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The best way to send money to Vietnam comes down to how much you’re sending, and your chosen payment method.
Xoom conveniently pairs with your PayPal account for bank transfers. WorldRemit and Remitly are often cheaper than MoneyGram and Western Union for nearly instant cash pickups. And Wise has competitive rates — but compare a few providers to find the cheapest deal for your next transfer.
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
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.
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 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 |
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|
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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.
Sign up and send money with a digital money transfer specialist in four steps:
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Vietnam to best meet your needs:
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.
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.
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.
Today’s exchange rate USD to VND
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.
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.
To send money from the US to Vietnam, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
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.
Learn more about using the Vietnamese Dong in Vietnam
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
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