Yes, Vietnam is on Etsy's list of countries where Etsy Payments works directly, and the Vietnamese dong is a supported currency. You don't need Payoneer, but check the fee table in your own Shop Manager.
Vietnamese sellers get one of the more direct Etsy set-ups. Vietnam is on Etsy's list of countries for Etsy Payments, and the Vietnamese dong is one of the currencies Etsy supports. The detail that trips people up is the fee wording, because two Etsy pages quote slightly different numbers.
The two fee figures Etsy gives for Vietnam
Etsy's fee help lists the Vietnam payment processing fee as 4.5% + 11,500 VND. The Etsy Payments policy lists 4.5% + 11,550 VND. The difference is tiny, but it tells you something: Etsy changes these tables, and the page in front of you may not match another one.
I'd treat the fee table in your own Shop Manager as the final word, and to price with a small buffer. Etsy's fees page also mentions a Regulatory Operating fee that applies in India and Vietnam, so look for it in your own breakdown rather than assuming the headline fee is the whole cost.
Small deposits cost extra
The Etsy Payments policy lists a deposit fee of 45,000 VND for deposits of less than 45,000 VND in Vietnam. In plain terms, if your balance is tiny when a deposit goes out, the charge could wipe out the money. Etsy lets you choose daily, weekly, biweekly or monthly deposits, and says funds are generally credited within five business days of Etsy starting the request. A less frequent schedule helps balances reach a sensible size first.
Dong in, dong out
Etsy's currencies help page lists VND among the 22 currencies for Etsy Payments, and says the currency of your deposits follows the country where your bank account is held. A Vietnamese bank account therefore means deposits in dong. Etsy also says it issues deposits in your Payment account currency, even if your bank account currency is different.
The dong is issued by the State Bank of Vietnam. Its old subunits, the hao and xu, have been obsolete and unused for decades, so prices are quoted in whole dong. That makes comparing a sale to your costs easy, but large numbers can hide mistakes, so double check the zeros when you set prices.
If you list in a currency that differs from your payment account currency, Etsy adds a 2.5% conversion fee. Many Vietnamese sellers still list in dollars for overseas buyers, and then accept that cost or move their listings into dong.
Eligibility: who can open a shop in Vietnam
Etsy's rule is that your shop must be located in an eligible country, and enrolment needs a residential address and a valid bank account there. Vietnam isn't an asterisked country, so you don't need Payoneer. Where Etsy Payments is unavailable, new shops can't open, but that doesn't apply to you.
- A residential address in Vietnam.
- A valid Vietnamese bank account in your own name.
- Identity details, and a tax number where Etsy asks for one.
- A bank account name that matches your shop's legal and tax information.
Verification deadlines
For bank accounts outside the US, Etsy verifies with a test deposit or a bank document review. Sellers usually get 30 days to begin and 60 days to complete after the first sale, and Etsy warns that missing the deadline can lead to shop suspension. Once verified, funds are held for 5 days.
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Etsy also asks that the name on the bank account matches the name or business entity stored on your shop's Legal and tax information page. If you trade under a shop name but your bank account is in your personal name, make sure the legal details you gave Etsy are your personal ones, because the match is what verification looks at.
Put the deadline in your calendar the day you make your first sale. It's the simplest way to avoid a suspension that would have been entirely preventable.
What tends to go wrong in Vietnam
- Not checking both fee numbers and finding your margin is thinner than planned.
- Letting a tiny balance be deposited and paying the small-deposit charge.
- Paperwork mismatches between your legal name, shop and bank.
- Ignoring tax. Etsy asks for taxpayer details as you approach the relevant thresholds, and may suspend selling if they're wrong. I'm not an accountant, so ask a local one how Vietnamese tax treats Etsy income.
Vietnam and Etsy: a summary table
| Route | Available in Vietnam? | Source checked |
|---|---|---|
| Open a shop with Etsy Payments | Yes, directly | Etsy eligible countries list |
| Deposit in dong to a Vietnamese bank | Yes, VND is supported | Etsy currencies help page |
| Payoneer required | No | Etsy eligible countries list |
| Fee wording | 4.5% + 11,500 VND on one page, 11,550 VND on another | Etsy fee help and Payments policy |
Compare with other Asian sellers
Malaysia works in a similar direct way, and my guide to selling on Etsy from Malaysia shows how ringgit fees compare. Thai sellers go through Payoneer instead, which I explain in selling on Etsy from Thailand. For a wider view of making your products pay, see my notes on digital products as passive income.
Frequently asked questions
Can I sell on Etsy from Vietnam?
Yes. Vietnam is on Etsy's list of countries where Etsy Payments is available, and you don't need Payoneer.
Does Etsy pay out in Vietnamese dong?
Yes. VND is one of the 22 currencies Etsy Payments supports, and your deposit currency follows the country of your bank account.
What is the Etsy payment processing fee in Vietnam?
Etsy's fee help lists 4.5% + 11,500 VND, while the Etsy Payments policy lists 4.5% + 11,550 VND. Check your own Shop Manager for the current figure.
Is there a small-deposit fee in Vietnam?
The Etsy Payments policy lists a deposit fee of 45,000 VND for deposits less than 45,000 VND.
How long does Etsy give me to verify a Vietnamese bank account?
Etsy usually gives sellers 30 days to begin verification and 60 days to complete it after the first sale, to avoid shop suspension.
