According to regulations from the State Bank of Vietnam, bank accounts used for business activities must be registered under the business household's name and match the name on the Business Household Registration Certificate. This regulation aims to enhance transparency in financial transactions and facilitate the management of taxes, invoices, and cash flow for business households.

With these new guidelines, business households can no longer use the owner's personal account for revenue and expenditure related to sales and service provision. All transactions must now be conducted through an account registered in the business household's name.

The standardization of information between bank accounts and business registrations helps clearly identify transaction entities, simplifies the reconciliation of revenues and expenses, and aids in tax declaration and settlement. For input invoices to be accepted, details such as tax identification number, entity name, and receiving account must match the issuing entity.

BIDV staff advise a business household. Photo: BIDV

Under Decision 3389 issued by the Ministry of Finance in 2025, business households that apply the declaration method, particularly those with annual revenues exceeding 200 million VND, are required to open and use bank accounts registered in the business household's name. These households must also fully comply with accounting record-keeping, documentation, and bank payment procedures.

In response to this transition, many commercial banks are implementing solutions to help customers open accounts with the correct name and intended use, while also advising on transaction processes tailored to specific business needs.

A BIDV representative announced the integration of the MyShop Pro sales management solution into the BIDV SmartBanking application. This allows customers to simultaneously use both their business household account and personal account on the same platform, with a single login.

BIDV staff assist a business household in installing the MyShop Pro application. Photo: BIDV

The solution enables tracking of cash inflows and outflows, management of payment transactions, and connects to utilities such as: QR codes, payment notification speakers, and electronic invoices. BIDV is offering free use of MyShop Pro for customers who register until 30/6, along with special offers on payment speakers, and six months of free electronic invoices and digital signatures until 31/3.

As financial activity standardization becomes increasingly critical, separating accounts and utilizing digital management tools is seen as a crucial step for business households to enhance transparency and facilitate future expansion or partnerships with enterprises.

(Source: BIDV)