Key Takeaway
Vietnam receives $18+ billion in annual remittances. We compared 8+ providers to find the cheapest USD, AUD, and GBP to VND transfers.
In this guide (8 sections)
- What Is the Cheapest Way to Send Money to Vietnam?
- Which Providers Are Best for Sending Money to Vietnam?
- What Do You Need to Send Money to Vietnam?
- What Are the Top Banks in Vietnam?
- How Much Does It Cost to Send $1,000 to Vietnam?
- What Are the Tax and Regulatory Rules?
- Sources & Methodology
- Frequently Asked Questions
In this guide
- What Is the Cheapest Way to Send Money to Vietnam?
- Which Providers Are Best for Sending Money to Vietnam?
- What Do You Need to Send Money to Vietnam?
- What Are the Top Banks in Vietnam?
- How Much Does It Cost to Send $1,000 to Vietnam?
- What Are the Tax and Regulatory Rules?
- Sources & Methodology
- Frequently Asked Questions
What Is the Cheapest Way to Send Money to Vietnam?
Quick answer: The cheapest way to send money to Vietnam in 2026 is Wise, which uses the mid-market USD to VND rate with 0% markup and a fee of ~$7 on $1,000. 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 | Wise | 0% markup on mid-market rate — consistently cheapest |
| Fastest Transfer | Remitly | Bank deposit in minutes to major Vietnamese banks |
| Best from Australia | Wise | Strong AUD-VND corridor, POLi/PayID funding |
| Best for Cash Pickup | Western Union | 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 |
|---|---|---|---|
| Wise | ~$7 | 0% | ₫25,500,000 (example) |
| Remitly | ~$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.