Open foreign banking account - The key for globalization

In the current multinational business environment, one domestic bank account is not sufficient for a company to deal with the money flows from all over the world.

Understanding this, One IBC, the leading international corporate services provider, has continuously improved ourselves over the years and is proud to present to Vietnamese customers the best consultant service for opening a foreign bank account. With many years of experience, One IBC has developed a network of banking partners in several strategic areas, from big, well known multinational banks to smaller local-only banks.

One IBC has many banks as partners

Why is a foreign bank account necessary?

When doing international business, foreign bank accounts allow a company to be flexible, increase their security and reduce operating costs in both domestic and international sections. Opening a bank account also helps make payment and transaction become more simple and faster. When Vietnam is broadening its economy globally, undoubtedly there are many questions about how can Vietnamese open a foreign bank account. Many banks have very competitive prices, financial advantage, better management and service or have applied new fintechs. One IBC can even assist customers in establishing a company and opening a bank account in two different countries, diversifying business activities. Furthermore, One IBC’s service also provide benefits such as:

• Well known bank, easy to do business anywhere in the world
• Support: USD, EUR, GBP, HKD, SGD, CHF and SWIFT/BIC, IBAN/SEPA
• Support credit/debit card and cheque with individual or company’s name and opening an L/C
• Transaction fee can be discounted
• Support foreign exchange and cross border commerce
• Convenient for wealth management and protecting information.

Noteworthy points when open a bank account

Company’s money is accessed through credit/debit card, cheque, online banking or direct withdrawal at the bank. One IBC also assists in opening a multi currency account. When a new currency is in use, the bank will automatically open a side account to prevent any foreign exchange cost.

One IBC’s customer conducting an international transaction

The foreign bank account opening fee depends on the establishment holding the account. Banks usually ask for an initial deposit and there always has to be a significant minimum balance to be maintained.

Simple bank account opening process with One IBC’s partner

One IBC assists in bank account opening with three simple steps:

• Customers complete the form to register for a bank account for their desired bank.
• Customers provide the required documents (depend on the industry and the location of the business).
• After 3-4 working days, the online bank account registration is completed.

With some banks, especially from Hong Kong and Singapore, the process to open a bank account for foreigners requires the owner or the director to go to the bank and have a face to face interview. In this case, One IBC will support by contacting, scheduling and preparing the complete application for the customers before the interview.

DSBCnet Mobile Banking App anywhere, any time

Among One IBC’s top partners, “DSBC Financial Europe” UAB stands out the most. This is a financial institution from Lithuania, operating in most of Europe and providing the best monetary solutions for both individual and corporate customers. With both SEPA and SWIFT, this partner of One IBC has helped more than 1000 customers in opening bank accounts easily and quickly. “DSBC Financial Europe” UAB’s service covers Euro and several other currencies; for shops, online stores and through their mobile banking application.