I know many of you expats or vietnamese have relative in other different country and searching for the right methods to transfer money globally. What methods that would not cost a dime to transfer abroad (transfer fee)?
If you have Standard Chartered account, the more you wanted to transfer abroad the more transfer fee you have to pay. I know this for sure because I known someone who opened an bank account in Standard Chartered Bank in Vietnam. Even you have Standard Chartered in another country, to transfer within bank would still applicable foreign exchange control regulations.
However, if you open bank account with Citibank Vietnam, want wish to transfer funds between Citibank accounts the transfer fee is FREE. However, if you wish to transfer between Vietnam to UK or all over Europe the transfer wont be unable to made instantly. You can click the link I provide at the end of this blog/page for further information. Certain country for global transfer yes it can be made instantly.
While HSBC Vietnam bank, also offers the same free transfer for globally but if you have HSBC Premier account holders then theres more benefit in your hand. Ability to transfer money globally but only within the same bank is permitted. Besides these three types of bank, theres a local bank as well for you to choose but I believe they would charge quite high transfer fee to internationally or they might not allow any internationally transactions.
Western Union also can be one choice for transferring money overseas as they have 3 options to choose from which is Money in Minutes Services, Send Money to Bank Account, and To a Mobile Phone. Western Union in Vietnam, just need to google and find their nearest location to yours. I also paste the link down below.
World First does international wire transfer, but sadly they do not have services for us in Vietnam. Vietnam is growing and things should be getting easy to do. Unfortunately thats not the case and quite few other things that are not yet available in Vietnam. Very sad. Or if you know what other best way to transfer money abroad, let me know.