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Paypal in Vietnam


jphasia

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Hello,

Does anyone use Paypal in Vietnam to send money abroad?

I already have a Paypal account in Thailand.

I have open another Paypal account in Vietnam and link my local bank account to it.

My goal is to transfer money from Vietnam to Thailand.

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I use PayPal in Thailand and the US but not in Vietnam. You should be able to do what you plan to do, but it's slow (PayPal withdrawals to banks in Thailand take 3+ business days) and expensive - fund PayPal in VND, cash out in THB, converted at less than favorable exchange rates plus fees.

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My mate owed me some money & he sent it from his PayPal in Vietnam to the Philippines but he had quite a fiasco doing it! Had to get everything verified at main WU branch & the post office & bank (not sure why) As already pointed out the fees were high & the exchange rate not very good. It's easy receiving money in Vietnam via PayPal but they try to put as many obstacles & excuses if you're trying to send the money out!

Edited by phil2407
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On 11/2/2020 at 7:06 AM, jphasia said:

Hello,

Does anyone use Paypal in Vietnam to send money abroad?

I already have a Paypal account in Thailand.

I have open another Paypal account in Vietnam and link my local bank account to it.

My goal is to transfer money from Vietnam to Thailand.

You can do it that way but there will be charges and the exchange rate is poor.

I use swift transfer bank to bank, takes 3 days to clear but exchange rate is ok. depending on the bank check the transfer cost.

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10 hours ago, captnhoy said:

Not related to VN but I use Transferwise to send money to Thailand. Quick, inexpensive and no hassle all via web. Sometimes done in no more than 2 hours.

That's what i have been told. I signed up a transferwise account here but i am not sure how to credit the account from here ( send the money to transferwise)

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14 minutes ago, hotchilli said:

You can do it that way but there will be charges and the exchange rate is poor.

I use swift transfer bank to bank, takes 3 days to clear but exchange rate is ok. depending on the bank check the transfer cost.

Yes, went to the bank yesterday. I asked them if and how it was possible to transfer money to Thailand. They told me it can be done only at the counter and only my passport was needed.

I proceeded then immediately and they told me it will take 3 to 5 days. I didn't ask about the fees but they told me the exchange rate will be the exchange rate from the day. As I had only VND available, they made me buy USD and then transfer.

I have 2 accounts. 1 VND and 1 USD. In the future, my salary will paid directly in USD to my USD account. So it might be easier to transfer directly from my USD account.

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12 hours ago, jphasia said:

That's what i have been told. I signed up a transferwise account here but i am not sure how to credit the account from here ( send the money to transferwise)

I think there are multiple ways but I always use my Visa debit card. Quick simple inexpensive. Guaranteed exchange rate for 72 hours I think.

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  • 9 months later...

My pensions are direct deposited into a USA bank. I use the ATM card for PayPal purchases and for ATM machines in VN. Never paid attention to the fees charged by the ATM for withdrawing MILLIONS of VND which would last me the entire month. In the Phils I used both BPI & BDO but discovered BDO was too restrictive when I was traveling from Ilocos Norte down to Zamboanga. Withdrew USD then exchanged them for pesos at any outside money changer to recover whatever I could. Money changers ALWAYS did better than either bank. As this is an older post and you've likely solved your issue, hopefully others reading this will have gained knowledge via my experiences.

Edited by 2Amusing
reversed USD from pesos.
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11 hours ago, 2Amusing said:

My pensions are direct deposited into a USA bank. I use the ATM card for PayPal purchases and for ATM machines in VN. Never paid attention to the fees charged by the ATM for withdrawing MILLIONS of VND which would last me the entire month. In the Phils I used both BPI & BDO but discovered BDO was too restrictive when I was traveling from Ilocos Norte down to Zamboanga. Withdrew USD then exchanged them for pesos at any outside money changer to recover whatever I could. Money changers ALWAYS did better than either bank. As this is an older post and you've likely solved your issue, hopefully others reading this will have gained knowledge via my experiences.

Thanks for sharing your experience.

Yes, this is an old post and since I solved my issues to transfer money to Thailand.

First I was using my Vietcombank to transfer money to Thailand but it could be done only at the counter.

Since, I opened an account at Standard Chartered which are friendly with expats.

Transferring money outside Vietnam can be done with their bank app. Transfer are quick, depend what time you do the transfer but it is credited the same day in Thailand or the next day.

The fees for international transfer is about 0.20% and exchange rate based on the day exchange rate.

Actually, I just transfered 8,500 USD yesterday morning and it was credited in the afternoon in my Thai account. The fees was 22 USD.

I am getting paid in Vietnam in USD to my USD account in Standard Chartered. So international transfer can done directly from USD account.

For my living expenses in Vietnam, i transfer what i need to my VND account without any fees and use my SC debit card.

All transactions can be done with the banking app. I actually never been to their branch. They came to my account for account opening and deliver the cards to me.

But of course, you must have a local salary, work permit and TRC for that.

Very convenient bank. They even gave me  a credit card.

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