What is a Payment Account?
A payment account (also called a current account or transactional account) is a bank account specifically designed for day-to-day financial transactions. Unlike savings accounts, it offers unlimited deposits and withdrawals, supports direct debit mandates, standing orders, card payments, and electronic transfers with no lock-in period.
Requirements for Individuals
- Valid government-issued photo ID (passport, national ID card)
- Minimum age requirement (typically 18, or lower with parental consent)
- Proof of address in some jurisdictions
- Initial deposit (varies by bank, may be zero)
Requirements for Businesses
- Certificate of incorporation or business registration
- Articles of association and company seal
- Identification of all authorised signatories and beneficial owners
- KYC/AML documentation as required by regulation
Online Account Opening
Many Vietnamese banks now offer fully digital account opening via mobile app (eKYC), allowing businesses and individuals to complete the process within minutes using facial recognition and ID document scanning, without visiting a branch.
Vay vốn kinh doanh
Hiểu rõ thuật ngữ tài chính giúp doanh nghiệp chuẩn bị hồ sơ vay vốn tốt hơn và tăng khả năng được phê duyệt khoản vay. Đăng ký so sánh lãi suất từ nhiều ngân hàng qua BizLoan.