Money Transfer

[utst10 0]

Has anyone wired money from a Wells Fargo account to a Vietnam Bank?

I think they say there is a flat fee of $12 from account ($14 for cash transaction) and you can wire up to $3000 daily to Vietinbank or Vietcombank.

I want to use this service but have not used it before.

This would be cheaper than the 1.5% they charged at the store in HK4.

[Dan_P 5]

You can add your wife or fiancee as a coowner of the account. I was able to do this for my wife when she was in Vietnam. She can then go to the bank and withdraw money. Not sure with your bank, but hsbc allowed me to add my wife onto my account.

[tcTTct 37]

Or you can use the remittance services if you're near a Vietnamese area for $1 per $100, same day delivery in USD which works out to $10 for $1000.

Edited November 9, 2011 by tcTTct

[brian_n_phuong 193]

Or you can use the remittance services if you're near a Vietnamese area for $1 per $100, same day delivery in USD which works out to $10 for $1000.

How do these services work at a profit? Some of the Việt Kiều at my work use them, but concerned they could be used as cover for other black market transfers.

Then again, I am tired of shelling out $14 transfer fees to Moneygram.

[sweetapple 1]

My husband sends me via Wells Fargo and I just come to Vietinbank to pick up cash in USD. I dont need to have any account at Vietinbank though. The fee is $12 for each transaction, maximum $3,000 a day. You need to have remittance account with WF. It acts like a middle account. If you just send under 400, I think you should use some service of Vietnamese there coz cheaper and its door to door delivery.

[utst10 0]

At the viet places that transfer money (in Houston), the fee is usually $2 for each hundred and $1.5 if you send more than $500...or at least the last time I went to send money.

If you're sending less than $1000, using these services is cheaper and they deliver directly to the reciepient door. But if you send over $1000 it would make more since to do it through WF.

I didn't know you didn't need an account with the bank in Vietnam.

[tcTTct 37]

How do these services work at a profit? Some of the Việt Kiều at my work use them, but concerned they could be used as cover for other black market transfers.

Then again, I am tired of shelling out $14 transfer fees to Moneygram.

I've often wondered how they manage to make any profit. The one I use - Le Goi Tien Le - has been in business forever, licensed as a money transfer business in California, and the money is delivered in Vienam by Dong-A bank (which means East Asia bank so stop snickering lol) which is a reputable bank, the same day. All for $1/$100.