Transferwise

Whee does it say the cad won't work in Vietnam. It's a mastercard debit card.. I don't have mine anymore but for the first 5 months of last year it worked fine in ATMs in HCM

... maybe it is. from AU to SEA countries. i never check because i only need AU.

so try RIA.

Jlgarbutt wrote:

Whee does it say the cad won't work in Vietnam. It's a mastercard debit card.. I don't have mine anymore but for the first 5 months of last year it worked fine in ATMs in HCM

====

Can I get the Wise card in my country?

The Wise card is currently available for residents of these countries and regions who have a Wise account.
Europe

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France (only Metropolitan), Germany, Greece, Hungary, Iceland, Italy, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, Gibraltar (British Overseas Territory) and the UK Crown Dependencies: Guernsey, Isle of Man, and Jersey.
Asia

Singapore and Japan.
Oceania

Australia and New Zealand.

===

Ah yes sorry you are correct about place of issue, i had mine while i was still in the UK.

sorry jason.  .

paulmsn wrote:

TransferWise was eventually successful in sending money from my US bank to Vietcombank, although it took over a week.  Part of that was the three-day weekend in the US delaying the transfer of money from my bank to TransferWise.  They charged me $101.15 USD for a $10,000 transfer. 

The transaction was as described earlier -- I started the transfer, TW waited until the NAPAS transfer was rejected by Vietcombank, then initiated a successful manual transfer.

Did transfer ('Send Money) using Wise on 03 August. transfer came through to my pvcom bank account within minutes.

23 August tried sending money to same account. This time it was rejected. Tried (re-try transfer option) again. Rejected again and money returned to wise account.

PVCom bank account has my middlename, so figured it may be something to do with my middlename not being included with transfer, so included it and sent another transfer, this time for just 10,000 VND. Again rejected. Asked wise support to intervene. They did, but again rejected.

Now Wise support has asked me to send a bank statement (of PVCom bank account), so they can look in to it further.

Andybris2020 wrote:

Jlgarbutt wrote:

Not sure if you can get one here, but TransferWise back home also issue MasterCard for use in store or ATM

Didnt know that one, very interesting.

I just looked at getting it said
"We're sorry, cards haven't reached Vietnam yet
Click below to be the first to know when they do."

exactly

BassPlayer wrote:

paulmsn wrote:

TransferWise was eventually successful in sending money from my US bank to Vietcombank, although it took over a week.  Part of that was the three-day weekend in the US delaying the transfer of money from my bank to TransferWise.  They charged me $101.15 USD for a $10,000 transfer. 

The transaction was as described earlier -- I started the transfer, TW waited until the NAPAS transfer was rejected by Vietcombank, then initiated a successful manual transfer.

Did transfer ('Send Money) using Wise on 03 August. transfer came through to my pvcom bank account within minutes.

23 August tried sending money to same account. This time it was rejected. Tried (re-try transfer option) again. Rejected again and money returned to wise account.

PVCom bank account has my middlename, so figured it may be something to do with my middlename not being included with transfer, so included it and sent another transfer, this time for just 10,000 VND. Again rejected. Asked wise support to intervene. They did, but again rejected.

Now Wise support has asked me to send a bank statement (of PVCom bank account), so they can look in to it further.

And so your personal experience confirms what has been posted almost countless times on this forum.

It's relatively easy to bring money into Vietnam, but it's extremely difficult to virtually impossible to send money out of Vietnam.

Even people who have kept complete records have had transfers out of Vietnam rejected.

Colin, for one. 

If he and his Vietnamese wife have had their attempts rejected, it's pretty clear that the average person is going to run into great difficulties when attempting to send money out of Vietnam.

It seems to have to do with banking officials who simply don't want to take the responsibility for approving a transaction.

It's just my guess, but I'm thinking that the government has banking officials very very scared of penalties for anything considered to resemble money laundering.

OceanBeach92107 wrote:

BassPlayer wrote:

paulmsn wrote:

TransferWise was eventually successful in sending money from my US bank to Vietcombank, although it took over a week.  Part of that was the three-day weekend in the US delaying the transfer of money from my bank to TransferWise.  They charged me $101.15 USD for a $10,000 transfer. 

The transaction was as described earlier -- I started the transfer, TW waited until the NAPAS transfer was rejected by Vietcombank, then initiated a successful manual transfer.

Did transfer ('Send Money) using Wise on 03 August. transfer came through to my pvcom bank account within minutes.

23 August tried sending money to same account. This time it was rejected. Tried (re-try transfer option) again. Rejected again and money returned to wise account.

PVCom bank account has my middlename, so figured it may be something to do with my middlename not being included with transfer, so included it and sent another transfer, this time for just 10,000 VND. Again rejected. Asked wise support to intervene. They did, but again rejected.

Now Wise support has asked me to send a bank statement (of PVCom bank account), so they can look in to it further.

And so your personal experience confirms what has been posted almost countless times on this forum.

It's relatively easy to bring money into Vietnam, but it's extremely difficult to virtually impossible to send money out of Vietnam.

Even people who have kept complete records have had transfers out of Vietnam rejected.

Colin, for one. 

If he and his Vietnamese wife have had their attempts rejected, it's pretty clear that the average person is going to run into great difficulties when attempting to send money out of Vietnam.

It seems to have to do with banking officials who simply don't want to take the responsibility for approving a transaction.

It's just my guess, but I'm thinking that the government has banking officials very very scared of penalties for anything considered to resemble money laundering.

Update, my wife was allowed to send money out due to her gaining a permanant residence visa in my country. She didnt have to supply any evidence as to where the funds came from. It took her 4-hours to send the money from our bank. The system in Viet Nam is a complete and utter joke.

Gone are the days when I monthly transferred funds from my Vietnam HSBC account via the internet to my Hawaii bank. Colinoscapee's wife is either a magician or capable of holding a charming Vietnamese 4 hours smile. I suspect both!

Some confusion here.

I'm sending money into PVCom bank, not out of it.

Wise (formerly Transferwise) do not offer sending VND out (outside Vietnam) as yet.

Hi guys,  So there is a lot of information here, but I am a bit confused.
I want to transfer $20,000 from my New York Chase account to my dollar denominated Vietcombank account here.   Is this a straightforward operation with WISE, or should I use someone else? I gather the fee is about 1%; should I look at any other company?

OceanBeach92107 wrote:

BassPlayer wrote:

paulmsn wrote:

TransferWise was eventually successful in sending money from my US bank to Vietcombank, although it took over a week.  Part of that was the three-day weekend in the US delaying the transfer of money from my bank to TransferWise.  They charged me $101.15 USD for a $10,000 transfer. 

The transaction was as described earlier -- I started the transfer, TW waited until the NAPAS transfer was rejected by Vietcombank, then initiated a successful manual transfer.

Did transfer ('Send Money) using Wise on 03 August. transfer came through to my pvcom bank account within minutes.

23 August tried sending money to same account. This time it was rejected. Tried (re-try transfer option) again. Rejected again and money returned to wise account.

PVCom bank account has my middlename, so figured it may be something to do with my middlename not being included with transfer, so included it and sent another transfer, this time for just 10,000 VND. Again rejected. Asked wise support to intervene. They did, but again rejected.

Now Wise support has asked me to send a bank statement (of PVCom bank account), so they can look in to it further.

And so your personal experience confirms what has been posted almost countless times on this forum.

It's relatively easy to bring money into Vietnam, but it's extremely difficult to virtually impossible to send money out of Vietnam.

Even people who have kept complete records have had transfers out of Vietnam rejected.

Colin, for one. 

If he and his Vietnamese wife have had their attempts rejected, it's pretty clear that the average person is going to run into great difficulties when attempting to send money out of Vietnam.

It seems to have to do with banking officials who simply don't want to take the responsibility for approving a transaction.

It's just my guess, but I'm thinking that the government has banking officials very very scared of penalties for anything considered to resemble money laundering.

BassPlayer wrote:

Some confusion here.

I'm sending money into PVCom bank, not out of it.

Wise (formerly Transferwise) do not offer sending VND out (outside Vietnam) as yet.

There's no confusion on our part; those of us who have been posting in this forum on this subject for quite some time.

But quoting you in context (which is always helpful) it's clear that you are confused about what you previously wrote.

Contrary to what you have just posted, you previously went into detail letting us know about your attempt to make a transfer through "Wise".

I was attempting to kindly tell you that what you "figured" was the problem is not the problem at all.

dlewis516 wrote:

Hi guys,  So there is a lot of information here, but I am a bit confused.
I want to transfer $20,000 from my New York Chase account to my dollar denominated Vietcombank account here.   Is this a straightforward operation with WISE, or should I use someone else? I gather the fee is about 1%; should I look at any other company?

With that amount of money you are asking for more than information about the Vietnamese banking system.

There are also the limitations of the US banking system to consider.

So your maximum transfer (even an initial transfer to a third party such as "Wise") has to be within the rules of the US banking system and IRS, as well as the maximum size of your deposit being within the rules of the Vietnamese banking system.

Having said all that, it's been clear from discussions here, that it's more affordable to send small amounts through services such as "Wise", but more affordable and sometimes free to use banking services such as Charles Schwab to send large amounts.

For example, let's assume that $20,000.00 USD is not the extent of all of your capital resources.

With a combined net worth of $25,000 USD or more in a Charles Schwab international account, your wire transfers would be free, though again, subject to US banking regulations and restrictions.

OceanBeach92107 wrote:

dlewis516 wrote:

Hi guys,  So there is a lot of information here, but I am a bit confused.
I want to transfer $20,000 from my New York Chase account to my dollar denominated Vietcombank account here.   Is this a straightforward operation with WISE, or should I use someone else? I gather the fee is about 1%; should I look at any other company?

With that amount of money you are asking for more than information about the Vietnamese banking system.

There are also the limitations of the US banking system to consider.

So your maximum transfer (even an initial transfer to a third party such as "Wise") has to be within the rules of the US banking system and IRS, as well as the maximum size of your deposit being within the rules of the Vietnamese banking system.

Having said all that, it's been clear from discussions here, that it's more affordable to send small amounts through services such as "Wise", but more affordable and sometimes free to use banking services such as Charles Schwab to send large amounts.

For example, let's assume that $20,000.00 USD is not the extent of all of your capital resources.

With a combined net worth of $25,000 USD or more in a Charles Schwab international account, your wire transfers would be free, though again, subject to US banking regulations and restrictions.

Here is a novel idea. Contact the US bank and the Vietnam banks and ask for the procedures to make a International Wire transfer. It's really a simple transaction even though it will take about a week to completed.
There are no amount limitations for a wire transfer set by the IRS. However if the transfer is $10,000 or more the transferring bank must report to IRS.
Some banks do have daily limits, Chase bank limit is $100,000. Charges vary. Best thing to do is contact the banks and get the information. Getting information here can be confusing and futile.

BassPlayer wrote:

paulmsn wrote:

TransferWise was eventually successful in sending money from my US bank to Vietcombank, although it took over a week.  Part of that was the three-day weekend in the US delaying the transfer of money from my bank to TransferWise.  They charged me $101.15 USD for a $10,000 transfer. 

The transaction was as described earlier -- I started the transfer, TW waited until the NAPAS transfer was rejected by Vietcombank, then initiated a successful manual transfer.

Did transfer ('Send Money) using Wise on 03 August. transfer came through to my pvcom bank account within minutes.

23 August tried sending money to same account. This time it was rejected. Tried (re-try transfer option) again. Rejected again and money returned to wise account.

PVCom bank account has my middlename, so figured it may be something to do with my middlename not being included with transfer, so included it and sent another transfer, this time for just 10,000 VND. Again rejected. Asked wise support to intervene. They did, but again rejected.

Now Wise support has asked me to send a bank statement (of PVCom bank account), so they can look in to it further.

Sent Wise the statement of my pvcom bank account and pointed out the last transfer that was received successfully on 03 August 2021 (it had SBR Terrapay in description). Wise support told me it will be forwarded to relevant team to escalate with partners and that it will take 1-2 weeks.

While waiting for Wise to get back to me, I did a test transfer using xe.com for just 1 GBP (paid a 2GBP fee on top). That was started on Friday 10 September. it arrived safely yesterday (Monday 13 September) at pvcombank account. Exchange rate was good (1 GBP = 31,234 VND). Seems xe.com use HiFx Europe to send on the backend.

So, after receiving that yesterday. i contacted Wise and asked for an update (told them I had managed to send successfully using a different provider to my Vietnamese bank account) as their 2 week time-frame was coming up this Saturday.

Wise Customer services replied and said issue has been resolved and that I can try sending (as they are now transferring using an alternate banking partner). So today, I sent 320 GBP using wise to pvcom bank account. Always tend to keep this amount the same, so I can keep track of rate with previous transfers. By the way, before sending I did a quick comparison with xe.com. Wise said I will receive 9,995,000 VND (after the disclosed wise fee of 2.88 GBP had been deducted), xe.com said I would receive 9,950,000 VND). Their website said the send fee is 'free' but I have a feeling they incorporate the fee into the rate (so the rate is slightly lower).

So, decided to go with wise. Soon after sending, received message from Wise saying money has been sent. Checked my PVCom bank app. Money was in the account. It literally took seconds.

Good experience. Only scruple is Wise not telling me once the issue was resolved and me having to chase up. I've complained about that. Waiting to hear back.

Mayen a glitch somewhere or security check.. I always found TransferWise very quick, usually say two days but it's seconds before it shows up in my account
I have used if for both VIB and Timo and never had problems

Same for me: I always use Wise to transfer from Europe to Vietnam, Vietcom bank.
Works within seconds.
For smaller amounts they are incredibly cheap, but I noticed for large amounts 'normal' bank transfers tend to be a bit cheaper, so it's worth comparing.

Every month use Wise to transfer money from europe to Vietnam, bank ACB.
But sometimes, when i send money in friday afternoon or saturday/sunday, money transfer to ACB after few day, in monday.

I have not used Transferwise yet. Got a question:
If I am already in Vietnam, when I sign up for Transferwise, the residing country should be Vietnam? or my home country?
If I registered my residing country as Vietnam, how can I arrange money transfer (using bank transfer) from my home country bank to Vietnam bank.

apple8 wrote:

I have not used Transferwise yet. Got a question:
If I am already in Vietnam, when I sign up for Transferwise, the residing country should be Vietnam? or my home country?
If I registered my residing country as Vietnam, how can I arrange money transfer (using bank transfer) from my home country bank to Vietnam bank.

Home location should be set as where you are living

TransferWise lets you find your account using debit or credit cards from anywhere.. just be aware that the registered card address should be one you have  access to

Once up and running you can move money in either direction and it's quick.. usually same day from experience.

The only thing you won't get here in Vietnam is a TransferWise MasterCard debit card.. but I didn't find that a problem

I am coming back to VN in December and will want to transfer some money from my Australian bank to my Vietcombank account.

Has anyone successfully transfered money from outside VN to a Vietcombank account recently using Wise?

Specifically Vietcombank and recently, within the last 2 months.

Thanks

I am coming back to VN in December and will want to transfer some money from my Australian bank to my Vietcombank account.
Has anyone successfully transfered money from outside VN to a Vietcombank account recently using Wise?
Specifically Vietcombank and recently, within the last 2 months.
Thanks
-@honem

Yes, Yes & Yes all same as normal nothing has changed.

I use Transferwise all the time. My bank is VietinBank, but I also do interbank transfers between Vietinbank and Vietcombank.

Wise is far cheaper that any other international and bank transfer rate I have used.

Very easy to set up the Transferwise account and very quick for the money to arrive in the bank you are transferring to money to.

@AndyHCMC

When you say "yes, yes and yes" what do you mean?

It wasn't possible before (about 2 years ago).

Yes it is possible.

No, it is not possible.

Yes or no please.

• @AndyHCMC
  When you say "yes, yes and yes" what do you mean?
  It wasn't possible before (about 2 years ago).
  
  Yes it is possible.
  No, it is not possible.
  Yes or no please.
  -@honem

Mine did on 12th same as all the months before, is your swift code BFTVVNVX?

Has anyone successfully transfered money from outside VN to a Vietcombank account recently using Wise?

1. Andy said yes.

Specifically Vietcombank

2. Andy said yes

and recently, within the last 2 months.

3. Andy said yes

At least that's the way I read his answer, "yes, yes and yes"

@Honem

Yes it works

@AndyHCMC

Geez, i'm not having problems.

I had to use swift before because Wise was not working.

Wise is working for me into Thailand.

So all I wanted to know is, is wise working now to Vietcombank.

@AndyHCMC
Geez, i'm not having problems.
I had to use swift before because Wise was not working.
Wise is working for me into Thailand.
So all I wanted to know is, is wise working now to Vietcombank.
-@honem

Only when sending to personal accounts.

Wise doesn't allow the sending of money to business accounts in Vietnam:

https://wise.com/help/articles/2932336/guide-to-vnd-transfers