.

Learn more

Jaitch Guest

JaitchGuest24 November 2011 00:43:19

vosprince wrote:
Hi laid back,

I want a personal check to be carried out in Vietnam. Got any ideas?

Cheers!

One way to build a 'credit record' is to set up accounts with VNPT (cable and InterNet) or just cable (HTV-SCTV). You have to produce your Passport, Visa and lease.

EVN are Neanderthals and require even more docs. HCMC water is a nothing.

VN citizens credit records exist but as a Foreigner, you are just passing through.

Since a lot of business in VN is strictly cash (mainly for tax purposes) it is the personal relationship that matters more/ I have found it's easier to get credit from ethnic Chinese than VN.

I have a couple of mini-hotels and a regular business here and I have made a point to be first in line to pay the VAT. The tax man gets to know you and leaves you alone. This leaves them free to chase down VN who never, ever pay on time - even big hotels.

Another example. I use used the same (government owned) hotel for 5 years, even renting a room when I was out of town, but with clothing there. For the longest time they insisted I pay weekly, which I refused to do, instead paying on the last day of every month (day be tax is due). After a year they agreed monthly was OK.

If you know what to look for there are guys driving around with hundreds of MILLIONS of Dong. EVN has a few as do other large companies. They go out and settle accounts - in cash. The law requires payments over USD$3,000 be by bank, even government structures (divides) payments into sub-$3,000 amounts.

Most VN businesses will happily give you their banking info so you can make a deposit at any branch.