REGULATIONS ON THE OPENING AND USE OF CURRENT ACCOUNTS APPLICABLE TO INSTITUTIONAL CLIENTS

Eligible clients
Organizational clients legally established and operating under applicable laws, including: (Vietnamese and non-Vietnamese) organizations, private enterprises, business households, and other organizations permitted to open current accounts in accordance with applicable laws and regulations.

Account opening documentation
 • Agreement on opening and use of current account and service registration (as per ACB’s form);
 • Documents of the organization:
   - Legal documents evidencing lawful establishment and operation (e.g., Establishment decision, Operating license, Business registration certificate, Enterprise registration certificate, etc.); or legal information available in the organization’s electronic identification account;
   - Charter/Organizational internal rules, Operational internal rules, and Financial internal rules;
   - Documents evidencing the legal representative’s authority, accompanied by identification documents of such representative(s);
   - Appointment decision or Employment agreement of the General Director/Director;
   - Appointment decision of the Chief Accountant or Officer in charge of accounting (if applicable), along with their identification documents;
   - Documents and data relating to the founder(s);
   - Documents and data relating to the beneficial owner(s);
 • Other documents, information, or data as may be required by ACB.

Account opening procedure
For clients:
   ˗ The organization provides ACB with all required documents to open a current account.
   ˗ The legal representative of the organization registers biometric data and confirms that the legal representative’s phone number registered for transactions with ACB matches the information on their identity documents (*).

For ACB:
 (i) ACB shall check the legality and validity of the documents to ensure consistency and accuracy;
 (ii) Meet and guide the legal representative of the organization to complete the step (*)
Note: In-person meeting and biometric verification may not apply to clients who are:
   ˗ Government agencies, public service units;
   ˗ Credit institutions, foreign bank’s branches;
   ˗ Listed organizations under the Law on Securities;
   ˗ Organizations being one of the Fortune Global 500 as published by Fortune magazine in the previous year;
   ˗ Foreign investors who are non-residents conducting indirect investment in Vietnam.
   ˗ Other organizations as regulated by ACB.
 (iii) After the client agrees to the terms of the Agreement on current account opening and use, ACB will open the current account, notify the client of the account number, account name, activation date, and guide the client on how to use it.

Notes on account opening and use
The opening and use of current accounts shall comply with Circular No. 17/2024/TT-NHNN on regulations for account opening and use at payment service providers, and Circular No. 25/2025/TT-NHNN, which amends certain provisions of Circular No. 17/2024/TT-NHNN