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Send money to Vietnam

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

The best way to send money to Vietnam comes down to how much you’re sending and your payment method. PayPal’s charges are usually on par with bank transfers, while WorldRemit and Remitly are often cheaper than MoneyGram and Western Union for nearly instant cash pickups. Wise’s rates are competitive, but compare a few providers to find the cheapest deal for your next transfer.

Send money to Vietnam with OFX

Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.

  • Better exchange rates than those offered by banks
  • Lower fees than those charged by banks and other services (free when you transfer over SGD 10,000)
  • Quick turnaround time
Promoted

Compare money transfer services that send to Vietnam

Use our comparison table to see how much your transfer to Vietnam could cost by entering how much you want to send.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day SGD 50.00 17203.595 VND
85,157,796
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees. Go to site Show details
SGD 1 1 day SGD 62.00 17269.201 VND
85,275,314
Pay no fees on your first two transfers, up to S$3000.
SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.
Go to site Show details
SGD 0 Same day SGD 4.99 17079.257 VND
85,311,058
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.
Go to site Show details
SGD 1 Same day SGD 3.99 17181.145 VND
85,837,173
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
SGD 1 1 - 2 days SGD 60.00 17269.201 VND
85,309,852
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies. Go to site Show details
SGD 200 2 days SGD 25.00 17208.776 VND
85,613,660
New customers sending over AUD 500 to Australia use code FINDER50 to get AUD 50 off. Valid till 31st May 2021. T&Cs apply. 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?

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 specialise 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 Western Union allow you to transfer cash for pickup at a local branch in Vietnam— often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees.

Banks

Vietnamese dong is 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 27 September 2020.

Digital money transfer serviceCash transferBank transfer
Fee$0$4$25 + additional correspondent bank fees
Exchange rate1 SGD = 16,689 VND1 SGD = 16,538 VND1 SGD = 16,408 VND
Transfer speed1-2 dayMinutes2-5 days
Amount receivedVND 25,033,500VND 24,741,521VND 24,201,800
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 digital money transfer service, your recipient ends up with nearly VND 831,700 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. Pick a provider and sign up for a free online 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.

What are the other ways I can send money to Vietnam?

  • Bank transfers. Many major Singapore banks will allow you to send money to Vietnam.
  • Money transfer providers. Providers like Remitly and Wise 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 Singapore to Vietnam.
  • Cheques. Although not a quick option, you could obtain an international cheque from your bank and send it overseas.
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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 SGD-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 Singapore 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 SGD-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 Singapore dollar. Because both are relatively stable, the SGD-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 Singapore dollar in our historical rate chart.

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Updated: 06 May 2021 15:41:37 UTC

Documents needed for sending to and receiving money in Vietnam

To send money to Vietnam from Singapore, 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 Singapore

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

  • Identification. Most services require your NRIC, 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 specialise 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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