International Money Transfers in Vietnam: Complete Guide for Foreign Teachers

International money transfers from Vietnam typically cost $6.45-65 USD and take 30 minutes to 5 days depending on your method. Digital platforms like Wise offer the lowest fees at $6.45-8.88 USD with 70% arriving in under 20 seconds, while traditional bank transfers cost $25-65 USD and take 1-5 business days. Card-based transfers via Visa Direct or Mastercard Moneysend take just 30 minutes but charge 0.25-3% fees. New 2026 regulations under Circular 27/2025/TT-NHNN require financial institutions to report international transfers of ≥$1,000 USD, but this reporting is automatic by banks—not your responsibility as the sender.

What Are the Main Methods to Transfer Money from Vietnam Internationally?

Four primary methods exist for sending money from Vietnam internationally: SWIFT bank transfers ($25-65 USD, 1-5 days), digital platforms like Wise ($6.45-28 USD, seconds to 1 day), card-based transfers via Visa Direct/Mastercard Moneysend (0.25-3% fee, 30 minutes), and cash pickup services like Western Union/MoneyGram ($4-55 USD, minutes to hours).

According to VietinBank’s official remittance documentation (2026), SWIFT transfers cost $25-65 USD per transaction and process within 1-5 business days. Wise’s Help Centre confirms their platform charges $6.45 USD minimum for transfers from Wise account balance, with 70% of transfers completing in under 20 seconds according to their January 2026 data. The State Bank of Vietnam’s Circular 17/2024/TT-NHNN, effective November 2024, now requires biometric verification for all international transfer initiations.

Transfer Method	Cost Range	Transfer Speed	Best For
SWIFT Bank Transfer	$25-65 USD	1-5 days	Large amounts (>$10,000)
Digital Platform (Wise)	$6.45-28 USD	70% <20 seconds	Regular transfers ($100-10,000)
Card-Based (Visa Direct)	0.25-3% fee	30 minutes	Urgent small amounts (<$1,000)
Cash Pickup (Western Union)	$4-55 USD + 3-5% markup	Minutes to hours	Recipients without bank accounts

SWIFT Bank Transfers (Traditional Method)

SWIFT (Society for Worldwide Interbank Financial Telecommunication) remains the standard for bank-to-bank international transfers. Vietnamese banks including Vietcombank (SWIFT: BFTVVNVX), Techcombank (VTCBVNVX), VietinBank (ICBVVNVX), and BIDV (BIDVVNVX) all participate in the SWIFT network.

According to VietinBank’s 2026 fee schedule, outgoing SWIFT transfers cost $25-65 USD, with the final amount depending on:

• Number of correspondent (intermediary) banks involved
• Destination country regulations
• Transfer amount and currency
• Receiving bank’s incoming wire fees ($15-50 USD typical)

The transfer process requires 1-5 business days because funds route through multiple correspondent banks before reaching the final destination. According to Wise’s 2026 guide on correspondent fees, each intermediary bank may deduct $15-50 USD, reducing the amount your recipient receives unless you select “SHA” (shared) or “OUR” (sender pays all fees) options.

Digital Transfer Platforms

Digital platforms have revolutionized international transfers from Vietnam since 2023. According to Wise’s January 2026 data:

• Wise: Charges $6.45 USD (minimum, from Wise account balance) or $8.88 USD total (including $1.70 ACH funding fee + $7.18 Wise fee) for a $1,000 USD transfer to the US. Uses mid-market exchange rate with 0% markup. 70% of transfers arrive in under 20 seconds, 95% within 24 hours
• Remitly: Fee starts at $1.49 USD (Economy) to $3.99 USD (Express), but applies 1-3% exchange rate markup
• OFX: $0 USD fee for transfers ≥$10,000, with 1-1.5% exchange rate markup. Delivery in 1-2 business days

According to Exiap’s November 2025 comparison, Wise consistently offers the lowest total cost for transfers $500-10,000 to most countries, saving senders $131+ USD annually compared to traditional remittance services for monthly $2,000 transfers.

Card-Based Transfers (Visa Direct/Mastercard Moneysend)

Launched in Vietnam in December 2023, card-to-card transfers offer the fastest speed:

• Transfer Time: 30 minutes average (VietinBank confirmation 2026)
• Fee Structure: 0.25% of transfer amount (minimum $1 USD)
• Maximum Limit: $5,000 USD per transaction for Visa Direct
• Requirements: Valid Visa or Mastercard debit/credit card from Vietnamese bank

According to VietinBank’s 2026 service guide, this method is optimal for urgent small-to-medium transfers under $1,000 where speed outweighs the percentage-based fee cost.

Cash Pickup Services

Western Union and MoneyGram operate through agent networks in 200+ countries:

• Transfer Fee: $4-15 USD for transfers $100-500, $25-55 USD for $1,000-5,000
• Exchange Rate Markup: 3-5% below mid-market rate
• Speed: Minutes for cash pickup, 1-3 days for bank deposit
• Network: Western Union has 550,000+ agent locations, MoneyGram has 350,000+ globally

According to MoneyTransfers.com’s January 2026 data, cash pickup services cost 4-8% total (fees + exchange markup) making them the most expensive option, but valuable when recipients lack bank accounts.

Discover Related Guides: How to Open a Bank Account in Vietnam for Foreign Teachers

How Long Do International Transfers from Vietnam Take?

Transfer times from Vietnam range from 30 minutes (card-based) to 5 business days (SWIFT), with digital platforms averaging under 20 seconds for 70% of transfers according to Wise’s 2026 data. Processing speed depends on transfer method, destination country banking hours, currency conversion requirements, and compliance verification.

According to the State Bank of Vietnam’s Circular 27/2025/TT-NHNN (effective November 1, 2025), all financial institutions must complete anti-money laundering verification before processing transfers ≥$1,000 USD. VietinBank’s 2026 processing guide confirms SWIFT transfers require 1-5 business days, while Wise’s Help Centre (January 2026) reports 70% of transfers complete in under 20 seconds.

Transfer Method	Typical Processing Time	Factors Affecting Speed
Visa Direct / Moneysend	30 minutes	Card verification, daily limits
Wise / Digital Platforms	70% <20 seconds, 95% <24 hours	Funding method (Wise balance fastest)
SWIFT Bank Transfer	1-5 business days	Correspondent banks, destination country
Western Union (Cash)	Minutes to 4 hours	Agent availability, compliance checks
Bank Deposit via MoneyGram	1-3 business days	Receiving bank processing time

Card-Based Transfers: 30 Minutes

According to VietinBank’s Visa Direct service guide (2026), card-to-card transfers complete within 30 minutes under normal circumstances. The process involves:

1. Initiation (2-3 minutes): Vietnamese bank verifies card validity and available balance
2. Network Processing (5-10 minutes): Visa/Mastercard network routes transaction
3. Receiving Bank (15-20 minutes): Destination bank credits recipient’s card

Delays occur when:

• Transfer initiated outside receiving country’s banking hours
• Card daily/weekly limit reached (requires manual override)
• Compliance hold triggered for first-time recipient (additional 1-3 hours)

Digital Platform Transfers: Seconds to 24 Hours

Wise’s January 2026 speed data shows:

• 70% arrive in under 20 seconds
• 95% arrive within 24 hours
• Remaining 5% take up to 2 business days

Speed factors according to Wise Help Centre:

Fastest (Seconds):

• Funding from Wise account balance
• Common currency corridors (USD, EUR, GBP)
• Transfers during business hours in both countries

Slower (Hours to 1 Day):

• Bank transfer funding (requires 1-2 days for funds to reach Wise first)
• Less common currencies requiring manual conversion
• First transfer to new recipient (compliance verification)

Slowest (1-2 Days):

• VND (Vietnamese Dong) conversions (up to 2 working days per Wise’s VND Transfer Guide)
• Transfers ≥$1,000 USD requiring enhanced AML checks under Circular 27/2025

According to MoneyTransfers.com’s November 2025 analysis, Wise offers the fastest speed for $500-5,000 transfers when funded from Wise balance, making it optimal for foreign teachers regularly repatriating salary.

SWIFT Bank Transfers: 1-5 Business Days

VietinBank’s 2026 processing timeline for SWIFT transfers:

Timeline Stage	Duration	Process
Day 0 (Initiation)	Same day	Vietnamese bank debits account, submits SWIFT message
Day 1-2 (Routing)	1-2 days	Correspondent banks process and forward
Day 2-4 (Arrival)	1-2 days	Receiving bank credits account
Day 3-5 (Currency Conversion)	If needed	Additional time for non-USD currencies

According to Wise’s guide on correspondent fees (2026), transfers requiring 2+ correspondent banks typically take 4-5 business days versus 1-2 days for direct banking relationships.

Factors That Extend Processing Time

According to the State Bank of Vietnam’s Circular 27/2025/TT-NHNN documentation:

1. Compliance Holds (1-3 additional days):
   • First transfer to new recipient
   • Transfers ≥$10,000 USD (source of funds verification)
   • High-risk destination countries (FATF gray/blacklisted)
2. Weekend / Holiday Timing (+1-3 days):
   • Friday transfers may not process until Monday
   • Public holidays in sending or receiving country
   • December transfers (global banking slowdown)
3. Incomplete Information (+1-2 days per correction):
   • Incorrect SWIFT code
   • Missing recipient ID number
   • Insufficient transfer purpose documentation

According to BOSS Money’s 2026 transfer guide, initiating transfers before 10 AM on business days ensures same-day processing by the Vietnamese bank, minimizing delays.

What Documents Do I Need for International Transfers from Vietnam?

Sending money internationally from Vietnam requires government-issued ID (passport or national ID), recipient’s bank details (account number and SWIFT code), and proof of address for transfers ≥$5,000 USD. Additional source of funds documentation is mandatory for transfers ≥$10,000 USD, while purpose statement is required for amounts ≥$50,000 USD. Since November 2024, biometric verification (fingerprint or facial recognition) is mandatory for all international transfers under Circular 17/2024/TT-NHNN.

According to the State Bank of Vietnam’s Circular 17/2024/TT-NHNN (effective November 2024), all banks and payment service providers must implement biometric authentication for international money transfers. The Ministry of Public Security’s ID verification database integration means foreign workers must use passports with valid visa stamps. Vietnam’s Anti-Money Laundering Law 2022 and its implementing Circular 27/2025/TT-NHNN (effective November 1, 2025) establish enhanced customer due diligence requirements for transfers ≥$1,000 USD.

Standard Requirements (All Transfers):

• Government ID: Passport with valid visa OR Vietnamese national ID card
• Biometric Verification: Fingerprint scan or facial recognition (since Nov 2024)
• Recipient Bank Details: Full name, account number, SWIFT/BIC code, bank name
• Contact Information: Phone number and email for SMS/email confirmation

Amount-Based Additional Requirements:

Transfer Amount	Additional Documents	Legal Basis
$5,000-9,999	Proof of address (utility bill <3 months old)	Circular 27/2025 Art. 5
$10,000-49,999	Source of funds (employment contract, salary slip, tax return)	Anti-Money Laundering Law 2022
≥$50,000	Purpose statement + supporting contracts/invoices	Circular 20/2022 Art. 12

Sender Documentation Requirements

1. Identity Verification (Mandatory for All)

According to Circular 17/2024/TT-NHNN, effective November 2024, all Vietnamese banks and digital payment platforms must verify sender identity using:

For Foreign Nationals:

• Passport: Must show valid visa stamp (work permit visa, business visa, or tourist visa)
• Temporary Residence Card: Accepted if issued by Vietnam Immigration Department
• Biometric Authentication: Fingerprint scan or facial recognition at bank branch or through verified mobile banking app

For Vietnamese Citizens:

• Citizen Identification Card (CCCD): 12-digit number issued after 2016
• National ID Card (CMND): 9-digit number (being phased out by 2025)
• Passport: Vietnamese passport accepted as alternative

According to VietinBank’s 2026 compliance guide, first-time transfers require in-person branch visit for biometric registration. Subsequent transfers can be completed via mobile banking app with facial recognition.

2. Proof of Address (Required for Transfers ≥$5,000)

Acceptable documents according to Circular 27/2025/TT-NHNN Article 5:

• Utility bill (electricity, water, gas) dated within last 3 months
• Bank statement showing residential address (dated within last 3 months)
• Rental agreement with landlord’s signature and notarization
• Temporary Residence Registration (Giấy đăng ký tạm trú) from local police

For foreign teachers living in Vietnam, the Temporary Residence Registration is typically easiest as it’s required for work permit applications and is already notarized.

3. Source of Funds Documentation (Required for Transfers ≥$10,000)

According to the Anti-Money Laundering Law 2022 and implementing Circular 27/2025, banks must verify legal origin of funds for large transfers:

Acceptable Source of Funds Documentation:

• Employment Income: Monthly salary slip + employment contract showing salary amount
• Business Income: Tax return (Tờ khai thuế) + business license
• Savings/Investment: Bank statement showing account balance history ≥6 months
• Property Sale: Notarized sale contract + proof of payment receipt
• Inheritance: Court order or notarized inheritance document
• Loan: Bank loan agreement showing disbursement

For foreign teachers, monthly salary slip + employment contract is the standard and most straightforward documentation. According to Techcombank’s 2026 compliance manual, salary transfers from registered Vietnam-based employers automatically satisfy source of funds requirements for amounts up to $15,000 USD per transaction.

4. Transfer Purpose Statement (Required for Transfers ≥$50,000)

Circular 20/2022/TT-NHNN Article 12 requires detailed purpose statement for large transfers:

Permitted Purposes for Foreign Teachers:

• Salary Repatriation: “Transfer of employment income earned in Vietnam to home country”
• Family Support: “Financial support for family members abroad” + relationship proof
• Education: Tuition payment + university admission letter
• Medical: Hospital bill + medical treatment plan
• Property Purchase: Property purchase contract + down payment invoice
• Savings Transfer: “Transfer of legitimate savings to overseas account”
• Immigration/Visa Fees: Immigration application + fee invoice

According to Vietcombank’s 2026 foreign exchange manual, salary repatriation is the simplest purpose category for foreign teachers, requiring only employment contract as supporting document.

Recipient Information Requirements

Mandatory Recipient Details:

According to Circular 27/2025/TT-NHNN Article 9, financial institutions must report the following recipient information for all international transfers ≥$1,000 USD:

1. Full Legal Name: Exactly as shown on recipient’s bank account
2. Bank Account Number: Complete account number or IBAN
3. SWIFT/BIC Code: 8 or 11-character bank identifier (examples: BOFAUS3N for Bank of America, CHASUS33 for Chase)
4. Bank Name: Full registered name of receiving bank
5. Bank Address: Receiving bank’s registered address
6. Recipient Address: Residential or business address

Common SWIFT Codes for US Banks (from Wise 2026 directory):

• Bank of America: BOFAUS3N (USD receiving), BOFAUS6S (foreign currency)
• Chase: CHASUS33
• Wells Fargo: WFBIUS6S
• Citibank: CITIUS33
• HSBC USA: MRMDUS33

Biometric Verification Requirements

According to Circular 17/2024/TT-NHNN (November 2024 implementation):

First-Time Setup (In-Person Required):

1. Visit bank branch with passport/ID
2. Register fingerprint or facial biometric data
3. Link biometric to mobile banking app
4. Set up SMS/email notifications for transfer confirmations

Subsequent Transfers (Mobile Banking):

1. Open bank’s mobile app
2. Navigate to international transfer section
3. Complete facial recognition or fingerprint scan
4. Enter transfer details + submit

According to VietinBank’s 2026 customer guide, biometric verification cannot be bypassed, and transfers initiated without proper biometric authentication will be automatically rejected by the system.

Special Cases: Platform-Specific Requirements

Wise Requirements: According to Wise Help Centre (2026):

• Photo ID verification during account setup (upload passport scan)
• Proof of address for transfers ≥$5,000 cumulative (lifetime account total)
• Source of funds questionnaire for transfers ≥$10,000
• Video verification call for large first-time transfers (>$15,000)

Western Union Requirements:

• Government ID at agent location
• Transfer Control Number (MTCN) provided to recipient
• Security question/answer (optional, for added verification)
• No bank account needed for sender or recipient

According to MoneyGram’s 2026 compliance guide, cash pickup services have lower documentation requirements than bank transfers, making them accessible but more expensive.

How Much Do International Transfers from Vietnam Cost?

International transfer costs from Vietnam range from $6.45 USD (Wise, from account balance) to $80+ USD (traditional banks with correspondent fees). For a $1,000 USD transfer, Wise costs $8.88 total (0.89% effective rate), while Vietnamese bank SWIFT transfers cost $25-65 USD upfront plus 2-4% exchange rate markup, totaling $45-105 total. Card-based transfers charge 0.25-3% of amount ($2.50-30 for $1,000), while Western Union costs $15-35 USD fee plus 3-5% exchange markup ($45-85 total).

According to VietinBank’s 2026 Overseas Remittance Service Fee Schedule, outgoing SWIFT transfers cost $25-65 USD with maximum $200 USD cap. Wise’s January 2026 pricing data shows $6.45 USD minimum fee (from Wise balance) or $8.88 USD total (ACH-funded) for US transfers, using mid-market rate with 0% markup. Vietcombank’s 2026 fee schedule confirms 2-4% exchange rate margin above mid-market rate. According to Exiap’s November 2025 comparison, Wise saves users $131.60 USD annually versus Xoom for monthly $2,000 transfers.

Cost Comparison for Common Transfer Amounts:

Method	$500 Transfer	$5,000 Transfer	$10,000 Transfer
Wise	$6.45-7 USD (1.3-1.4%)	$28-32 USD (0.56-0.64%)	$45-53 USD (0.45-0.53%)
Vietnamese Bank (SWIFT)	$40-60 total (8-12%)	$150-265 total (3-5.3%)	$275-465 total (2.75-4.65%)
Visa Direct / Moneysend	$1.25-15 USD (0.25-3%)	$12.50-150 USD (0.25-3%)	$25-300 USD (0.25-3%)
Western Union	$15-25 + markup (6-8%)	$35-55 + markup (4-6%)	$55-85 + markup (3.5-5%)
OFX (≥$10K only)	N/A	$51-75 (1-1.5%)	$100-150 (1-1.5%)

Digital Platform Costs (Wise – Lowest Cost Option)

According to Wise’s January 2026 fee calculator:

$1,000 USD Transfer to US:

• From Wise Account Balance: $6.45 USD total
• From ACH Bank Transfer: $1.70 USD (ACH fee) + $7.18 USD (Wise fee) = $8.88 USD total (0.89% effective rate)
• From Debit Card: $10.72 USD total (1.07%)
• From Wire Transfer: $13.29 USD total (1.33%)

$5,000 USD Transfer to US:

• From Wise Balance: $28.19 USD (0.56%)
• From ACH: $31.88 USD (0.64%)

According to MoneyTransfers.com’s November 2025 analysis, Wise uses mid-market exchange rate (the rate banks use to trade with each other, found on Google) with 0% markup, making it the most cost-effective for transfers $500-10,000 USD.

Annual Savings Example (Foreign Teacher Repatriating Monthly Salary):

• Monthly transfer: $2,000 USD
• Wise annual cost: 12 months × $16 = $192 USD/year
• Traditional bank annual cost: 12 months × $70 = $840 USD/year
• Annual savings: $648 USD using Wise

Vietnamese Bank SWIFT Transfer Costs

According to VietinBank’s 2026 and Vietcombank’s 2026 fee schedules:

Upfront Bank Fees:

• Outgoing SWIFT fee: $25-65 USD per transfer (varies by bank and destination)
• Currency conversion fee: 0.5-1% of amount
• Maximum fee cap: $200 USD (Vietcombank) or no cap (some banks)

Hidden Exchange Rate Markup: Vietnamese banks apply exchange rate margin according to BOSS Money’s 2026 guide:

• 2-4% markup below mid-market rate
• Example: If mid-market USD/VND rate is 25,000, bank may offer 24,000-24,500 (2-4% worse)
• For $5,000 transfer, this $100-200 USD hidden cost

Correspondent Bank Fees: According to Wise’s 2026 correspondent fees guide:

• $15-50 USD per intermediary bank
• Typically 1-2 correspondent banks involved
• Deducted from transfer amount unless sender selects “OUR” (sender pays all) option

Total Cost Calculation: $5,000 USD transfer via Vietnamese bank:

• Outgoing SWIFT fee: $40 USD
• Exchange rate markup (3%): $150 USD
• Correspondent bank fees (2 banks × $25): $50 USD
• Total: $240 USD (4.8% effective rate)

versus Wise:

• Wise fee: $28 USD
• Exchange rate markup: $0 (mid-market rate)
• Total: $28 USD (0.56% effective rate)
• Savings: $212 USD per transfer

Card-Based Transfer Costs

According to VietinBank’s 2026 Visa Direct service guide:

Fee Structure:

• Percentage fee: 0.25-3% of transfer amount (varies by bank and card type)
• Minimum fee: $1 USD
• Maximum per transaction: $5,000 USD

Examples:

• $500 transfer: $1.25-15 USD (0.25-3%)
• $1,000 transfer: $2.50-30 USD (0.25-3%)
• $5,000 transfer: $12.50-150 USD (0.25-3%)

According to Techcombank’s 2026 card services pricing, most Vietnamese banks charge 0.5-1% for Visa Direct transfers, making it cost-effective for amounts $500-2,000 where speed justifies the percentage fee.

Cash Pickup Service Costs

According to Western Union and MoneyGram’s January 2026 pricing:

Western Union:

• $100-500 transfer: $4-15 USD fee + 4-5% exchange markup = $8-40 total
• $1,000 transfer: $15-35 USD fee + 3-4% exchange markup = $45-75 total
• $5,000 transfer: $35-65 USD fee + 2-3% exchange markup = $135-215 total

MoneyGram:

• $100-500 transfer: $5-12 USD fee + 4-5% exchange markup = $9-37 total
• $1,000 transfer: $12-28 USD fee + 3-4% exchange markup = $42-68 total
• $5,000 transfer: $28-55 USD fee + 2-3% exchange markup = $128-205 total

According to MoneyTransfers.com’s 2026 analysis, cash pickup services cost 4-8% total (fees + markup), making them 3-7× more expensive than Wise but valuable when recipient lacks bank access.

Large Transfer Specialists (≥$10,000)

OFX: According to OFX’s 2026 pricing:

• Fee: $0 USD for transfers ≥$10,000
• Exchange rate markup: 1-1.5% below mid-market
• $10,000 transfer cost: $100-150 USD (1-1.5%)
• Delivery time: 1-2 business days

Currency Fair:

• Flat fee: $4 USD + 1-1.5% exchange markup
• $10,000 transfer cost: $104-154 USD (1.04-1.54%)

According to Exiap’s 2026 comparison, OFX is most cost-effective for single large transfers ≥$10,000, while Wise remains cheaper for regular smaller transfers.

Fee Avoidance Strategies

According to financial experts interviewed by BOSS Money (2026):

1. Use Wise Balance Funding (saves $1.70-6 USD per transfer): Transfer money to Wise account first, then send internationally from balance
2. Send Larger Amounts Less Frequently (reduces fixed fees): Monthly $2,000 cheaper than 4× weekly $500
3. Avoid Card Funding (saves 2-3%): Use bank transfer (ACH) even if slower
4. Select “SHA” Cost Sharing on SWIFT (saves $15-50 USD): Don’t select “OUR” unless recipient must receive exact amount
5. Transfer During Weekday Business Hours (avoids delays and resubmission fees): Monday-Friday 9 AM-3 PM
6. Batch Annual Transfers (negotiate volume discounts): Some banks offer reduced rates for 10+ transfers annually

For foreign teachers remitting salary monthly, using Wise with ACH funding from Wise account balance saves approximately $600-800 USD annually compared to traditional bank transfers.

Explore More Content: Complete Guide to International Banks in Vietnam

What Are Vietnam’s Legal Requirements for International Money Transfers?

Vietnam permits international money transfers for seven specific purposes: salary repatriation, family support, education, medical treatment, travel expenses, inheritance, and immigration fees. Transfers ≥$1,000 USD are automatically reported by financial institutions to the State Bank of Vietnam under Circular 27/2025/TT-NHNN (effective November 1, 2025), but this reporting is the bank’s responsibility—not the sender’s. Foreign teachers can remit employment income abroad without restriction, subject to Vietnamese income tax obligations (5-35% progressive rate on salary).

According to the Foreign Exchange Ordinance 2005 and its implementing Decree 70/2014/ND-CP, international transfers from Vietnam must comply with State Bank of Vietnam regulations. Circular 20/2022/TT-NHNN (effective February 15, 2023) defines permissible transfer purposes. The Anti-Money Laundering Law 2022 and Circular 27/2025/TT-NHNN (effective November 1, 2025) establish reporting thresholds. According to Vietnam Briefing’s November 2025 legal analysis, Circular 27/2025 marks the first time domestic transfers ≥500 million VND (≈$19,000) face mandatory reporting, while international transfers must be reported at ≥$1,000 USD.

Outbound Transfer Legal Framework:

Legal Requirement	Threshold / Rule	Legal Basis
Permitted Purposes	7 categories (salary, family, education, medical, travel, inheritance, immigration)	Circular 20/2022 Art. 8
Bank Reporting to SBV	≥$1,000 USD (automatic by institution)	Circular 27/2025 Art. 9
Purpose Documentation	≥$50,000 USD (contract/invoice required)	Circular 20/2022 Art. 12
Tax on Repatriated Salary	Already withheld in Vietnam (5-35% PIT)	Law on Personal Income Tax 2007
Annual Transfer Limits	None (unlimited if legitimate purpose)	Decree 70/2014

Inbound Transfer Legal Framework:

Legal Requirement	Threshold / Rule	Legal Basis
Bank Reporting to SBV	≥$1,000 USD (automatic by institution)	Circular 27/2025 Art. 9
Tax on Gifts	10% tax on amounts >110M VND (~$4,300)	Decree 111/2013 Art. 4
Foreign Currency Holding	Must convert to VND or deposit in forex account within 7 days	Circular 20/2022 Art. 15
Social Insurance Contributions	Vietnamese employer already withholds (10.5% employee share)	Law on Social Insurance 2014

Permitted Transfer Purposes

According to Circular 20/2022/TT-NHNN Article 8, foreign nationals can transfer money from Vietnam for these purposes:

1. Salary Repatriation

• Definition: Transfer of legally earned employment income to home country
• Documentation: Employment contract + monthly salary slip
• Tax Status: Vietnamese income tax (5-35% progressive) already withheld by employer
• Limits: No monthly or annual limit
• Processing: Standard verification, typically approved within 1-2 business days

According to PwC Vietnam’s 2026 Tax Summary, foreign teachers employed in Vietnam pay personal income tax at progressive rates:

• 0-5M VND/month: 5%
• 5-10M VND/month: 10%
• 10-18M VND/month: 15%
• 18-32M VND/month: 20%
• 32-52M VND/month: 25%
• 52-80M VND/month: 30%
• >80M VND/month: 35%

Most employers withhold tax monthly, so salary repatriation transfers are after-tax amounts not subject to additional taxation.

2. Family Support

• Definition: Financial support for spouse, parents, children, or siblings abroad
• Documentation: Family relationship proof (marriage certificate, birth certificate) + recipient ID
• Tax Status: Not subject to Vietnamese taxation (sender already paid income tax on source)
• Limits: No restrictions if sender can prove sufficient remaining income for living expenses in Vietnam

According to Vietcombank’s 2026 foreign exchange manual, “family support” is the second most common transfer purpose after salary repatriation, comprising 25% of outbound transfers by foreign nationals.

3. Education Expenses

• Definition: Tuition, fees, living expenses for sender or dependents studying abroad
• Documentation: University admission letter + fee invoice + student visa (if applicable)
• Tax Status: Not subject to Vietnamese taxation
• Limits: Must match actual tuition/fee amounts on official invoices

4. Medical Treatment

• Definition: Hospital bills, treatment costs, medicine expenses for care abroad
• Documentation: Medical diagnosis + treatment plan + hospital bill/invoice
• Tax Status: Not subject to Vietnamese taxation
• Limits: Must correspond to documented medical expenses

5. Travel Expenses

• Definition: Living expenses during overseas travel (tourism, business trips)
• Documentation: Flight booking + visa (if business trip, invitation letter)
• Tax Status: Not subject to Vietnamese taxation
• Limits: No specific limits, but banks may question amounts >$10,000 for tourism

6. Inheritance

• Definition: Receiving inheritance from overseas estate
• Documentation: Death certificate + will or court inheritance order + estate settlement document
• Tax Status: 10% tax on inheritance >10M VND under Decree 111/2013
• Process: Typically requires legal consultant to navigate Vietnamese inheritance law

7. Immigration/Visa Fees

• Definition: Application fees for permanent residence, citizenship, visa processing abroad
• Documentation: Fee invoice from immigration authority + application confirmation
• Tax Status: Not subject to Vietnamese taxation
• Limits: Must match official government fee amounts

Prohibited Transfer Purposes

According to the Foreign Exchange Ordinance 2005 Article 16, transfers are prohibited for:

• Investment in foreign securities (stocks, bonds) – requires separate approval from State Bank
• Purchase of foreign real estate – requires Certificate of Overseas Investment
• Cryptocurrency purchases – considered illegal capital outflow
• Gambling or illegal activities
• Loan repayments to unregistered foreign lenders

Anti-Money Laundering Reporting Requirements (Circular 27/2025/TT-NHNN)

According to Circular 27/2025/TT-NHNN issued September 15, 2025:

Effective Dates:

• November 1, 2025: Circular takes effect
• December 31, 2025: Transition period ends (banks must complete IT system updates)
• January 1, 2026: Full compliance mandatory (all reporting systems operational)

Reporting Thresholds:

• Domestic transfers: ≥500 million VND (≈$19,000 USD)
• International transfers: ≥$1,000 USD (or equivalent foreign currency)
• Suspicious transactions: Any amount if bank detects unusual patterns

According to Vietnam Briefing’s November 2025 analysis, this is the first time Vietnam has established a formal reporting threshold for large-value domestic transfers, bringing the country in line with FATF (Financial Action Task Force) standards.

Who Reports?

According to Circular 27/2025 Article 9:

• Reporting Entity: Commercial banks and payment intermediaries (not individuals)
• Reporting Method: Electronic submission to SBV Anti-Money Laundering Department
• Reporting Timeframe: Immediately after transaction execution
• Information Included: Sender details, recipient details, amount, currency, purpose, account numbers, SWIFT codes

Sender Responsibilities:

According to Vietnam News’ coverage of Circular 27/2025 (October 2025):

• Senders do NOT file reports themselves
• Senders must provide accurate information to banks for their reporting
• Senders may experience slight processing delays (1-3 hours) for first transfers ≥$1,000 as banks verify information

Tax Obligations on International Transfers

Outbound Transfers (Sending Money from Vietnam):

According to the Law on Personal Income Tax 2007 and Circular 111/2013/TT-BTC:

1. Salary Repatriation: No additional tax (income tax already withheld by Vietnamese employer at 5-35% progressive rate)
2. Investment Income: 5% tax on capital gains, dividends, interest (if transferring investment proceeds)
3. Rental Income: 5% tax on rental income (if transferring rental proceeds from Vietnam property)
4. Freelance Income: 5% tax on freelance/contract income (if not subject to withholding)

For foreign teachers with standard employment contracts, salary repatriation has zero additional tax because employers already withhold personal income tax monthly.

Inbound Transfers (Receiving Money in Vietnam):

According to Decree 111/2013/ND-CP:

1. Personal Gifts: Tax-free up to 110 million VND (≈$4,300 USD) per year; 10% tax on amounts above threshold
2. Family Support: Tax-free (considered gift under threshold)
3. Employment Income from Foreign Employer: 5-35% progressive tax (same as domestic employment)
4. Inheritance: 10% tax on amounts >10M VND (≈$390 USD)

Social Insurance Obligations

According to the Law on Social Insurance 2014 and Decree 143/2018/ND-CP (amended), foreign workers in Vietnam with contracts ≥1 year must participate in:

• Compulsory Social Insurance: 10.5% employee contribution + 17.5% employer contribution = 28% total
• Health Insurance: 1.5% employee + 3% employer = 4.5% total
• Unemployment Insurance: 1% employee + 1% employer = 2% total

According to DFDL Law Firm’s 2026 employment guide, these contributions are automatically deducted from gross salary before net salary transfer, and foreign teachers can claim social insurance benefits upon leaving Vietnam (lump sum payment of contributions + interest).

Enhanced Verification Under Circular 27/2025

According to DFDL’s October 2025 analysis of Circular 27/2025:

New Risk-Based Customer Classification: Banks must classify customers as low, medium, or high money laundering risk based on:

• Transaction frequency and amounts
• Country of origin (FATF blacklist status)
• Profession (high-risk includes cash-intensive businesses)
• Source of funds transparency

High-Risk Customer Requirements:

• Monthly account monitoring (vs. quarterly for low-risk)
• Enhanced documentation for transfers ≥$5,000 (vs. $10,000 for low-risk)
• Beneficial ownership disclosure (if corporate account)

Foreign teachers are typically classified as low-risk due to transparent employment income and regular salary repatriation patterns.

Compliance Best Practices for Foreign Teachers

According to legal experts at Dentons LuatViet (November 2025):

1. Maintain Employment Documentation: Keep copies of employment contract, work permit, and monthly salary slips for 5 years (bank may request for historical verification)
2. Use “Salary Repatriation” Purpose Code: This is the simplest category with fewest compliance requirements for foreign teachers
3. Transfer After Tax Withholding: Wait for employer to withhold income tax before initiating transfer (avoids questions about tax compliance)
4. Keep Transfer Amounts Consistent: Regular monthly transfers of similar amounts raise fewer red flags than irregular large transfers
5. Consolidate Transfers: Monthly transfers cheaper and less scrutiny than multiple smaller weekly transfers
6. Document Unusual Transfers: If sending >$10,000 or to high-risk country, prepare extra documentation (employment contract, tax return) proactively

Penalties for Non-Compliance

According to Decree 88/2019/ND-CP on foreign exchange violations:

• False documentation: 8-12% of transaction amount (minimum 20 million VND, maximum 100 million VND)
• Prohibited purpose: 10-15% of transaction amount + transaction reversed
• Money laundering: Criminal prosecution under Criminal Code 2015 (12-20 years imprisonment + asset seizure)

For foreign teachers following standard salary repatriation procedures with proper documentation, compliance risk is minimal.

How Do I Choose the Best Transfer Method for My Situation?

The optimal transfer method depends on your transfer amount, urgency, frequency, and recipient’s banking access. For regular salary transfers $500-5,000, Wise offers the best value at 0.5-1% total cost with same-day delivery. For urgent transfers $100-1,000, Visa Direct delivers in 30 minutes at 0.25-1% cost. For large one-time transfers ≥$10,000, OFX charges 1-1.5% with zero upfront fees. For recipients without bank accounts, Western Union provides cash pickup in minutes at 4-6% total cost.

Wise ranked #1 overall for cost-effectiveness on transfers $500-10,000, saving users $131.60+ annually versus competitors. Exiap’s 2026 comparison confirms Wise’s 0.5-1% total cost beats traditional banks’ 3-5.3% cost for the same transfers. VietinBank’s 2026 service comparison shows Visa Direct processing 30 minutes versus 1-5 days for SWIFT, justifying the speed premium for urgent needs.

Decision Matrix: Which Method Should I Use?

Your Situation	Best Method	Cost	Speed	Why?
Regular salary transfers ($500-5,000 monthly)	Wise	0.5-1%	<24 hours	Lowest cost, fast, mid-market rate
Urgent small transfer ($100-1,000, needed today)	Visa Direct	0.25-1%	30 minutes	Fastest delivery, reasonable cost
Large one-time transfer (≥$10,000)	OFX	1-1.5%	1-2 days	$0 fee, volume discount rate
First-time transfer (testing service)	Wise	0.5-1%	<24 hours	Transparent pricing, easy setup
Recipient has no bank account	Western Union	4-6%	Minutes	Cash pickup worldwide
Transfer to family in rural area	MoneyGram	4-6%	1-4 hours	Extensive agent network
Business transfer (≥$50,000)	SWIFT Bank	0.5-1%	2-5 days	Established audit trail, tax documentation

Situation 1: Regular Monthly Salary Transfers ($500-5,000)

Recommended: Wise

According to MoneyTransfers.com’s 2026 data, foreign teachers typically transfer $1,500-3,000 monthly in salary repatriation. For this use case:

Cost Analysis (Monthly $2,000 Transfer):

• Wise: $16 USD (0.8%) = $192/year
• Vietnamese bank: $70 USD (3.5%) = $840/year
• Western Union: $95 USD (4.75%) = $1,140/year
• Annual savings using Wise: $648-948 USD

Setup Process (One-Time, 15 Minutes):

1. Create Wise account at wise.com (email verification required)
2. Upload passport scan + proof of address (utility bill <3 months)
3. Add Vietnamese bank account for funding (account number + bank SWIFT code)
4. Add recipient bank account in home country
5. Complete first transfer ($10 minimum) to verify account

Ongoing Process (5 Minutes Per Transfer):

1. Log in to Wise website or mobile app
2. Enter transfer amount in USD
3. Select “Vietnamese bank transfer” as funding method (or use Wise balance if pre-funded)
4. Confirm exchange rate and fees (always shown upfront)
5. Submit transfer

Processing Time:

• From Wise balance: 70% arrive <20 seconds, 95% <24 hours
• From Vietnamese bank: Add 1-2 days for funds to reach Wise first, then instant transfer

Pro Tips from Wise Power Users (MoneyTransfers.com forum 2026):

• Pre-fund Wise account: Transfer 3 months’ salary to Wise balance, then send internationally from balance (saves $1.70 ACH fee per transaction)
• Set up scheduled transfers: Automate monthly transfers on salary payment date
• Use Wise debit card: Spend directly from Wise balance when traveling home (saves ATM fees)

Situation 2: Urgent Transfer Needed Today ($100-1,000)

Recommended: Visa Direct (Card-to-Card)

According to VietinBank’s 2026 Visa Direct guide, this method is optimal when:

• Recipient needs money within hours (family emergency, urgent bill)
• Amount is relatively small ($100-1,000)
• Both parties have Visa or Mastercard debit cards

Cost Analysis ($500 Urgent Transfer):

• Visa Direct: $2.50-5 USD (0.5-1%) + 30-minute delivery
• Wise Express: $7 USD (1.4%) + 1-2 hour delivery
• Western Union Instant: $20 USD (4%) + 15-minute delivery

How to Use:

1. Visit Vietnamese bank branch or use mobile banking app (if card-to-card enabled)
2. Select “International Card Transfer” or “Visa Direct”
3. Enter recipient’s 16-digit card number + name on card
4. Enter amount in USD
5. Confirm fee and exchange rate
6. Complete biometric authentication (fingerprint/face scan)
7. Receive SMS confirmation with transaction ID

Processing Time: 30 minutes average according to VietinBank 2026 data

Limitations:

• $5,000 USD maximum per transaction (Visa Direct limit)
• $10,000 USD daily limit (most Vietnamese banks)
• Recipient must have valid Visa/Mastercard debit card (not credit card)

Situation 3: Large One-Time Transfer (≥$10,000)

Recommended: OFX (Foreign Exchange Specialist)

According to Exiap’s 2026 comparison, OFX is most cost-effective for single large transfers due to $0 upfront fee and volume-discounted exchange rates.

Cost Analysis ($15,000 Transfer):

• OFX: $150-225 USD (1-1.5% exchange markup, $0 fee) + 1-2 day delivery
• Wise: $68 USD (0.45% total) + 1-2 day delivery ✓ Actually cheaper for this amount
• Vietnamese bank: $440-690 USD (2.93-4.6% total) + 3-5 day delivery

Updated Recommendation: Upon analysis, Wise remains cheapest even for large transfers due to lower percentage rate. Use OFX only if:

• Transferring ≥$50,000 (OFX assigns dedicated account manager)
• Need forward contract (lock in exchange rate for future transfer)
• Require regular business transfers (OFX offers corporate accounts)

Setup Process:

1. Create account at ofx.com
2. Complete phone verification + ID upload
3. Complete source of funds questionnaire for large transfers
4. Get personalized exchange rate quote (better rates for larger amounts)

Processing Time: 1-2 business days according to OFX 2026 service guide

Situation 4: Recipient Has No Bank Account

Recommended: Western Union or MoneyGram (Cash Pickup)

According to MoneyTransfers.com’s 2026 data, 18% of recipients in developing countries lack bank access, requiring cash pickup services.

Cost Analysis ($1,000 Transfer):

• Western Union: $25 USD fee + $35 exchange markup = $60 total (6%)
• MoneyGram: $18 USD fee + $32 exchange markup = $50 total (5%)

How to Use:

1. Visit Western Union/MoneyGram agent in Vietnam (locations at westernunion.com/vn or moneygram.com)
2. Bring passport + recipient’s full name and location
3. Fill out send form + specify cash pickup
4. Pay in VND cash (or debit card at some locations)
5. Receive Money Transfer Control Number (MTCN)
6. Send MTCN to recipient via SMS/phone call

Recipient Process:

1. Visit Western Union/MoneyGram agent in their country within 90 days
2. Bring government ID + MTCN
3. Collect cash (in local currency)

Processing Time: Minutes to 4 hours for cash availability

Situation 5: Business/Tax Documentation Required (≥$50,000)

Recommended: Vietnamese Bank SWIFT Transfer

According to law firm Dentons LuatViet (2026), transfers ≥$50,000 often require formal audit trail for tax purposes, making traditional bank transfers preferable despite higher cost.

Advantages of Bank SWIFT for Large Business Transfers:

• Official bank documentation (letter confirming transfer for tax filing)
• Purpose code compliance (banks ensure correct foreign exchange purpose classification)
• Audit trail (monthly bank statement shows transaction for tax inspection)
• Legal protection (bank assumes liability for regulatory compliance)

Cost: While 2-3% total cost is higher than Wise’s 0.45%, the compliance documentation value justifies the premium for business/tax purposes.

Decision Tree: Should I Use Wise, Bank, or Other Method?

START HERE: How much are you sending?

<$500:

• Urgent (need today)? → Visa Direct (30 min, $1-5)
• Not urgent? → Wise (<24 hrs, $6-7)

$500-10,000:

• Sending monthly? → Wise (0.5-1%, <24 hrs)
• Recipient no bank? → MoneyGram (4-6%, 1-4 hrs)
• Urgent? → Visa Direct (30 min, 0.5-1%)

>$10,000:

• First time / testing? → Wise (0.45%, 1-2 days)
• Need tax documentation? → Bank SWIFT (2-3%, 3-5 days)
• Regular business transfers? → OFX (1-1.5%, 1-2 days, dedicated support)

Special Factors:

Recipient in High-Cost Country (UK, EU, Australia):

• Use Wise (mid-market rate crucial)
• Avoid Western Union (exchange markup 5-7% for these corridors)

Recipient in Rural Area:

• Use MoneyGram (350,000 agent locations vs Western Union’s 550,000, but better rural penetration in some countries)

You Travel Frequently:

• Use Wise + get Wise debit card ($9 USD one-time fee)
• Spend in 150+ countries at mid-market rate (0.5-1% conversion fee vs 3-5% credit card markup)
• ATM withdrawals free up to $100/month, then $0.50 USD per withdrawal

Summary: Most Common Recommendation for Foreign Teachers

Based on analysis of thousands of foreign teacher transfers (MoneyTransfers.com 2026 user data):

PRIMARY METHOD (80% of transfers):

• Wise for monthly salary repatriation
• Setup once, use for years
• Total cost: <1% for most transfers
• Speed: same day (if funded from Wise balance)

BACKUP METHOD (20% of transfers):

• Visa Direct for urgent family emergencies
• Keep activated for rare urgent needs
• Cost: 0.5-1% acceptable for speed

AVOID:

• Traditional bank SWIFT (unless business documentation required)
• Western Union/MoneyGram (unless recipient lacks bank access)
• Airport currency exchange (8-15% markup)

What Are Common Issues with International Transfers from Vietnam and How Can I Avoid Them?

The five most common international transfer problems are: unexpected delays (1-3 extra days from incomplete information), hidden exchange rate markups (2-5% loss without notification), incorrect recipient details causing rejections, compliance holds for first-time large transfers, and poor transfer timing (initiating on Friday/holiday weekend). These issues affect 15-25% of international transfers according to industry data, but are 100% preventable through proper preparation.

Top 5 Transfer Problems + Solutions:

Problem	Impact	Frequency	Solution
1. Delayed Processing	+1-3 days delay	35% of transfers	Double-check all information before submitting
2. Hidden Exchange Markups	2-5% cost increase	60% with banks	Use Wise (mid-market rate, 0% markup)
3. Incorrect Recipient Details	Rejection + $30-50 fee	12% of transfers	Verify SWIFT code and account number
4. Compliance Holds	+1-2 days delay	8% of large transfers	Prepare source of funds documentation proactively
5. Weekend/Holiday Timing	+2-3 days delay	20% of transfers	Initiate Monday-Thursday before 2 PM

Vietnamese Public Holidays to Avoid (2026):

Holiday	Date	Transfer Impact
Tet (Lunar New Year)	Jan 28 – Feb 5, 2026 (9 days)	Banks closed – transfers delayed +9 days
Hung Kings’ Festival	Apr 28, 2026	+1 day delay
Reunification Day	Apr 30, 2026	+1 day delay
Labor Day	May 1, 2026	+1 day delay
National Day	Sep 2-3, 2026	+2 days delay

Frequently Asked Questions About International Money Transfers from Vietnam

Can I transfer money from Vietnam to my home country while working here?

Yes, foreign teachers can transfer money from Vietnam internationally for salary repatriation without restrictions. According to the Foreign Exchange Ordinance 2005 and Circular 20/2022/TT-NHNN, transferring employment income earned in Vietnam is a permitted foreign exchange purpose. You’ll need your employment contract, passport with valid work permit visa, and recipient bank details (SWIFT code, account number). Vietnamese income tax is already withheld monthly by your employer (5-35% progressive rate), so transferred amounts are after-tax and not subject to additional taxation. According to VietinBank’s 2026 compliance guide, most foreign teachers successfully transfer $1,500-3,000 monthly as salary repatriation with processing times of 1-2 business days for SWIFT transfers or under 24 hours via Wise.

How long does it take to transfer money from the US to Vietnam?

Transfers from the US to Vietnam take 30 minutes to 5 business days depending on method. According to Wise’s January 2026 speed data, Wise transfers arrive in under 20 seconds for 70% of transactions and within 24 hours for 95%, making it the fastest option. Visa Direct card-to-card transfers process in 30 minutes according to VietinBank’s 2026 service guide. Traditional bank SWIFT transfers take 3-5 business days due to routing through multiple correspondent banks, according to Bank of America’s 2026 wire transfer documentation. Western Union cash pickup is available within minutes to 4 hours for recipient collection. According to MoneyTransfers.com’s 2026 analysis, transfer timing also depends on funding method: transfers funded from account balance (Wise balance, debit card) are fastest, while ACH bank transfers add 1-2 days for funds to reach the transfer provider first.

What’s the cheapest way to send money from Vietnam internationally?

Wise is the cheapest method for most transfers, costing $6.45-8.88 USD for $1,000 (0.65-0.89%), compared to $25-65 USD for traditional bank SWIFT transfers (2.5-6.5%). According to Exiap’s November 2025 comparison of 12 transfer services, Wise offers the lowest total cost by using the mid-market exchange rate with 0% markup and charging only a small transparent fee. For transfers ≥$10,000, both Wise (0.45-0.53%) and OFX (1-1.5% with $0 upfront fee) are cost-competitive. According to MoneyTransfers.com’s 2026 user data analysis, foreign teachers save an average of $648 USD annually by using Wise versus traditional banks for monthly $2,000 salary transfers. Cost breakdown for $5,000 transfer: Wise $28-32 (0.56-0.64%) versus Vietnamese bank $150-265 (3-5.3%) versus Western Union $170-210 (3.4-4.2%).

Do I need to pay tax on money I transfer from Vietnam to my home country?

No additional Vietnamese tax is due on salary repatriation transfers because income tax is already withheld by your Vietnamese employer at 5-35% progressive rates according to the Law on Personal Income Tax 2007. According to PwC Vietnam’s 2026 Tax Summary, employment income is subject to personal income tax monthly withholding, so the net salary you transfer is after-tax. Your home country may have tax obligations depending on their tax residency rules – US citizens must still file US tax returns on worldwide income but can claim Foreign Earned Income Exclusion (up to $126,500 in 2026) according to IRS Publication 54, while most other countries use territorial tax systems (only tax domestic income). According to Circular 20/2022/TT-NHNN, transfer purpose documentation should state “Salary repatriation from employment in Vietnam” which clearly indicates the funds are post-tax employment income. Consult a tax advisor in your home country regarding specific filing requirements.

Which Vietnamese banks are best for international transfers?

Digital platforms like Wise are superior to all Vietnamese banks for cost and speed, according to MoneyTransfers.com’s 2026 analysis. Among Vietnamese banks, Vietcombank (SWIFT: BFTVVNVX) and Techcombank (SWIFT: VTCBVNVX) are the most reliable for SWIFT transfers according to Exiap’s 2026 banking comparison. Vietcombank offers the most branch locations nationwide (554 branches per 2026 annual report) and $200 USD maximum fee cap on SWIFT transfers. Techcombank provides the best mobile banking app rated 4.8/5 stars on Google Play (January 2026) with integrated Visa Direct for fast card-to-card transfers. VietinBank (SWIFT: ICBVVNVX) was first to launch Visa Direct in Vietnam (December 2023). However, all Vietnamese banks charge $25-65 USD SWIFT fees + 2-4% exchange markup, totaling 3-5.3% cost versus Wise’s 0.5-1% cost, making digital platforms 3-6× cheaper for the same transfer according to cost analysis by BOSS Money (2026).

International money transfers from Vietnam range from $6.45 (Wise) to $80+ (traditional banks) with processing times of 30 minutes (Visa Direct) to 5 days (SWIFT). Wise offers the best value for 90% of foreign teachers, charging 0.5-1% total cost with same-day delivery for regular salary transfers $500-10,000. New 2026 regulations under Circular 27/2025/TT-NHNN require banks to report transfers ≥$1,000 USD automatically—not your responsibility as sender. Success requires correct recipient details (SWIFT code, exact account name), complete documentation (passport, proof of address, source of funds for ≥$10,000), and strategic timing (Monday-Thursday 9 AM-2 PM to avoid delays).

Key action steps: Set up Wise account today (15 minutes), verify recipient bank details with them directly, transfer small test amount first ($50-100) to confirm setup, then proceed with regular monthly transfers to save $600-900 annually versus banks.

Need more guidance on living in Vietnam? Explore our Daily Living Essentials category for comprehensive guides on banking, accommodation, transportation, and everyday life as a foreign teacher in Vietnam.