How to transfer money abroad Vietnam has become easier, thanks to advancements in digital banking, regulatory reforms, and an expanding range of financial service providers. Whether you’re using international money transfer Vietnam, Vietnam bank transfer overseas, or Vietnam remittance services, there are more options available to suit your needs.
This guide will help you avoid delays, high fees, and regulatory pitfalls when sending money overseas Vietnam. Learn the best practices for money transfer Vietnam to ensure a smooth and cost-effective transfer process.
Looking to Transfer Money from Vietnam? Trust The Nest Asia for Expert Advice and Top Methods!
Methods to Transfer Money Abroad from Vietnam
Bank Transfers via International Banks
Many local banks in Vietnam, including Vietcombank, Techcombank, and BIDV, offer international money transfer services. These banks allow wired transfers to nearly any country and typically require the sender to visit a branch, though some now provide online remittance options. Transfers usually take 1-5 business days but can involve comparatively high fees and less competitive exchange rates. Documentation such as passports, proof of funds, and the recipient’s bank details are typically required.
Transfer Money Online: Services and Apps
New digital platforms like Wise, Remitly, and WorldRemit have revolutionized how to transfer money internationally by offering lower fees, transparent exchange rates close to mid-market value, and faster transfers—sometimes within minutes. These services allow you to transfer money directly to foreign bank accounts or mobile wallets from smartphones or computers. They are user-friendly and cater well to small and medium-sized transfers, providing competitive speed and cost advantages over traditional banks.
International Financial Institutions
Services like Western Union and MoneyGram allow you to transfer money globally through their extensive agent networks, enabling cash pickups abroad. These services are convenient for recipients without bank accounts but often involve higher transfer fees. Transaction speed can vary from instant to a few days, depending on the destination country.
Cryptocurrency Transfers
As of 2025, stable coins such as USDC and USDT are increasingly used to transfer money internationally due to low fees and rapid settlement times. However, recipients require digital wallets and a basic understanding of cryptocurrency exchanges, making this method more suitable for tech-savvy individuals or businesses.
Read Related: Guide to E-Wallet in Vietnam: How to Use Digital Payments Safely and Efficiently?
Regulatory Requirements and Best Practices
Since March 15, 2025, the State Bank of Vietnam has enforced a newly issued Code of Conduct for Remittances Abroad to create a unified, transparent, and compliant framework for outward fund transfers from Vietnam. This regulatory move is designed to prevent exploitation of loopholes for illegal remittance activities and standardize document requirements across banks and foreign exchange operators. Prior to this Code, each bank had its own internal policies, leading to inconsistent practices and inefficiencies.
The Code stipulates that credit institutions must thoroughly verify the authenticity of all sender-provided documents, including identification, proof of fund origin, and the stated purpose of the transfer money. Banks have the explicit right to refuse transactions if the documentation is incomplete, inaccurate, or suspected of being falsified, reinforcing compliance with anti-money laundering standards.
The transparency and uniformity mandated by this Code ensure that money transfers abroad are legitimate and traceable. It applies to a broad range of purposes for one-way outbound remittances such as education abroad, overseas medical treatment, business travel costs, family allowances, inheritance transfers, and relocation expenses. Banks are required to maintain detailed records and archive all related transaction documents for regulatory inspection and audit.
In practice, these regulations mean that individuals and businesses transferring money abroad from Vietnam should:
- Maintain clear, authentic proof of the funds’ legal origin and remittance purpose.
- Prepare and submit all required documents according to the standardized Code of Conduct.
- Cooperate with banks’ due diligence requests promptly to avoid delays.
- Avoid cash transactions exceeding US$5,000 without necessary customs declarations and confirmations from authorized institutions.
- Regularly update themselves on applicable regulations, as these are subject to refinement and expansion by Vietnamese authorities.
Read Related: Essential Public Services for Expats Living in Vietnam: A Complete Support Guide
Tips for Expats and Businesses
- Compare fees and exchange rates: Providers like Wise, Remitly, XE, and CurrencyFair transparently display their transfer fees and the exchange rate markups they apply. Regularly checking rates helps both individuals and businesses maximize value, especially when transferring large sums.
- Plan transfers ahead: International money transfers’ speed depends on transfer volume, currency pairs, intermediary banks, and regulatory approvals. Larger amounts, especially corporate remittances or investment transfers, may require additional clearance, foreign exchange approvals, or tax declarations, extending processing times from a few days to several weeks. Awareness of local holidays, cut-off times, and regulatory updates further improves transfer planning
Ensure all required documents are ready: Vietnamese banks and authorized institutions enforce strict documentation checks as part of remittance compliance. Senders must prepare valid identity proofs (passport, residence card), proof of transaction purpose (invoice, contract, tuition fees), and sometimes evidence of legal source of funds. Incomplete or inconsistent documents can cause transaction rejections or extended processing times.
Need to Transfer Money Internationally? The Nest Asia Helps You Navigate the Best Options!
About Us
The Nest Asia is a one-stop resource offering comprehensive information, practical relocation advice, cultural insights, valuable connections, and trusted services to help expatriates living in Vietnam navigate the transition, overcome challenges, and build a fulfilling life abroad. Starting your journey in a new country can often feel overwhelming. The Nest Asia is your trusted partner – we’re here to simplify that process and ultimately make Vietnam feel like home for you and your loved ones.
Schedule a Meeting
Disclaimer: The Nest Asia is not an authorized provider of official government or non-government services. The information provided is intended for general guidance only. While we strive to offer accurate and timely information, we make no representations or warranties regarding its completeness or accuracy.
