About USD and VND
According to the most recent updates by the World Bank, Vietnam ranks ninth among the largest remittance beneficiaries of the US in 2019. Nearly 16.7 billion U.S. dollars have been sent from US to Vietnam and the inflow is expected to project upwards in 2020. This leaves us with one fact, there is a need to send money to Vietnam.
The up to date comparisons below should help you land your money transfer service quickly without having to spend much time on research.
Best way to send money from the US to Vietnam
You may want to consider the following options when considering the best way for sending money from US to Vietnam:
You can wire cash directly to the bank of Vietnam from the US easily at a faster rate and a more competitive exchange rate. A certain amount of transfer fees is charged, usually a percentage of the total amount you wish to send.
Money Transfer Companies:
Based on our real-time comparison, the best transfer service to use when transferring money from US to Vietnam is Instarem as we have discovered that it offers the best exchange rates. Other money transfer agents such as XE Money, WorldRemit, Pangea and Remitly are also a go-to if you are looking for different transfer limits and speeds. More of these companies and their information can be found here at Exchange Rate IQ.
In-store service providers:
We also have service providers like Travelex and Western Union that despite charging higher fees, offer competitive exchange rates and extremely fast transfer speeds. Your money can reach Vietnam from US in just a matter of minutes.
You can use PayPal services to send money across more than 185 borders in the world today including Vietnam at cheap and affordable fees.
This is an easy way if you want to bypass tedious processes like your recipient picking up the money from certain locations and so on.
4 important things to consider when sending money from US to Argentina.
After knowing how you can transfer money to Vietnam from the US, you need to know how to choose the best option from the many available ones that we have already told you about. Some of the factors you have to consider are:
- Exchange Rates:
ERIQ calculates the different rates offered by various companies as they vary depending on the type of business structure they have adopted, the place of transfer, the type of transfer, whether business or personal and the country you are sending to, in this case, Vietnam.
This depends on your level of urgency and the amount of fees you are willing to give up in order to ensure that your transfer takes a much shorter time.
The ease of use of the money transfer company you are using will go a long way in helping you make a decision on which transfer option to use and which one not to. The simple to use a transfer option is, the more likely a sender will choose it.
- Minimum fees:
What are the minimum fees that I can send with the transfer options I am analyzing? Some providers have fees as low as $100 while some have high minimum transfer fees of up to $5000.