Kiwiming wrote:Hi there,
I have just bought an apartment in HCMC and hoping to rent out once settled. At the moment, I am having trouble trying to transfer money from Hong Kong dollars to Vietnamese dongs and as far as I can see, you cannot do it. Can only transfer from HKD to HKD and then the correspondence bank (in Vietnam) will convert it into VND. Is there anyway I can do it without getting hit with a big fee and bad exchange rate?
Thanks in advance.
Kiwiming
I don't think there's any better solution.
I am in the same situation and have to transfer CHF to Vietnam.
The exchange rate through the correspondent bank is not very good, but the fees are about 25$ which is not very much with 3 billion Dong.
You have to make a SWIFT transfer with the option OUR (sender pays costs) at your bank in Hong Kong, then the fee should be about $25 regardless of the amount transferred.
If you use TransferWise, the exchange rate is better, but the fees for this high amount are substantial and cancel out the better exchange rate.
Someone here in the forum probably will suggesting Bitcoin as a good alternative for moving money.
I personally say, if you are a gambler nature, you can try.