Skip to content

🇻🇳 Sending to Vietnam

VN · VNM · +84 · Southeast Asia

VND

FATF grey list   National format   SWIFT BIC required

← Back to Country-specific guides

FATF Increased Monitoring

This jurisdiction is on the FATF list of jurisdictions under increased monitoring. FATF does not call for enhanced due diligence on that basis, but asks institutions to take the listing into account in their risk analysis.

Required information

  • Account number

    12-14 digits depending on bank (Agribank/Vietcombank: 13; Techcombank/BIDV: 14; Vietinbank: 12 alphanumeric). Some banks let customers choose.

  • SWIFT BIC

    Beneficiary bank BIC (8 or 11 characters).

  • CITAD

    8 digits (SBV interbank settlement system code)

  • Purpose-of-payment code (mandatory)

    1-digit Purpose of Payment code (1=Export Revenue, 2=One-Way Payment, 3=Foreign Direct Capital Injection, 4=M&A Settlement, 5=Foreign Indirect Investment - Equity, 6=Foreign Indirect Investment - Bonds, 8=Onshore Foreign Currency Borrowing Disbursement, 9=Funds Transfer from Foreign Remitter to Vietnamese Beneficiary).

  • Beneficiary address

    Match the address template — partial addresses cause holds.

For your end users

Vietnam: Use the 1-digit Purpose code (1, 2, 3, 4, 5, 6, 8, or 9 - no 7). Foreign Indirect Investment Account (FIIA) payments are not permitted. The beneficiary must be onshore.

Real-Time Alternative

Napas 247

Last reviewed by GIB compliance on 2026-05-20. Reference material only.

  • Currency

    VND

  • Typical settlement

    2-3 business days; longer if non-VND requires supporting documentation.

  • SWIFT BIC

    Required

  • Local clearing

    CITAD / Napas 247

Account format

How beneficiary account numbers are structured for Vietnam. Failure to match this format is the single most common reason wires are rejected at the destination.

Field Value
Format tier National format
Length 12-14 digits depending on bank (Agribank/Vietcombank: 13; Techcombank/BIDV: 14; Vietinbank: 12 alphanumeric). Some banks let customers choose.

Routing identifiers

Which routing codes the wire-creation API call must include for Vietnam.

Field Value
SWIFT BIC Required
Branch identifier Required
CITAD Required
Format 8 digits (SBV interbank settlement system code)
Directory ↗ Source
Local clearing CITAD / Napas 247

Address format

How Vietnam expects the beneficiary address to appear on the wire. Free-form variations frequently trigger compliance holds.

  1. House Number
  2. Street Name
  3. Ward/Commune
  4. City/Province
  5. Postal Code
  6. Country
Field Value
Postal code Optional — this country has no postal code format
Example 29 Pham Ngoc Thach Street
Phuong Tan Hung
Ho Chi Minh City 700000
Vietnam

Purpose of payment

Put the country's own code in <Purp><Prtry> (purpose_code_proprietary). Requirement: Mandatory GIB check: a missing or unexpected purpose is reported as a validation warning; the wire is not held.

Not yet confirmed

We have not yet confirmed this country's purpose-of-payment requirement against a central-bank or correspondent-bank source. Including a purpose is recommended. We update these guides as we confirm each country.

Field Value
Code format 1-digit Purpose of Payment code (1=Export Revenue, 2=One-Way Payment, 3=Foreign Direct Capital Injection, 4=M&A Settlement, 5=Foreign Indirect Investment - Equity, 6=Foreign Indirect Investment - Bonds, 8=Onshore Foreign Currency Borrowing Disbursement, 9=Funds Transfer from Foreign Remitter to Vietnamese Beneficiary).

Available codes:

1-digit codes (FX only): 1 = Export Revenue; 2 = One-Way Payment; 3 = Foreign Direct Capital Injection; 4 = Settlement for M&A Activities; 5 = Foreign Indirect Investment - Equity; 6 = Foreign Indirect Investment - Bonds; 8 = Onshore Foreign Currency Borrowing Disbursement; 9 = Funds Transfer from Foreign Remitter to Vietnamese Beneficiary. (No code 7.) For tax payments, also include tax code, chapter, and item number in remittance_info.

Remittance info

Extra content the regulator requires inside the free-text remittance field, beyond the purpose-of-payment code.

For tax payments, specify full tax details (tax code, chapter, item number) in remittance_info.

Compliance triggers

Beneficiary tax-ID requirements and rules that activate at certain payment amounts.

Trigger Requirement
Residency restrictions Beneficiary must be an onshore resident or hold a non-resident account denominated in VND.

Operational notes

Field Value
Currencies accepted VND, USD
Typical settlement 2-3 business days; longer if non-VND requires supporting documentation.
Banking holidays ↗ Calendar

Known issues:

  • Payments cannot be made to Foreign Indirect Investment Accounts (FIIAs).
  • For individual recipients, include beneficiary date of birth.

Common rejection reasons

Documented patterns that cause this country's banks to return wires. Universal reasons (sanctions holds, missing BIC) aren't repeated here.

Payment routed to a Foreign Indirect Investment Account (FIIA) - not permitted.
Missing 1-digit Purpose of Payment code (FX only).
Non-VND foreign-currency payment without supporting documentation explanation.
Beneficiary not an onshore resident or VND non-resident account holder.
For tax payments, missing tax code/chapter/item number in remittance_info.
Sanctions or compliance hold.

Validate before you send

Check identifiers before you submit. The IBAN check runs in your browser (format plus the ISO 13616 MOD-97 check digit). GIB's API checks the IBAN format for countries where an IBAN is required. The BIC lookup searches GIB's BIC directory and needs a dashboard login.

BIC lookup

Loading…

References

First-party sources — central banks, FX regulators, ISO registries. Always re-verify against these before pushing volume to a new corridor.

Disclaimer

These country guides aggregate information from central banks, regulators, and industry-standard references. Global Innovations Bank reviews them on a rolling cadence and notes the verification date on each page. Payment-corridor rules change between releases, so we cannot guarantee continued accuracy.

Always verify against the primary sources linked in the References section before going live in a new corridor. Re-check applicable sanctions lists (OFAC, EU, UK, UN consolidated, and any state-level requirements) at the time of payment, since designations shift between our refreshes.

For fintech partners on GIB's sponsor-bank rails, these guides do not replace your BSA/AML, KYC, sanctions-screening, or transaction-monitoring obligations under your program agreement with GIB.

Nothing in this material constitutes legal, tax, or regulatory advice, and wire-acceptance decisions remain at the discretion of GIB Compliance and the destination bank.

← Back to Country-specific guides