Because banks shouldn't hide your money in spreads.
We expose the real cost of every transfer — the spread, the fees, the delivery time — and rank providers by what actually lands in your recipient's account. No sponsored ordering. Ever.
Sending $1,000 to Vietnam
Hover any card to see exactly what it costs you.
7-Day Exchange Rate History
vs Traditional Banks
You save up to $75
on a CAD 1,000 transfer
Wise
BEST RATEBank of America
+5% markup + $35 wire fee
Wells Fargo
+4.5% markup + $25 wire fee
Sending money from Canada to Vietnam is one of the most common remittance corridors in Southeast Asia, with millions of dollars flowing between Vietnamese Canadian families every month. The difference between using a bank and a digital provider can easily exceed $200 per year on regular transfers. This guide breaks down exactly where fees hide and which services deliver the most VND per Canadian dollar.
Our verdict: Use Wise or Remitly for the best CAD to VND rates — they consistently beat Canadian banks by 3–8% on exchange rates and show you exactly what your recipient gets before you send.
Who Sends Money from Canada to Vietnam?
Canada is home to over 240,000 Vietnamese Canadians, making the CAD to VND corridor one of the most active remittance routes in Southeast Asia. Most transfers originate in Ontario and British Columbia — workers supporting aging parents back home, students paying tuition, or investors managing property. Vietnam's remittance inflows exceed $14 billion annually, representing roughly 6% of GDP, and Canadian senders are a meaningful slice of that flow. The demand is consistent, the stakes are real, and the gap between a smart transfer and a careless one can cost hundreds of dollars a year.
The Fee Trap: Exchange Rate Markup vs. Flat Fees
Most people fixate on the transfer fee — the $5 or $10 charge printed upfront. That's a distraction. The real money vanishes in the exchange rate markup. Canadian banks typically build a 3–5% spread above the mid-market rate — the real rate you see on Google. On a $1,000 CAD transfer, that's $30–$50 gone before your recipient sees a single dong. Digital providers are built differently: Wise shows you the mid-market rate and charges a small, explicit fee. Remitly and WorldRemit display the exact VND amount your recipient receives before you confirm. Always compare the total amount delivered, not just the fee line.
Digital Providers Beat Banks by 3–8% — Every Time
RBC, TD, and Scotiabank will send your money to Vietnam. They'll also charge a wire fee of $25–$45 and mark up the exchange rate by 3–8%. On a $3,000 CAD transfer, that spread swallows $90–$240. Digital providers consistently outperform on this metric.
- Wise — Best overall for transparency. Mid-market rate, low percentage-based fee, reliable 1–2 business day delivery.
- Remitly — Strongest for speed. Express delivers in minutes; Economy saves money when your recipient can wait 3–5 days.
- WorldRemit — Solid mobile wallet and cash pickup support, useful for recipients outside major urban centers.
- Revolut — Excellent if you already hold CAD in the app; watch for the weekend exchange rate surcharge.
Speed Options: When Fast Is Worth It and When It Isn't
Remitly's Express tier and WorldRemit's instant option deliver in under an hour — right choice when a family emergency hits. But urgency costs money. Economy transfers from Remitly take 3–5 business days and offer a meaningfully better rate. For predictable monthly support transfers, schedule on the economy tier and pair it with rate alerts. Wise hits the sweet spot most of the time: competitive rates with 1–2 day delivery that's fast enough for almost any non-urgent need.
Vietnamese Regulations: What Your Recipient Needs to Know
Vietnam's State Bank permits incoming remittances up to $1,000 per month without any documentation requirement. Send more than that, and the recipient may need to declare the source of funds at their bank — a reporting formality, not a hard block, but worth flagging in advance. The two largest receiving banks in Vietnam are Vietcombank and BIDV, and virtually every major digital provider supports direct deposit to accounts at both. For recipients in Ho Chi Minh City or Hanoi, there's an even smoother option: Remitly and WorldRemit can deliver directly to ViettelPay or MoMo mobile wallets, bypassing the bank branch entirely.
Practical Tips to Maximize Every Transfer
- Transfer mid-week. CAD/VND spreads tend to be tighter Tuesday through Thursday — avoid Friday afternoon and weekends when liquidity thins.
- Set rate alerts. Wise, Remitly, and Revolut all offer notifications. A 0.5% improvement on a $2,000 CAD transfer is $10 captured for free.
- Mind the documentation threshold. If you're sending $1,200 CAD, consider timing transfers across the monthly boundary to keep things simple for your recipient.
- Compare at transfer time, every time. Provider rates shift daily. Last month's winner may not win today — always run the comparison fresh before confirming.
- Lock in rates on large transfers. Wise lets you hold CAD and convert when the rate peaks, which is valuable for bigger, irregular payments.
Frequently Asked Questions
What is the best CAD to VND exchange rate?
The best rates come from digital providers like Wise and Remitly, which use or closely track the mid-market rate rather than padding a hidden markup. Canadian banks typically offer 3–8% worse rates than these services, which adds up fast on regular transfers.
How long does it take to send money from Canada to Vietnam?
Transfer times range from under one hour with Remitly Express or WorldRemit's instant option to 3–5 business days on economy tiers. Wise typically delivers within 1–2 business days and offers a good balance of speed and competitive rates.
What are the fees for sending money from Canada to Vietnam?
Digital providers like Wise charge a small transparent fee — typically 0.5–1.5% of the transfer amount — while banks charge $25–$45 in wire fees plus a hidden exchange rate markup of 3–8%. Always compare the total VND your recipient receives, not just the upfront fee.
Is it safe to use online money transfer services?
Yes — providers like Wise, Remitly, and WorldRemit are regulated financial institutions in Canada and operate under strict anti-money laundering rules. They use bank-grade encryption and are trusted by millions of senders worldwide for international transfers.