Send money to Vietnam
Quick answer: Where you send from decides the cheapest option to Vietnam. Across the 2 sending routes we price, the top-ranked estimates right now are XE Money Transfer from United States (25,836,928 VND for $1,000); Remitly from United Kingdom (17,130,917 VND for £500).
Latest pricing observation: . Oldest observation used: . Quotes are kept per USD→VND pair, not per country, so check is served before you commit. Methodology.
Cheapest way to send money to Vietnam, by sending country
The top-ranked estimate on each route we price into Vietnam, from our own collected quotes. Choose your country for the full provider ranking.
USD → VND · 11 estimates
XE Money Transfer: $1,000 becomes 25,836,928.34 VND · 0.64% over mid-market · 1,288,310 VND ahead of the lowest
GBP → VND · 8 estimates
Remitly: £500 becomes 17,130,916.56 VND · 0.48% over mid-market · 1,194,790 VND ahead of the lowest
Vietnam receives over $14 billion in remittances annually, largely from Vietnamese communities in the US, Australia, Canada, South Korea, and Japan. The State Bank of Vietnam (SBV) has gradually liberalised foreign exchange controls, and most providers now offer rates close to the interbank rate. Bank deposits are the primary delivery method, with mobile wallets like VNPay and MoMo gaining ground.
- VNPay and Momo (MoMo) are Vietnam's leading digital payment platforms, though international inbound delivery to these wallets is limited — most providers use bank deposit to Vietcombank, BIDV, Techcombank, or VPBank.
- VND is a managed currency with the SBV setting daily reference rates and allowing only ±3% variation. This limits extreme rate swings compared to other emerging market currencies.
- The SBV requires that all international inbound transfers go through licensed banks or authorised payment intermediaries. Unofficial channels are illegal in Vietnam.
- Overseas Remittance Decree (Circular 20/2023) allows Vietnamese citizens to receive up to $10,000 per transaction without special documentation. Above this, the receiving bank may request source documents.
- Popular receiving banks: Vietcombank (largest), BIDV, VietinBank, Techcombank, MB Bank, and VPBank. All have branch ATMs for immediate cash access.
Guides, fees & how it works
What you need to send money to Vietnam
Full name
Recipient's full Vietnamese name as registered with their bank
Bank account number
Vietnamese bank account number (varies by bank, typically 10–19 digits)
Bank name & branch
Full bank name and branch (e.g. Vietcombank, Hoàn Kiếm Branch)
Note: Vietnam does not use IBAN. You need the recipient's bank account number, bank name, and branch. Some providers also support transfers via phone number linked to Vietnamese bank accounts.
How much does it cost to send money to Vietnam?
The top-ranked estimate on each sending route into Vietnam sits between 0.48% and 0.64% above the mid-market rate: tightest from United Kingdom (Remitly), widest from United States (XE Money Transfer).
Ways to send money to Vietnam
Bank deposit is the standard method in Vietnam. The NAPAS system connects all major Vietnamese banks for domestic interbank transfers.
How can my recipient receive money in Vietnam?
Recipients in Vietnam have 3 ways to receive this transfer: bank deposit; cash pickup; home delivery.
Bank Deposit
Transfer to Vietnamese bank accounts through the NAPAS interbank system.
Cash Pickup
Collect cash from bank branches and agent locations in Vietnam.
Home Delivery
Cash delivered to the recipient's address in major Vietnamese cities.
What are the transfer limits and regulations for Vietnam?
Regulatory body
State Bank of Vietnam (SBV)
Inbound transfer limits
No cap on incoming remittances — Vietnam actively encourages diaspora remittances
Documentation you may need
- Sender's government-issued ID
- Recipient's Vietnamese ID card (CCCD) for cash pickups
Important things to know
- Vietnam has been one of the top remittance-receiving countries in Asia, with over $19 billion annually.
- Incoming remittances are exempt from personal income tax in Vietnam.
- The VND is managed by the SBV — exchange rates can be subject to policy decisions.
- Recipients can choose to receive in USD or VND for bank deposits, depending on the provider.
How long does it take to send money to Vietnam?
Top-ranked providers advertise 1-4 business days from United States (XE Money Transfer), minutes to 3-5 days from United Kingdom (Remitly).
Provider-stated speeds for Vietnam, not our measurement.
Popular banks in Vietnam
6 banks commonly receive international transfers in Vietnam, including Vietcombank and VietinBank. SWIFT/BIC codes are shown where we could verify them; confirm the rest with the receiving bank.
Vietcombank
BFTCVNVXXXX
VietinBank
ICBVVNVXXXX
BIDV
BIDVVNVXXXX
Techcombank
VTCBVNVXXXX
MB Bank (Military Bank)
—
ACB (Asia Commercial Bank)
ASCBVNVXXXX
Frequently asked questions
Common questions about sending money to Vietnam
What is the cheapest way to send money to Vietnam?
Wise and Remitly offer the best USD-to-VND and EUR-to-VND rates. For Australia-to-Vietnam transfers, OFX and Wise are competitive. Since VND is a managed currency with limited interbank rate variation, exchange rate differences between providers are smaller than for free-floating currencies — here, the transfer fee becomes proportionally more important.
How long does a money transfer to Vietnam take?
Bank deposits via Wise or Remitly typically take 1–2 business days. SWIFT transfers from traditional banks take 2–5 business days. Remitly's Express option can deliver within hours. Western Union cash pickup is available within minutes at agents in Hanoi, Ho Chi Minh City, and most provinces.
What bank details do I need to send money to Vietnam?
You need the recipient's full legal name (as on their Vietnamese national ID), bank account number, and the bank's SWIFT code. Common SWIFT codes: Vietcombank (BFTVVNVX), BIDV (BIDVVNVX), Techcombank (VTCBVNVX), VPBank (VPBKVNVX). Vietnam does not use IBAN.
Is there a limit on remittances to Vietnam?
Personal remittances up to $10,000 per transaction require no special documentation under SBV rules. Above $10,000, the receiving Vietnamese bank may request a declaration form (Tờ khai ngoại hối). Vietnamese nationals cannot hold foreign currency savings accounts in Vietnam unless they are overseas workers (ViệtKiều) or have eligible source documentation.
Can I send money to Momo or VNPay in Vietnam?
Direct international delivery to VNPay or Momo is not widely supported by major Western providers yet. Momo accepts some international inbound transfers via partner banks, but most providers deliver to a Vietcombank or Techcombank account, from which the recipient can top up their Momo wallet in seconds via the app. This two-step process is quick and low-cost.
Are remittances taxed in Vietnam?
Personal remittances from immediate family are not subject to income tax in Vietnam. The Vietnamese government encourages overseas remittances as a key source of foreign exchange. Gifts from non-relatives may be subject to personal income tax if they exceed VND 10 million (approximately $400), though enforcement is limited for small amounts.