Move money out of Vietnam

pdbatt1 wrote:

I researched this but many of the posts are older.
I want to send a 1000 USD to Philippines but my wife asked the bank and they said she can only send to family, not friends.
Any one have any ideas.
I am working on my work permit and will have that shortly, but have never seen a country so hard to do business with in another country.
Oh well.
Thanks in advance for any ideas and thoughts

Do you have the paperwork to show where you got the 1000 USD from, eg money transfer, salary slips.

yes I do, its still a headache
thanks

pdbatt1 wrote:

yes I do, its still a headache
thanks

The problem is that you want to send to an account not in your name. Do you have an account there in your name.

sorry no I do not

pdbatt1 wrote:

sorry no I do not

Very hard to transfer money, only other way is sending through a 3rd party like a gold shop.

yes thanks, i have heard of this, never tried it, I am one hour from HCMC

I have my own accounts back in USA and would gladly just send it there but my bank only takes a USD to USD transfer and Vietcom doesnt seem to want to do this. I have a bank account with them

pdbatt1 wrote:

I have my own accounts back in USA and would gladly just send it there but my bank only takes a USD to USD transfer and Vietcom doesnt seem to want to do this. I have a bank account with them

One way (not cost effective):

At Vietcombank, use your $1,000.00 to open a prepaid Visa debit card account.

Then spend with it in the country of your choice.

If you have a merchant friend, they can do a POS "sale" for you, give you the money, and you'd probably only need to pay them their normal credit card processing fee.

Foreign transaction fees would probably also apply.

You also might get burned in the exchange of VNĐ to USD

So it's actually a terrible idea, except it's better than getting nothing from your bank.

pdbatt1 wrote:

I have my own accounts back in USA and would gladly just send it there but my bank only takes a USD to USD transfer and Vietcom doesnt seem to want to do this. I have a bank account with them

If you sent the money into Vietcombank as USD, you can transfer it out as USD.

pdbatt1 wrote:

I have my own accounts back in USA and would gladly just send it there but my bank only takes a USD to USD transfer and Vietcom doesnt seem to want to do this. I have a bank account with them

Why don't you just use an online transfer service like TransferWise?  Really easy, effective and cheap.  Never had a problem transferring money out of a U.S. bank account to foreign bank accounts (i.e., USD to local currency).

I would except they do not transfer money from Vietnam to USA, only to here

pdbatt1 wrote:

I would except they do not transfer money from Vietnam to USA, only to here

I think he is referring to using your US bank account to send the money.

colinoscapee wrote:

pdbatt1 wrote:

I would except they do not transfer money from Vietnam to USA, only to here

I think he is referring to using your US bank account to send the money.

Yes.

Yes thanks, I can easily send the money from USA to Vietnam through my bank account easily with transferwise, But i have spoken with transferwise directly and they do not allow me to send money from Vietnam to USA.

pdbatt1 wrote:

Yes thanks, I can easily send the money from USA to Vietnam through my bank account easily with transferwise, But i have spoken with transferwise directly and they do not allow me to send money from Vietnam to USA.

You really are not getting it.

Send the money from your US account to the person in the Philippines, forget about trying to do it from VN.

I fully get it, way to easy, I am living and working here, My money is 100% in Vietnam now, would be so easy if my money was in USA, thanks