Bank transfer in vnd.

Currency transfers out of Vietnam can be a bit complicated. Saying that, I have managed to transfer VND out of my HSBC account in Vietnam to my account in Hong Kong without too much trouble. I think this is only possible if you are an expat, but I am not an expert on the rules.

matthanoi wrote:

Currency transfers out of Vietnam can be a bit complicated. Saying that, I have managed to transfer VND out of my HSBC account in Vietnam to my account in Hong Kong without too much trouble. I think this is only possible if you are an expat, but I am not an expert on the rules.

Thanks for the reply. Do you know if there was a limit of how much you could send out.

No idea if there was an upper limit. I transferred approximately USD5,000.

matthanoi wrote:

No idea if there was an upper limit. I transferred approximately USD5,000.

To clarify - it was the VND equivalent of USD5,000.

matthanoi wrote:

matthanoi wrote:

No idea if there was an upper limit. I transferred approximately USD5,000.

To clarify - it was the VND equivalent of USD5,000.

Ok, thanks. We want to send much more than that. Local banks wont transfer VND.

Hi Colin

My father in law transferred 1.5 Billion Vnd from Vietcom bank to my wifes Barclays account here in the UK in December 2019. As far as i can remember it was done in two transactions. Hope this is of some help.

Regards

bb

VND is not an internationally tradeable currency. I have only sent money into Vietnam but I cannot send it in VND and I assume the same rules will apply going the other way.

Malcolmleitrim wrote:

VND is not an internationally tradeable currency. I have only sent money into Vietnam but I cannot send it in VND and I assume the same rules will apply going the other way.

Two replies said they have done it, so maybe it's possible. My bank in Australia said they will accept vnd.

bertieboy123 wrote:

Hi Colin

My father in law transferred 1.5 Billion Vnd from Vietcom bank to my wifes Barclays account here in the UK in December 2019. As far as i can remember it was done in two transactions. Hope this is of some help.

Regards

bb

Was it sent as vnd or changed to GBP as a transfer?

I have done both EURO or VND to banks in Europe, no issue as long as you show your work permit.   Transfer in Euro typical give best rate
Value > 1B per time (VIB)

bertieboy123 wrote:

Hi Colin

My father in law transferred 1.5 Billion Vnd from Vietcom bank to my wifes Barclays account here in the UK in December 2019. As far as i can remember it was done in two transactions. Hope this is of some help.

Regards

bb

Contacted HSBC in Saigon, wont give any info unless you have an account. What a ridiculous system they have in place.

When I arrived here in Saigon last October for work, I managed to open an account in the first few days in Vietcombank. I didn't have yet work permit as it was in process.
As soon as I openned the accounts (1 in VND and 1 in USD) my company transferred money to my account but in VND only.
I went to the bank and asked if I could transfer some money to Thailand. They said yes but the amount i want to transfer will be first converted from VND to USD first. They made me buy USD from my VND account and then transfer this amount to Thailand.
The amount I transferred was 9,000 USD.
I don't know if that help.

Jphasia wrote:

I went to the bank and asked if I could transfer some money to Thailand. They said yes but the amount i want to transfer will be first converted from VND to USD first. They made me buy USD from my VND account and then transfer this amount to Thailand.
The amount I transferred was 9,000 USD.
I don't know if that help.

Yes, this is the way it works. You must convert to an internationally tradeable currency (usually american dollars) then when your dollars arrive at their destination they will be converted back into the local currency.
It all helps to generate "fee income" for the banks.