Compare money transfer from Vietnam

The best services for sending money from Vietnam overseas

As a thriving financial hub, Vietnam has a huge number of financial service providers ranging from international banks to online money remittance firms. As such, sending cash out of Vietnam is not a complicated affair. You can choose from a wide array of service providers.  But how much does it cost to send money out of Vietnam? Are there exit limits to think of?  Most expats working in Vietnam, as well as companies, have faced these common questions. So, what’s the most affordable method of remitting money overseas? Let’s find out.

How to transfer money from Vietnam overseas online?

Not long ago, you could stuff money in your sock with the hope that you wont be discovered by customs officers. Thankfully, with affordable and legal ways of wiring money, there's no need for insecure and illegal ways. Here are five simple ways of transferring any amount of money from Vietnam.

Travel with your cash

If you're a frequent travellers, Vietnam customs laws allow you to carry 5000 USD undeclared. For any amount more than 5000 USD, you should liaise with the State Bank of Vietnam to get approvals.

Bank transfer

For those who prefer the traditional but reliable bank transfer, its recommended you use international banks with subsidiaries in other country. Without a bank account, you can still make a bank transfer, only that you are required to show proof of income. Approval documents include; a work permit, labor contract, invoice or payslip. When using local Vietnamese banks, you will have to open an account before sending the money to your recipient. It's important to note that using a local Vietnamese bank without branches in other country can be costly.

Paypal

For small transactions, Paypal is among the most suitable options. However, you'll be required to sign up for a Paypal account and link it with a Vietnam based bank.

MoneyGram

 With so many branches and agents round the globe, you can't go wrong with MoneyGram. You can easily hand in the cash to any MoneyGram agent in Vietnam. The required documents include; a passport, your credit or debit card details and the details of the recipient. Wiring money via MoneyGram is straightforward; deposit the cash and submit the remittance fee.

e-transfers

Online cash remittance services are now popular because of their incredible speeds. Vietnam has a fair share of online remittance firms that are worth your time, including WorldRemit, Skrill and TransferWise. Transfer fees vary from one service provider to the next.

Which provider to use to wire money from Vietnam overseas?

The best way to wire money will largely be determined by the following.

Cost of transfer

Transfer options that are cheap and transparent are popular when wiring money.

Foreign exchange

Overseas cash transactions make use of the foreign exchange, so you can't ignore forex rates. Luckily, most money transfer agents provide competitive exchange rates.

In the end, the cheapest way to transfer money from Vietnam overseas is one with lowest fees and good forex rates.

How much does it cost to send money overseas from Vietnam?

Anyone remitting cash should be concerned about costs. Essentially, no one deserves to pay unrealistically high fees to send their hard-earned cash overseas. Costs and levies vary depending on the service used and the amount of cash to be transferred. While banks are a reliable method of wiring, they are costlier compared to other methods. For wire services, the fee will be dictated by the amount to be sent. In the same light, online remittance services like WorldRemit charge a commission on the outbound transfer. The best service for sending money from Vietnam overseas really depends on the amount of money on transit.

Our advantages

Our up-to-date comparison engine does the heavy work for you, presenting you with affordable money transfer services. We understand the cash transfer market well, that's why we vet all the available options to present you with the tried and trusted services that are worth your time.

All the services we recommend must be;

• Transparent
• Cheap
• Legally registered