How to send money from the UK to Vietnam?

The United Kingdom is a country with a long history in Europe and a technological powerhouse of the world centuries ago.

At the same time, this country is also home to more than 50,000 Vietnamese people studying and working here.

So how can Vietnamese people living and working in the UK send remittances to their families? Let's find out with FinFan through the following article.

The traditional way Vietnamese people often use to transfer remittances to Vietnam.

Ask relatives to bring remittances home or directly bring cash back to Vietnam.

On Tet holidays or opportunities to visit their homeland, Vietnamese people living and working in the UK often bring money to their relatives back home or ask relatives or friends who can return to their hometown to bring money for their loved ones.

Remittance through the bank's SWIFT system.

To be able to implement this measure, Vietnamese people need to have UK citizen IDs and accounts at one of the famous banks in the UK.

Once you have the necessary documents and a bank account, go to the nearest bank branch and ask the bank staff about cross-border money transfers. Then fill out the form at the request of the bank and complete the procedure to transfer the remittance to the bank in Vietnam by sending money and paying the fee.

Remittances using international money transfer services.

Currently, international money transfer services such as Western Union, MoneyGram, etc. are increasingly known by consumers around the globe. Using these services is quite convenient in that there are many agents and transaction points around the world, making it easy for users to choose the most suitable place to transact.

Besides, the time to transfer money through the above-mentioned international money transfer services is also very fast, making it convenient for users to transact.

Some ways to rely on fintech technology to transfer remittances to Vietnam from the UK

Using Remitly (FinFan’s partner) to send money from the UK to Vietnam

Remitly 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.

Nowadays, a person just needs to pick up the phone and perform 3 steps to be able to transfer money from the UK to Vietnam in the fastest and most convenient way.

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).

Using WorldRemit (FinFan’s partner) to send money from the UK to Vietnam

WorldRemit was founded by a student in London, Ismail Ahmed, who has a hometown in East Africa. Having had a huge problem transferring remittances to her family at a rather expensive cost, Ismail decided to establish WorldRemit in 2010 to support students with similar circumstances everywhere in the world.

Over the ten years, their business 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, they’ve made it convenient for you to send money, and for your family and friends to receive it. 95% of their transfers are ready in minutes and with more than 125,000 five star reviews.

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).

Using PaySend (FinFan’s partner) to send money from the UK to Vietnam**

Paysend is the next-generation payment platform enabling customers and businesses all around the world to pay, hold and send money online anywhere, anyhow and in any currency.

Paysend is based in the UK with a true global outreach and it was created in April 2017 with the clear mission to change how money is moved around the world; it is the first payment disruptor to introduce global card-to-card transfer.

In short, remittances from the UK to Vietnam are growing and moving towards technology day by day. Currently, we no longer need to go to the bank or the cross-border money transfer service to send money in person, but can sit at home and with a few steps, the deposit will be automatically transferred to the recipient's bank account or e-wallet.

Using Ria Money Transfer (FinFan's partner)

With a worldwide network of 507,000 locations in 160 countries, Ria continues to make the world a smaller place by closing distances between families and their loved ones through world-class money transfers. They also offer bill payment, mobile top-ups, prepaid debit cards, check cashing, and money orders. With every service that we provide, we work hard to provide the most positive experience possible.

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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