Instructions for bilateral payment and money transfer between Vietnam - Laos
The State Bank of Vietnam issued Circular 04/2024/TT-NHNN guiding bilateral payment and money transfer activities between Vietnam and Laos.
This Circular stipulates the contents related to foreign exchange management for payment and money transfer activities in the purchase and sale of goods and provision of services between Vietnam and Laos; other foreign exchange activities serving bilateral payment and money transfer activities between Vietnam and Laos.

The use of foreign currency accounts (excluding Lao Kip - LAK accounts), Vietnamese Dong (VND) accounts of non-residents who are Lao organizations and individuals and Lao residents who are individuals opened at commercial banks, foreign bank branches licensed to conduct business and provide foreign exchange services in Vietnam (licensed banks) is carried out in accordance with the provisions of law on the use of foreign currency accounts, Vietnamese Dong accounts of residents and non-residents at licensed banks.
Carrying VND cash, LAK cash and other foreign currencies in cash by individuals when exiting or entering the country shall comply with the provisions of law on carrying foreign currencies in cash and VND cash by individuals when exiting or entering the country.
Payment and money transfer activities for bilateral investment and borrowing activities between Vietnam and Laos are carried out in accordance with regulations on foreign exchange management for foreign investment activities into Vietnam, investment activities from Vietnam abroad, foreign borrowing and debt repayment activities, and foreign lending and debt collection activities.
Currency and payment methods, money transfer
According to the Circular, the currency for payment and money transfer in the purchase and sale of goods and provision of services between Vietnam and Laos is VND, LAK or freely convertible foreign currency.
Payment and money transfer methods in the purchase and sale of goods and provision of services between Vietnam and Laos include: Payment and money transfer through licensed banks; clearing payment (payment of the difference in the transaction of clearing exported goods and services with imported goods and services in Vietnam - Laos border trade activities through licensed banks).
Export and import of VND cash and LAK cash
Banks are allowed to export and import VND and LAK cash from Vietnam to Laos and vice versa to regulate the amount of cash serving bilateral payment and money transfer activities between Vietnam and Laos of licensed banks according to regulations.
The export and import activities of VND and LAK cash of licensed banks are carried out through international border gates, main border gates in the Vietnam - Laos border area, Vietnam - Laos border gate economic zones and international air border gates.
Banks permitted to conduct export and import activities of VND cash and LAK cash are responsible for declaring to the Customs at the border gate according to the provisions of law; managing, supervising and ensuring safety in the delivery, preservation and transportation of VND cash and LAK cash; bearing all risks related to the export and import activities of VND cash and LAK cash; using imported VND cash and LAK cash for the right purposes according to the provisions of law on foreign exchange management; complying with the provisions of law on foreign exchange management, regulations on anti-money laundering and other relevant provisions of law.
The Circular takes effect from July 15, 2024.