Sending Mony from Vietnam to Australia

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GuestPoster020007 Guest

GuestPoster020007Guest05 April 2019 06:41:34

214245

Hi Folks my partner has just had her visa approved to marry in Australia with me and she has a large amount of money to send from her bank here in VN to a new bank we will open up for her there in Australia, lucky to have a girl with her own finances,,,,, but we dont wish to loose to much in the transfer, i ws looking at ofx etc and could not see VND as a currency they transfer, so any experience or advice would be great regards Rick

stevekernow Member

Member since 06 April 2019

stevekernowMember06 April 2019 03:24:19

Can she convert her money to USD? If so then try Transferwise - good service and fair pricing.

Btw, for any currency exchange people must always compare exchange rate PLUS fees COMBINED - many are tempted by low transfer fees and do not realise they have lost a fortune in exchange rate. Banks are a good example of where this happens (also Western Union).

GuestPoster020007 Guest

GuestPoster020007Guest06 April 2019 04:08:10

214245

stevekernow wrote:
Can she convert her money to USD? If so then try Transferwise - good service and fair pricing.

Btw, for any currency exchange people must always compare exchange rate PLUS fees COMBINED - many are tempted by low transfer fees and do not realise they have lost a fortune in exchange rate. Banks are a good example of where this happens (also Western Union).

It's not that easy, the state bank keeps an eye on the transfer of funds leaving VN. It's not a case of just sending money out via Transferwise.
Here is an article about a similiar situation.

https://m.english.vietnamnet.vn/fms/bus … ;ui=mobile

THIGV ViP

Member since 26 September 2012

THIGVViP06 April 2019 22:56:47

4424

An interesting article. As I have long suspected, taking money out of Vietnam is a problem for expats but fairly routinely overcome by Vietnamese and Viet Kieu. It may be less a matter of knowledge of how and more a matter of ethics. The primary ethic seems to be "It must not be illegal if everybody does it."

Bazza139 ViP

Member since 04 January 2016

Bazza139ViP06 April 2019 23:42:44

1257

.

Ethos, Pathos, Logos

Survival knows no Ethics...

..and Logic always comes last...

.

KruChris Serial expat

Member since 29 April 2016

KruChrisSerial expat17 April 2019 21:49:57

301

A SWIFT wire transfer will be the way to go. 0.2% commission and send AUD, not VND.

But the real challenge is not finding an okay forex; it will be getting permission to take the money out!

* Even to buy USD, the only bank selling Dollars in my city demanded proof of me flying out of the country.

* The other day, I needed to wire money back. I had sent the wire from the UK and they

a) limited it to the exact amount (no to adding a few million VND

and

b) it couldn't be routed to Germany in EUR.

It might be easier if YOU were to be the one doing the wire. Just speculating and wondering...

Good luck!

tgmcl New member

Member since 09 July 2015

tgmclNew member22 April 2019 08:26:52

I have not tried this yet but I've been told that remitano.com allows you to buy cryptocurrencies online, apparently without restriction (yet). From there, you can sell your crypto in the currency of your choice. I don't know what the transaction costs would be but likely comparable to the usual method. If I end up using that service, I'll be happy to post a review.

Wxx3 Serial expat

Member since 30 January 2017

Wxx3Serial expat23 April 2019 00:48:03

409

Use a suitcase.
Declare upon arrival is OZ

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