In international transactions, Money transfer fee from abroad to Vietnam is one of the factors that businesses should not ignore. Understanding these fees will help businesses proactively control costs, optimize resources and ensure money is transferred quickly and accurately. Let's join SeABank Explore the details of the fees to be aware of in the article below.

What is the best way to transfer money from abroad to Vietnam?

Remittance from abroad to Vietnam is the process of receiving and processing money sent from organizations or individuals abroad to businesses in Vietnam. This money can come from many different sources such as:

Revenue from export of goods and services:This is the main source of revenue for many businesses when selling their products or providing services to customers abroad.
Foreign Direct Investment (FDI): FDI is the amount of money that foreign investors pour into Vietnam to establish new companies, buy controlling shares of existing companies, or expand business operations.
Foreign Direct Investment (FPI): Indirect investments can come from investment funds, foreign individuals, stocks, bonds or other financial instruments of Vietnamese enterprises.
Contributed capital, loans from foreign partners: These can be financial partnerships to develop business, expand markets or invest in specific projects.
Proceeds from the transfer of assets, technology or intellectual property rights to foreign partners.

Remittance from abroad to Vietnam is a common transaction for businesses.

Types of transfer fees for sending money from abroad to Vietnam

When making or receiving international money transfers, normally,theThe business will incur a fee for the banks to process the transaction and transfer the money into the business's account.Understanding these fees for transferring money from abroad to Vietnam will help businesses be more proactive in managing their finances and optimizing profits.

Below are common fees that your business should be aware of:

Transaction Fee

This is the most basic fee for transferring money from abroad to Vietnam that banks or financial institutions charge to process an international money transfer transaction. The transaction fee covers the technical processing, information verification and ensuring that the money is transferred to the correct recipient. This fee can be calculated in many forms such as:

Percentage:A certain percentage of the total amount transferred/received (e.g. 0.03% of the amount received). This fee usually has a minimum and maximum.
Fixed rate:A fixed fee per transaction, regardless of the deposit amount (e.g. $5/transaction).

Transaction fees may be borne by the sender, the receiver, or shared between the two parties, depending on the initial agreement and bank policy.

Fixed fee is the basic fee The bank will collect when processing international money transfers.

Feeadjust/check/reverse money transfer order

These are fees incurred when there is a request to change, look up or cancel an initiated money transfer order. These fees are not the default fees for all transactions and only arise in special cases. Specifically:

Adjustment fee:Occurs when there is a request to change the information of a money transfer that has been sent. Adjustments are often necessary when there is an error in the data entry process or when there is a change in the transaction agreement.
Inspection fee:Arising when the sender or recipient requests the bank to look up details about a particular money transfer transaction.
Money transfer order withdrawal feeOccurs when the sender wants to cancel (recall) a money transfer order that has been made..

Which bank should businesses choose to save on money transfer fees from abroad to Vietnam?

When receiving international cash flows, choosing the right bank not only saves costs but also ensures operational efficiency. Therefore, businesses should consider the following factors to optimize costs and efficiency:

Wide network of agents helps with quick payment, no intermediary fees.
Support receiving a variety of foreign currencies, flexible in payment, suitable for many international partners.
Competitive, transparent and clear fees help businesses proactively control costs.
Fast - accurate - secure transaction processing, meeting international standards.

With the above criteria, SeABank offers optimal solutions through the product "Receive money transfers from abroad", helping businesses receive international cash flows quickly, safely and efficiently at competitive fees.

This product of SeABank integrates many outstanding utilities, meeting the maximum needs of businesses:

NetworkWidespread correspondent banking: SeABank is currently cooperating with hundreds of global correspondent banks.
Receive payments in a variety of currencies, no currency restrictions, thereby helping businesses be flexible in transactions with international partners without worrying about currency conversion.
Extremely competitive service fees, significantly reducing the cost of transferring money from abroad to Vietnam compared to the general level, helping to optimize the cost of receiving money from abroad.
With modern technology system and professional business process, your business's money transfer orders will be processed.timely and accurate processing, ensuring high securityfor all transactions.

Optimize money transfer fees from abroad to Vietnam with superior service from SeABank

Conclude

With the above sharing, we hope that your business has a clearer view of the types of Money transfer fee from abroad to Vietnam as well as the importance of choosing the right bank. Understanding each fee not only helps businesses manage their finances more effectively, but also ensures that international transactions run smoothly and safely.

To learn more and register for the service of Receiving money transfers from abroad at SeABank, please visit the website: https://www.seabank.com.vn/doanh-nghiep or contact Hotline 1900.599.952 (KHDN).