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Are you a Vietnamese residing, studying, or working in Taiwan? After a period of work, accumulation, you have prepared a certain amount of NT dollars and want to send it back to Vietnam to pay debts, buy land, build houses,... invest in business? Regardless of your purpose, when reading this article, you must be looking for a convenient, cost-saving way to send money from Taiwan to Vietnam.
Best Transfer Fees, Services from Taiwan to Vietnam Today
Below are some useful solutions for transferring money from Taiwan to Vietnam.
1. How to Transfer Money from Taiwan to Vietnam
1.1. Sending money from Taiwan to Vietnam through friends, relatives
This is a common method that many Taiwanese brides, Vietnamese workers in Taiwan apply to send money back to their relatives in Vietnam.
Sending money this way eliminates the need for complex money transfer steps on transfer apps or spending time traveling to banks for transactions. Additionally, you save a small transfer fee.
However, according to Vietnam Customs import regulations, travelers from Taiwan to Vietnam are not allowed to carry more than 10,000 Taiwan dollars. Therefore, if you ask friends or relatives to bring money back for you, you can only ask them to bring a small amount of money (under 10,000 Taiwan dollars). Furthermore, when asking relatives or friends to carry money for you, you may also encounter some risks such as the receiver dropping the money, refusing to return the money, or having to exchange money at a low exchange rate.
Therefore, before deciding to transfer money from Taiwan to Vietnam using this method, you need to carefully consider all possible issues and make your own choice.
1.2. Transfer money from Taiwan to Vietnam via bank
Chang Hwa Bank stands as a pillar of trust, chosen by many Vietnamese residing and working in Taiwan to remit money to their loved ones in Vietnam.
When remitting money from a Taiwanese bank, senders must be fluent in Mandarin and provide comprehensive information about the recipient's bank account, including full name, bank, bank branch, address, etc., following Chang Hwa Bank's template. Additionally, recipients in Vietnam must possess accounts at banks affiliated with Chang Hwa Bank such as AgriBank, BIDV, Teckcombank, Vietcombank, Sacombank, Vietinbank, etc.
* Transferring and receiving money from Taiwan to Vietnam through the banking system.
Implementation Steps
Step 2: Fill in sender's and recipient's information, amount to be sent, etc., on Chang Hwa Bank's remittance form as required.
Step 3: Provide the remittance form, amount sent, and remittance fee to the bank teller.
Step 4: Upon completing the remittance transaction, Chang Hwa Bank's teller will provide you with a 14-character secret code.
Secure these secret codes and inform the recipient in Vietnam.
Step 5: The recipient presents the secret code along with a valid ID card or passport at the nearest bank branch designated for receiving funds to claim the money.
Forms guiding how to transfer money from Taiwan to Vietnam via Vietcombank, Teckcombank, AgriBank, Sacombank, Vietinbank,...
Additionally, you can transfer money from Taiwan to Vietnam through other banks in Taiwan such as Cathay United Bank, The Bank of Taiwan, Mega International Commercial Bank of China, Taiwan Business Bank,... These banks are affiliated with Vietnamese banks and assist you in completing your money transfer transaction from Taiwan to Vietnam.
1.3. Transferring Money from Taiwan to Vietnam via Mobile App
If you're unable to visit a bank for a wire transfer, you can also transfer money from Taiwan to Vietnam through electronic money transfer apps, enabling quick transactions from the comfort of your home at any time.
Trusted mobile apps for transferring money from Taiwan to Vietnam that you can download, install, and use include Seven, Vietmoney, Vietgo (Qpay), Vemo,...
Important Note:
- For the service of transferring money from Taiwan to Vietnam via app, you can only transfer a maximum of 90,000 NTD per month. Available options for receiving money through the app include transferring to a bank account in Vietnam, receiving cash at counters, or home delivery.
- The transfer fee from Taiwan to Vietnam through various money transfer apps ranges from 99 to 300 NTD per transaction.
Vietgo (Qpay) - Mobile app for transferring money from Taiwan to Vietnam
If you are in Taiwan, Vietnam,..., but have the need to send money to friends or family in the United States, you can download and use the PayPal Mobile Cash app to complete your transactions.
- Click here to download PayPall Mobile Cash
1.4. Transferring Money from Taiwan to Vietnam via Postal Service
This is a traditional way of transferring money from Taiwan to Vietnam, commonly used by many Vietnamese wives married to Taiwanese husbands. To transfer money at a Taiwanese post office, you need to be proficient in Mandarin and provide full recipient information (full name, address, ID number, etc.) to the postal staff, pay the transfer fee, and wait for notification from the recipient.
By using this method, the exchange rate of Taiwanese currency will be converted according to the official exchange rate of the central bank. After receiving notification, the recipient will bring their ID card to the designated post office to receive the money.
Compared to the methods mentioned above, executing transfers from Taiwan to Vietnam using this method will take quite a bit of time. On average, it takes about 7-10 days for the recipient in Vietnam to receive notification from the delivering post office.
Form for transferring money from Taiwan to Vietnam at Taiwanese post offices
1.5. Transferring Money from Taiwan to Vietnam via International Financial Company
Western Union is an international financial company specializing in money transfer operations, available in over 60 countries worldwide. If you need to transfer money from Taiwan to Vietnam, you can conduct transactions with Western Union via the WesternUnion.com website, phone calls, mobile app, or at physical stores affiliated with Western Union in Taiwan.
With its extensive network of agents, your money transfer from Taiwan to Vietnam through the Western Union system will be conducted quickly and securely. After completing the transaction, you will be provided with a transfer code. Simply inform your family members of this code and instruct them to bring their ID card to the designated bank to receive the money.
If you want to learn more about the concept, benefits, fees, and documents required for transferring money through the Western Union system, you can find answers in the article What is Western Union? Fees, necessary documents for sending and receiving money by Mytour.
Interface, how to send money from Taiwan to Vietnam via the Western Union app
Important Note:
- Typically, money sent from Taiwan to Vietnam will be converted to Vietnamese Dong or USD at the latest exchange rate. If you want to get the best rate when exchanging Taiwanese money to Vietnamese Dong, you can refer to our article where to exchange Taiwanese money at a high rate.
- Except for sending money from Taiwan to Vietnam via app and asking someone to carry money, when sending money at Taiwanese banks, post offices, or Western Union physical stores, you need to conduct transactions during their business hours. However, many Vietnamese workers in Taiwan have strict working hours and find it difficult to find time to conduct transactions. At this time, transferring money via money transfer apps will be the optimal choice for you.
2. Fees for Transferring Money from Taiwan to Vietnam
As analyzed above, the fees for transferring money from Taiwan to Vietnam depend on various factors: the method of sending money, regulations on sending fees of each service provider,...
On average, the transfer fee from Taiwan to Vietnam at Taiwanese banks ranges from 0.3% to 0.5% of the total amount sent, with receiving money in Vietnam being free of charge. In case the recipient opts for home delivery, you will incur an additional transfer fee.
3. How Long Does it Take to Transfer Money from Taiwan to Vietnam?
On average, the time it takes to transfer money from Taiwan to Vietnam ranges from 2 hours to 1 week of business days. Depending on the method of transfer, the sending time will vary. Money transfer transactions are fastest through money transfer apps, bank apps, or Western Union apps and slowest through traditional postal systems.
Above, Mytour has provided you with a fee schedule, various methods of sending money from Taiwan to Vietnam, and corresponding sending times. Please refer to the content of this article, consider your working hours, free time, personal financial conditions, and level of technological understanding to choose the best money transfer solution for yourself. Wishing you success.
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