VND – Vietnamese Dong
This currency is considered to be restricted, which implies an inherent limitation to the tradability of this currency. Fund transfers in this currency are not allowed outside of Vietnam and payments cannot be made to Foreign Indirect Investment Accounts (FIIAs). In some cases, the beneficiaries might be required to sign documents to authorise the release of funds.
In Vietnam, the name order is the following: surname (1), middle name (2) and first name (3). Please make sure to follow this structure when intructing the beneficiary name to avoid payment delay/rejection. In addition, instructions with Mr/Mrs/Ms in the beneficiary name should be removed in order to avoid payment delay.
- Currency Guidelines
Besides the standard information, a clear reason / purpose of payment is mandatory and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.
Example: Payment of travel expenses – invoice n° 123456789
In case of tax payments: the tax code, tax chapter and item number are mandatory and should be added to the remittance information.
This currency does not have any decimal places.
- Instructions, technical guidelines & more
To consult the Technical Guidelines of this currency, click hereTECHNICAL GUIDELINES
- Additional information
• Available charge options: OUR/SHA/BEN
• A lot of beneficiaries hold a USD account locally (common practice in Vietnam). Please ensure that the beneficiary’s account number given by the customer is a VND account and not a USD account.
• Central bank of Vietnam: http://www.sbv.gov.vn/