If you need to send money to Vietnam, but don’t have a ton of time to compare money transfer services individually, we’re here to lend a helping hand. This handy comparison guide is designed to help you figure out which money transfer service offers the most competitive exchange rates and lowest fees while being the best fit for your needs.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Send money to Vietnam with WorldRemit
Whether you need to send some spare change to family and friends or you have a portfolio of business expenses to manage in Vietnam, there are a number of banks and money transfer services that can help you get the job done.
Hoang has been living and working in Vancouver for three years and he intermittently sends money home to his elderly parents, who live in Ho Chi Minh City. Hoang has always used his bank to facilitate wire transfers, but he’s been less than impressed with their sub-par exchange rates and a steep $35 fee per transfer. Hoang decides to compare two online money transfer providers to see if he can track down a better deal. The comparison below is based on exchange rates in the spring of 2018, so check current rates before making your choice.
| Money transfer service | Bank | |
|---|---|---|
| Exchange rate | CAD$1 = VND 17,200 | CAD$1 = VND 17,600 |
| Transfer fee | $15 | $25 |
| Amount received for $500 | VND 17,200,000 | VND 17,600,000 |
| Transfer time | 2 days | 3-5 days |
| Transfer options | Online transfer only | Wire transfer to bank account |
Huang is pleased to discover that he can save VND 400,000 (around $22) in the exchange rate with the first money transfer option, with an additional $10 in fees. If Huang sends money every month, this amounts to almost $384 over the course of one year.
Comparing fees and delivery speeds is important when considering money transfer options. When making a transfer, you should consider the following factors to find the best deal.
If you’re travelling through Vietnam and run into an emergency, there are a couple of ways to get your hands on some fast cash. The following services offer quick and hassle free delivery.
In the event of an emergency, cash pick-up options like MoneyGram and Western Union can facilitate a transaction to hundreds of agent locations across Vietnam in as little as 10 minutes. Just beware that while these companies can be a lifesaver when you’re in a tight spot, they can cost much more than a bank-to-bank transfer. If you have time to spare, it can pay to look at companies like TransferWise or WorldRemit to complete your transaction.
The Government of Canada recommends that Canadian visitors to Vietnam exercise a high degree of caution (as of 01 September 2018) due to an increase in petty crime. Pick-pocketing is common in tourist areas, including markets and shopping centres and crowded buses and trains. Motorcyclists also commonly grab bags and other valuables from pedestrians. If you do need to collect cash, look for an agent location in a safe neighborhood and call ahead to make sure they’ll have cash on hand. Visit during daylight hours in the company of a good friend and return to your hotel to stow your cash in a safe place as quickly as possible.
You can send money to Vietnam via a bank or through a specialist money transfer service. Depending on the service you choose, you’ll likely need to provide the following information:
The bank or money transfer service will send you a confirmation email or give you a receipt if you’ve made the transfer in person.
