best way to send money back home?

Tarunsonthalia wrote:

Hello,
I'm from India. I'll might be coming to Vietnam over the next 1.5-2 years. I have a family back in India. I wanted to know which would be the best way to send money back home? I tried to look through the web, but couldn't find anything significant. Can someone help me out please.
Thank You

Assuming you'll be on a legitimate job (with Work Permit) in Vietnam, you can send a certain percentage (max) of your monthly salary back home through bank transfer from your VN bank acct.
No problem there.

hello Senwl,

I don't know where I replied to you, I just wanted to know that are banks the cheapest way to transfer money, because I don't want half my salary going in Bank charges. Also, could you share your experience of remitting money through a bank or a third party. What made you choose that service? What improvements have they gone through or you would like to see in future.

The reason to ask is, these pointers would help me make my decision about choosing a third party or a bank.

Thank you for replying

Sir,how to send money with safe and easily to India at lower cost I am seaman

In your suitcase.

shoaibgujjar wrote:

Sir,how to send money with safe and easily to India at lower cost I am seaman

If you have the relevant paperwork and bank account in Vietnam, you should be ok.

Are you paid by a VN company, why dont you have the funds sent directly to India by your employer?

Transferwise is super easy and reliable

Jlgarbutt wrote:

Transferwise is super easy and reliable

Can you send money out with Transferwise?

Jlgarbutt wrote:

Transferwise is super easy and reliable

Double check.

You wouldn't be the first person to recommend Transferwise here, only to later acknowledge that, for sending money out of the country (the OP topic) Transferwise doesn't work well in Vietnam

There is a guy called "Ben Tigers" on facebook. He can make international payments for you for around 3% fee.

Dylmatt wrote:

There is a guy called "Ben Tigers" on facebook. He can make international payments for you for around 3% fee.

True, but its illegal. His rate is not cheap compared to others, mainly because he guarantees the money arriving.

Isn't 3% pretty much the standard "gold shop" rate?  I know that is what it is going US>VN door-to-door and I have been told it is the same going the other way.  I never shipped money out as my wife wanted to leave her savings in Vietnamese banks at over 6%.  I still can't convince her that we can do a lot better in US equities with quite safe investments that throw off at least 4% in dividends and do not risk currency devaluations.

THIGV wrote:

Isn't 3% pretty much the standard "gold shop" rate?  I know that is what it is going US>VN door-to-door and I have been told it is the same going the other way.  I never shipped money out as my wife wanted to leave her savings in Vietnamese banks at over 6%.  I still can't convince her that we can do a lot better in US equities with quite safe investments that throw off at least 4% in dividends and do not risk currency devaluations.

No, you can get it down as low as 1.5%. The degree of risk could be greater. The guy in question is very popular among the expat community.