How to Receive Money From Abroad in Vietnam: 6 Methods and How to Choose

There are six main groups of methods for receiving money from abroad in Vietnam: bank transfers over SWIFT, international money transfer services, e-wallets, online transfer apps, platforms built for sellers and freelancers, and platforms that issue an identity descriptor for receiving foreign currency. Choosing the right one depends on the nature of the money, not on the fee.

Two things are widely misunderstood. First, not every amount arriving from abroad is tax-exempt, and the rules on this changed on 1 July 2026. Second, Vietnam does not limit the amount you can receive, although the opposite claim circulates widely.

This article sets out all six methods, explains who each one suits, what documents to prepare, and what the current tax rules say about them.

6 Ways To Receive Money From Abroad In Vietnam

These six groups are not mutually exclusive. Many people use two or three in parallel for different kinds of money.

First Step: Is Your Money A Family Remittance Or Business Income?

This question has to be answered before "which method", because it determines your tax obligations, the documents you need to prepare, and even the channel you should use.

Money sent home by a relative settled overseas to their family in Vietnam is a family remittance. A foreign client paying you for a website you designed is not. That is income from providing a service. Both may travel through the same transfer channel and land in the same account, but their legal nature and tax treatment differ entirely.

This is where many freelancers and cross-border sellers get caught out. Having heard that remittances are tax-exempt, they assume nothing arriving from abroad needs to be declared. In practice, income from supplying goods and services to foreign clients is taxable income, regardless of the channel it arrives.

The Six Methods In Detail

1. Bank transfer over SWIFT

The sender visits a bank abroad and transfers to your account through the SWIFT network, using the SWIFT/BIC code of the receiving bank in Vietnam. Suits large amounts and transactions backed by a contract.

What to prepare: the account holder's name exactly as it appears on your identity document, the account number, the SWIFT code of the receiving bank, and documents evidencing the purpose if requested.

Things to note: Processing usually takes longer than other channels. The timeframe banks commonly publish is around 1–3 business days, varying from bank to bank, and intermediary bank charges may arise.

2. International money transfer services

Networks such as Western Union, MoneyGram, and Ria let the sender pay in at a location abroad, after which you collect at a bank counter, a domestic agent, or into your account. Suits money from relatives when speed matters.

What to prepare: an identity document and the transfer reference number provided by the sender.

Things to note: fees are usually tiered by amount. If you collect in cash, the money is converted at the moment of collection. Fee schedules and rates are published by each provider, so check them at the time of the transaction.

3. E-wallets

Some Vietnamese e-wallets offer an international receiving feature through partnerships with money transfer organizations. Suits small amounts to be received quickly and used straight away for domestic spending.

What to prepare: a wallet account that has completed identity verification.
Things to note: money is usually converted into VND on credit, so the balance is recorded in VND. Limits and fee policies vary by wallet and should be checked at the time of the transaction.

4. Online transfer apps

Apps such as Wise and Remitly let a sender abroad do everything from their phone, with the money arriving directly in your bank account. Suits senders who already use these apps and want to follow the progress themselves.

What to prepare: accurate bank account details.
Things to note: the transaction is initiated on the sender's side; country coverage and supported currencies differ from app to app.

5. Platforms for sellers and freelancers

PayPal, Payoneer, and similar platforms let you receive money from international clients or from e-commerce marketplaces into a balance on the platform, which you then withdraw to your bank. Suits online sellers and freelancers with many individual clients.

What to prepare: a verified account and bank details for withdrawals.
Things to note: the real cost sits in both the transaction fee and the exchange rate applied on withdrawal, so it should be calculated as a total rather than judged on one figure. Withdrawal timings and dispute-handling policies are set by each platform, so review the terms of use before you start.

6. Platforms with an identity descriptor for receiving foreign currency

This is a newer group and is not yet as widely used as the five above. You are issued an identity descriptor to share with international clients. Incoming money is recorded on the platform together with sender details and status, and you then initiate a transfer to your own bank. Suits people receiving regularly from many clients who need reconciliation data for accounting. What to prepare: completed individual or business identity verification (KYC/KYB) and documents for transactions whose purpose needs clarifying

What to prepare: completed individual or business identity verification (KYC/KYB) and documents for transactions whose purpose needs clarifying
Things to note: there is an initial verification step, so you cannot receive it on day one the way you can with an e-wallet

Tax And Amount Limits: Two Things People Get Wrong

New tax rules in force from 1 July 2026

This is an important change, and most articles online still cite the old rules.

The Personal Income Tax Law 2025 (Law No. 109/2025/QH15) took effect on 1 July 2026. Decree No. 253/2026/ND-CP, issued on 30 June 2026 and setting out details and guidance for implementing the law, also came into force on 1 July 2026, listing 22 categories of income exempt from personal income tax. Within the investment and finance group, the exempt items include interest on government bonds and local government bonds, deposits at credit institutions, life insurance contracts, and remittances.

What matters is the scope of the remittance exemption. Under the current guidance, this covers money an individual receives from abroad from a relative who is a Vietnamese national settled overseas or a Vietnamese national working on assignment or studying abroad and sent to a relative in Vietnam; or money received from a relative who is a foreign national and which meets the conditions encouraging transfers into the country set by the State Bank of Vietnam. The basis for determining the exemption is documentation evidencing the source of funds received from abroad, together with disbursement records from any paying organization.

What this means in practice: money sent by relatives falls within the exemption, but money a foreign client pays you for goods or services does not. That is income from business or from wages and salaries and must be declared as required, whichever channel it arrives through.

Because the law has only recently taken effect and its application can differ case by case, check your specific situation with the tax authority or a tax adviser.

Because the law has only recently taken effect and its application can differ case by case, check your specific situation with the tax authority or a tax adviser.

Is there a USD 10,000 limit per transfer from abroad?

Under the current rules, no. This is a common misunderstanding.

There is no limit on the amount a recipient can receive from abroad in Vietnam. The USD 10,000 figure people refer to is a reporting threshold in the sending country or the threshold for declaring foreign currency in cash at customs when crossing a border, not a limit on a single transfer into Vietnam.

What actually happens with a large amount is stricter documentation, not a block. Banks and processing institutions are obliged to establish the source and purpose of a transaction under anti-money-laundering rules.

Documents To Prepare, And The Mistakes That Get Transactions Held

The documents you need depend on the type of money:

Money sent by relatives: an identity document; if you need to evidence the tax exemption, add documents showing the family relationship and the transfer records.
Service fees or freelance income: the contract or service agreement, the invoice issued to the client, and evidence that the work was delivered.
International sales revenue: order details, the commercial invoice, and, for physical goods, the shipping documents.
Settlement of an export contract: the foreign trade contract, commercial invoice, customs declaration, and transport documents.

The four mistakes that hold transactions up the longest, in order of how often they occur:

The recipient name does not match between the transfer instruction and the identity document, usually because of abbreviations, missing diacritics, or a reversed name order.
The transfer reference is generic and does not convey the purpose of the money.
Being unable to answer the questions the bank or the counter staff need to ask about the money, or giving vague answers that leave the bank with a mistaken picture of the transaction.
No documents are ready when they are requested, so you have to go back to the client, adding several days.
Many small amounts arriving continuously from different sources with no supporting records, which invites a review.

Which Method Suits Your Situation?

A general rule: the more closely the money is tied to business activity, the more you should favor a channel that produces good reconciliation data, even if that channel is a few hours slower.

Where Does The IRID Platform Fit?

IRID belongs to the sixth group above.

IRID (Inbound Routing & Identity Descriptor) is a platform for receiving international funds developed by FinFan. You register an IRID account, complete identity verification, receive an identity descriptor to share with international clients, track each incoming amount on the dashboard, and then initiate a transfer to your own bank. Conversion into VND happens at the point you initiate that transfer.

On the division of roles: FinFan provides the technology platform where you create the identity descriptor, view your balance, initiate instructions, and export reconciliation reports. Funds are held and disbursed by FinFan's international financial partners within the scope of their own operations. IRID operates on the infrastructure of these partners.

IRID handles inbound funds only, receiving foreign currency from abroad into Vietnam, and is not used to send money out of the country. If your need is to send money abroad, this is not the right tool.

What sets it apart from methods 2, 3, and 4 is control. With those, you wait for the money and cannot influence the process. With IRID, you create the identity descriptor yourself, share it with clients yourself, follow the status of each amount, and decide for yourself when to move the money to your bank.

Frequently Asked Questions (FAQs)

Is money received from abroad in Vietnam taxable?

It depends on the nature of the money. Remittances sent by relatives abroad fall within the categories of income exempt from personal income tax. Money a foreign client pays you for goods or services, by contrast, is taxable income and must be declared, whichever channel it arrives through.

Is there a limit on how much I can receive from abroad?

No. What changes with the value is the level of documentation required: the larger the amount, or the less clear its purpose, the more likely you are to be asked for records evidencing its source. The USD 10,000 figure is explained in the section above.

How long does money from abroad take to arrive?

It depends on the channel the sender uses, the currency, and whether additional documents are needed. SWIFT transactions typically take around 1–3 business days depending on the bank, while some other channels are faster. Ask your provider about the timeframe for your specific flow.

How should a freelancer receive money?

Favor a channel that produces clear documentation and transaction history, since freelance income is taxable and you will need records when you declare it. Platforms for freelancers and platforms with an identity descriptor meet this requirement.

What do I need to bring to the bank to collect money?

At minimum, a valid identity document. If you are collecting through an international money transfer service, you also need the transfer reference number provided by the sender. For large amounts or anything related to business activity, have the relevant contract and invoice ready.

Conclusion

None of the six methods above is best in absolute terms. The right one depends on whether your money is a family remittance or business income, how often you receive it, and whether you need reconciliation data.

Three things to do before choosing: identify the nature of the money correctly, prepare the matching set of documents, and check your tax obligations against the rules in force from 1 July 2026. Those three steps head off most of the trouble before it starts.

Read more: How to Receive Money from China to Vietnam?

Get in touch with FinFan for guidance on fast, secure financial solutions.

Website: https://finfan.io
Email: support@finfan.vn
Phone: +84 2866.853.317

Disclaimer:

IRID is a technology platform developed by FinFan (Nhat Phuong JSC — Best Way Corporation) that enables individuals and businesses in Vietnam to receive and manage international funds. IRID operates on the infrastructure of international financial partners. FinFan is not a bank and does not provide deposit services.

This article is provided for general information only and does not constitute legal, tax or investment advice. The provider names mentioned are used to describe the market and do not imply any ranking or recommendation. Regulations may change; please refer to the current legal texts or consult a qualified adviser regarding your specific situation.

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