In an effort to promote transparency in the private sector and modernize financial management , a key regulation will officially take effect on March 1, 2026. Accordingly, business households nationwide will be required to use bank accounts that match the name registered on their business license, instead of using the personal accounts of the household head or relatives as was the practice before.
Small business owners in traditional markets are becoming familiar with transparent cash flow through bank accounts that match their business license names.
This change is expected to create a turning point in the transparency of money flows, while also facilitating tax management in the context of the booming electronic payment system. In Ho Chi Minh City, preparations for this transition are underway urgently in traditional markets and individual businesses.
Cash flow standardization: From old habits to new management thinking.
Observations show that many savvy business owners have proactively implemented account identification early on to optimize management . A typical example is Mr. Pham Van Hong, a vegetable vendor at Nguyen Tri Phuong market, who switched his transaction method in mid-2025. According to him, using an account under the business owner's name not only complies with the law but also provides direct benefits in monitoring daily cash flow.
Mr. Hong affirmed: "I use a bank account under my business name for trading transactions. This helps me manage my daily income and expenses more easily and conveniently." This method clearly separates business profits from family expenses, a problem that often causes confusion for small-scale traders.
However, the journey to change habits for thousands of other small traders still faces many obstacles, especially for long-time business owners who are not yet familiar with digital technology . In traditional markets, sharing bank accounts with children or using a single account for all daily needs is still very common.
Technological barriers are causing many older small business owners to struggle with registering for bank accounts under their own names.
Ms. Le Thi Mai Ly shared her family's difficulties: "Because my mother is elderly and registered as the business owner, she's not familiar with technology, so she uses her grandchild's bank account for trading." Similarly, Ms. Nguyen Thi Ngoc Trang confided: "Because we're used to it, having only one bank account and letting customers transfer money after purchasing goods, after the new regulations come into effect, we'll have to go to the bank to register a new account to do it correctly." This shift requires an adaptation process and close support from relevant authorities.
Synchronize support solutions to bring policies into practice.
Aware of the obstacles related to habits and technology, the market management boards in Ho Chi Minh City proactively took action early on. Coordination programs between the market management boards, tax authorities, and the banking system were implemented to guide traders in registering correctly and quickly.
Ms. Dam Van, Deputy Head of the Culture-Information-Tourism and Market Management Department of the Dien Hong Ward Public Service Center, emphasized the necessity of the regulation: “This new regulation is very appropriate and necessary, tightly controlling the flow of money and helping to make tax management more effective. The market leadership has implemented this early on, coordinating with Tax Department No. 10 and banks, guiding traders to open accounts in the correct names as stated on their business licenses.”
Ms. Dam Van - Deputy Head of the Culture-Information-Tourism and Market Management Department under the Public Service Center of Dien Hong Ward
Currently, the Ho Chi Minh City Tax Department manages nearly 365,000 business households. Strict implementation of Circular 25/2025 of the State Bank of Vietnam is not merely an administrative requirement but also a fundamental solution to mitigate risks from fraudulent and deceptive transactions, while protecting the legitimate rights of both business households and consumers. When all financial flows are traced transparently through the banking system, customer trust will be strengthened, and business households will have easier access to legitimate loan sources from banks thanks to clear transaction history.
With the mandatory regulations about to officially come into effect, active dissemination and support for implementation at the local level are crucial for the policy to be successfully implemented. The shift from a manual, overlapping management model to a specialized, identified account system demonstrates Ho Chi Minh City's significant progress in modernizing its economic governance.
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Source: https://htv.com.vn/tp-ho-chi-minh-quyet-liet-trien-khai-quy-dinh-tai-khoan-ngan-hang-dinh-danh-cho-ho-kinh-doanh-222260208111250691.htm
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