A survey in the South East Asian countries has found that the number of bank accounts of expatriates has increased significantly over the last few years. And, Vietnam is that southeast Asian country which has got a big boost in its financial sector due to the high number of bank openings by expats.
As people from different countries are shifting to Vietnam for employment or retirement purposes, they are applying for bank accounts in Vietnam to make cheap financial transactions on a daily basis. The expenses for expats to transact with the bank account card of their native country is very high. So, in order to avoid the high fees in ATM, international wire, they are opting for a way to open a bank account in Vietnam. One can visit this website to collect more information about choosing the best bank account.
The high speed of opening a new bank account is the prominent reason why people are going for opening a bank account in Vietnam. Another popular reason which facilitates the opening of a bank account in Vietnam is the easy procedure of setting up a bank account in the South East Asian country. Hence, the low demand of Vietnamese banks to open a bank account helps to open an account in foreign or local currency as per the convenience.
People who stay in Vietnam for a short or a long time span get an opportunity to transfer their funds internationally without paying high fees. In addition to this, they can simply avoid paying a high sum for ATM fees in carrying out daily transactions.