Sending money from Europe to Vietnam: what you need to know
Vietnam is one of the world's largest remittance recipients — annual inflows are 14.0 billion (2023). While we don't have a dedicated guide for Europe senders yet, the providers above are licensed for outbound transfers from Europe to Vietnam.
How recipients in Vietnam receive funds
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.
Which EUR → VND provider is best for you?
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: Wise typically clears in within hours.
Recommendations refresh with the live data above. The provider that wins today may not win tomorrow — always check the live table immediately before sending.
Receiving foreign currency in Vietnam
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.
The hidden cost: rate margin vs upfront fee
In the EUR to VND corridor right now, 8 providers are competing for your transfer — and the gap between the best and worst deal is ₫14,54,898 on a €1,000 send. Instarem delivers ₫2,87,46,177 while OFX delivers only ₫2,72,91,279. 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 EUR = 28898.40 VND. At that rate, €1,000 would convert to exactly ₫2,88,98,400. Instarem's rate of 28746.18 means a margin of roughly 0.53%, while OFX's rate of 27566.95 embeds a 4.61% margin. Even small-sounding percentages add up: on a €5,000 transfer, that worst-case margin costs you ₫72,74,490 compared to the best option.
Instarem, Skrill 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.