Regarding Money Transfer from Vietnam to India

Respected All

I am working in Da Nang. I need some assistance. I want to transfer the money from my Agri Bank Account to India...

What is the best source and reliable method to transfer the money and in fast manner?

Regards

Dr. Anand Nayyar

Direct bank transfer is the best and cheapest option.
Agri bank may charge a higher fee. If that's the case, go to VCB (Vietcombank). They will charge around 20 US.
You need to show them your payslips, copy of WP and PP.

I have talked to Agri Bank, they are charging $11 , $20 is high...

What about Moneygram or some other links...

anand_nayyar :

I have talked to Agri Bank, they are charging $11 , $20 is high...

What about Moneygram or some other links...

If Agri charges 11 US go ahead.
Some other banks I know, mostly private, charge much higher fees.

Moneygram and WU will be more costly and you have to do a load of paperwork and submit documents etc.

Kindly solve my this issue,

I have come to know that it is very hard and sometimes difficult to transfer the money in reliable manner from Vietnam to India.

Some, people say that sometimes some transactions also get lost and sometimes transactions get stuck and money is also not refunded.

I want to stay out and I want reliable transfer from my Bank Account from Vietnam to India without any problem.

Can you tell me if I use my bank itself to transfer the money, how much time will they take to transfer the money back to India to my bank account.

Regards

anand_nayyar :

Kindly solve my this issue,

I have come to know that it is very hard and sometimes difficult to transfer the money in reliable manner from Vietnam to India.

Some, people say that sometimes some transactions also get lost and sometimes transactions get stuck and money is also not refunded.

I want to stay out and I want reliable transfer from my Bank Account from Vietnam to India without any problem.

Can you tell me if I use my bank itself to transfer the money, how much time will they take to transfer the money back to India to my bank account.

Regards

In the past I used VCB on several occasions and MoneyGram (once in emergency) to transfer money to India. Money was never lost in transaction.

I'm not sure who is giving this info to you, none of my expat colleagues ever had any such issue while sending money abroad via bank transfer.

If you have an acct in an Indian bank, you can safely wire-transfer money from a VN bank. You need the SWIFT code... and the name of the intermediary bank, if that applies.

For MoneyGram, they charged me a huge fee and on top of that they routed the transaction through a HK bank which deducted 20 USD more.

Bank transfer usually takes 4 - 7 days. It may vary from bank to bank. MoneyGram the same.

Send a small amount to check how bank-transfer works for you.
If you're not confident about VN banks, there's an Indian bank in HCMC (Bank of India). Get in touch to arrange a transfer through them, if possible.

So, you mean to say that If I got to my own bank, Agribank and they are charging me some money and they do Western Union and I keep it regularly on monthly basis. No issue will be there...

The money will be safe and sound.

Bank transfer is supposed to be a direct acct to acct wire transfer.
If Agri sends it through WU, WU may charge extra fee. Talk to them about it in details.

There is another nontraditional way to do: Using cryptocurrency. Buy ETH or BTC in remitano or localbitcoin in VietNam site and sell it back in your destination country site.
I did it sometimes. No paper works involves, 10-30 mins for confirmations.
But, do your own calculation before executing.

Ok...Is the bank transfer possible via Online.

anand_nayyar :

Ok...Is the bank transfer possible via Online.

No, you need to present your PP at the counter and fill up a form as well.
They may ask you for a copy of WP (and Payslip/s - optional) if they don't already have it.

Thanks so much for your support. It is better that I should go to to the Agribank and transfer there. Will they use Western Union and no problem if I do it every month.

anand_nayyar :

.... if I do it every month.

There must be a cap on how much of your monthly salary you can send out of VN every month. It's normal. Just ask your bank for more info.

Dear Dr.Anand,

Can you please advise which is the best channel to send money from vietnam to India.



Regards
Avi

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