Best way to bring money into Vietnam for Australians

Hello, I'm looking for the best way to bring money into Vietnam from Australia. I've considered many options all with pros, cons and fees.
1 Taking AUD cash then converting it
2 Converting AUD to US.
3 Setting up a VN bank account then wiring it over.
4 Just getting money from the ATM in VN
I can see pros and cons with all off them just needing help from people who have done it before.

Where abouts were u in Brisbane?
Get family to go to Inala, afew of the Asian grocery stores will send it, low fees and u will receive the same day if they do it early.

If your family can't do it. You can set up an account via email (scan ur Aus license). Then transfer into their account then email them notifying them of the deposite along with the recipients details. I have been doing it this way the past year as I'm in central QLD working.
Google 'Hai Ha money transfers' and email them

U can also choose to receive in aud or dongs.

^^ agreed with CTH, but no need to convert from AUD to USD, that's just bonkers :D

Thanks. I was going to get some US as our dollar is all over the place exchange wise. So do you just wire it over then bank it or keep it? Can you get a bank deposit box or is that over kill. I may over think things but I like to work on the what if side.

BIGJED1975 :

So do you just wire it over then bank it or keep it?

Up to you, I never banked it as I needed the money to spend. Sometimes I get the recipient to receive in dongs as their rates were better then in Vn and its less hassle for the recipient.
In my case, it worked out cheaper then the atm fees, plus the bank fees that were charged (along with the low ass exchange rate).

Thanks. Will look into that.

Hi Jed,what were your thoughts on ATM I know it's around 30 000 vnd /trams is that so bad? I'm looking to move to Hoi an to live, did u find a cheaper opt  can you let me know cheers mark

BIGJED1975 :

Thanks. Will look into that.

Hi 'BIGJED1975', :)

we use the ANZ Bank, mainly because back in Oz all money goes directly into my accounts and they are totally 'fee free' in Australia.
In VN, it seems the ANZ Bank is a franchised operation.  Cash out via the ATM & NO over the counter transactions. :(
With EVERY ATM withdrawal they get at you just a little bit.

Example - a couple of days ago my 'BETTER HALF' withdrew 10,000,000 VND from our local ANZ Branch ATM for a bit of shopping.
Checking up on-line today, that shows up on our account as AUS$500.75 which including an 'Overseas Transaction Fee' of AUS$14.58
On top of that there's the extra ATM fee of AUS$5.00 for each and every time we use the ATM regardless of the amount of the withdrawal.

Using the same ANZ Debit card for a purchase value of 4,460,000 VND from one of shops in Crescent Mall (D7) Sai Gon, showed up on our account as AUS$220.22
Again including an 'Overseas Transaction Fee' of AUS$6.41

When transferring money from the ANZ Bank in Australia to a VN bank account there is a banking fee of AUS$32 each time and it takes several days to be cleared for withdrawal in VN.

As 'cth' said, sending money from Oz to Vn the least expensive way is via any one of your local Asian (Vietnamese) shops in your VN community shopping areas that handles that sort of business. It's cheap, fast and legal. :D 

Fun isn't it ? :rolleyes:

A long long time ago,I had a gf who's Daddy was investing over in the US.He came back with 100 grand usd in his new western cowboy boots.
Of course that's not sound advice these days and it is against the law to not declare money over the allowable limit.

ATM will cost to much if you are living their for more then a year . This is a good website I found http://www.sendmoneyasia.org/. Going to talk to money transfer place next week so I will update you then.

BIGJED1975 :

ATM will cost to much if you are living their for more then a year . This is a good website I found http://www.sendmoneyasia.org/. Going to talk to money transfer place next week so I will update you then.

Anybody can open a Bank account in VN, I transfer money online from my Bank, Westpac,( using Swift codes, available on the net ), Westpac charges a 1 off fee of $20, ( only problem I've had was sending more than $10,000, my daily withdraw limit was $10,000 ), my money arrives here in $A, ( or whatever currency you want, usually 2 days ),then the wife rings around and for the best exchange rate.

I went to my ANZ branch to talk about that kind of thing and they really weren't any help at all. So you transfer your money from Australia in AUD to a nam bank account and you can get that money out in AUD from the VD bank? Then change it to dong?. And it only costs you $20 all up? And what are swift codes?

BIGJED1975 :

I went to my ANZ branch to talk about that kind of thing and they really weren't any help at all. So you transfer your money from Australia in AUD to a nam bank account and you can get that money out in AUD from the VD bank? Then change it to dong?. And it only costs you $20 all up? And what are swift codes?

That's strange , because they have ANZ in VN.
   If you think the exchange rate at the VN Bank where you have your account is enough, you can change it there of course. ( Most VN Banks have a website, ( also in English ),  with the rates ),   when you go to online Banking, there will be a tab , International/overseas, as you go through the steps, it will ask you for the Bank Account, then Bank Swift Code, this is a world wide Bank ID , i.e, VCB in Quang Ngai is 027 , ( Branch ID ), Swift Code is BFTVVNVX027, they will probably want a Mobile Phone number, ( I was using my Optus, but now have a VN number ), Westpac sends me an SMS with a code, which I then put at the end of the transaction, only takes a few minutes the first time, later you can copy the details online.
  If you want to know Bank Swift codes, just Google,  swift code, with the name of the Bank.
  I
've only had 1 problem, I didn't put the Bank ID, i.e, VCB QN, ( 027 ), 3 times, I'm sure I only used to do it 2 times, but it was all sorted in a week.

bluenz :

...only problem I've had was sending more than $10,000,...

Hope it was a repeated problem....many many times over.  That would be a great problem to have.

Be aware that it is much easier to get money into VN, than to TRY to take it out again.

bluenz :
BIGJED1975 :

I went to my ANZ branch to talk about that kind of thing and they really weren't any help at all. So you transfer your money from Australia in AUD to a nam bank account and you can get that money out in AUD from the VD bank? Then change it to dong?. And it only costs you $20 all up? And what are swift codes?

That's strange , because they have ANZ in VN.
   If you think the exchange rate at the VN Bank where you have your account is enough, you can change it there of course. ( Most VN Banks have a website, ( also in English ),  with the rates ),   when you go to online Banking, there will be a tab , International/overseas, as you go through the steps, it will ask you for the Bank Account, then Bank Swift Code, this is a world wide Bank ID , i.e, VCB in Quang Ngai is 027 , ( Branch ID ), Swift Code is BFTVVNVX027, they will probably want a Mobile Phone number, ( I was using my Optus, but now have a VN number ), Westpac sends me an SMS with a code, which I then put at the end of the transaction, only takes a few minutes the first time, later you can copy the details online.
  If you want to know Bank Swift codes, just Google,  swift code, with the name of the Bank.
  I
've only had 1 problem, I didn't put the Bank ID, i.e, VCB QN, ( 027 ), 3 times, I'm sure I only used to do it 2 times, but it was all sorted in a week.

Also don't get caught out like I did, I cashed up my Mastercard with MY money,  ( it became a true Credit card, actually IN credit ), only to find out later, that every time I withdrew MY cash out, it was taken as a cash advance, so attracted the higher fees.

Thought of trying to have my ComSuper fortnightly payments paid directly into my 'BETTER HALF's bank account in VN. :cool:

Only thing we're not completely sure of is how much percentage the VN government will slug us for each fortnightly incoming payment IF this does prove possible to arrange from Australia.

As far as my getting an answer from Australia goes, after several phone calls and emails - still waiting for a response.
My inquiry and request keeps getting re-directed to "someone who has the authority to make such a discussion."

Dealing with a Australian government back room bureaucrats so it seems to be another case of 'Hurry up and wait.' :(
Or maybe I've upset some little pen pusher in a back room somewhere there - quite possible, indeed highly probable ! ;) :lol: :lol:

Flip465 :

Thought of trying to have my ComSuper fortnightly payments paid directly into my 'BETTER HALF's bank account in VN. :cool:

Only thing we're not completely sure of is how much percentage the VN government will slug us for each fortnightly incoming payment IF this does prove possible to arrange from Australia.

As far as my getting an answer from Australia goes, after several phone calls and emails - still waiting for a response.
My inquiry and request keeps getting re-directed to "someone who has the authority to make such a discussion."

Dealing with a Australian government back room bureaucrats so it seems to be another case of 'Hurry up and wait.' :(
Or maybe I've upset some little pen pusher in a back room somewhere there - quite possible, indeed highly probable ! ;) :lol: :lol:

Try Westpac, $20 per transaction, ( send in $A, then look around for the best ex rate ), The VN Govt has never asked me how or why about the money, 1 time I transferred $A25,000, no problems.

bluenz :
Flip465 :

Thought of trying to have my ComSuper fortnightly payments paid directly into my 'BETTER HALF's bank account in VN. :cool:

Only thing we're not completely sure of is how much percentage the VN government will slug us for each fortnightly incoming payment IF this does prove possible to arrange from Australia.

As far as my getting an answer from Australia goes, after several phone calls and emails - still waiting for a response.
My inquiry and request keeps getting re-directed to "someone who has the authority to make such a discussion."

Dealing with a Australian government back room bureaucrats so it seems to be another case of 'Hurry up and wait.' :(
Or maybe I've upset some little pen pusher in a back room somewhere there - quite possible, indeed highly probable ! ;) :lol: :lol:

Try Westpac, $20 per transaction, ( send in $A, then look around for the best ex rate ), The VN Govt has never asked me how or why about the money, 1 time I transferred $A25,000, no problems.

Really just trying to get some sort of arrangement where the payments go directly from ComSuper in Australia into my 'BETTER HALF's bank account in VN without involving an Australian bank.

So far, my inquiries in Australia seem to have gone into the 'Too Hard' basket. :(

Flip465 :
bluenz :
Flip465 :

Thought of trying to have my ComSuper fortnightly payments paid directly into my 'BETTER HALF's bank account in VN. :cool:

Only thing we're not completely sure of is how much percentage the VN government will slug us for each fortnightly incoming payment IF this does prove possible to arrange from Australia.

As far as my getting an answer from Australia goes, after several phone calls and emails - still waiting for a response.
My inquiry and request keeps getting re-directed to "someone who has the authority to make such a discussion."

Dealing with a Australian government back room bureaucrats so it seems to be another case of 'Hurry up and wait.' :(
Or maybe I've upset some little pen pusher in a back room somewhere there - quite possible, indeed highly probable ! ;) :lol: :lol:

Try Westpac, $20 per transaction, ( send in $A, then look around for the best ex rate ), The VN Govt has never asked me how or why about the money, 1 time I transferred $A25,000, no problems.

Really just trying to get some sort of arrangement where the payments go directly from ComSuper in Australia into my 'BETTER HALF's bank account in VN without involving an Australian bank.

So far, my inquiries seem to have go into the 'Too Hard' basket. :(

Of course the Banks want to get there greedy mitts onto everything these days.  I have a French friend here who gets a pension from France, but I don't understand him, he's a real tight ar***, oops, I mean he's very frugal, but he gets it sent by Western Express????

Hey bluenz what bank are you with in VN. I will chat with anz again and Westpac as well. Thanks.

BIGJED1975 :

Hey bluenz what bank are you with in VN. I will chat with anz again and Westpac as well. Thanks.

I'm with BIDV, VCB, and VIETIN?, the wife also goes around getting the best interest rates, ( last month still got 10% at V Bank , when others are paying 6 - 7 % for 13 months ).
  But for International have always used VCB, for some reason.  ( it has an English website with exchange rates and VN interest rates )

mark stutley :

Hi Jed,what were your thoughts on ATM I know it's around 30 000 vnd /trams is that so bad? I'm looking to move to Hoi an to live, did u find a cheaper opt  can you let me know cheers mark

Hi Mark,
The atm fee isn't do bad but your bank will charge you for an international transction. That can add up if you were to withdraw a  large amount where the atm has a 2 mil limit.

If you don't mind just paying the atm fee, have a look at the 28 degrees MasterCard, no international transaction fees, no exchage fees and no anual fees.

*Edit - just checked out their site. There's been/will be changes in regards to the fees so check out the site.

cth :
mark stutley :

Hi Jed,what were your thoughts on ATM I know it's around 30 000 vnd /trams is that so bad? I'm looking to move to Hoi an to live, did u find a cheaper opt  can you let me know cheers mark

Hi Mark,
The atm fee isn't do bad but your bank will charge you for an international transction. That can add up if you were to withdraw a  large amount where the atm has a 2 mil limit.

If you don't mind just paying the atm fee, have a look at the 28 degrees MasterCard, no international transaction fees, no exchage fees and no anual fees.

*Edit - just checked out their site. There's been/will be changes in regards to the fees so check out the site.

Wow, how can they do it for free, there must be some sort of hidden catch???? Or they must get a good whack out of that ATM fee?

bluenz :
cth :
mark stutley :

Hi Jed,what were your thoughts on ATM I know it's around 30 000 vnd /trams is that so bad? I'm looking to move to Hoi an to live, did u find a cheaper opt  can you let me know cheers mark

Hi Mark,
The atm fee isn't do bad but your bank will charge you for an international transction. That can add up if you were to withdraw a  large amount where the atm has a 2 mil limit.

If you don't mind just paying the atm fee, have a look at the 28 degrees MasterCard, no international transaction fees, no exchage fees and no anual fees.

*Edit - just checked out their site. There's been/will be changes in regards to the fees so check out the site.

Wow, how can they do it for free, there must be some sort of hidden catch???? Or they must get a good whack out of that ATM fee?

There MUST be a hidden catch (fees) somewhere. No bank gives services for free if they can help it. :(
Check back over as many years as you like. TRY to find even one quarterly statement released by any of the major banks in Australia and tell me when was the last time any bank has not made a new record profit. :rolleyes:
Every time there is an announcement of the banks reducing customers costs for any of the bank's 'services' - they sneak in another cost somewhere else that more than makes up their profits again.
You've only got to look at how hard the major banks have been fighting ever proposed change to keep their interest rates, all of their different fees and annual credit card charges so high to realize what a total rip-off banks are.
Ever since the government FORCED Australians to have their salaries paid directly into their bank accounts, instead of being allowed to get paid in cash, the banks have been increasingly gouging everyone for every cent they can. :mad:
Banks claim to be looking after the interests of their shareholders. But all they are doing is gouging everyone for every last cent they can to 'reward' their fat cat CEO's and board members with outrageously high salaries and ridiculously high bonuses ! :mad:
Banks are bigger liars and thieves than the government, and that's really saying something ! :P

(end of rant !) :lol:

Just checking out P&N bank, who have always treated me well on the fees score as to what they can do when I move will in form or provide link soon in the mean time try p&nbank.com

Flip465 :
bluenz :
cth :


Hi Mark,
The atm fee isn't do bad but your bank will charge you for an international transction. That can add up if you were to withdraw a  large amount where the atm has a 2 mil limit.

If you don't mind just paying the atm fee, have a look at the 28 degrees MasterCard, no international transaction fees, no exchage fees and no anual fees.

*Edit - just checked out their site. There's been/will be changes in regards to the fees so check out the site.

Wow, how can they do it for free, there must be some sort of hidden catch???? Or they must get a good whack out of that ATM fee?

There MUST be a hidden catch (fees) somewhere. No bank gives services for free if they can help it. :(
Check back over as many years as you like. TRY to find even one quarterly statement released by any of the major banks in Australia and tell me when was the last time any bank has not made a new record profit. :rolleyes:
Every time there is an announcement of the banks reducing customers costs for any of the bank's 'services' - they sneak in another cost somewhere else that more than makes up their profits again.
You've only got to look at how hard the major banks have been fighting ever proposed change to keep their interest rates, all of their different fees and annual credit card charges so high to realize what a total rip-off banks are.
Ever since the government FORCED Australians to have their salaries paid directly into their bank accounts, instead of being allowed to get paid in cash, the banks have been increasingly gouging everyone for every cent they can. :mad:
Banks claim to be looking after the interests of their shareholders. But all they are doing is gouging everyone for every last cent they can to 'reward' their fat cat CEO's and board members with outrageously high salaries and ridiculously high bonuses ! :mad:
Banks are bigger liars and thieves than the government, and that's really saying something ! :P 
   (end of rant !) :lol:

You should see what Bank executives make here a month, talk about criminals, we're talking 100's of mil VND a MONTH, plus BMW's,V8 Landcruisers, Lexus, etc free petrol, etc, etc.

Just checked out the whole internet transfer option. It all seems straight forward. All you seem you need to do is open a account in Vietnam get the swift codes off them and transfer your AUD to nam and get AUD out. I found Westpac the cheapest at $20 for $10000 and most helpful then Commonwealth bank at $22 with ANZ the least helpful and dearest at $32.
bluenz just a question how much does it cost to withdraw that money from the nam bank? Or could I just get it out in dong on my nam bank card, I'm hoping that would be free.

BIGJED1975 :

Just checked out the whole internet transfer option. It all seems straight forward. All you seem you need to do is open a account in Vietnam get the swift codes off them and transfer your AUD to nam and get AUD out. I found Westpac the cheapest at $20 for $10000 and most helpful then Commonwealth bank at $22 with ANZ the least helpful and dearest at $32.
bluenz just a question how much does it cost to withdraw that money from the nam bank? Or could I just get it out in dong on my nam bank card, I'm hoping that would be free.

I could never figure out the Bank costs here, ( the wife does it all ), I'll pretty sure they don't charge for withdrawals, and very little for exchanging $A's.  They usually have the exchange rates on a wall in the Bank.

Don't use the Currency exchanges at the Airport in OZ, they give you a piss weak exchange rate and also charge you a fee for the privilege of being ripped off, in HCMC Airport, after you clear customs, as you go through the exit door after you pick up your luggage, on the right , there are money exchangers there, they give you a good rate.

uhm my bank gives free atm withdrawal on their side because I have the highest account level. Of course on the Vietnamese side they'll charge fees.

Bluenz, thanks for all the help. Love to catch up and buy you a beer. Westpac the go, they know there stuff. We will be arriving inBox an  in Feb if you want to catch up. Plus we will be helping CHIA org in hoi an if you miss us. I don't think you will as I plan to meet everyone.

hoi an that is.

BIGJED1975 :

Bluenz, thanks for all the help. Love to catch up and buy you a beer. Westpac the go, they know there stuff. We will be arriving inBox an  in Feb if you want to catch up. Plus we will be helping CHIA org in hoi an if you miss us. I don't think you will as I plan to meet everyone.

Sounds good Jed,  looking froward to it,  Quang Ngai is about 100kms sth of Hoi An, but you will probably want to see Ba Na Hills, My Son, etc, My Lai Museum is only a few kms away from me.

Cool we will be around so good to have some contacts.

Hi Jed,

I have a slightly different scenarios to you. I have a USD bank account, but don't want to transfer money into Australia directly because I have to pay ridiculously high tax since I'm already in the top PAYG income bracket.

Next if you need a transfer, I can wired to your USD account in Vietnam, and you can wired the equivalent AUD fund from your ANZ to my ANZ account.

Cheers,
Scott.

Sorry Scott sounds dodgy as sin. Plus would be a nightmare to sort out from maybe save $50. Unsure about taxing laws. Good luck.

My Aus friend just uses his ATM card here in VN and gets cash straight out of his Oz account as VNĐ.

Ian from Brisbane. I used to use Hai Ha money exchange, bit of a hassle though, although service fee only $4.
Now I use Western Union,money in HCM. in minutes. Cost $4.

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