Bank of America to open HCMC branch (2024)

FAQs

Bank of America to open HCMC branch? ›

Bank of America is completing procedures to open its second Vietnam branch in Ho Chi Minh City after the first in Hanoi 27 years ago. The San Francisco-based bank debuted its Hanoi branch in February 1995, one month after New York-headquartered Citibank launched its Hanoi branch.

Bank of America has decided to shut its Hanoi branch and will wind down its Vietnam operations by the end of next month, a member of its staff said Tuesday. The staff member said the bank's U.S.-based head office had decided to end operations in Vietnam to reduce costs.

U.S. Banks & Local Correspondent Banks

There are five U.S. banks and financial institutions operating in Vietnam. Citibank and Far East National Bank have branches, Wells Fargo and Visa International have representative offices, and JP Morgan Chase has both a branch and a representative office.

No we do not have BOA atms here but vast majority of local machines will take your card ( possibility for a good few days "-) Cash is king here and you will get the best exchange rate with no bank fees. Bring a few cards for big bills or emergencies.

Branches for JPMORGAN CHASE BANK, N.A., HO CHI MINH CITY BRANCH in Viet Nam. Below you can find the local branches for JPMORGAN CHASE BANK, N.A., HO CHI MINH CITY BRANCH in Viet Nam.

Bank of America is completing procedures to open its second Vietnam branch in Ho Chi Minh City after the first in Hanoi 27 years ago.

Yes, you can use your Bank of America debit or credit card internationally. However, you may incur foreign transaction fees and exchange rate charges, so it's best to check with Bank of America before traveling to determine any potential fees and to ensure your card will work abroad.

Can a foreigner open an account in Vietnam? Foreigners who are resident in Vietnam and hold proper legal documents for a stay of at least 12 months can usually open a bank account with a traditional bank.

HSBC is the best foreign bank

HSBC (6.4) remains the top foreign bank in Vietnam. The bank has led the foreign bank ranking for two consecutive years. It was also ranked among the top 10 satisfying banks in Vietnam in 2023. Shinhan Bank (5.2) secured the runner-up position.

What can you buy with $100 usd in Vietnam? ›

Cash withdrawal and exchange

ATMs are a common sight in Vietnamese cities, and you should have no trouble locating one in most destinations. International cards such as Visa are accepted at more than 20,000 ATMs nationwide. If you need help finding the nearest ATM, just ask your hotel.

You can send bank transfers to any bank in Vietnam.

Operating in Hanoi and Ho Chi Minh City, our franchise in Vietnam has expanded from treasury services to include corporate banking, foreign exchange and money markets. Our offices link to our global network, which facilitates the delivery of sector and product expertise to the government's economic reform initiatives.

Chase current account and card fee⁵

As you can see, there are no additional Chase fees for using your card overseas. You'll need to watch out for extra charges applied by ATM operators abroad - usually you'll see a message on the screen if a fee applies, and you can then pick a different machine if you want to.

We don't charge fees when you use your card abroad and we'll apply the current Mastercard exchange rate to any purchases you make in the local currency. Local banks may charge their own fees when you use one of their cash machines and you should make sure you understand what these are before making a withdrawal.

In commercial banking, Bank of America operates—but does not necessarily maintain—retail branches in all 50 states of the United States, the District of Columbia and more than 40 other countries.

Vietnam International Commercial Joint Stock Bank, abbreviated as Vietnam International Bank (VIB), is one of the leading joint stock banks in Vietnam. Established on September 18th 1996, VIB started its operation with initial charter capital of VND50 billion and 23 staffs.

We have local offices in more than 35 countries around the world and provide access to more than 140 currencies across 200 countries and territories.