Sending money from the EU to Vietnam bank

Johny5 wrote:

Hello everyone,

I cannot find any recent topic regarding transfer of money from the EU to  Vietnamese bank.

The goal is just to spend the money here, use it for regular expenses etc.

I would be happy for any advice how this can be done. What are the steps or a paperwork that needs to be done if it is possible? Are there any complications or is it straightforward? What Vietnamese bank works the best?

I read that using Transferwise for the transfer tends to be the best solution.

I am not that lazy, I would look around, but I wanna save myself from visiting 6 banking houses around the city as in my experience, answers differs greatly and I hope that you guys here might know the answers already.

Thank you

Zdeno

Sending money from Europe to Vietnam is as impossible as searching for information on the topic.

Transferwise or similar services are probably your easiest option. You can do it from your bathroom if you want. The money can be delivered to your house or I believe there are locations for you to go and pick up the money. I know in the USA, there are limits you can send per month but not sure about EU.

There is an alternative route that i recently tried, and good (i did 1000+ USD), i.e., get USDT crypto from anywhere, and use cash2vn service. It took less than 1hr in my case, for the $ to arrive in vietcombank.
Just sharing my experience, not a recommendation in any way.

I’d also be interested in anyone with experience in sending money out of Vietnam, to Australia or the UK

I assumed I’d simply be able to use TransferWise, as I do for all other international money transfers, is this not the case?

Lambybutler wrote:

I’d also be interested in anyone with experience in sending money out of Vietnam, to Australia or the UK

I assumed I’d simply be able to use TransferWise, as I do for all other international money transfers, is this not the case?

I just got off the phone to the CBA about this very thing. I'm going to see if banks here will let me transfer out in VND as I can set up a foreign currency account in Australia. The reason is that the dong is lower in Australia, therefore a better exchange rate. Knowing the VN banking system I have a feeling they wont allow it, but it's worth asking.

Lambybutler wrote:

I’d also be interested in anyone with experience in sending money out of Vietnam, to Australia or the UK

I assumed I’d simply be able to use TransferWise, as I do for all other international money transfers, is this not the case?

We'll see from others that reply but I think you're not going to be able to do that if it's more than a few hundred dollars. Getting money out is not the same as getting it in.

Lambybutler wrote:

I’d also be interested in anyone with experience in sending money out of Vietnam, to Australia or the UK

I assumed I’d simply be able to use TransferWise, as I do for all other international money transfers, is this not the case?

It's not the case, according to a number of people who have posted on here, specifically about Transferwise.

It seems to be the option of choice for people who are sending smaller amounts under $1,000 TO Việt Nam.

Impossible to use Transferwise for sending money OUT of Việt Nam.