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ACCOUNT
Attention
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Every socio-economic organisation may open account(s) at Vietcombank. We
offer veriable account types in different currencies and durations.
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Information relating to opening and deposits of accounts at Vietcombank
are kept in strict confidential. Deposit insurance is bought by
Vietcombank at the deposit insurance company.
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Simple and free-of-charge opening procedures. Account management fee is
not charged if the balance in your account is not less than the minimum
level. Account statements are provided on daily basic. Monthly account
statements are provided upon request.
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Having account at Vietcombank, you can easily use non-cash payment
instruments such as checks, payment orders, encashment orders...
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If
you want to withdraw money from your fixed deposit account prior to the
maturity date, you are still offered an interest which depends on the
duration of time the money have been deposited.
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In-house account transfer payment service is proceeded through computer
network free-of-charge with fast and highly accurate level.
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Phone payment service is provided when you want to withdraw cash from
your VND demand deposit account in condition that the withdrawing amount
reaches the level announced by the Bank.
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Special services are provided to longstanding reliable customers, who
maintain big balances: Automatic capital management, automatic money
transfer, E-Bank....
Introduction
1.
Account holder:
a.
No
limitation for opening and using VND account
b.
For
opening and using foreign currency account, following conditions are
applied:
I.
Resident organisation: Account holder must have foreign currency sources
from current-account transactions, capital transaction and other foreign
currency sources stipulated by Law.
II.
Non-resident organisation: Account holder is currently operating in
Vietnam or overseas, who has foreign currency transferred into Vietnam via
banks or cross-border entrance having certification of border custom, and
other legal sources in Vietnam.
2.
Account type
a.
demand deposit account
b.
fixed deposit account
c.
cash-cover account
d.
specialised account...
3.
Currency type
a.
VND or foreign currencies (applicable for: USD, GBP, EUR...)
4.
Deposit/withdrawal
a.
VND
account: account holder is entitled to deposit or withdraw cash and use
non-cash payment instruments such as payment orders, encashment orders,
guarantee checks, transfer checks...
b.
Foreign currency account: Cash, check, transfer
5.
Deposit amount
for foreign currency
account : 5,000,000 VND for VND account or foreign currency equivalent to
500 USD for the first deposit. No minimum requirement for the next
deposit.
6.
Interest
a.
Demand deposit, specialised or cash-cover accounts: interest is
incorporated into principal monthly or on the balance withdrawal date.
b.
Fixed deposit account: interest is paid once at maturity.
c.
Days
for counting interest: interest is counted on the number of actual deposit
days.
d.
Fixed deposit account: At maturity if you do not withdraw, Vietcombank
will:
I.
transfer all principal and interest into new account having new period
upon your request at that moment.
II.
transfer all principal and interest into Current Account if we receive no
notice from you about the maintaining fixed deposit account.
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Special services
With the adoption of
advanced technology into management, Vietcombank has experimentally
provided some special preferential services to special customers.
These are:
1.
“Automatic capital management”
under which capital sources from current accounts of company members
(affiliated/subsidiaries) held at Vietcombank are centralised and
automatically transferred to one central account of parent company. This
will be the base for the parent company to transfer capital source from
low-interest-rate account to the high-interest-rate account while having
maintaining only minimum balance in all members’ accounts to ensure daily
payment requirements as agreed between the parent company and Vietcombank.
2.
“Automatic money transfer”:
If you have cyclical needs (weekly, monthly...) to transfer a sum from
your account to an other account for interest payment, telephone
subscription fee payment, debt payment... the automatic money transfer
service will answer your requirement. You only need to require once and
our system will automatically repeat your requirement cyclically.
3.
“Electronic Banking Service” (E-Bank):
Having on-line network and database centralised management, Vietcombank is
fully able to provide you with E-bank services. Using this service, you
need to have only 1 PC with a modem and you can see the balances in your
current, borrowing, cash-cover... accounts and other related information
without having to go to the Bank. Moreover, after the State pass the legal
base, you can propose to transfer money, open L/Cs while staying at your
office...
4.
Other services as agreed between the two sides:
....
This is a very
appropriate way for Corporations having large capital sources and
country-wide network to use their money most efficiently.
Instructions
1.
Account opening:
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You are provided with
charge-free frinted forms. You will have your account promply with your
own CIF number (customer information file). Having this CIF number you may
require Vietcombank to immediately provide necessary information or you
can open new account (i.e. specialised account).
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If you want to change
information in the account, please use the form for information supplement
(i.e. telephone number, address...)
2.
Application for Account (The 1st
time)
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How to fill the form:
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Please fill in blank space in
the form
Note: This form is only used for the
customer yet to have any account at Vietcombank.
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Normal information is filled
as usual. For new information, please fill as follows:
o
Customer Information File
(CIF): Please write your CIF number given by the Bank in the Application
for Account (The 1st time)
o
Currency type: Please
mark in the box next to the currency name. If the currency type you want
to open the account for is not USD, please mark in the box “others”
o
Information retention: If you
want to keep information in our system even after closing all your
accounts, please mark in the next box the number of years (from 1 to 8)
you want the information to be kept.
o
Hold Mail (Y/N): If you want
to pick up documents at bank, please mark “Y” in the next box. If you want
the documents to be sent to your address, please mark “N”.
o
Alternative address (if
different from the above): Please write the address for sending your
documents and statements if this address is different to that given in the
Application for Account or in your CIF.
o
The Decision of Appointment of
Chief Accountant: In the case your organisation does not have Chief
Accountant, you can replace the decision by the Decision of Appointment of
the person in charge of the organisation’s accounting.
3.
Documents required:
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3 Applications for Account
(provided upon request)
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Notarized photocopies of
documents proving the legal status:
(1)
01 Decision of Establishment
of the enterprise, unit, organisation, association...
In case of Projects: the decision on setting
up Project Management Committee must be enclosed)
(2)
01 Business License.
In case of Projects: The Decree signed by
the two Governments or the approval of the authorised level are needed.
For non-business organisations: documents
describing functions, duties and scope of activities are needed.
(3)
01 Decision of Appointment of
Account Holder signed by authorised level.
For public unions such as Ho Chi Minh
Communist Youth Union, Women Coalition Association... the decision may be
replaced by the proposal of the congress minute of that organisation.
(4)
01 Decision of Appointment of
Chief Accountant or Director of Accounting Department or Accountant of the
organisation.
For foreign company operating outside
Vietnam: If the company’s management is not account holder, apart from
(1), (2) and (3), the following documents are needed:
- an authorisation letter for another person
to be a holder of the account at Vietcombank. The number of persons
authorised to sign in Authorised Signature Application Form must not
excess 2 persons.
- A letter requesting a certification of
using or not using of the company’s stamp in the documents transacted with
banks with 01 or 02 signatures. (documents proving legal status must be
translated into Vietnamese and certified by the State Notary Office)
- A letter introducing the transacting
staff’s name, passport, ID number.
- Banking officers will guide you more
details (if you wish to know)
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4.
How to use your foreign
currency account
1.1.
Credits:
Resident organisation having foreign
currency account at our Bank is entitled to receive foreign currency from
following sources:
- remittance from overseas.
- domestic transfers.
- domestic transfers resulting from issuance
of commercial papers in foreign currency and their interests.
- domestic transfers resulting from buying
foreign currency from credit institutions that are allowed to conduct
forex activities.
- cash deposits (for resident organisation
allowed by State Bank to collect foreign currency through exporting
commodities and services)
- cash deposits (cross-bordered, having
certification of border custom.)
- others in forms of account transfers or
cash deposit having license by the Governor of the State Bank.
1.2.
Debits: Resident organisation
having foreign currency account at Vietcombank is entitled to pay foreign
currency from the account for the following purposes:
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Payment for imported
commodities and services (including related costs arisen.)
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Payment for commodities and
services to individuals and organisations who are allowed to collect
foreign currency.
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Payment for foreign currency
loans (principal, interest and fees and other related costs arisen)
borrowed from domestic banks and and foreign loans in accordance with the
current regulations.
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Sale of foreign currency to
credit institutions who are allowed to do forex business.
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Investment in securities and
commercial papers issued in foreign currency in compliance with
regulations of Law and payment for those’s principal and interest.
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Exchange into other foreign
currency payment instruments: checks, payment cards and others; exchange
into other foreign currencies as regulated by the bank who is allowed to
do forex business.
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Capital contribution for
implementing investment projects as regulated by the Law on Foreign
Investment in Vietnam.
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Transfer foreign currency (of
foreign investor) to outside Vietnam as regulated in the Law on Foreign
Investment in Vietnam and other related regulations.
- Withdrawal of cash, account transfers to
pay for organisation’s staff who are sent abroad, to pay for salary, bonus
and other allowances to non-residents and foreign residents working for
the organisation.
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5.
Fees and interest
4.1.
Fees:
See 1,2,3 (excluding “minimum balance for
personal account” (item b),
Vietcombank terms and conditions
4.2.
Interest rate:
4.2.1.
VND account: (current interest
rate structure)
4.2.2.
Foreign currency account:
(current interest rate structure)
6.
Contacts
For more information, please contact:
1.
Accounting Department –
Vietcombank Operations Center
Address: 198 Tran Quang Khai Str., Hoan Kiem Dist., Hanoi.
Tel: (84-4) 8248-281 – 9349-828
2.
Forex Department - Vietcombank
Operations Center
Address: 198 Tran Quang Khai Str., Hoan Kiem Dist., Hanoi.
Tel: (84-4) 8246-533 – 9343-137 (ext: 0251-0243-0237-0238)
And other Vietcombank’s branches.
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Copyright ©
2001 IT Center of Vietcombank.
All rights reserved. |
