From March 1, 2026, business households may no longer use bank accounts under individuals’ names

Accordingly, from March 1, 2026, business households are required to use bank accounts bearing their duly registered names and may no longer use payment accounts opened under individuals’ names.

Specifically, Article 4 of Circular No. 25/2025/TT-NHNN adds Point c1 after Point c, Clause 1, Article 13 of Circular No. 17/2024/TT-NHNN concerning information on customers opening payment accounts, including payment account number and payment account name. The designation of the payment account name is prescribed as follows:

• For individual payment accounts, the payment account name shall be designated in accordance with the full name stated on the customer’s identity document.

• For organizational payment accounts, the payment account name must include the name of the organization as stated on the establishment license, establishment decision, enterprise registration certificate, or documents evidencing the lawful establishment and operation of the organization;

• For joint payment accounts, the payment account name shall be designated by the bank or foreign bank branch so as to reflect the names of the account holders and shall not be identical to the payment account name of any other individual or organization.

Pursuant to Clause 2, Article 15 of Circular No. 25/2025/TT-NHNN, the above provisions take effect from March 1, 2026. Accordingly, from this date, business households must use bank accounts bearing their registered names and are not permitted to use payment accounts under individuals’ names.