How can I send money from Vietnam to the UK?

Sending Money from Vietnam to the UK: A Simple Guide

Transferring money from Vietnam to the UK might seem daunting, but with the right approach, it’s surprisingly straightforward. This guide outlines a convenient method using Revolut, a popular digital banking app, to ensure a smooth and efficient transfer.

While numerous options exist for international money transfers, leveraging Revolut’s local account details in the UK simplifies the process significantly. This eliminates the need for complex international wire transfers and potentially reduces fees.

Here’s a step-by-step guide:

1. Obtain Recipient’s Revolut Account Details: The first step is to get the UK-based recipient’s Revolut account details. This typically includes their full name, account number (or equivalent identifier), and the Revolut sort code (if applicable). Crucially, you need the details specific to their UK pound (GBP) account, not their Vietnamese Dong (VND) account if they have one. Confirm these details are accurate to avoid delays or errors.

2. Initiate the Transfer from your Vietnamese Bank: Log into your online banking account with your Vietnamese bank. Locate the international transfer option, usually found under “Transfers,” “International Payments,” or a similar heading.

3. Specify Transfer Details: You’ll be asked to provide the recipient’s Revolut account details gathered in step 1. Carefully input this information, double-checking for accuracy. You will then need to specify the amount you wish to send. You can do this either in Vietnamese Dong (VND), and the bank will handle the currency conversion, or you can choose to specify the amount in British Pounds (GBP) if your bank offers that option. This latter option may offer more transparency on the exchange rate used.

4. Confirm Transaction Details: Before finalising the transfer, review all the details provided. Verify the recipient’s name, account details, and the amount. Any errors at this stage can lead to significant delays or even the failure of the transfer.

5. Complete the Transfer: Once you’re confident all the details are correct, authorize the transfer. Your bank will likely provide a confirmation number or reference. Keep a record of this for your own tracking purposes.

Important Considerations:

• Exchange Rates: Be aware that exchange rates fluctuate. Compare rates offered by your Vietnamese bank against other services to find the most favourable option.
• Transfer Fees: Your Vietnamese bank will likely charge a fee for the international transfer. Check their fee structure beforehand.
• Processing Time: International transfers take time. While Revolut typically facilitates quick transfers, the overall processing time depends on your Vietnamese bank’s processing speed. Allow for a few business days for the funds to reach the recipient’s account.
• Security: Only use secure banking platforms and ensure you are using the official website or app of your bank. Be cautious of phishing attempts.

By following these steps, you can confidently and efficiently send money from Vietnam to the UK using a Revolut account as the receiving destination. Remember to always double-check details to avoid any complications. If you have any concerns, contact your Vietnamese bank’s customer service for assistance.