.svg)
.jpg){kind=small}
Compare rates and fees for sending money to Vietnam
There are multiple ways to easily send and receive money in Vietnam but these will largely depend on the provider you decide to use.
Who are the best providers to send money to Vietnam?
In 2022, Vietnam received a total of USD 19 billion in personal remittances. Many people worldwide are sending money to loved ones in the southeast Asian country.
With so much money sent each year, it’s no wonder there are so many transfer providers to choose from.
At MoneyTransfers.com, we help you pick the best one for your needs. You don’t have to take our word for it, either — we also publish user reviews so you can see what other users think of each provider.
How can I pay for my money transfer to Vietnam?
When you compare providers on MoneyTransfers.com, you’ll find plenty of paying options. Most providers will offer at least one of these methods:
Bank transfer: This method is the cheapest; however, bank transfers tend to be a bit slower than other options
Debit card: Paying with a debit card is usually reasonably fast — just keep in mind that the card company might charge you an additional currency conversion fee
Credit card: Paying with a credit card is also pretty fast, though most credit card companies will also charge a cash advance and currency conversion fee
Digital wallet: Sometimes, you can use your digital wallet to pay for your transfer. This option is usually reasonably fast, but, like credit or debit cards, it also usually comes with high fees
What is the best way to send money to Vietnam?
The best way to send money to Vietnam is to select a money transfer provider on MoneyTransfers.com and pay with your bank account.
This way, you get a quick, secure money transfer with low fees. You don’t have to deal with the hassle of international money orders, slow SWIFT transfers, and the high cost of sending money with credit and debit cards.
A few different companies on MoneyTransfers.com can send money to Vietnam. The best ones are XE, WorldRemit, and Wise. Because these companies only focus on sending money abroad, they offer competitive rates, faster transfer times than banks, and user-friendly apps.
How long does it take to send money to Vietnam?
Most money transfer providers can get your money to the recipient in a day or less. When you compare providers on MoneyTransfers.com, you’ll see that when you send USD 1,000 from the USA to Vietnam, your transfer can be completed in one to two hours.
If you send that same transfer through WorldRemit, it will process in minutes; when you use Wise, it can arrive the next day.
However, your total transfer time can vary based on a couple of factors:
The timing of your transaction: Most banks have a cut-off time each day, after which any transfers will be processed the following business day. Make sure you know about bank holidays and cut-off times if you need your transfer to arrive as soon as possible
How much you send: Small transfers can usually go through pretty quickly, but if you send larger amounts, they might take a longer time to clear; more considerable sums also may need to go through security checks
What is the fastest way to send money to Vietnam?
If you’re sending money to a friend or family member in urgent need, you understandably want to guarantee that your transfer goes through as fast as possible. With this in mind, the fastest way to get your money to Vietnam is to use a money transfer provider.
We recommend XE, WorldRemit, and Wise. XE will send money in one to two hours, while WorldRemit can send it in minutes, and Wise will process your transfer by the next day.
Money transfer providers don’t use the slower SWIFT network that banks use. Instead, they have their own (much faster) provider network.
If you want to speed up your transfer, pay with a debit or credit card. While this option usually comes with higher fees than paying with your bank account, cards tend to be processed faster than bank transfers.
Your recipient can get their cash even faster if you arrange a cash pickup rather than a bank transfer. With this option, cash is typically available when you send the transfer. XE has several cash pickup locations across Vietnam.
How much does it cost to send money to Vietnam?
Money transfer providers have two main ways they make money. Many charge a flat fee or a set percentage of the amount you send, while some mark up the exchange rate. A large portion of providers do both.
Before you pick a provider, ensure you understand the mid-market rate or the difference between the buying and selling price of two types of currency.
The mid-market rate changes constantly. At MoneyTransfers.com, we keep it updated so you can easily compare providers.
At the time of writing, XE charges 0.90% over the mid-market rate, and WorldRemit charges 5.22% over the mid-market rate.
What is the cheapest way to send money to Vietnam?
The cheapest way to send money to Vietnam is to choose a money transfer provider on MoneyTransfers.com and pay for the transfer with your bank account. We recommend XE, which offers the most competitive exchange rate and charges no additional fee.
This option might sound a lot like arranging a wire transfer through your bank. With a wire transfer, however, your money may go through several different banks, and each bank might charge its own fee.
What do I need to send money to Vietnam?
Before you send money to Vietnam, make sure you have the following information at the ready:
Your information: To set up an account with your chosen provider, you’ll need to provide your name, address, and contact info; you’ll also need to use a photo ID to verify your identity
Your recipient’s details: To ensure that your money gets to its destination, you must put in the recipient’s banking info (SWIFT code, bank name, and account number) and contact information — you won’t need an International Bank Account Number (IBAN), as Vietnam doesn’t use the IBAN system
Your payment method: You can connect your bank account, credit card, debit card, or digital wallet to pay for your transfer
What do I need to receive money in Vietnam?
Your recipient in Vietnam will also need certain information to receive their funds.
In most cases, they must show their citizen identity card to verify their name and address. If these details don’t exactly match the details you entered, they may have issues picking up the funds.
If your money transfer provider gave you a reference number for your international transfer, make it a point to give it to your recipient before they pick up the money. They might need to use this number to confirm that the transfer was sent to them.
Do I pay tax on money transfers to Vietnam?
Depending on your country’s tax policies, you might owe taxes on any money you send to Vietnam. You usually won’t have to pay taxes unless the amount exceeds your country’s gift threshold.
For example, in the USA, you can give a monetary gift of up to $17,000 without paying taxes. If your gift is more than that, it will be subject to taxation.
What reasons do people send money to Vietnam?
It’s estimated that more than 4 million Vietnamese citizens live abroad. These expats often send money to help friends and family back home with emergency and everyday expenses. Here are some of the reasons people might want to send money to Vietnam:
Assisting family members with medical bills
Paying a loved one’s tuition
Helping family members cover everyday living expenses
Repaying outstanding debts
Sending money to major banks in Vietnam
Most large banks in Vietnam can accept international transfers. Some of the country’s biggest banks include Vietcombank, VietinBank, VPBank, Techcombank, Sacombank, and HDBank.
The USD to VND exchange rate
Why Trust Us
Our thorough editorial policy demonstrates our commitment to carefully vetting every piece of information.
We also produce unbiased, detailed reviews of all the top money transfer services, helping you in making smarter, simpler choices. We're devoted to upholding the highest standards, providing you with accurate, current, and reliable content.
Take a look at our comprehensive editorial policy for more information about our dedication to integrity and transparency.
What apps can I use to send money to Vietnam?
Sending money overseas using an app is especially easy and convenient. XE, WorldRemit, Wise, and other providers on MoneyTransfers.com offer straightforward apps that make transfers a breeze.
You can also use other apps to send money to Vietnam if you like. For instance, you could use PayPal, though it currently has an exchange rate of 4.10% higher than the mid-market rate.
You also can use one of many digital wallets accepted in the country. MoMo is the most popular, but you can also use Zalo Pay, Viettel Pay, Shopee Pay, and VNPay.
Useful links for people living in Vietnam
Living in a foreign country can be quite literally alienating. If you’re a Vietnamese expat, you may find some of these resources helpful:
Sending different amounts of money to Vietnam
Depending on the amount of money you want to send to Vietnam, the process might be a little different:
Sending under $1,000 to Vietnam
These transfers clear quickly and easily. Even percentage-based fees aren’t usually very high.
Sending $1,000 or more to Vietnam
At this point, looking for providers that charge a flat fee instead of a percentage fee is wise. Remember, the more you send, the more percentage fees and exchange-rate markups will impact you.
Sending $10,000 or more to Vietnam
For transactions this big, seeking out specialist providers focusing on large transfers is a good idea.
Sending $100,000 or more to Vietnam
For extra-large money transfers like these, consider looking into foreign exchange brokers. These experts sometimes offer fee-free transfers, and a consultant may be assigned to work with you.
Send Money to and From Vietnam With These Guides
Choose which corridor to send money through:
.jpg)