List of major US banks (USA) in Vietnam growing in the Vietnamese market. So do you know the names of these banks yet? Check out the information below!
Table of Contents
Summary of some features of major US banks in Vietnam
The list of major US banks in Vietnam includes:
- JP Morgan Chase Bank
- Wells Fargo Bank
- Far East National Bank
We all know the US is a market with a strong economy with a large and developed population. American banks all focus on issues directly related to the economy, ensuring the safety of cash transactions and through diplomatic US banks, etc.
The US dollar is the most used currency in transactions. Besides, some countries use the US Dollar as their own, legal currency.
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Currently in the US market there are many types of banks such as:
- Community Development Bank
- Central bank
- Consulting Bank
- Commercial Bank
- Investment bank
- Agricultural Bank
- Private bank
- Overseas Bank
- National Bank
- Savings Bank
- Universal Bank…
Corresponding to each type of bank, there will be different types of bank accounts:
- Deposit account
- Business account
- Money market account
List of American (USA) banks in Vietnam
This is the first US bank licensed to operate and set up a transaction office in Vietnam. With Swift Code, CITIVNVX is headquartered at floor 1, 17 Ngo Quyen, Hoan Kiem, Hanoi.
Citybank is an international bank established in 1812 belonging to the third largest Citigroup. The bank was present in Vietnam market in 1993. The network is quite strong and financial activities in 2 areas are banking sector. retail and corporate banking.
Banking services include:
- Saving money deposit service, implementing attractive policies and incentives.
- Maximum loan service with loan from 500 to 600 million, low interest rate incentives
- Multi-card services such as ladder account, credit, universal, global and debit cards are copyrighted by the bank
- Modern electronic services applying advanced and modern technology
- Insurance services for individuals such as non-life and life
Wells Fargo Bank
Wells Fargo Bank is a large bank in the US and has a branch in Vietnam. Customers can easily make all domestic and foreign money transfers. The bank’s working time is according to office hours like banks in Vietnam.
Services and products at Well Fargo American bank in Vietnam:
- Insurance packages
- Banking and Finance
- Unsecured loans, home loans and car loans
- Money transfer service from Vietnam to the US and vice versa
JP Morgan Chase Bank
JP Morgan Chase Bank is a bank with the abbreviation JP Morgan. The bank office was opened in Ho Chi Minh City with 99 years of operation and development. Therefore, when mentioning the name of this bank, many customers are very satisfied.
Some information about JP Morgan Chase Bank:
- Representative office is located on the 15th floor, Sai Gon Tower, 29 Le Duan, District 1, Ho Chi Minh City
- Representative: Phan Bich Van
- Tax code: 0301859045
Far East National Bank
This is a bank established in 1974. It is the first federally chartered Asian bank in the United States. The bank has more than 600 employees with total assets of more than 1.7 billion USD.
This is just a subsidiary of Sinopac bank of Taiwan in 1997. The bank’s branch in Vietnam is called SinoPac in Vietnamese in Ho Chi Minh city.
Conditions and procedures for opening a US bank account
To meet the conditions and processes open a US bank account in Viet Nam. Customers need to grasp the following:
- Prepare documents such as: US residential address, personal information, contact, passport or other settlement papers, valid visa vision…
- Compliant with Social Security, but there are already some US banks that accept applications for opening bank accounts that do not require a social security number.
- Vietnamese people opening a bank in the US can accept individual taxpayer identification, the type of number supported for each foreigner and individual who is not eligible for SSN.
In addition, you need to pay attention to comply with the laws governing opening a bank account of this country. A dense population, a strong economy will lead to higher human needs, so currency transactions are a lot. The top big banks in the US need to always try to grow and tighten their security.
Customers can easily open a bank account directly at US branches and transaction counters in Vietnam. You can also Open an online account to have your bank confirm your personal information.
Instructions for receiving and transferring money from US banks
Money transfer procedure
Register to use services, customers in Wells Fargo transaction points in the US. To carry out the registration procedure, you need to provide information including your full name, address, ID/CCCD or passport number, US bank account number in Vietnam or a linked Vietnamese bank account .
For the first transaction, customers need to go directly to the direct branch to transfer money. For further transactions, customers can choose to transfer money at branches, Internet Banking, direct phone calls, etc.
To make a money transfer, the bank can provide customers with a receipt, a money transfer code. The sender will notify the recipient of the remittance code.
Procedure to receive money
To receive money, customers can quickly go to transaction offices of Vietinbank, Vietcombank, Techcombank, etc. nationwide and follow instructions from bank staff.
Recipients need to present identification, provide the correct remittance code. The recipient receives the full amount sent by the relative without paying any fees.
Service fees at US banks in Vietnam
Fees will vary from bank to bank. US bank charges will typically include daily service fees, service charges, and many other free payments.
In addition to the monthly service fee, American banks in Vietnam also charge ATM withdrawal service fees. Customers can easily make withdrawals at ATMs in US banks.
See more: List of Korean banks in Vietnam
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