Australia and Vietnam have enjoyed a longstanding relationship that covers areas including trade, border security and immigration. And the connection between the two countries doesn’t end there. From wellbeing treatments to cuisine, Vietnamese culture is deeply rooted in Australian society. In return, there’s a constant demand for providers that transfer money back to loved ones in Vietnam. Find out how to send money from Australia to Vietnam and what you should know before you do.
Sending remittances from Australia to Vietnam
The Vietnamese are the sixth-largest overseas-born population in Australia. As a result, the number of money transfers from Australia to Vietnam has risen too. When you send Australian dollars (A$/AUD) to Vietnam, your money is usually delivered in Vietnamese đồng (VND), represented by the “₫” or “đ” symbols. However, some money transfer providers such as Azimo also offer collection in euros and US dollars.
|Fun fact: Vietnam is Australia’s fifth-largest source of international students.|
Pay the lowest fees when transferring money from Australia to Vietnam
When you send money to Vietnam, look for a provider that offers a single, transparent and fair transfer fee. That way, your loved ones will likely get more Vietnamese dong when you transfer Australian dollars to Vietnam.
Many money transfer outlets and agents love to advertise great rates while failing to mention their hidden fees. If an exchange rate seems too good to be true, that’s because it usually is.
Azimo charges one transparent fee on transfers from Australia to Vietnam that’s usually among the lowest on the market.
Get the best exchange rates when sending money from Australia to Vietnam
Make sure you’re being offered a fair exchange rate by checking the mid-market exchange rates between currencies. A reasonable exchange rate will match or be as close to the mid-market (or interbank) rate as possible. Knowing the exchange rate will also help you estimate how much your loved ones should expect to receive at the other end.
For more useful tips, have a look at our guides to getting the best exchange rates and what makes currencies fluctuate. Even in stable economies, exchange rates go up and down on an hourly basis. The difference might appear small at first, but it soon adds up when you’re sending hundreds or thousands of Australian dollars to Vietnam.
|Top tip: Whereas all Australian bank accounts have BSB numbers, Vietnamese bank accounts use SWIFT codes. If you’re sending money to a bank account in Vietnam, you’ll need to know its eight or 11-digit SWIFT code.|
Sign up for rate alerts
If you’re planning to send Australian dollars to Vietnam, get a head start by setting up a rate alert. By signing up to Azimo’s rate alert service, you’ll receive notifications when there’s a great exchange rate between AUD and VND.
Rate alerts are beneficial when you’re looking to send large sums and can afford to wait a little longer for a favourable exchange rate.
Avoid using your bank when sending money from Australia to Vietnam
There are a lot of reputable banking institutions in Australia, such as the Commonwealth Bank of Australia (CommBank) and Australia and New Zealand Banking Group (ANZ). While sending money with your bank might seem like a good idea, you should think again if you want to avoid costly transfers.
Banks are well-versed in hiding charges and fees for sending money abroad. In fact, we’ve written a guide on why you should avoid using a bank to send money overseas.
Need an Australian bank account? Read our guide to setting up an Australian bank account and start saving, depositing, receiving and transferring money. Register with Azimo today and get two fee-free transfers (the first at a special exchange rate) when you send money overseas.
Use a dedicated money transfer provider
There’s a lot of choice in Australia when it comes to transferring money to Vietnam. In addition to money transfer outlets, parallel market operators and banks, there are now several fintech companies like InstaReM, TransferWise and WorldRemit.
Thanks to innovative technology, these providers usually offer a faster, cheaper and safer way to send money to places like Hanoi, Ho Chi Minh City, Haiphong and beyond.
For example, Remitly offers cash transfers to mobile wallets, cash delivery at home and mobile phone top-ups in Vietnam. These are especially great features if you have relatives that live in remote parts of the country. Interestingly, a service like OFX allows you to send as much as A$2 billion from Australia to Vietnam. Usually, though, you’ll find the best overall deal with Azimo.
Transfer money to Vietnam from Australia with Azimo
Along with just one fair and transparent fee, Azimo often has the best exchange rates on the market. And with our instant delivery times to many locations, it’s no wonder why we’ve received more than 40,000 five-star reviews on Trustpilot.
Enjoy multiple delivery options when you send money from Australia to Vietnam with Azimo. You can also top-up a loved one’s mobile phone with a selection of amounts in Vietnamese dong. We work with popular and extensive mobile networks in Vietnam to cover most parts of the country.
Azimo only works with the most trusted financial institutions in Vietnam, such as Vietcombank and VietinBank, which means you can have peace of mind that your transfer is secure every step of the way. Finally, check the Azimo pricing page to see how you can save up to 90% versus other money transfer providers like Skrill and WorldRemit when you send AUD to Vietnam.
Discover a faster, cheaper way to send money from Australia to family in Vietnam. Download the app on iOS or Android and start transferring funds. Register today and get your first two transfers fee-free and at exceptional exchange rates.