Purpose: This study aims to examine the effect of financial inclusion on subjective well-being by utilizing the dataset of 3,000 observations in two main surveys where required data are available.Design/Methodology/Approach: Our study utilizes both Oster’s (2019) method and kinky least squares (KLS) techniques to ensure the robustness of the empirical results. The data cover 3,000 observations in two main surveys.Findings: Our findings show that financial inclusion positively influences Vietnamese subjective well-being, with a one-standard-deviation increase in the financial inclusion index leads to a 0.192 unit increase in subjective well-being. Moderation analysis indicates that there is a regional effect in our findings, meaning that financial inclusion improves subjective well-being in all regions including the North region, the Central region, and the South region. However, the effect is smallest in the South region where the North region experiences the largest effect of financial inclusion on well-being. We also explore three mediating channels through which financial inclusion enhances subjective well-being across regions in Vietnam, namely income rank, the possibility of coming up with emergency funds, and educational attainmentOriginality/Value: Financial inclusion has generally been considered key pillar in supporting sustainable economy growth and social transformation in Vietnam by 2030. Exploring how financial inclusion influences subjective well-being is particularly important in Vietnam, a country undergoing rapid economic transformation and facing persistent social challenges that may affect the subjective well-being of Vietnamese citizens.