Foreign credit institutions allowed to conduct int’l payments via accounts in Viet Nam from September

The central bank issued Circular No. 39/2026/TT-NHNN to supplement regulations on the use of foreign currency and Vietnamese Dong accounts opened by non-resident foreign credit institutions at authorized banks in Viet Nam, thereby completing the legal framework for correspondent account activities between domestic and foreign credit institutions.

The policy is consistent with international practices and meets the practical requirements of cross-border payment activities amid increasingly deep international integration.

It is expected to facilitate the provision of international payment and money transfer services.

In addition to international payments and money transfers, foreign credit institutions may also conduct collection and payment transactions in accordance with Circular No. 16/2014/TT-NHNN.

Other matters related to the use of the accounts will be agreed upon in writing by the two parties in compliance with Vietnamese law.

According to the Circular, Vietnamese banks must provide guidance to customers, inspect and retain transaction documents, assume responsibility for the services they provide, and fully comply with regulations on foreign exchange management, cashless payments, as well as anti-money laundering and counter-terrorist financing.

Notably, authorized banks must assume responsibility for providing payment and money transfer services through accounts held by foreign credit institutions at those banks, while complying with regulations on cashless payments, foreign exchange management and other relevant legal provisions./.