Send money to Vietnam
See today's live rates — and exactly what your recipient receives, after every fee.
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Today's best rates to Vietnam
As of 11 October 2026, sending £1,000 to Vietnam, your recipient gets the most with Instarem: 34,241,000.00 VND, the best of 5 providers compared.
| Provider | Rate | Fee | Recipient gets | Speed | |
|---|---|---|---|---|---|
34241.00 0.04% better | £0 | 34,241,000.00 VND | Within 2 days | Send | |
TransferGo | 34081.56 0.42% worse | £0 | 34,081,561.43 VND | 1–2 days | Send |
34075.30 0.44% worse | £0 | 34,075,298.24 VND | Within 2 days | Send | |
34253.50 0.08% better | £7.03 | 34,012,697.90 VND | Within 2 days | Send | |
31312.50 8.51% worse | £4.99 | 31,156,253.98 VND | Minutes to days | Send |
When you send money home to Vietnam, the cheapest route is almost always a specialist money-transfer app or company rather than your bank. The cost that matters most is hidden in the exchange rate: a bank typically keeps 2% to 4% in the rate, on top of any fee — so always judge a provider by the amount that actually arrives, not by a "no fee" claim. Below is exactly how the money reaches Vietnam, what it really costs, and how to sidestep the most expensive mistakes.
Vietnam is one of the world's top remittance economies, and the money does real work: a large share goes into family housing, small shops and savings rather than day-to-day spending.
The flow is also unusually broad — overseas Vietnamese are spread across the United States, South Korea, Japan, Australia, Germany and the UK, which is why so many corridors and payout options into Vietnam exist.
How the money reaches Vietnam
How your recipient gets paid
Vietnam does not use an IBAN — there is no such thing as a Vietnamese IBAN, so a form that demands one was simply not built for Vietnam.
You need the recipient's bank account number (typically 13 digits at Vietcombank) and their bank name; the payout is usually delivered in seconds over NAPAS 247, the State Bank of Vietnam's round-the-clock instant interbank network.
For the international leg the receiving bank's SWIFT/BIC is used behind the scenes — Vietcombank's is BFTVVNVX, for example.
How the money is delivered
Once your pounds are converted, the money is delivered locally inside Vietnam. You don't choose the network — the provider does — but here is what is used.
Ways your recipient can receive it
Most providers can pay into a bank account via NAPAS 247 (Vietcombank, BIDV, VietinBank, Agribank, Techcombank, VPBank, MB and 60+ other members), e-wallet (MoMo ~31m users, ZaloPay ~20m users, VNPay) or cash pickup. The right choice is usually whichever is cheapest and fastest for your recipient. Cash pickup is the fallback where a bank account or wallet isn't available.
What you actually pay to send money to Vietnam
The price of a transfer is not really the upfront fee — it is mostly hidden in the exchange rate. None of it is obvious, so each is worth knowing before you send.
The exchange-rate mark-up
The big one. Banks and some apps quote a rate a little worse than the real mid-market rate and keep the difference — often 2% to 4%. Because it is a slice of the whole amount, it usually dwarfs any upfront fee.
Correspondent-bank fees
An ordinary bank wire can pass through one or two intermediary banks, each able to take a small cut before the money arrives. Specialists using local payment networks usually avoid this entirely.
"No fee" hiding a poor rate
A headline "zero fee" means little if the rate is weak. Judge an offer by the money that actually arrives, not by whether a fee is shown — the comparison above ranks providers exactly that way.
Wallet payout can carry a different rate than bank payout
Paying into a MoMo or ZaloPay wallet feels modern and instant, but some providers price wallet payouts slightly differently from a plain bank-account payout — a marginally weaker rate, or a small wallet load step.
Before you pick the wallet option, check the dong total it quotes against the straight bank-account total for the same amount, and choose whichever actually lands more.
The exchange-rate spread is where the real cost hides
The exchange-rate spread is where the real cost hides
The trap with Vietnam is assuming a 'no fee' transfer is the cheapest.
The dong is run on a managed float by the State Bank of Vietnam — each morning the SBV sets a daily reference rate against the US dollar and lets banks trade within a ±5% band (widened from ±3% in October 2022) — so the headline GBP→VND rate looks reassuringly stable.
That stability is exactly what lulls people: a bank or operator can still quietly widen the spread it adds to that rate, often 2% to 4.5%. And because a single pound buys tens of thousands of dong, even a 2% gap turns into hundreds of thousands of dong your family never sees.
Worked example at a typical rate near 1 GBP ≈ 34,700 ₫: £500 should arrive as about 17.35 million ₫; a 2-4% bank margin quietly skims roughly 350,000-700,000 ₫ off that before it lands. Always compare on the dong that actually reaches your recipient's account, not on the fee or the headline rate.
How to avoid fraud when sending money to Vietnam
On any large transfer the biggest risk is rarely the exchange rate — it is criminals getting between you and the money. These simple rules are worth knowing before you send.
Fake transfer-confirmation scam
Rule: do not act on a screenshot or VietQR 'paid' message claiming money has been sent. NAPAS 247 settles in seconds, so a genuine payment will already show in your own banking app or e-wallet — confirm the dong has actually cleared there before releasing goods or sending anything back. Forged confirmation screens are the single most common trick.
OTP / banking-code scam
Rule: never share a one-time password (OTP), card PIN or internet-banking login to RECEIVE money. No genuine NAPAS 247 transfer ever needs your OTP or PIN to pay you in — those codes only ever authorise money LEAVING your account or wallet, so anyone asking for them while 'sending you money' is stealing from you.
"Overpaid you, please refund" scam
Rule: if you ever need to return money, make a fresh transfer yourself to a bank account number you have verified — never use a refund link, reversal button or VietQR code the other person sends you. The classic version pairs a fake 'overpayment' screenshot with an urgent demand to refund the difference before the (non-existent) money is reversed.
Advance-fee / "clearance fee" scam
Rule: no bank, e-wallet or NAPAS operator charges a fee to 'release' an incoming remittance — payout is automatic and instant. Anyone demanding an upfront 'clearance', 'tax' or 'unlock' fee to free money supposedly waiting for you in Vietnam is a fraudster; the SBV does not levy any such charge on inbound family transfers.
If you are a victim of fraud, report scams to the State Bank of Vietnam, and if you are sending from the UK report it to Action Fraud at actionfraud.police.uk or call 0300 123 2040.
Is money sent to Vietnam taxed?
What the rules say
money sent to support family in Vietnam is tax-free for the person receiving it — overseas remittances from relatives abroad are listed as exempt income under Article 4 of Vietnam's Law on Personal Income Tax (2007) and Circular 111/2013/TT-BTC, so the SBV and tax authorities do not tax genuine family support on the way in (general information, not tax advice)
Keep your paperwork
On a large transfer the UK firm must run a source-of-funds check — that is a compliance step, not a tax. Keep evidence of where the money came from (a sale statement, pension or investment paperwork, or bank statements) and a big transfer moves through far more smoothly.
When is the best time to send money to Vietnam?
For a one-off transfer the rate on the day is what counts — and it moves constantly. The aim is less about guessing the perfect moment and more about removing risk on payments you already know are coming. As a guide, once the money is sent usually seconds, not minutes — NAPAS 247 settles bank-to-bank in about 7-10 seconds, 24 hours a day including weekends and Tet, paying straight into the recipient's bank account or e-wallet; the only real wait is the sending-side checks before your money leaves the UK.
The one date that moves this corridor is Tet, the Lunar New Year in late January or February. In the four to six weeks before it, money pours home and operators tend to widen their margins while everyone scrambles to send at once.
The simple fix is to send a week or two early, before the rush builds — your recipient gets the cash in good time for the holiday and you skip the worst of the peak-season spread. The rest of the year is steady, so any ordinary weekday is fine.
Lock the rate for a known date. If a payment is weeks away, many specialists let you fix today's rate now (a forward contract), so a sudden market move can't blow a hole in your budget before the money is due.
Set a target with a rate alert. For flexible transfers, you can set the rate you want and be notified (or trade automatically) when the market reaches it — useful when you have time on your side and no fixed deadline.
The costliest mistakes when sending to Vietnam
A handful of avoidable slips account for most of the money people lose. Each is easy to sidestep once you know to look.
Defaulting to your bank without comparing. The bank's rate mark-up usually costs far more than any fee, and it is easy to miss because it is built into the rate rather than shown separately.
Judging by the fee, not the amount delivered. A "no fee" offer can still be the worst deal if the rate is poor. Always compare on what actually arrives.
Mistyping the account or bank code. If the account details are wrong the transfer can bounce back after a delay, or reach the wrong account. Always check them against details your recipient sent in writing.
Trusting bank details that arrived by email. Payment-diversion fraud is a real risk — always confirm the receiving account by phone on a trusted number first.
Using an unregulated or cold-calling firm. Check the company on the FCA Register before you move any money, and never act on an out-of-the-blue offer.
Mistyping the long account number. Vietnamese bank account numbers are long — often around 13 digits — and one wrong digit can bounce the transfer or, worse, send it to a stranger. Copy the number straight from a message rather than typing it, and where you can, scan the recipient's VietQR code instead so the account details fill themselves in.
Choosing cash pickup when a bank payout would be cheaper. Cash pickup feels familiar, but it is usually the priciest and slowest route. If your recipient has any bank account, a NAPAS 247 payout normally costs less and lands in seconds, day or night. Keep cash pickup as the fallback for someone with no account, not the default.
Recipient name not matching the bank record. The name on the transfer should match the name on the recipient's account exactly, including the order of family and given names. A mismatch can hold the payment for manual checks or reject it. Confirm how their name is spelled on the account before you send, not after it stalls.
How do most people send money to Vietnam?
For most people sending money home, the simplest and cheapest route is a specialist money-transfer app or company paying straight into the recipient's bank account via NAPAS 247 (Vietcombank, BIDV, VietinBank, Agribank, Techcombank, VPBank, MB and 60+ other members). Judge every provider by the amount that actually arrives — and confirm the receiving details before you send.
For most people the right answer is a specialist transfer paid straight into a Vietnamese bank account over NAPAS 247: compare on the dong that actually arrives, send a week or two before Tet if it falls near your date, and double-check the account number and name.
Do that and your money reaches family fast, in full, and without the bank-spread leak.
Frequently asked questions about sending money to Vietnam
No. Vietnam does not use an IBAN — there is no Vietnamese IBAN at all, so a form demanding one was not built for Vietnam. You need the recipient's bank account number (typically 13 digits at a bank like Vietcombank) and their bank name.
Most providers deliver straight to that account over NAPAS 247, the State Bank of Vietnam's instant interbank network, in seconds. For the international leg, the bank's SWIFT/BIC code is used behind the scenes — Vietcombank's is BFTVVNVX, for instance.
Usually seconds, not minutes. NAPAS 247 settles bank-to-bank in roughly 7-10 seconds and runs 24/7, including weekends and right through the Tet holiday — it cleared 8.9 billion instant transfers in 2024 alone.
The money lands straight in the recipient's bank account or linked e-wallet. The slower part is normally the compliance checks on the UK side before the money leaves your account.
Almost always a specialist money-transfer company rather than your high-street bank. Compare providers by the number of dong that actually arrives, counting both the exchange rate and any fee.
The dong is run on a managed float by the State Bank of Vietnam, so the headline rate looks stable — which means the provider's hidden spread (often 2-4.5% with a bank) is where most of the cost sits. At a rate near 34,700 ₫ to the pound, a 3% spread on £500 quietly costs about 520,000 ₫. See the live comparison above.
Often yes. Vietnam's e-wallets are huge — MoMo has around 31 million users and ZaloPay about 20 million — and many providers can pay into a linked bank account that funds the wallet over NAPAS 247.
You can also scan the recipient's VietQR code instead of typing their account number. A traditional bank account works the same way, and cash pickup is available as a fallback where the recipient has no account.
No. Overseas remittances sent by relatives abroad to family in Vietnam are tax-free for the person receiving them — they are listed as exempt income under Article 4 of Vietnam's Law on Personal Income Tax (2007) and Circular 111/2013/TT-BTC.
This is why Vietnam can attract a record US$16 billion-plus a year in remittances without taxing recipients. This is general information, not tax advice.
The recipient's full name exactly as it appears on their account, their bank account number (around 13 digits at most banks) and their bank name — for example Vietcombank, BIDV, VietinBank, Agribank, Techcombank or VPBank.
For a wallet payout you may instead need their registered phone number, or you can simply scan their VietQR code. You do not need an IBAN, because Vietnam does not use one.
Demand peaks sharply in the weeks before Tet, the Lunar New Year, when much of the country's roughly 6 million overseas Vietnamese wire money home — Ho Chi Minh City alone pulled in over US$10 billion in 2025.
Operators can widen their margins when volumes surge, so sending a week or two ahead of Tet usually means a better rate and a calmer transfer. Outside the Tet rush the managed dong moves little day to day, but the provider's spread still varies — so check the live rate above before you commit.
Our sources & how we keep this current
Last updated: June 2026. The live rates above refresh automatically, and we review the rest of this guide every month — updating it whenever the rules on payments, tax or regulation change.