How Old to Open a Bank Account?

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How old must one be to open a bank account?Dear Law Secretary Editorial Board,My name is Hoai Tam, and I am 16 years old this year. I would like to ask if I can open a bank account in my name now. How does the law regulate this matter?I look forward to receiving advice from the Law Secretary Editorial Board.Sincerely, Thank you!

Pursuant to Clause 6, Article 1 of Circular 02/2019/TT-NHNN stipulating the entities eligible to open bank accounts as follows:

- Individuals 18 years of age or older with full civil legal capacity as prescribed by the laws of Vietnam;

- Individuals from 15 years of age but not yet 18 years of age who are not deprived of or restricted in civil legal capacity;

- Individuals under 15 years of age, individuals with restricted civil legal capacity, and individuals incapacitated to perform civil acts under the Laws of Vietnam may open payment accounts through their legal representatives;

- Individuals with difficulties in cognition or behavior control under the laws of Vietnam may open payment accounts through their guardians.

Therefore, individuals from 15 years of age but not yet 18 years of age who are not deprived of or restricted in civil legal capacity are eligible to open bank accounts.

Respectfully!

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