The best, fastest & cheapest ways to send money to Vietnam

The exchange rate determines how much VND the recipient will get when you transfer money to Vietnam.

For example, today, the average exchange rate between US Dollar and Dong is 26,325.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more VND.

If you do need to send VND now, we suggest using Sendwave.

The cheapest way to pay for your transfer to Vietnam is via bank transfer with Sendwave. It is 0.55% cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of VND you receive.

Here are your cheapest options:

*Based on a 7,000 transfer to Vietnam using our comparison data. Transfer time is based on averages from multiple companies.

Avoid using a credit card option for transfers to Vietnam, as it’s the most expensive.

Credit card transfers to Vietnam come with cash advance fees and higher interest rates on VND.

When possible, avoid sending VND over the SWIFT network. Despite its name, SWIFT transfers to Vietnam are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts. Here are a few examples:

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.

In general, the quicker you need VND delivered, the more it will cost you in fees.

Transfer speed to Vietnam depends on the VND amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer 7,000 from the US to Vietnam.

Overall, of 12 companies serving Vietnam, Wise is the fastest regardless of the deposit method.

For bank or debit card deposits, services like Wise excel in this regard, offering near-instantaneous and cheapest VND transfers with $45.53 or $0 fees respectively and 0% markup.

For most urgent transfers to Vietnam, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for VND transfers as it's slower due to intermediary banks in Vietnam.

There are a few ways to send money to Vietnam:

Online

You can send money to Vietnam with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Sendwave is the overall best online money transfer provider according to our data.

App

Most money transfer services supporting Vietnam have an app, usually offering a better VND rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

You can also use the MoMo app to send money abroad through the integration with Western Union.

In-person

Cash transfers to Vietnam in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect VND.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in Vietnam. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank transfers to Vietnam.

And if you need cash right away, check if cash pickup is an option for transfers to Vietnam.

You also can use one of many digital wallets to accept payments in Vietnam. MoMo is the most popular, but you can also use Zalo Pay, Viettel Pay, Shopee Pay, and VNPay.

To receive money in Vietnam, you will need:

• Valid forms of ID: this could be a National ID, passport, or driving license.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of VND to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in Vietnam, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a passport or driver's license.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in Vietnam. Sometimes this may include an IBAN or a SWIFT code depending on your payment method.

If you're making a large transaction to Vietnam, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large VND transfers and will help you get things done fast.

You usually won’t have to pay taxes unless the amount exceeds your country’s gift threshold.

Larger transfers to Vietnam may need to be reported to tax authorities.

When in doubt, please contact a tax professional in your country or in Vietnam.