Managing Money In A Crisis
Weekly tips sent straight to your inbox
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Send money to Vietnam
The safest and most cost-effective ways of sending money to friends and family in Vietnam.
Guides
Exchange Rates
The best way to send money to Vietnam comes down to how much you’re sending and your payment method. Xoom conveniently pairs with your PayPal account for bank transfers, while WorldRemit and Remitly are often cheaper than MoneyGram and Western Union for nearly instant cash pickups. TransferWise’s rates are competitive, but compare a few providers to find the cheapest deal for your next transfer.
Send money to Vietnam with Remitly
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
- Transfer to 50+ countries around the world
- Express option so your money arrives in minutes
- Delivery promise where fees are refunded if it doesn't arrive on time
Compare money transfer services to Vietnam
Use our comparison table to see how much your transfer to Vietnam could cost:
- Enter the amount you want to send to Vietnam.
- Select the option with the best rate and transfer speed for your transfer.
- Click Go to site to sign up and complete your transfer.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
What's in this guide?
What’s the best way to send money to Vietnam?
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Vietnam. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.
Digital money transfer services
Companies like OFX specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Vietnamese bank account, often in as little as a day or two.
Cash transfers
Services like MoneyGram and
Banks
Vietnamese dong are not a popular currency, but your local bank may be able to exchange them. If your bank supports Vietnamese dong, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Vietnam.
Let’s crunch the numbers: Sending $1,500 to Vietnam
Let’s say you need to send $1,500 to family in Vietnam. Here’s what you might face as far as fees and exchange rates as of May 25, 2020.
| Digital money transfer service | Cash transfer | Bank transfer | |
|---|---|---|---|
| Fee | $0 | $3.99 | $25 + additional correspondent bank fees |
| Exchange rate | 1 USD = 23,086 VND | 1 USD = 23,221 VND | 1 USD = 21,186 VND |
| Transfer speed | 1-2 day | Minutes | 2-5 days |
| Amount received | VND 34,629,492 | VND 34,739,718 | VND 31,249,350 |
| Verdict |
|
|
|
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 nearly VND 3.5 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:
- Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
- 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.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- 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.
What are the ways that I can send money to Vietnam
- Bank transfers. Many major US banks will allow you to send money to Vietnam.
- Money transfer providers. Providers like Remitly and TransferWise can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union, WorldRemit and MoneyGram allow you to send funds for cash pickup at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from the US to Vietnam.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
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 USD-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 the US 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 USD-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 the US dollar. Because both are relatively stable, the USD-VND relationship typically doesn’t make sharp movements. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Vietnamese dong trades against the US dollar in our historical rate chart.
Can you Venmo Vietnam?
No. Venmo, Cash App, Zelle and similar services are all restricted mostly to the US. Cash App and Venmo do not work between Vietnam and the US. You’ll need to use a dedicated money transfer service, a bank transfer, a PayPal transfer or something similar to send money to Vietnam.
Documents needed for sending to and receiving money in Vietnam
To send money to Vietnam from the US, 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 the US
To send money from the US to Vietnam, you’ll need documentation and details that include:
- Identification. Most services require a driver’s license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SSN.
- Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
- 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.
What to watch out for
Sending money to Vietnamese relatives or family members in Vietnam may be subject to taxes on the money transfer, but it depends on a lot of variables. In general, any large transfers being sent from the US to Vietnam should be filed with the IRS to avoid any penalties. To learn more about what penalties you may face by failing to file your transfer, read our guide on IRS taxes for large money transfers.
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.
Zero fees on your first THREE money transfers Send money with WorldRemit using the code '3FREE' and pay no fees on your first three money transfers Last verified
Coupon code ends
WorldRemit Deals
Read more on this topic
-
US remittance statistics We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
-
Best ways to send money online Navigate the world of sending money domestically and internationally with our hand-picked list of popular services.
-
XE vs. OFX money transfers Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
-
Alternatives to InstaReM Find the best alternative websites to InstaReM for online money transfers.
-
TransferWise account for e-commerce sellers review Receive payments in five local currencies and convert them to dozens of others using one account.
-
XE vs. Western Union We compare XE's and Western Union’s fees, exchange rates and transfer speeds side by side.
-
Remitly vs. PayPal Compare a well-known payments giant to the newer Remitly and see which one can give you a better deal.
-
Remitly vs. TransferWise Remitly and TransferWise’s fees, exchange rates and speeds compared side by side.
-
Send money to Guinea Compare the services that send money to Guinea. Find out how to get the best value for your money, how long it takes and what to look out for.
-
Best places to exchange currency in Sydney Your guide to currency exchange services in Sydney, including where to find the best exchange rates and lowest fees.
Ask an Expert
Vietnam uses last name first (this is the way he sent his information to me) is this the way to fill in the information for the recipient or should I fill it in with first in first place
Hi Teresa,
Thanks for contacting Finder.
You should enter your receiver’s first and last name, as it appears on their government-issued ID.
Kind Regards,
Faye