Best way to send money to Vietnam | finder HK

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How to send money to Vietnam

The safest and most cost-effective ways of sending money to friends and family in Vietnam.

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Whether you are helping out family in Hanoi or investing in a start-up in Ho Chi Minh City, when you are ready to send money to Vietnam you don’t want to be slowed down by an expensive and complicated process. Sending money to Vietnam can be easy and affordable if you shop around for the best deal from a variety of transfer service providers.

Compare money transfer services to Vietnam

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day HKD 0.00 2959.43 VND
29,594,300
Skrill能令你輕鬆匯款至多個熱門目的地,可是要留意其加上的手續費。 Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees. Go to site Show details
USD 10 1 - 2 days HKD 300.00 2970.716 VND
28,815,943
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
USD 1 Within an hour HKD 20.00 2958.836 VND
29,529,182
提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務,。 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups. Go to site Show details
USD 50 1 day HKD 35.00 2970.716 VND
29,603,183
快捷又簡單的國際匯款服務,大部分匯款收取固定的0.5%手續費。部分貨幣更不設保證金率。 InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details
SGD 1 1 day HKD 60.00 2970.716 VND
29,528,915
你首兩次港幣$15,000或以下的匯款,手續費全免。Pay no fees on your first two transfers, up to HK$15,000.
象徵式收費以及中間價匯率,可匯款至高達30多個國家。 SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
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USD 100 1 day HKD 15.00 2926.158 VND
29,217,687
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用45種貨幣匯款。 OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
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GBP 5,000 1 - 2 days HKD 0.00 2926.158 VND
29,261,580
可匯款至20+個國家,無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What’s the best way to send money to Vietnam?

Finding the best way to send money to Vietnam depends on whether you want to deliver money to a bank account or to be picked up as cash. Digital money transfer services can cheaply deliver money to bank accounts, while cash transfers are often faster but more expensive.

  • Digital money transfer services. Compare brands like InstaReM, TransferWise and SingX to send money to Vietnam digitally.
  • Cash transfers. WorldRemit, Western Union, MoneyGram and similar services can deliver cash for pickup in Vietnam, often within a few minutes.

You’ll most likely want to avoid using your bank or a service like PayPal as you’ll pay higher fees and be offered weaker exchange rates than when using a digital money transfer service.

Let’s crunch the numbers: Sending $10,000 to Vietnam

Let’s say you need to send $10,000 to family in Vietnam. Here’s what you might face as far as fees and exchange rates as of 2 Jan, 2021

Digital money transfer serviceCash transferBank transfer
Fee70.00 HKD30.00 HKD$65 + additional correspondent bank fees
Exchange rate1.00 HKD = 2,972.7643 VND1.00 HKD = 2,856.0821 VND1.00 HKD = 2,547.43 VND
Transfer speed1-2 dayMinutes2-5 days
Amount received29,519,550 VND28,476,000.00 VND25,474,359 VND
Verdict
  • Better than the bank
  • Fastest and best value
  • Slowest and most expensive

The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Vietnam. If you go with the cash transfer service, your recipient ends up with more than VND 4 million more than the bank offers.

How to send money to Vietnam online

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. After you pick a provider, sign up for an account using your contact information, proof of ID and preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Vietnamese bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Vietnam. Some money transfer providers send a text or email when your transfer is complete.

How to get the most out of your money transfer to Vietnam

Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Vietnam to best meet your needs:

  • Exchange rates. The HKD-VND relationship doesn’t fluctuate often, but using a service that allows you to lock in exchange prices may help you save money down the line if the Vietnamese dong rises against Hong Kong dollar.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger HKD-VND exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the number of Vietnamese dong you’re sending to Vietnam.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Vietnam.
  • Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
  • Transfer methods. Whether you want money sent to an Vietnamese bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer

When urgency trumps cost to get your money to Vietnam quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to Vietnam without a bank account

Cash transfer services can help you if you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

Vietnam’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Vietnam’s exchange rate is somewhat fixed compared to Hong Kong dollar. Because both are relatively stable, the HKD-VND relationship typically doesn’t make sharp movements. Factors that influence the exchange rate include interest rates, economic stability and inflation.

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Updated: 05 Mar 2021 16:48:35 UTC

Documents needed for sending to and receiving money in Vietnam

To send money to Vietnam from Hong Kong, you’ll need government-issued ID and other documents, while documents needed to pick up money in Vietnam may be different by company.

Documents to send money from Hong Kong

To send money from Hong Kong to Vietnam, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal cheques.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Vietnamese bank account and routing number.

Documents to receive money in Vietnam

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A Vietnamese Passport, Vietnamese ID or similar official ID may be required to pick up your transfer.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

Bottom line

Sending your hard-earned money to Vietnam shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.

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