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 SGD 1,000 transfer
Wise
BEST RATEBank of America
+5% markup + $35 wire fee
Wells Fargo
+4.5% markup + $25 wire fee
Sending SGD to VND is one of Southeast Asia's most active remittance routes, but banks quietly mark up the exchange rate by 3–5%. This guide walks you step by step through choosing a provider, avoiding hidden fees, and delivering funds to bank accounts or mobile wallets in Vietnam.
Our verdict: Use a digital provider like Wise or Remitly with the economy speed option to capture the mid-market rate and save 3–8% versus your Singapore bank.
Understanding the Singapore to Vietnam Corridor
The SGD to VND route is one of Southeast Asia's busiest remittance corridors, driven by Vietnamese workers in Singapore's construction, hospitality, and shipyard sectors sending earnings home, alongside expatriates paying for property, family support, or business operations. Vietnam's remittance inflows exceed $14 billion annually, representing roughly 6% of GDP, making these transfers a critical pillar of the local economy. Before you send your first transfer, gather three things: the recipient's full legal name (matching their ID exactly), their bank account number or mobile wallet ID, and a clear idea of how much VND they need to receive.
Step 1: Identify Hidden Fees Before You Compare
Most first-time senders look only at the upfront transfer fee and miss the larger cost: the exchange rate markup. Follow this process to find the real price.
- Open Google and search "SGD to VND" — note the mid-market rate (e.g., 1 SGD = 18,950 VND).
- Open the provider's quote page and enter the same amount (e.g., 1,000 SGD).
- Compare the VND your recipient receives against the mid-market calculation.
- The difference, plus the visible flat fee, is your true total cost.
Banks typically hide a 3–5% markup inside the rate while advertising "low fees," which costs far more than a transparent S$5 flat fee on a fair rate.
Step 2: Choose a Digital Provider Over Your Bank
Digital specialists like Wise, Remitly, Revolut, and WorldRemit consistently beat traditional Singapore banks by 3–8% on the SGD/VND pair because they use the mid-market rate and charge a transparent fee instead of marking up the currency. To pick the right one, do this:
- Run the same transfer amount through at least three providers on the same day.
- Check delivery method — most digital providers can deliver directly to accounts at Vietcombank and BIDV, the two largest receiving banks in Vietnam.
- Confirm the provider supports your recipient's preferred channel: bank deposit, cash pickup, or mobile wallet top-up.
- Verify the provider is licensed by the Monetary Authority of Singapore (MAS).
Step 3: Pick the Right Speed for the Right Price
Speed costs money, so match the option to the situation. For emergencies — medical bills, urgent family needs — use instant transfer, which delivers within minutes for a premium fee of S$3–8. For routine support, salary, or savings, choose the economy option: it takes 1–2 business days but can save you 30–50% on the fee. Schedule large transfers (property deposits, tuition) on a Monday or Tuesday morning Singapore time so they clear before the weekend, and avoid initiating transfers on Vietnamese public holidays like Tết, when banks pause processing.
Step 4: Stay Within Regulatory Limits
Vietnam's State Bank allows recipients to receive up to $1,000 per month without documentation; anything above that threshold requires a declared source of funds, such as an employment contract, invoice, or tax record. Plan accordingly:
- For monthly family support under $1,000, no paperwork is needed on the receiving side.
- For larger one-time transfers, ask your recipient to prepare proof of source before the funds arrive, otherwise the bank may hold the deposit.
- On the Singapore side, transfers above S$5,000 will trigger MAS-mandated KYC checks — upload your NRIC and proof of address in advance to avoid delays.
Step 5: Use Mobile Wallets for Smaller Amounts
If your recipient lives in Ho Chi Minh City or Hanoi, you can deliver funds directly to a ViettelPay or MoMo mobile wallet, which is faster and cheaper than a bank deposit for amounts under 5 million VND. Confirm the recipient's wallet phone number is registered to their legal name, then select "mobile wallet" as the delivery method in your provider's app.
Step 6: Lock In Better Rates Over Time
Set up rate alerts in Wise or Revolut so you get notified when SGD/VND crosses your target. Watch the rate for a week before any large transfer to spot the trend, and consider splitting big amounts across two or three days to average out volatility. Save your recipient's details after the first successful transfer — every subsequent send takes under two minutes.
Frequently Asked Questions
What is the best SGD to VND exchange rate?
The best rate is the mid-market rate you see on Google, which digital providers like Wise and Revolut pass through with only a small transparent fee. Banks typically offer 3–5% worse rates because they bake their margin into the conversion.
How long does it take to send money from Singapore to Vietnam?
Instant transfers to Vietcombank, BIDV, or MoMo wallets arrive within minutes for a small premium. Economy transfers take 1–2 business days and cost significantly less, making them ideal for non-urgent payments.
What are the fees for sending money from Singapore to Vietnam?
Digital providers charge a flat fee of roughly S$2–8 plus a small percentage spread, so a S$1,000 transfer typically costs under S$10 in total. Traditional banks often charge S$20–30 in visible fees plus a hidden 3–5% exchange rate markup.
Is it safe to use online money transfer services?
Yes, provided the service is licensed by the Monetary Authority of Singapore (MAS) and uses encrypted platforms, which all major providers like Wise, Remitly, Revolut, and WorldRemit do. Always verify the recipient's name and account number before confirming the transfer.