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.

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.

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.

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.

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.

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.