Best way to transfer money oversea from Vietnam ?

Jul 01, 2019 4285 Views

How to transfer money oversea from Vietnam ?

There are more and more foreigners are living and working in Vietnam. Many of them need to transfer their income back to their homeland. Then what are the best way to transfer money oversea from Vietnam ?

In general, there are 2 popular ways of sending money out of Vietnam:

One by the 3rd party underground, and it is a illigal way so you have to take risk from both the polices and the 3rd party which makes your transfer. The good is it is easy as its risk, you dont need any papers but your money, and sometimes it´s very cheap. Any way, I do not recommend you to take this risk unless you know the third party so well.
The 2nd way is, of course legal way, always related to the bank no matter what method you take to transfer: Bank to bank, or via Moneygram, or via Westernunion, or transfer to you Paypal account. The price is various depends upon the amount, the destination, the currency and the method you choose, but not much and you will be consultanted by the bank officer to meet your require about time and cost. It will be very easy and quick, so dont worry. Only one thing you need to worry is showing evidence to prove that amount of money is legal and belongs to you, so you have the right to put it in your account or directly transfer to any country you want to.

If money stays in your account already, that´s legal incomes and you have your right to decide what to do with that money.

In case you bring cash in, please show documents related, such as if they come from your salary, so we need your work permit paper, labour contract, payroll slips, your passport; if they come from your business, you need your passport, work permit paper, business lisence, financial reports and tax reports; If you bring them from your country, show the custom papers; and so on. In any cases, just prove your right about those money.

There are some differences if the sender is Vietnamese. Vietnamese just need to show up the legal purpose using money outside of Vietnam in many cases such as tuition fees, living cost for students or nuclear family members support, hospital expenses. But if Vietnamese received a big amount of money from hesitate or as a gift, they must be present more papers and variety from every cases abide by the law. In that case, you should contact with the bank then they will give you advice to complete paper documents.

Banks recomended for transfer money oversea from Vietnam are: Vietcombank, HSBC.