Banking & Finance
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From opening an account to wiring money home, banking in Laos has its own set of rules. This guide walks you through all of them.
Banking Overview in Laos
| Feature | Details |
|---|---|
| Currency | Lao kip (LAK) ₭ |
| Bank Account for Foreigners | May be possible — confirm with the bank |
| Access Difficulty | Medium |
| Remote Opening | No |
| Wise Available | No |
| N26 Available | No |
Opening a Bank Account in Laos
Foreign nationals may be able to open a bank account in Laos, but we have not independently verified this — confirm the current rules directly with the bank, in writing, before you rely on it. The process difficulty is rated as medium, which means you should expect some bureaucracy and possibly language barriers.
Required Documents
- Valid passport or national ID
- Proof of address / residence registration
- Residence permit (if applicable)
- Tax identification number (if available)
- Initial deposit (amount varies by bank)
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Banks in Laos — remote & non-resident opening
Named banks operating in Laos, and what our automated research found about non-resident remote account opening (no branch visit required). This has not been verified by a human reviewer — use it as a starting point and confirm directly with the bank.
| Bank | Remote opening | Confidence | Details |
|---|---|---|---|
| Agricultural Promotion Bank (APB) | May require an in-person visit — confirm with the bank directly | Medium | Small Lao domestic bank, requires passport, visa or work permit and in-person branch visit. |
| Banque pour le Commerce Exterieur Lao (BCEL) | May require an in-person visit — confirm with the bank directly | High | Requires passport with visa, local address and in-person opening, work permit for i-Bank. |
| Joint Development Bank (JDB) | May require an in-person visit — confirm with the bank directly | Medium | Lao domestic bank, foreigners need visa or work permit, proof of address and branch visit. |
| Lao Development Bank (LDB) | May require an in-person visit — confirm with the bank directly | Medium | Lao state bank, requires passport, visa or work permit and in-person KYC at branch. |
| Phongsavanh Bank | May require an in-person visit — confirm with the bank directly | Medium | Requires passport plus guarantor letter, visa or permit and in-person branch opening. |
Last checked 2026-06-22 · Source: official bank websites, gathered via automated research that has not been reviewed by our founder — treat every row as a lead, not a verified fact, and confirm directly with the bank before you rely on it. Research confidence: High = clear supporting evidence found · Medium = partial or indirect evidence · Low = weak or conflicting evidence · Unrated = no confidence assessment recorded (unreviewed automated research).
Digital Banking Options
Wise (TransferWise)
Wise has limited availability in Laos. While you may be able to send money to Laos, full local account features may not be available. Check their website for the latest on Laos-specific services.
N26
We have no record of N26 operating in Laos — check N26's own country list, as their coverage changes. You may need to consider local digital bank alternatives or traditional banks.
International Transfers
When transferring money to or from Laos, consider these factors:
- Exchange rate: The currency is LAK. Always compare the offered rate with the mid-market rate.
- Transfer fees: Transfer fees vary — compare providers like Wise for the best rates.
- Transfer speed: Bank-to-bank (SWIFT) transfers take 2-5 business days. Digital services often complete within 1-2 days.
- Regular transfers: If sending money home regularly, set up a recurring transfer to lock in better rates.
Salary and Everyday Banking
The average salary in Laos is approximately €267 per month. Your employer will typically require a local bank account for salary deposits. Most banks offer:
- Debit card (Visa or Mastercard)
- Online banking portal and mobile app
- Direct debit setup for rent and utilities
- ATM withdrawals (check fee policies)
Tips for Expats
- Get a local phone number first: Most banks require a local mobile number for SMS verification. Set this up before visiting the branch.
- Use a multi-currency card: A multi-currency travel card (Wise, Revolut) saves you exchange fees during the transition period.
- Open your account early: Visit a bank branch within your first week. Having a local account speeds up everything from rent to mobile contracts.
- Carry cash for the first week: Card acceptance varies. Have enough local currency to cover taxis, meals, and small purchases until your account is active.
- Learn key banking terms: A few words in the local language go a long way at the bank counter and when reading statements.
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Get Your Free VerdictFrequently Asked Questions
Can I receive my salary in a foreign bank account in Laos?
Technically yes, but most employers in Laos prefer paying into a local bank account. Using a local account avoids international transfer fees and delays.
Does Wise (TransferWise) work in Laos?
Wise has limited functionality in Laos. You may need to rely on traditional banks for transfers.
Is mobile banking widely available in Laos?
Yes, most major banks in Laos offer mobile banking apps with features like transfers, bill payments, and balance checks. Local banks are increasingly investing in mobile technology.
How do international money transfers work from Laos?
You can transfer money from Laos via SWIFT bank transfers (2-5 days, higher fees) or digital services . Compare rates between your bank and specialist transfer services to save on fees.
Can I open a bank account remotely before moving to Laos?
Remote account opening is generally not available in Laos. You will likely need to visit a branch in person with your documents.
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About the author
António Mira is the founder of whereTOemigrate. For over a decade he has worked at the intersection of Portuguese real estate and overseas business, helping international clients navigate the cross-border decisions that come with relocating. He sits on the board of CCIAP (Portuguese-Arab Chamber of Commerce), the Portuguese-Saudi Business Council, and the Portugal-Hong Kong Business Association — always with one focus: enabling overseas business and human mobility into and out of Portugal.
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