Transferring Money out of Vietnam

If your job in Vietnam is officially documented, then getting your bank to direct transfer the fund is the cheapest.  But if it is not, then you must get to know a good Vietnamese business person, with UK ties to get the best rate.

Do you have money in hand or is it in a bank? If bank is it a Vietnamese bank or UK bank?

In hand. I can prove I have earned it here though.

Badgers,

If you have all the supporting documents, then take everything to a bank.  I would use a foreign bank, HSBC or the likes, if I were you.

Be a little cautious, though.  Things have gotten really tight, with foreign currencies exiting Vietnam, the past few months.  Don't be shocked if they scrutinize your paperworks.  Just be patient.

Best,
Howie

Yes they love the currencies coming in, but dislike it going out. As Wild-1 said, make sure you have all documentation to support yourself.

I know I can transfer money out and I know it is difficult to set up. My MAJOR concern is the cost of this.

Like I have said I am looking to make monthly payments and I have been told it'll cost me 30%!! That frankly is just too much!

I could be paying something like £400 a month so that would be an extra £120!!!???

I have thought about western union but then comes the problem of exchanging dong into dollars because I believe it is not possible to use dong directly in this manner?

HSBC seems too expensive for me. Is ANZ better? What other banks can I visit that are available in HCMC?

Thanks

Who said you will pay 30% in fees, I sent 10,000 by Anz and it was 22usd. Someone has been telling you porky pies. Make sure you have the paperwork to show how you got the money into Viet Nam or they wont even look at a transfer.

30%!!!  Do these people have...  Guns???

Befriend a Vietnamese who has families or friends in Great Britain and ask him/her to hook you up?

colinoscapee wrote:

Who said you will pay 30% in fees, I sent 10,000 by Anz and it was 22usd. Someone has been telling you porky pies. Make sure you have the paperwork to show how you got the money into Viet Nam or they wont even look at a transfer.

I have earned the money here in HCMC. Would this make a difference? Anyway I will pay a visit to ANZ this week.

Thanks

If you have the documents to show you earned it here and the tax has been paid then it shouldnt be a problem. The staff at ANZ seem to be very well informed as to the laws that exist here. I sent  the money 4 years ago and in that time many things may have changed.Best to go to ANZ and get the correct information in relation to your needs.

Just been chatting to a random. He says all I need to do is get a credit card.

I do not actually need to transfer money out of Vietnam into my account merely pay a monthly sum for a course I am going to start in October.

How about using western union service?

Last I heard you have to exchange your money from dong before you can take the western union route?

Plus it is very costly to this every month.

I have joined Vietcombank and will be making payments through them with 2% charge.

Badgers, that's a pretty good rate that you got.  No doubt, WU should be your last resort.  Last I checked, WU is the most expensive way to send money.

Hi,

If you want to transfer money to overseas, as rule of Viet nam you can transfer legal income such as salary, bonus...that earn from Viet Nam via bank. The fee is about 0.22% excluding correspondent fee and telex fee. Therefore you should come to bank to set up personal account, then receive salary or deposit cash if you have valid travel stamp & customer declaration then transfer back overseas.

in case you want to transfer out money not via bank, it's black market, it's about 1%

Trang Nguyen

Ooooh...  Where is the money God?  Linda said it, I didn't say anything!!!