In this guide
Key Takeaway
Vietnam receives $18+ billion in annual remittances. We compared 8+ providers to find the cheapest USD, AUD, and GBP to VND transfers.
What Is the Cheapest Way to Send Money to Vietnam?
Quick answer: Wise uses the mid-market USD to VND rate with 0% markup and a fee of ~$7 on $1,000, but the provider that actually delivered the most on USD to VND was Ria Money Transfer, which led on 65 of the last 91 days we could compare. Remitly offers fast delivery to Vietnamese bank accounts. For cash pickup, Western Union has agent locations across Vietnam. On a typical $1,000 transfer, specialist providers deliver ₫500,000–₫1,500,000 more than bank wires. Compare live USD to VND rates.
Key data: Vietnam received over $18 billion in remittances in 2025 (World Bank), primarily from the US, Australia, South Korea, Japan, and Canada. SendMoneyCompare data shows specialist providers deliver ₫500,000–₫1,500,000 more per $1,000 than bank wires.
Vietnam is one of Asia's top remittance destinations, with a large diaspora in the US (~2.2 million Vietnamese-Americans), Australia (~300,000), South Korea, Japan, and Canada. The VND is a managed currency with limited convertibility, which means not all providers can deliver to Vietnam.
Which Providers Are Best for Sending Money to Vietnam?
Quick Comparison: Best Providers for Transfers to Vietnam
| Category | Provider | Why |
|---|---|---|
| Best Overall | WiseSend | 0% markup on mid-market rate — consistently cheapest |
| Fastest Transfer | RemitlySend | Bank deposit in minutes to major Vietnamese banks |
| Best from Australia | WiseSend | Strong AUD-VND corridor, POLi/PayID funding |
| Best for Cash Pickup | Western UnionSend | Agent locations in Ho Chi Minh City, Hanoi, Da Nang |
For a $1,000 transfer to Vietnam:
- Wise: ~$7 fee, 0% markup — best value for most transfers
- Remitly: Competitive rate, fast bank deposit to Vietcombank, BIDV, Agribank
- WorldRemit: Bank deposit and cash pickup options
- XE: No fees, competitive rates for larger amounts
- Western Union: Higher cost but wide cash pickup network
What Do You Need to Send Money to Vietnam?
Bank Deposit
- Recipient's full name (as registered with bank — Vietnamese names)
- Bank name — Vietcombank, BIDV, Agribank, VietinBank, Techcombank, MB Bank
- Account number — typically 10-14 digits
- Branch name (sometimes required)
Vietnam does not use IBANs. For SWIFT wires, you need the bank's SWIFT/BIC code.
Cash Pickup
- Recipient's full name (matching their national ID or passport)
- City — Ho Chi Minh City, Hanoi, Da Nang, etc.
What Are the Top Banks in Vietnam?
| Bank | SWIFT Code | Notes |
|---|---|---|
| Vietcombank (VCB) | BFTVVNVX | Largest state-owned. Most popular for receiving international transfers. |
| BIDV | BIDVVNVX | Second-largest. Good coverage across all provinces. |
| Agribank | VBAAVNVX | Largest by branch count. Best rural coverage (2,200+ branches). |
| VietinBank | ICBVVNVX | Third-largest state bank. Strong in northern Vietnam. |
| Techcombank | VTCBVNVX | Largest private bank. Best digital banking experience. |
| MB Bank | MSCBVNVX | Fast-growing. Strong mobile app. |
Transfers to Vietcombank and BIDV process fastest. For the full list, see our SWIFT codes guide.
How Much Does It Cost to Send $1,000 to Vietnam?
| Channel | Fee | Rate Markup | Approx. ₫ Received |
|---|---|---|---|
| WiseSend | ~$7 | 0% | ₫25,500,000 (example) |
| RemitlySend | ~$4 | 0.5–1% | ₫25,300,000 (example) |
| Bank wire | $25–$50 | 2–4% | ₫24,200,000 (example) |
Rates are illustrative — check live rates here.
On $1,000, using Wise instead of a bank saves approximately ₫1,300,000 (~$50). Over 12 monthly transfers, that's ₫15,600,000 (~$600).
What Are the Tax and Regulatory Rules?
- For US senders: No tax on personal remittances. Transfers over $10,000 reported to FinCEN.
- For Australian senders: No tax on outbound personal transfers. AUSTRAC reports transfers over AUD 10,000.
- For recipients in Vietnam: Personal remittances from abroad are not subject to income tax. The State Bank of Vietnam (SBV) encourages formal remittance channels.
- VND is a managed currency. The SBV manages the dong within a trading band. This means VND rates are relatively stable but the currency is not freely convertible — not all providers offer VND delivery.
For more guidance, read our cheapest transfer guide and safety guide.
Sources & Methodology
Data based on real quotes collected via automated scraping every 6 hours. Use our comparison tool for latest rates. Sources: World Bank RPW, State Bank of Vietnam.