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Looking for the best way to send money from Canada to family, friends or businesses in Vietnam (or even to your own overseas bank account)?
Don't head straight to your Canadian bank – compare specialist money transfer services instead. They nearly always offer better VND exchange rates and lower fees, so for the same amount of Canadian dollars you send, your recipient will receive more Vietnamese đồngs.
Of the companies we've compared, OFX is among the cheapest, with competitive exchange rates and fees starting from $0. Need a really fast transfer? Instarem can get money to your recipient in Vietnam within minutes.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Bank transfers are typically the cheapest way to get your money to Vietnam. OFX and Instarem have some of the lowest bank transfer fees of the brands we've compared.When you're hunting down the cheapest ways to send money to Vietnam, it's more important to look at the overall cost of your transfer. This has a couple of elements:
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many Vietnamese đồngs your recipient will end up with.
Many online providers can offer transfers to Vietnam within minutes, although you're likely to pay a premium for the convenience.Here are some of the fastest average transfer speeds to Vietnam:
Actual transfer times from Canada to Vietnam can depend on several different factors including transfer amount, payment method and currency.
The safest way to get your money to Vietnam is to use a provider registered with Canada's industry regulator, the Financial Consumer Agency of Canada. All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both Canada and Vietnam.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
If you need to make a sizable money transfer to Vietnam, consider using a provider such as OFX or Simplii Financial to benefit from its expertise in handling larger transfer amounts.Using a large transfer specialist can have the following advantages:
To send money to Vietnam, you'll need the necessary documentation, your recipient's details and a way to pay.
Trang is working in Canada as a software engineer and she stays in regular contact with her elderly parents back home in Vietnam. Her parents need some funds to help pay off a mortgage, so Trang plans to send them $2,000 from Canada.
She decides to compare a bank and a money transfer specialist to see which one can save the most money on her transaction.
|Bank||Money transfer company|
|Exchange rate||1 CAD = 16.69 VND||1 CAD = 16.92 VND|
|Transfer method||Bank account deposit||Bank account deposit|
|Processing time||2 - 5 working days||Next day|
|Amount received||33,221.06 VND||33,787.71 VND|
The money transfer company enables Trang to send an extra ₫/đ566.65, which is transferred straight to her parents' Vietcombank account.
When choosing a money transfer provider to send money from Canada to Vietnam, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
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