Send Money from Singapore to Vietnam

Key takeaway

The best way to send money from Singapore to Vietnam depends on your recipient's access: bank deposit is cheapest for large amounts, cash pickup is fastest for rural areas, and e-wallet transfers are convenient for tech-savvy users. Always compare total cost (fee + FX markup) and confirm rates at checkout.

Understanding the Total Cost of Your Transfer

When sending money from Singapore to Vietnam, the total cost is more than just the transfer fee. You must also consider the foreign exchange (FX) markup, which is the difference between the mid-market rate and the rate offered by the provider. A provider may advertise a low or zero fee but compensate with a poor exchange rate.

The formula for total cost is: Transfer Fee + (Amount × FX Markup). For example, sending SGD 1,000 with a 0.5% FX markup and a $5 fee results in a total cost of $10 (0.5% × 1,000 = $5, plus $5 fee). Always check both components before confirming.

• Transfer fee: flat or percentage-based, often waived for first transfers or larger amounts.
• FX markup: typically 0.5% to 3% above the mid-market rate; compare rates on comparison sites.
• Other charges: intermediary bank fees, recipient bank fees, or cash pickup service charges.

Comparing Payout Methods: Bank Deposit, Cash Pickup, and E-Wallet

The payout method you choose affects speed, cost, and convenience. Bank deposit is ideal for recipients with a Vietnamese bank account; it's usually the cheapest and takes 1–3 business days. Cash pickup works well for those without a bank account, especially in rural areas, but may incur higher fees and faster delivery (minutes to hours). E-wallet transfers (e.g., Momo, ZaloPay) are growing in popularity for instant, low-cost transfers to mobile wallets.

Each method has different transfer limits. Bank deposits often have higher limits (up to SGD 10,000 or more), while cash pickup and e-wallet limits are lower (e.g., SGD 1,000–5,000). Confirm limits with your provider before initiating a transfer.

• Bank deposit: low cost, 1–3 days, requires recipient's bank details.
• Cash pickup: fast (minutes), higher fees, requires recipient's ID and pickup location.
• E-wallet: instant, low fees, recipient needs a registered mobile wallet.

Recipient Details and Compliance Checks

To send money from Singapore to Vietnam, you'll need your recipient's full name (as per ID), bank account number or e-wallet ID, and sometimes their address or phone number. For cash pickup, the recipient's name must match their identification exactly.

Providers are required to perform compliance checks to prevent money laundering. You may need to provide your own identification (passport or NRIC) and proof of address. Transfers above certain thresholds (e.g., SGD 5,000) may trigger additional documentation. These checks typically take a few minutes but can delay the transfer if information is incomplete.

• Recipient info: full name, bank account/wallet ID, phone number.
• Your info: ID, proof of address, source of funds for large transfers.
• Compliance: standard checks; ensure all details match exactly.

Speed, Transfer Limits, and When to Use SEARateGuide

Transfer speed varies by method and provider. Cash pickup and e-wallet transfers can be almost instant, while bank deposits take 1–3 business days. Some providers offer express options for a fee. Transfer limits range from SGD 500 to SGD 20,000 per transaction, depending on the provider and your verification level.

Use SEARateGuide to compare routes from Singapore to Vietnam. Our tool shows the total cost (fee + FX markup) for each provider and payout method, helping you choose the best option for your specific amount and recipient needs. Always verify rates and fees at checkout, as they can change.

Compare transfer options

Disclaimer

SEARateGuide is an information-only comparison tool and does not process money transfers. Fees, exchange rates, limits, delivery estimates, and payout availability can change. Confirm the final quote on the provider's official checkout page before sending.