Business households allowed to open payment accounts at banks

SGGP
Organizations without juridical entity which are legally established and operating are allowed to open payment accounts at banks and branches of foreign banks as of March 1.

Business households allowed to open payment accounts at banks

According to Circular 02/2019/TT-NHNN which revises Circular 23/2014/TT-NHNN about opening and using payment accounts at payment service providers, organizations without juridical entity consist of private companies, individual business households and other organizations including branches, representative offices and law offices.
Earlier, the State Bank of Vietnam only allowed organizations with juridical entity to open payment accounts at banks and branches of foreign banks.

By Quang Minh – Translated by Thuy Doan

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