Vietnam maintains foreign exchange controls administered by the State Bank of Vietnam: inbound transfers (remittances, salary from abroad, investment capital) are generally straightforward, but outbound transfers of significant sums require documentation showing the legitimate purpose (salary repatriation, investment capital return, inheritance, tuition, etc.) — banks act as the gatekeeper checking this paperwork before processing a SWIFT transfer out of the country. Retail inbound remittances (kiều hối) benefit from a well-established, low-fee network; capital account outflows (e.g., proceeds from selling property or a business) are more heavily scrutinized.
Getting money out of Vietnam is meaningfully harder than getting it in — banks require documented proof of the source of funds for larger outbound transfers, so anyone planning to eventually repatriate salary, investment returns, or property sale proceeds should keep clean paper trails (labor contracts, capital contribution certificates, tax payment receipts) from day one.
Key Facts
Inbound personal remittances are simple and low-cost via bank wire, money transfer operators (Western Union, MoneyGram), or increasingly via digital remittance apps partnered with local banks.
Outbound transfers of salary/personal savings by foreign workers are permitted but require supporting documents: labor contract, tax finalization/payment proof, and the source bank account showing the funds were legitimately earned in Vietnam.
Outbound capital transfers (e.g., repatriating profit from a foreign-invested enterprise, or proceeds from selling real estate/shares) require a Direct/Indirect Investment Capital Account (DICA/IICA) structure and specific SBV-compliant documentation — this is a formal legal requirement, not a bank preference.
The Vietnamese dong (VND) is not freely convertible/tradeable offshore — most retail FX transactions must go through licensed onshore banks or authorized FX dealers.
SWIFT transfer fees for outbound transfers typically run USD 10-35 plus intermediary/correspondent bank fees, and processing takes 1-5 business days depending on destination and compliance review.
Large or unusual transfers can trigger enhanced due diligence/compliance holds, especially those inconsistent with the account's declared income profile.
Steps
For inbound remittances — Use a bank wire, licensed money transfer operator, or a remittance-partnered digital wallet — inbound transfers are lightly regulated and usually processed within 1-3 business days.
For outbound salary/savings transfers — Gather your labor contract, PIT finalization/payment receipts, and bank statements showing the funds' origin before requesting the transfer — banks will ask for this before releasing funds above a moderate threshold.
For outbound investment capital — If repatriating profit or capital from a Vietnamese company or property sale, ensure funds flow through a properly registered DICA/IICA account from the outset — retrofitting this after the fact is far harder and can delay or block the transfer.
Compare SWIFT fees across banks — Get a fee quote (including likely intermediary bank deductions) before initiating a large outbound transfer, since fees and FX spreads vary meaningfully bank to bank.
Keep documentation for several years — Retain contracts, tax receipts, and capital account paperwork for at least several years in case a future, larger transfer requires historical proof of the fund's origin.
Costs
Outbound SWIFT transfer fee: USD 10-35 plus possible intermediary bank fees
Inbound remittance fee: Often low or free via bank wire; money transfer operators charge a service fee
FX conversion spread: Typically 0.5%-2% off the interbank rate depending on the bank
Timelines
Inbound transfer processing: 1-3 business days
Outbound salary/savings transfer (with full documents): 1-5 business days
Outbound investment capital repatriation: Can take several weeks if DICA/IICA setup or compliance review is required
Required Documents
Labor contract and PIT finalization/payment receipts (for salary/savings repatriation)
Direct/Indirect Investment Capital Account documentation (for investment capital repatriation)
Source-of-funds evidence (bank statements, sale contracts)
Passport and account KYC information
Common Mistakes
Not setting up a DICA/IICA account before investing capital in Vietnam, making later repatriation of profits or sale proceeds far more complicated.
Assuming outbound transfers work like inbound ones — larger outbound transfers routinely require documented proof of the source of funds that many foreigners haven't kept.
Underestimating total cost by ignoring intermediary/correspondent bank deductions on SWIFT transfers, which can silently reduce the amount received abroad.
Attempting to transfer large sums without first confirming with the bank what documentation will be required, causing delays or transfer rejection.