How to make remittances from Japan to Vietnam?

Japan is a developed country with a thriving manufacturing industry and an extremely strong economy (ranked 2nd in the world) after the U.S.

Due to this, a large number of workers and foreign students have chosen this nation to settle in and start businesses, and the sum of money they send from Japan to Vietnam is not insignificant.

In this essay, let’s find out with FinFan the lives of Vietnamese workers and students in Japan and how they can send money back home.

Lives of Vietnamese workers and students in Japan

Data from 2022 show that Vietnam is second in the world for the number of international students studying there.

This proves that this is still a country that receives the trust of many Vietnamese people for their children to study after the US and some other English-speaking countries.

Statistic 2023 shows that the number of Vietnamese workers accounts for a quarter of the number of workers in Japan.

It proves that in the eyes of the Japanese, Vietnamese workers are very popular due to their friendly, gentle and hard-working personalities.

On the contrary, like the labor force in Taiwan, Japan is a country that Vietnamese people are very interested in exporting labor because of the salary as well as the benefits they bring to the workers.

How to make remittances from Japan to Vietnam

Transfer money from Japan to Vietnam by banks

You can use many different banks to send money from Japan to Vietnam to the recipient. However, in order for you to use this method, the following conditions must be met:

– Firstly, people in Vietnam must have a bank account in the country.

– Second, depositors through banks in Japan must have a valid residence card or passport.

– Third, when sending money, the sender needs to fully declare the recipient's information such as: account name, ID number. Information about the recipient's address, phone number, bank name, account number, bank identification number.

– Fourth, the recipient in Vietnam must have full identification documents such as ID card, worker identification card, or passport.

– Fifth, the deposit must be converted into USD.

Send money to Vietnam by post

This form appears to be quite old, yet it is still used today when immigrants from countries other than Japan—including Korea, Australia, the United States, Taiwan, and others—want to send money to Vietnam.

For these expats, the post office continues to be the most secure mode of delivery, and many individuals of all ages use it to send items overseas or receive items from home.

One point worth noting in this way of transferring money is that you must convert Japanese Yen to USD before transferring it to a Vietnamese bank or Vietnam post office.

Send money to Vietnam through some money transfer companies

• Transfer money to Vietnam via DCOM

DCOM is a money transfer service provided by D.COMMUNICATION company, and licensed by the Hokuriku Financial Bureau, Japan to operate in the field of money transfer since 2011.

Up to now, using this service to transfer money has been quite familiar to Vietnamese students and workers in the country of cherry blossoms when they want to transfer money to Vietnam.

• Transfer money to Vietnam via MoneyGram (FinFan partner)

MoneyGram is the second largest money transfer service provider in the world. It offers domestic and international money transfer, bill payment, mobile recharge and prepaid card recharge services for people who do not have a bank account or want to use an alternative service.

The partnership enables FinFan customers to connect to the MoneyGram platform and distribution network in over 200 countries and territories. The connection will especially benefit consumers who send money to Vietnam worldwide.

Faster, safer, and cost-effective is what should be said about this real-time money transfer service platform. Through a single API payment gateway, every transaction of the customer is processed faster and more efficiently. Besides, it also helps FinFan-MoneyGram maintain a low cost of transactions as well as improve the customer experience.

With the support of the FinFan's Ewallet Aggregator product, senders can send money from the Japan directly to popular e-wallet accounts in Vietnam, such as MoMo, ZaloPay, VNPay, etc., in just three simple steps.

If the recipient does not have an e-wallet account, the sender can choose the cash-pickup method at a bank or send the money directly to the recipient's bank account in Vietnam (if the recipient has a bank account).

Send money to Vietnam through some online remittance services

• Using WorldRemit to send money to Vietnam

WorldRemit is a digital money transfer service with a mission to make money transfers faster, more transparent, and affordable. As a digital service with no physical presence, they can reduce operating costs so that your senders benefit from it.

Over the last ten years, WorldRemit has grown to serve 5.7 million customers, using 70 different currencies, across 130 countries worldwide. With various options for sending transfers to loved ones overseas, including bank transfer, mobile money, and cash pickup, WorldRemit’s made it convenient for you to send money, and for your family and friends to receive it. 95% of our transfers are ready in minutes, and with more than 125,000 five star reviews, you can be sure that your money is in safe hands.

With the support of the FinFan's Ewallet Aggregator product, senders can send money from the United Kingdom directly to popular e-wallet accounts in Vietnam, such as MoMo, ZaloPay, VNPay, etc., in just three simple steps.

If the recipient does not have an e-wallet account, the sender can choose the cash-pickup method at a bank or send the money directly to the recipient's bank account in Vietnam (if the recipient has a bank account).

This article was curated and authored by FinFan's market research and development team, alongside our marketing department.

About FinFan

FinFan is a cross-border embedded financial services company that focuses on mass disbursement, fund collection, card processing, IBAN, and digital APMs solutions, which can provide valuable input and integration on and for the same.

FinFan is already integrated with almost the world's well-known MTOs, PSPs, switch, and core fintech platforms such as Money Gram, Thunes, Qiwi, Remitly, World Remit, Bancore, PaySend, Terrapay, Ria Money Transfer (Euronet), Dlocal, Ripple, TripleA, FoMo Pay, Wings, etc.

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