Send Money from Canada to Vietnam — Best CAD/VND Rates

Your recipient in Vietnam can receive VND in several ways. The fastest method depends on whether they have a bank account, a mobile wallet, or need cash:

• Bank Account Deposit — Direct credit to Vietcombank, BIDV, Vietinbank, Techcombank, MBBank and 30+ other banks. Same business day for major banks.
• Mobile / MoMo / ZaloPay — MoMo dominates Vietnam's e-wallet market with 30+ million users. Some MTOs support direct MoMo delivery.
• Cash Pickup — Western Union, MoneyGram and Sacombank Money Transfer have agent networks across all 63 provinces.

Confirm the delivery method with your recipient before you send. Most providers let you choose the method during checkout, but the fee and speed can vary — bank transfers are typically cheapest, cash pickup is typically fastest.

There is no single 'best' provider — the right choice depends on whether you prioritise the recipient amount, the fee, the speed, or the institution type.

• If you want the most for your money: Instarem delivered the highest recipient amount in our most recent live snapshot.
• If you want zero fees: Instarem charges no upfront fee — just check the exchange rate margin in the table to see what you actually receive.
• If you need the money to arrive in minutes: Remitly typically clears in minutes.
• If you'd rather use a bank: BMO is one of the licensed bank options in this corridor — slower (typically 1–3 days) and usually more expensive than money-transfer operators, but some senders prefer the familiarity.

Recommendations refresh with the live data above. The provider that wins today may not win tomorrow — always check the live table immediately before sending.

Sending money out of Canada is generally not taxed for the sender, but there are reporting and compliance rules worth knowing — especially for larger amounts. The most relevant rules:

• FINTRAC — All Canadian money services businesses must register with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) and report suspicious transactions.

For a complete view of the rules that apply to senders in Canada, see our Canada guide. For your specific situation, consult a tax professional.

Vietnam's rules around inbound foreign currency are usually permissive for personal remittance, but it's worth knowing the framework:

• State Bank of Vietnam oversight — All inbound remittances are regulated by the State Bank of Vietnam (SBV). Recipients can choose to keep funds in VND, USD or another foreign currency in dual-currency accounts.
• Free for personal remittance — Personal remittances received by Vietnamese residents are exempt from personal income tax. Business-related transfers must follow separate foreign-direct-investment reporting.
• USD account flexibility — Vietnamese residents can hold USD accounts and receive remittances in USD without forced conversion. This is unusual among emerging-market currencies and useful for senders who don't want exchange-rate exposure.

In the CAD to VND corridor right now, 6 providers are competing for your transfer — and the gap between the best and worst deal is ₫10,03,200 on a CA$1,000 send. Instarem delivers ₫1,84,39,040 while OFX delivers only ₫1,74,35,840. That difference comes almost entirely from rate margin, not the headline fee.

The mid-market rate — the one banks use among themselves — is currently 1 CAD = 18592.00 VND. At that rate, CA$1,000 would convert to exactly ₫1,85,92,000. Instarem's rate of 18439.04 means a margin of roughly 0.82%, while OFX's rate of 17701.36 embeds a 4.79% margin. Even small-sounding percentages add up: on a CA$5,000 transfer, that worst-case margin costs you ₫50,16,000 compared to the best option.

Instarem, BMO all advertise zero upfront fees on this corridor — but "no fee" does not mean "no cost". Each of those providers builds a margin into the exchange rate they offer. Compare their recipient amounts in the table above: the differences prove that zero-fee offers vary widely in actual value.