Can I send money to Vietnam through Wise?

Transferring Funds to Vietnam: A Transparent Approach with Wise

Transferring funds internationally can often be a complex and opaque process, but Wise aims to simplify and demystify this experience. When sending money to Vietnam through Wise, users can expect a transparent and straightforward fee structure that provides complete clarity before finalizing the transaction.

Fixed and Percentage-Based Fees

Wise employs a hybrid fee structure that combines a fixed fee with a modest percentage-based charge. For transfers from the United States to Vietnam, Wise charges a fixed fee of $7.79 and a 0.54% fee on the converted amount.

Total Cost Displayed Upfront

Unlike traditional banks, Wise prides itself on its transparency. The total cost of the transfer, including both the fixed fee and the percentage-based charge, is clearly displayed before the sender finalizes the transaction. This eliminates any hidden expenses or surprises.

Example Calculation

To illustrate the fee structure, consider a transfer of $1,000 from USD to Vietnamese Dong (VND). The total fee would be $7.79 (fixed fee) + $5.40 (0.54% of $1,000) = $13.19.

Benefits of Transparency

The transparent fee structure offered by Wise provides several benefits to senders:

• Accurate Budgeting: Senders can precisely determine the total cost of the transfer before proceeding, ensuring proper budgeting and financial planning.
• Cost Comparison: By knowing the exact fees involved, senders can compare different providers and choose the most cost-effective option for their needs.
• Trust and Confidence: Transparency instills trust and confidence in the transfer process, as senders have a clear understanding of the costs involved.

Commitment to Simplifying International Transfers

Wise’s transparent fee structure exemplifies its commitment to simplifying international money transfers. By providing upfront clarity on costs, Wise empowers senders to make informed decisions and experience a seamless transfer process.