There are several ways on how to transfer money to Vietnam such as Western Union, SWIFT, MoneyGram, Uniteller, PayPal, MoMo, all fast, secure, and convenient.
When I first transferred money to Vietnam, I thought it would be complicated, but it was actually quite easy. However, I also encountered some small difficulties such as the transfer fee was a bit high and the time to receive the money was slower than expected if I used the wrong service.
6 most used ways to transfer money from abroad to Vietnam
I am living in Melbourne, and every month I send money to my parents in Hung Yen. At first, I thought it was quite complicated, but after trying many different ways, I have gained a lot of experience about it.speed, exchange rate and fees of each form of money transfer. Here is my real experience with the three ways I used and three others I researched.
#1. Transfer money via Western Union
The first time I sent money back to Vietnam was through Western Union, mainly because it is an easy service to find in Australia. I carry 1,000 AUD (equivalent to about 16 million VND) to the Western Union counter in central Melbourne. After filling in the recipient’s information, presenting my passport and paying the money, I received the MTCN code to send to my father in Vietnam.
Only after 10 minutes, my dad was able to pick up cash at a Western Union agent near his home. The fee I paid was 10 AUD, exchange rate approximately 1 AUD = 15,950 VND, slightly lower than the bank.
In my opinion, Western Union is very fast, suitable for urgent money transfers. However, if you send a lot or transfer frequently, the fees will be an issue. In addition, the exchange rate is not very good, so the total amount received will be a little lower than other forms.
#2. Transfer money via SWIFT system
Then I tried to transfer money through SWIFT, which means transferring directly from a bank in Australia to a bank account in Vietnam. That time I sent 2,000 AUD (about 32 million VND) from a Commonwealth Bank account to Vietcombank account. The transaction is done online and takes about 3 working days for the recipient to receive the money.
The transfer fee is18 AUD, but the rate is higher than Western Union, about 1 AUD = 16,050 VND, so the total amount actually received is still slightly higher.
I find this method extremely safe and convenient, especially if you are used to online banking. However, the downside is that it takes a bit of time, especially if it is a weekend or a holiday, and the verification process can take longer if it is your first time transferring. However, for large transactions, SWIFT is the most reliable option.
#3. Transfer money via PayPal
I also used PayPal to send money to my sister who is studying in Ho Chi Minh City. We both have PayPal accounts linked to local banks. That time, I sent 500 AUD, and PayPal minus approx.3.5% transaction fee, equivalent to 17.5 AUD, quite high compared to other methods.
However, the plus point is that I don’t need to go to the bank or transaction counter, just a few steps on the phone and it’s done. The money arrives in my brother’s PayPal account after about 24 hours, then he withdraws it to a Vietnamese bank.
In my opinion, PayPal is suitable when you need to transfer money quickly to someone with an online account, but if you transfer a large amount of money, the fee will be quite expensive.
#4. Transfer money via UniTeller
I learned about UniTeller through a Vietnamese friend living in Sydney, and was really impressed with the convenience of this service. Compared to Western Union, UniTeller has cheaper fees (only about 5-10 AUD/transaction) and very fast processing speed, usually only takes a few hours for relatives in Vietnam to receive the money.
I just need to create an account, enter the recipient’s information (name, bank account number in Vietnam such as Vietcombank or Agribank), then pay online with an Australian bank card. The interface is easy to use, with Vietnamese support so the operation is extremely fast. This process is also convenient for travelers looking for the best ATM to withdraw money in Vietnam, as many online transfer platforms cooperate with major local banks for quick cash access.
What I like most is that UniTeller clearly displays the exchange rate before sending, helping me know exactly how much money the recipient will receive (for example, sending 1,000 AUD will receive about 16,700,000 VND, after deducting fees).
In addition, UniTeller also sends notifications via email and text when the transaction is completed, very reassuring and professional.
#5. Transfer money online via MoneyGram
I have tried transferring money to Vietnam via MoneyGram, and I have to say this is one of the fastest and most convenient ways I have ever used. Just go to a partner branch or do it online, fill in the recipient information and you can send it immediately.
It only takes my relatives in Vietnam about 10 – 15 minutes to receive cash at the counter, no bank account required. What I like most is that MoneyGram is available at most major banks such as Vietcombank, Agribank, BIDV, so it is easy to find a receiving point.
However, the fee can be a bit higher if you send a small amount, and the exchange rate between Australian dollars (AUD) and Vietnamese currency is sometimes lower than the market rate.
For example, 1 AUD is sometimes only about 15,500 – 16,000 VND. However, with the safety and speed of MoneyGram, I still consider this a reliable choice when you need to transfer money urgently to Vietnam.
#6. Receive money via MoMo e-wallet
I have to say that of all the ways to receive money from abroad, receiving money via MoMo wallet is the way that surprised me the most becausefast and convenient than I thought. Before, I often went to the bank or used Western Union, but since knowing MoMo, everything has become much simpler.
MoMo the most popular e-wallet application in Vietnam, allowing users to receive international money through partners such as Western Union, MoneyGram, or UniTellerright on my phone. I just open the app, select the item“Receive international money”, enter the transaction code provided by the sender, and the money will be sent to your wallet in minutes. No paperwork or waiting.
What I like isMoMo supports automatic conversion to Vietnamese currency, so I can know exactly how much money I receive. For example, when my relatives in Australia send me 100 AUD, MoMo automatically converts to approximately 1,600,000 – 1,700,000 VND, depending on the exchange rate at the time, clearly displayed in the application.
To also appreciate the part security and customer care of MoMo – each transaction has SMS and email notification, so I am completely assured. However, a small limitation the sender must use the service of a partner linked to MoMo, but cannot send directly from international wallets.
Regulations on money transfer from abroad to Vietnam
When researching how to send money from Australia to Vietnam, I realized that each money transfer system has its own separate regulations on limits, fees, and transaction processing. Understanding these factors helps me be more proactive and avoid trouble when making money transfers, an important tip for anyone planning to travel Vietnam and manage their finances efficiently.
First of all, the money transfer limitDepending on the service, each transaction is usually limited to a range of 5,000 – 10,000 USD (equivalent to 7,000 – 15,000 AUD). If I want to send a larger amount, the bank will require additional documentation to prove the source of the money and the purpose of the transfer, such as supporting relatives, paying school fees or investing. This is a general rule to ensure compliance with anti-money laundering policies.
About money transfer fee, each channel has different fees. When I use Western Union hoặc MoneyGram, fees often fluctuate from 5 – 20 AUD for each submission, and with transfer via the SWIFT system, the fee can be up to 20 – 50 AUD, depending on the intermediary bank. As for online platforms such as PayPal hay Wise, the fees are usually lower, about 2 – 5% of total transfer amount. Suitable when sending small amounts and want to do it quickly.
Finallytime to receive money. The times I transferred money over Western Union, MoneyGram or MoMo, relatives in Vietnam can receive the money after a few minutes to a few hours. Conversely, if you switch to SWIFT, processing time is usually longer, about 1 to 3 business days, especially when the transaction goes through many intermediary banks.
From personal experience, I have found that transferring money to Vietnam is quite convenient nowadays, as long as the sender understands the regulations of each system. If I just need to send quickly, I will choose e-wallet or Western Union; but if I transfer a large amount of money, I always prioritize banks to ensure safety and transparency.h
04 experiences to help transfer money safely and economically
After sending money from Australia to Vietnam many times, I have realized that not only choosing the right money transfer channel is important, but also know how to optimize costs and ensure transaction safety. Here are four personal tips that I have found most effective:
- Always compare exchange rates before transferring: I often check the exchange rates between platforms like PayPal, Wise and Western Union. There were times when the difference was up to 300,000 – 500,000 VND just because of the exchange rate difference of 1 – 2%. Therefore, I always choose the time when the exchange rate is stable or has a promotion to deposit money.
- Using a verified account: Once, my transaction was held for nearly 2 days because my account was not fully verified. Since then, I have always updated my documents, personal information and linked my own bank account so that the transaction is approved quickly, avoiding the risk of being blocked.
- Transfer money on business days instead of weekends: I once sent a transfer on a Friday afternoon and it didn’t arrive until the following Monday. After that experience, I only make transfers Monday to Thursday, especially in the morning, when the bank processes them fastest.
- Always save your receipt and transaction code: Whether sending via PayPal or Western Union, I always take a screenshot of the confirmation and save the email receipt. There were times when my relatives did not receive the money, I just had to resend the MTCN code and they could receive it at the counter.
Conclusion
Today, transferring money to Vietnam has become much easier and more flexible thanks to the growth of digital financial platforms. If you are still wondering how to transfer money to Vietnam most efficiently, take time to consider the balance between cost, speed, and convenience, because every wise choice ensures your money reaches your loved ones safely and in full.
