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Popular Ways to Transfer Money from Abroad to Vietnam

Are you looking to transfer money from abroad to Vietnam? In this article, I will introduce you to some popular methods for receiving money from overseas.

1. Transfer and Receive Money from Abroad to Vietnam through Western Union

Many people are interested in transferring money from abroad to Vietnam because they want to support their families or invest in businesses. Is there a simple and cost-effective way to solve this problem?

The most popular method for receiving remittances in Vietnam is through international credit organizations and banks. The most well-known credit organization is Western Union (WU), which provides money transfer services in all Vietnamese banks.

To receive money through Western Union, you need to make sure that the sender has completed the money transfer procedures and received a successful transaction confirmation. In the confirmation invoice, you need to provide all the necessary information from the sender. However, you should never disclose any personal information of the sender, especially the Money Transfer Control Number (MTCN).

Here are the steps to receive money through Western Union:

  • Step 1: Go to the nearest Western Union branch, fill in the required information on the bank’s form.
  • Step 2: Sign the form and provide a photocopy of your identification card to the bank staff for record-keeping.
  • Step 3: Receive the money.
  • Repeat the same process when transferring money abroad.
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2. Using the SWIFT System to Transfer and Receive Money from Abroad to Vietnam

SWIFT is an association in which member banks and financial organizations participate. The SWIFT system helps banks circulate money and exchange information conveniently, allowing for quick and secure money transfers from abroad to Vietnam.

The steps for a transaction via the SWIFT system: Transfer money through the bank’s remittance service.

  • Step 1: Provide all the required information requested by the bank.
  • Step 2: Fill in the transfer form.
  • Step 3: After you have made the payment and transfer fees to the bank.

Note:

  • For cash withdrawal: Provide complete personal identification documents and a cash withdrawal slip (optional).
  • For withdrawal to the customer’s account: The withdrawn amount will be directly transferred to your account.

Repeat the same process when transferring money abroad.

3. Quick Transactions with Moneygram

Moneygram is the second-largest global money transfer service provider, trusted and chosen by many people. Moneygram can perform both domestic and international money transfers, payment of utility bills, and mobile top-up services, allowing users to make payments in various forms such as cash, credit cards, and debit cards.

Advantages of using the Moneygram system when transferring money from abroad:

  • Money can be sent to over 200 countries and territories within a very short period, usually within minutes.
  • Money can be received in a bank account or mobile wallet, depending on your preference.
  • Many attractive programs offered by providers during peak hours.

Information required for Moneygram transactions:

  • Information for money transfer:

    • ID provided by the sender, such as ID card, driver’s license, for identity verification.
    • Full name of the recipient.
    • Location of the recipient.
    • Recipient’s bank name and account number.
  • Information for receiving money:

    • Choose an ID for identity verification.
    • Reference number linked to the money transfer process.
    • Confirmation form to confirm that the recipient has completed the procedure.
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4. Quick Transfer and Receipt through UNITELLER

Uniteller is a global money transfer company headquartered in the United States, with a network that spans over 80 countries and 200,000 transaction points. Vietnamese citizens can receive and transfer money through their accounts or directly at transaction points.

Steps to transfer money through Uniteller:

  • Step 1: The sender goes to a Uniteller transaction point or agent.
  • Step 2: Complete the necessary procedures with the agent.
  • Step 3: Provide recipient information to proceed with the transaction (account number, recipient’s bank name, etc.).

Methods of receiving money:

  • Go to the Uniteller transaction point near your location.
  • Withdraw money at an ATM or directly at the transaction counter. If you choose to receive money at the counter, fill in the required information to complete the procedure.

5. Convenient Online Money Transfer with Paypal

Paypal has become increasingly popular in Vietnam. It is easy to use, convenient, and saves a lot of time compared to traditional methods of transferring money from abroad to Vietnam.

Paypal is a global electronic wallet that allows customers to transfer foreign currencies from one country to another, including Vietnam. To use Paypal, you need to have a Paypal account.

You can transfer money using the following steps:

  • Step 1: Log in to your Paypal account and select “Send Money” from the menu.
  • Step 2: Enter the recipient’s email, the amount, and the foreign currency for the transaction.
  • Step 3: Confirm the payment.

The recipient can receive the money within 2 to 4 days.

This article has provided a comprehensive overview of various methods for transferring money from abroad to Vietnam and vice versa. Hopefully, it will help you understand the process of transferring and receiving money from your loved ones living in another country.

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6. Convenient Money Transfer Abroad with Mobile Banking MyVIB 2.0

Are you looking for an international money transfer app that saves you time waiting at the counter? Discover the power of MyVIB 2.0 – a breakthrough mobile banking app that brings the most convenient international money transfer feature of VIB International Commercial Joint Stock Bank.

With just a smartphone and a few simple steps, you can transfer money from the comfort of your home without the hassle of moving around or waiting in line at the counter. MyVIB 2.0 supports various purposes of money transfer, from tuition fees and living expenses for studying abroad to medical bills. All the necessary documents are provided clearly, helping you prepare for each transaction. With high transfer limits and transparent exchange rates, your transactions are flexible and reliable.

With support for over 200 countries and 11 foreign currencies, MyVIB 2.0 brings convenience and peace of mind to international money transfers. Simple operations, updates at any time, anywhere. With MyVIB 2.0, you will be constantly updated on the progress of your money transfer. Experience the smart international money transfer feature on MyVIB 2.0 and enjoy the convenience and trust that VIB brings to you.

Transferring money from abroad to Vietnam is now simple and quick with these 5 methods. The recipients can receive money with minimal fees, without having to travel far or wait for a long time. While there are many remittance services available, it is essential to be cautious of illegitimate services. To manage your finances effectively, you can use the MyVIB 2.0 mobile banking app, a popular and trusted money transfer system that offers many benefits and discounts for shopping. In particular, with the international money transfer feature, you can send money to your loved ones abroad directly on the MyVIB 2.0 app without waiting in line at the counter. Download MyVIB 2.0 to enjoy many benefits today.

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