How to Send Money out of Vietnam?

Updated April 25, 2022

How to Send Money out of Vietnam? That will be the topic of today’s article.

After talking about how to receive money from China and Taiwan, in this article we will focus on how to send money out of Vietnam. There are a lot of expats that send money abroad for different investment purposes, buy a house, or pay bills, and in this article, we’ll explain some of the best ways to securely send your money out of Vietnam.

If you are looking for portable customized investment solutions for expats, which is what I specialize in, you can contact me by filling out this form, email me ( or use the Whatsapp feature.

In most cases, it makes sense for expats to invest money while living abroad rather than sending money home to buy houses and invest in their home country.

This is due to taxes and other reasons. In some cases, governments such as the UK government may even classify you as a local tax resident if you strengthen your “ties” to the country.

This article will be updated regularly, but there are times when the information is out of date and should not be construed as legal, tax or financial advice.

Living in Vietnam as an expat

How to Send Money out of Vietnam?

The most difficult thing about moving to Vietnam is choosing where to live – in the country everyone will find something for themselves. Stretching over 2,000 miles from north to south and lapped all the way by the South China Sea, Vietnam offers plenty of opportunities for adventure seekers, history buffs, city dwellers and beach lovers.

Somewhere in Vietnam the weather is always good. There are four distinct seasons in Hanoi and the north: hot summers, cold winters, and delightful spring and autumn. Ho Chi Minh City and the south enjoy warm and humid tropical weather all year round. Cities on the central coast are hot in summer and warm in winter, with a rainy season that typically lasts from late summer to mid-autumn, while spring reigns in Dalat, a promising expat haven in the Central Highlands. like the weather throughout the year. You will never need a snow shovel, but those who yearn for snow can sometimes find one on cold winter days in the far northern mountains.

The Vietnamese are hospitable, sincere, generous and sincerely interested in foreigners; this is the perfect place to make local friends. It is not unusual to meet a stranger and soon be invited to visit his home or village. College students like to start conversations in English when they see a foreigner. Don’t be surprised if you’re greeted with a smile or a short conversation in anticipation of a red light or a meaningful conversation with a waitress or vendor. Friendships in Vietnam often develop into family relationships; you will be called brother or sister, aunt or grandfather, and all the respect and kindness associated with this title.

Expatriates coming to Vietnam also have many opportunities to meet other foreigners. Expat communities across the country bring people together through frequent gatherings, many restaurants and bars cater to foreigners, and events such as food fairs, festivals and community projects provide many opportunities to meet friends both old and new.

How to send money out of Vietnam

Transferring money to friends, relatives in another city or business partners in another country is becoming easier. With the digital era, almost all banks are developing special apps, and new money transferring companies are opening their branches around the world. What is more profitable bank transfer or Wester Union? What other payment systems you can use?

Transferring money to and from Vietnam quickly and without problems is an art. The Vietnamese stories adapted the epigraph to themselves and their new theme.

The economic system of Vietnam is transparent, understandable and logical, but for now you are in the status of an observer. Anyways, our job is to make it easier for you and suggest different cost-effective options for transferring money.

So, the need to transfer money to or from Vietnam may arise for various reasons:

  • Purchase of residential property by a foreigner
  • Remote work and salary
  • Financial assistance (both ways)
  • Millions of goals

Each tourist has his own horror story on the topic “How I transferred money to Vietnam.” But the reverse version is even worse. Let’s find out the most popular and guaranteed ways with Vietnamese stories.

Money transfers – what are the most convenient ways?

Previously, to transfer money, you had to go to the post office and fill out a receipt. At the same time, the recipient had to wait a long time for his parcel, like from 3 days to a few weeks.

Nowadays, with the continually growing digital advantages, and due to electronic payment systems, your money transfer operation will take only a few minutes. At the same time, funds can be transferred to the recipient’s account very quickly: from several minutes to several hours.

The sender can use different ways to transfer money:

  • send money by mail
  • contact the bank
  • use the help of Internet banking
  • use the more effective way – popular international money transfer companies

All these methods transfer your money to the addressee at different speeds and at different rates. Your choice will depend on parameters such as the amount of the transfer, the destination and the timeframe during which you want to send the money. You can choose the most convenient payment system.

Money transfers through banks

Express transfers

You don’t need to open an account for this. This type of transfers can only be completed by a person. The procedure is simplified and designed to send money only within Vietnam.

SWIFT international transfers

How to Send Money out of Vietnam?

The abbreviation SWIFT is probably very familiar to you, which means “Society for Worldwide Interbank Financial Telecommunications”. The main purpose of this is to transfer information and make payments in an international format.

This method can be utilized while sending any amount of money to any country in the world. The main thing is that the recipient bank is connected to the SWIFT system.

Transfers will take from 1 to 3 banking days

To transfer funds, both the sender and recipient must have active bank accounts.

The sender must have an identity document with him, as well as the details of the recipient

In addition, the purpose of sending money must be indicated without fail. Such transfers are convenient if you urgently need to send money to another country – for example, to pay for tuition.

Transfers from card to card within one payment system (for example, VISA to VISA)

The advantage of this money transfer method is that it is available at any time of the day, even on weekends when banks are closed.

For this transfer, you will need access to an ATM or Internet banking. The card can be either a Vietnamese or a foreign bank, it is important that this card belongs to a certain payment system (for example, VISA), and you know the card number, first and last name of the recipient.

In this case, the funds will be received within 3 hours if these are VISA cards of one bank and within a day if these are cards of different banks. But more often than not, the money arrives within minutes. Prices for this type of money transfer may vary, depending on the conditions of the bank.

Transfers by code

Individual bank card holders can transfer money through an ATM or an Internet banking portal. The recipient does not need a bank card; he simply uses the code that the sender tells him, enters it in the appropriate field in the ATM and can withdraw money.

After all these bank-related ways, below you can find some of the best working international money transfer companies that are convenient for sending money to and from Vietnam and will help you transfer money in a few minutes without additional information such as a SWIFT code, details, etc.

What is a money transferring company and how does it work?

A money transfer company is almost always the cheapest way to send money abroad. These companies can often offer a lower transfer fee than banks, but with the same level of security and reliability.

Specialized companies will have different fees for money transfers, often depending on the current market rate, as well as mitigating factors such as where you are sending the money from, where and the amount being sent.

Leading online money transfer providers are focusing on optimizing digital navigation to simplify the user experience so that every customer can enjoy the benefits of a simple service. The steps to initiate a money transfer are as follows:

  • Step 1: Choose a money transfer provider
  • Step 2: Create a free account
  • Step 3. Set up translation
  • Step 4. Recheck the commission and confirm
  • Step 5. Track your transfer

While getting the best price for your money transfer is important, it’s also a good idea to consider a few other factors when looking for a reliable and secure money transfer service for your needs.

Ultimately, the cost of your international transfer will depend on how much you are sending, the exchange rate at the time, and the fee structure used by the provider you are using. Below are some important considerations to consider when choosing the best money transfer service for you:


Make sure the money transfer service you are considering is registered with the relevant financial authorities in the country it operates in and use secure encryption methods to keep your money safe.

In addition, it is worth learning about the reputation of the company by reading the reviews of its users. This is a good way to double check if their services are up to the high standard they claim.


Some money transfer providers, such as Wise, will offer money transfers at the average market rate, adding a set fee for their services. Conversely, other companies will add a small premium to the true exchange rate.

To give you an idea of ​​what to expect, most banks add a mark-up of 4 to 5%, while most money transfer providers typically apply an average exchange rate spread of 1%. It is important to note that all providers will charge a fee or surcharge in exchange for their services, but it is important to be transparent about these fees before you make a transfer.


Since a huge percentage of money is stored digitally, you might think that all international money transfers would be as instant as sending an email, but unfortunately this is rarely the case. We recommend that you check the estimated transfer time with each service provider, given that the day you transfer money will affect the transfer time: delivery speed depends on weekends and business days.


Make sure the money transfer provider you are looking for supports the transfer route you need. Currently, not every company offers its services to all territories or countries, so this is a very important factor to iron out before deciding on a service provider.

Which international money transferring companies support transfer from/to Vietnam?

Let’s now see which international companies are good for sending and receiving money from Vietnam.


How to Send Money out of Vietnam?

This is the second largest money transfer provider in the world and has an expected network of 350,000 points of sale and kiosks in over 200 countries.

It also has a full range of funding and pickup options, including cash delivery and phone reloads in multiple markets. And transfers are fast: cash is usually available within minutes, while bank transfers take hours to many popular destinations.

But all of these features come at a price. MoneyGram used to be one of the most expensive transfer providers.

MoneyGram also has a minimum transfer amount of £1. The maximum transfer amount is £5,000, so the service is best suited for relatively small amounts.

In addition to the transaction limit, there is also a cumulative limit of £5,000 per month. For any amounts in excess of this, you will need to contact one of MoneyGram’s retail agents and arrange for a personal transfer.

Now let’s see what transfer options MoneyGram offers to its customers in Vietnam:

  • Send money in person
  • Send to bank account
  • Send to mobile wallet

If you want to send money from a MoneyGram service point in Vietnam, you must first of all find a point near you, prepare for your visit, and here you need to have the following information and documents with you:

  • Your ID, if applicable
  • The recipient’s full name that matches their ID. and their location
  • The amount you want to send plus the fee

The next two steps involve completing the transaction and notifying the recipient that you have sent the money.

If applicable, complete the submission form. Provide the agent with the completed form with the appropriate funds (including the transaction fee). Save the receipt and provide the recipient with an 8-digit reference number to receive.

If you prefer to transfer money to a bank account, you need to provide the following information:

  • Your ID
  • Full name of the recipient, corresponding to its identifier, bank name and account number
  • Location of your recipient
  • The amount you want to send plus the fee

Share the 8-digit reference number with your recipient and the funds will be credited directly to their account.

If you chose the third option, i.e. transferring money to an online wallet, you must provide your ID, the recipient’s full name corresponding to their ID, and their mobile phone number with an international dialing code, as well as the amount you want to send, plus fees . Otherwise the same, the funds will be credited directly to the recipient’s mobile wallet.

To receive money you need:

  • Find the nearest MoneyGram branch
  • Fill out the form in the form of receiving money, where you will need to indicate the number from the sender’s receipt
  • Present the form and an identity document to the employee of the department.

Western Union

How to Send Money out of Vietnam?

Western Union is the world’s largest money transfer provider with over 500,000 locations in over 200 countries and territories. Unlike many providers, Western Union offers both domestic and international transfers; the ability to quickly send and receive cash abroad is his specialty.

But Western Union has a complex pricing structure, and the FAQ lacks guidance for some key customer situations, such as canceling a transfer before delivery. In addition, the company has failed to protect consumers in the past.

Transfers via the international Western Union system are provided with a money transfer control number, which allows you to quickly find the transfer and check its status. Money can be received in a few minutes after sending in more than 200 countries around the world.

There are 2 options for transferring funds:

  • Personal visit to a Western Union branch or partner bank
  • Online transfer – with this method you do not need to visit bank branches, instead you can do it through a computer or mobile phone with Internet access

You do not need to have a bank account to transfer money using Western Union. The maximum transfer amount in bank branches is 7400 US dollars or the equivalent amount in the required currency. The only drawback of the system may be that the dollar will be greatly overvalued, which will affect the transfer of money abroad.

After you have transferred the funds, the bank issues a receipt with a 10-digit control number. It, as well as the amount, country and city of the transfer, must be named by the recipient.

The transfer fee is paid only by the sender. In exceptional cases, a commission may be charged from the recipient, for example, when transferring to a legal entity.


This is an Estonian company that allows you to make transfers to other countries, paying only the difference in rates and a low commission. This is a great alternative to bank transfers, as the money goes to the recipient’s bank card, but you don’t lose money on interest.

To transfer you need:

  • Register on the company’s website (only for the sender). You get a real IBAN account, which you can also use to receive money from other countries
  • Select the amount you want to send
  • Add recipient bank details
  • Verify identity (ID photo)
  • Pay for the transfer
  • You can track your transfer

TransferWise offers cheap ways to send money from the US to over 70 countries. The exchange rates are among the best you will find.

You can fund the transfer in various ways, such as using a bank account or card, but the recipient must have a bank account. The highly rated mobile apps and website provide useful cost calculators and other information to make transfers convenient.

The company offers low commissions. The fixed cost for many countries is a combination of a fixed amount of around $1 and a percentage of just under 1% of the transfer amount.

Credit card fees are higher. Using an ACH transfer from your bank account or debit card is usually cheaper. If you pay by bank transfer with TransferWise, your bank will likely charge you a fee.

But this international money transfer is not always the best option for large transfers. Some providers charge no fees and offer competitive markups, which can make some transfers cheaper than TransferWise.


WorldRemit is an online money transfer service that allows people from all over the world to send money to their friends and family abroad.

The company was founded in 2010 by Somali migrant Ismail Ahmed while studying at a university in London, who found an opportunity to make money transfers cheaper and easier to send money.

Payment methods also vary greatly, but include (depending on the country) bank transfers, debit and credit cards, SOFORT, Apple and Android Pay, Poli, Interac, ACH and Trustly. In the United States, WorldRemit offers money transfer services from all 50 states and, according to TechCrunch, “they are currently looking to expand further in Asia.”

WorldRemit is a low-cost alternative to traditional money transfer services, and the fact that you can transfer money anytime, anywhere using the WorldRemit website or mobile app makes it a very convenient service. There is no need to go to an agent, stand in line and wait. Everything happens online, which means that WorldRemit’s fees are more affordable than many of its competitors, and its customers save on costs.

How WorldRemit works:

  • Open an account. Go to the WorldRemit website and open an account for free
  • Enter the recipient’s details. Tell WorldRemit where and to whom you need to send money
  • Customize your transfer through WorldRemit. Enter the transfer amount and transfer payment method
  • Pay for the transfer. Transfer funds from your local bank account or pay with a debit or credit card.
  • Let WorldRemit do the rest. WorldRemit will convert your money into the recipient’s currency and send it to them via the selected payout option.

Here is another option for secure money transfer. If you are in Vietnam and want to urgently send money to someone abroad, you have a very wide range of options available. Now let’s see what each sender should consider when transferring money.

General tips for international money transfers

1. Compare the cost of translation from several providers

There are two types of costs: upfront payment and exchange rate markup. Find a provider that offers the cheapest combination of low fees and the best exchange rate you can get. Usually, non-banking online providers offer cheaper transfers than banks.

2. Know how exchange rates work (and how to find the best one)

An exchange rate is the price of one currency in relation to another currency. For example, if you want to convert US dollars to Euros, you should check how much one US dollar is worth in Euros. Most transfer providers won’t give you the exchange rate you’ll find on a currency exchange platform like (or when you exchange rates on Google), but a currency platform can be a useful starting point to see what the best rate looks like. like this minute. When checking the exchange rate for an international transfer using services such as Western Union, be guided by the amount in foreign currency. The higher it is, the more money your recipient will receive.

3. Avoid paying by credit card

This is an option for some providers, but there may be a higher down payment and your credit card issuer may be responsible for charges such as interest and cash advances. If you need fast money delivery, use a debit card. A transfer paid directly from a bank account is usually much slower.


Getting money out of Vietnam is probably easier than out of China, but challenges remain, including getting a competitive rate.

Very often expats face such problems of sending money abroad in a secure and  cheaper way, but usually bank transfers can cost a little expensive than sending the amount by money transferring companies. All the mentioned above international money transferring companies are the best ones, and you can be sure these will help you to securely send your money, or receive it.

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Comments are closed.

Blog Comments

I would like to send money out of Vietnam.

It depends where you are sending too, how much etc. I will email you anyway.

What’s the cheapest way to send money out of Vietnam? I’m working here and am allowed to do that but the banks have a hight fee. Thank you.

The apps will be cheaper in general than banks.

Is it possible to send money out of Vietnam daily or weekly for business purposes?

My Vietnamese friend wants to pay me back. I used Transfer Wise (now Wise) to lend her money, but apparently you can’t use it to transfer money from Vietnam to Europe. What do you recommend?

has he tried some of the other options mentioned in the article?

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