A guide to international money transfers via digital channels
Vietnam's money transfer market is growing quickly. Overseas Vietnamese send around USD16 billion home every year[@2025-remittance], mainly from Asia and the US. And outward remittances from Vietnam are expected to reach USD176 million by 2028[@2028-outwardremit].
If you plan to send money internationally, here are some tips to save on fees, navigate exchange rates, and make safe, efficient transfers.
In this article:
What do you need to make an international bank transfer?
How much money can you send and receive?
What do you need to make an international bank transfer?
Getting the details right helps your money arrive safely. Think of it like preparing for a trip – having your documents ready leads to a smooth journey.
Here's what you'll usually need to send money overseas:
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Recipient's full name: This must match their bank account name exactly
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Recipient's address: A full residential address (including city and country) is often needed for verification
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Bank name and address: The name and branch location of the receiving bank
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Account number or IBAN: Europe and some regions use the International Bank Account Number (IBAN); otherwise, use the standard account number
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SWIFT/BIC/LCC Code: This unique code (subject to beneficiary banks' requirement) helps direct your transfer to the right bank – for HSBC Vietnam, the SWIFT code is HSBCVNVX
Be sure to double-check these details with the recipient to avoid errors. For more information, see our Guidance on Payment in Foreign Currency.
Ways to transfer money
When choosing an international money transfer service, consider the balance of speed, cost and convenience.
| Method | Speed | Cost | Convenience |
|---|---|---|---|
| Bank account | 1–5 business days, reliable | Competitive fees, secure and trusted | Ideal for large transfers; globally accepted |
| International money transfer services via registered financial companies | Often same-day or instant | High rates, transparent fees | Apps with cash pickup and wallet options |
| Credit or debit card | Instant or within hours | High fees, especially for credit cards | Best for small, urgent transfers |
| E-payment (digital wallet) | Near-instant within platforms | Low for domestic, higher for international | Convenient for tech-savvy users |
| Method | Bank account | Bank account |
|---|---|---|
| Speed | 1–5 business days, reliable | 1–5 business days, reliable |
| Cost | Competitive fees, secure and trusted | Competitive fees, secure and trusted |
| Convenience | Ideal for large transfers; globally accepted | Ideal for large transfers; globally accepted |
| Method | International money transfer services via registered financial companies | International money transfer services via registered financial companies |
| Speed | Often same-day or instant | Often same-day or instant |
| Cost | High rates, transparent fees | High rates, transparent fees |
| Convenience | Apps with cash pickup and wallet options | Apps with cash pickup and wallet options |
| Method | Credit or debit card | Credit or debit card |
| Speed | Instant or within hours | Instant or within hours |
| Cost | High fees, especially for credit cards | High fees, especially for credit cards |
| Convenience | Best for small, urgent transfers | Best for small, urgent transfers |
| Method | E-payment (digital wallet) | E-payment (digital wallet) |
| Speed | Near-instant within platforms | Near-instant within platforms |
| Cost | Low for domestic, higher for international | Low for domestic, higher for international |
| Convenience | Convenient for tech-savvy users | Convenient for tech-savvy users |
Banking apps like HSBC Vietnam can support both bank account transfers for large, secure transactions and faster, wallet-like transfers for convenience.
How to send money between global accounts
HSBC Vietnam's Global View and Global Transfers make it simple to manage HSBC accounts worldwide. You can move money instantly, often with no fees.
How much money can you send and receive?
Rules for sending money from Vietnam are in place to prevent money laundering and to keep your funds safe.
Outward remittances
Vietnamese residents can transfer money abroad for purposes like education, healthcare, business or travel, following guidelines set by the State Bank of Vietnam (SBV). The amount you can send depends on the purpose and supporting documents, such as invoices or tuition fees. For larger transfers, banks may require additional documentation and report transactions to regulatory authorities.
Transfer limits vary by bank and account type. For example, HSBC Premier account holders can transfer up to USD100,000 daily between their own accounts. Transfers to other HSBC accounts are capped at USD50,000, while transfers to non-HSBC accounts have lower limits. Contact your bank for the most up-to-date information on transfer limits and requirements.
Inward remittances
There's no official limit on receiving money in Vietnam, but banks may have their own daily limits and rules, as well as requirements for proof of purpose.
How long does an international money transfer take?
Most transfers arrive in 1 to 5 business days, but timing can change depending on:
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Destination - some countries process transfers faster than others
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Currency - major currencies (like USD) process faster
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Timing - transfers made on weekends or holidays take longer
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Amount - large transfers may need extra checks
What are international money transfer fees?
When sending money abroad, it's important to understand the costs and exchange rates. International transfer fees usually include:
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Transfer feeThis is the main fee for processing the payment and depends on the service and amount sent
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Exchange rate marginThe difference between the base rate and the rate you get – it often comes with a small extra charge
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Intermediary feesSometimes other banks along the way deduct fees, so the recipient may get less
How much does HSBC charge for international transfers?
The fee depends on your account and method. HSBC Premier customers can transfer between their HSBC accounts in different countries for free. Overseas internet banking fees are approximately 0.11% of the transfer amount, with a minimum fee of VND220,000 and a maximum of VND2,200,000. A correspondent bank charge of VND600,000 also applies. Please note that rates are subject to change – visit our Personal Banking Tariff page for more information.
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Frequently asked questions
Can I transfer US dollars domestically?
Usually not. Vietnam requires domestic transfers to use Vietnamese Dong (VND). You can send foreign currency only in special cases or when transferring to your own account before sending money abroad.
How do I transfer money to Vietnam from abroad?
You can transfer money to Vietnam by using international wire transfers (SWIFT), digital transfer services, and options provided by banks like HSBC Vietnam.
What is the money transfer fee from abroad to Vietnam?
Fees depend on the provider and where you are sending from. Banks may charge both a flat fee or a percentage depending on the bank tariff. Digital services may have lower fees.
What documents are needed to send money overseas for education?
You usually need a tuition bill or invoice from the school and acceptance or student confirmation documents.
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