Sending Money Home: Transfer Options from Japan to Vietnam
Here’s a simple, up-to-date guide to sending money from Japan to Vietnam. Learn the fastest and cheapest methods, what documents you’ll need (like My Number), how fees and exchange rates work, and the best choices for bank deposits, cash pickup, and mobile wallets.
Key takeaways
- Most expats can save by using licensed non-bank money transfer services (Wise, Seven Bank’s Western Union tie-up, SBI Remit, Xoom) instead of traditional bank wires. You’ll see clearer fees and often faster delivery.
- Wise Japan is licensed as a Type I Funds Transfer Service Provider, enabling high-value transfers with mid-market FX and transparent fees—useful if you send larger amounts.
- Cash pickup in Vietnam is available via Western Union (through Seven Bank) and MoneyGram (through SBI Remit). Bank deposits and even mobile wallets like MoMo are also supported with some providers.
- Your My Number is required by many Japanese banks and remittance services for overseas transfers. Bring it when you set up your account.
- Over ¥30 million in cross-border payments requires a report under Japan’s Foreign Exchange and Foreign Trade Act (usually handled by your bank).
- The World Bank remittance corridor page helps you benchmark total cost (fees + exchange-rate margin) for Japan→Vietnam.
Related reads on Japan Handbook: International Money Transfer Apps · Best Banks in Japan for Foreigners · Budgeting in Japan: Tips & Apps · Avoiding Common Financial Scams in Japan
How transfers from Japan to Vietnam work
Japan allows licensed banks and funds transfer service providers (FTSPs) to handle overseas remittances. Since the 2021 reform of the Payment Services Act, providers can register in three types; Type I can handle high-value remittances (cross-border caps removed for Type I if requirements are met). This change opened the door for faster, cheaper non-bank options.
In practice, you’ll choose between:
- Traditional bank wires (MUFG, SMBC, Mizuho, etc.) using SWIFT—reliable, but often pricier with sender fees, intermediary bank fees, and spreads on FX. Banks’ fee pages note that overseas bank charges can still be deducted even when you choose to pay all fees.
- Non-bank platforms (Wise, Seven Bank’s Western Union service, SBI Remit, Xoom) that show upfront pricing and often deliver funds same-day to Vietnam bank accounts, cash outlets, or e-wallets.
What documents you’ll need in Japan
- Identity + Residence card for KYC
- My Number (individual number) for international transfers with many providers (banks and remittance services explicitly require it)
- Purpose of payment (e.g., family support) if asked during setup
Banks and services state My Number collection clearly (examples: SBI Shinsei Bank, SMBC Trust Bank, Seven Bank).
Under Japan’s AML framework (Act on Prevention of Transfer of Criminal Proceeds), institutions must verify customers and track transactions. Industry guidance notes that identification may be performed for cash transfers over ¥100,000, among other situations.
If you ever send more than ¥30 million, Japan’s FEFTA requires a BOJ report—banks typically prepare it on your behalf.
Where the money can arrive in Vietnam
- Bank deposit to accounts at major banks (e.g., Vietcombank) via SWIFT or local rails. Vietcombank lists the details senders need (bank name, SWIFT code, beneficiary info).
- Cash pickup at partner counters (e.g., Western Union network via Seven Bank; MoneyGram via SBI Remit). Useful when the recipient has no account.
- Mobile wallets such as MoMo (supported by Xoom for wallet top-ups).
Cost anatomy: fees and exchange rates
The total cost = transfer fee + exchange-rate margin. The World Bank corridor tool for Japan→Vietnam shows both components so you can compare providers fairly.
Banks typically charge a sender fee, and intermediary/correspondent fees may be deducted en route; FX rates can include a margin over the market rate. Mizuho’s fee page notes that overseas charges may be taken even if the sender selects “sender pays.”
Non-bank providers usually quote one clear fee and an FX rate (some, like Wise, use the mid-market rate plus an explicit fee).
For current “best” options by cost/speed from Japan, aggregator pages and provider sites can give a snapshot, but always re-check inside each app before you send.
The main options compared
Quick comparison table
| Provider | Send from Japan | Receive in Vietnam | Typical speed | Notable points |
|---|---|---|---|---|
| Wise (Type I FTSP) | JPY from bank balance or Wise account | Bank deposit in VND | Often same-day; sometimes seconds for local rails | Mid-market FX with transparent fee; high-value capacity under Type I. |
| Seven Bank → Western Union | From a Seven Bank account/app | Cash pickup at WU locations; broad network | Minutes to same-day for cash | 24/7 application; fees vary by amount/country; convenient if you already bank with Seven Bank. |
| SBI Remit | Online/app | Cash pickup via MoneyGram; bank deposit (partners vary) | Minutes to 1–2 days | Cash pickup in USD available; cancellation fee if sender error. |
| Xoom (PayPal) | From Xoom account (fund via card/bank) | Bank deposit; MoMo & VNPT Pay wallets; cash pickup; door-to-door in select areas | Minutes to 1–2 days | Useful when recipient prefers wallet or home delivery. |
| Major Japanese banks (MUFG/SMBC/Mizuho) | At branch/online | Bank deposit via SWIFT | 1–3 business days typically | Robust but fees + FX margin + intermediary charges can add up. |
Always confirm the latest fees and delivery times in the app before sending; promotions and network conditions change.
Step-by-step: the cheapest route for most expats
- Open a non-bank transfer account (e.g., Wise Japan). Complete KYC and register My Number.
- Compare total cost (fee + FX margin) using the World Bank corridor page, then check the live quote in your chosen app.
- Fund in JPY from your Japanese bank to the provider and send to the recipient’s VND bank account in Vietnam. Wise often arrives same-day and shows an exact delivery estimate.
- If your recipient needs cash, use Seven Bank→Western Union or SBI Remit→MoneyGram cash pickup.
- If your recipient prefers e-wallet, send to MoMo via Xoom.
Internal reads you may like: International Money Transfer Apps · Using Your Foreign Credit Card in Japan
When a bank wire makes sense
- Large one-off amounts (e.g., a home purchase): Your bank can support supporting documents and handle FEFTA reporting (≥¥30,000,000) automatically.
- Corporate or payroll purposes: Company policies may require SWIFT with specific invoice notes or GPI tracking (Vietnamese banks like Vietcombank support SWIFT GPI).
That said, always compare—to avoid paying extra intermediary fees and FX markups unknowingly.
Vietnam receiving tips
- Bank info: Get the exact beneficiary name and account number your recipient uses. Vietcombank’s guidance shows the SWIFT details and what to pass to the sender’s bank.
- Cash pickup: Remind your recipient to bring ID and the MTCN (or MoneyGram code). Seven Bank and SBI Remit outline the process.
- Mobile wallet: For MoMo, ensure the wallet is KYC-verified; some partner documentation references SBV KYC requirements for wallet remittances.
Fees by method at a glance
| Method | What you pay | Pros | Watch-outs |
|---|---|---|---|
| Non-bank transfer to VND account | Flat/percentage fee + transparent FX margin | Often cheapest; fast; app tracking | Per-transaction limits (provider-specific) |
| Cash pickup | Flat fee + FX margin | No bank account needed | Pickup hours/ID; USD cash may be available only at select counters |
| Bank wire via SWIFT | Sender fee + intermediary fees + FX spread | Works for large or formal payments | Intermediary charges may be deducted even with “sender pays”; slow on weekends/holidays |
Safety, limits, and compliance
Japan side
- Providers must verify identity under APTCP; banks and industry groups outline verification for cash transfers over ¥100,000 and other cases.
- My Number registration is widely required for outward remittances (examples: SBI Shinsei, SMBC Trust Bank, Seven Bank).
- High-value FTSPs (Type I) can send large amounts (cross-border cap removed per PSA reform). Licenses are published and major players (e.g., Wise, Nium) hold Type I permissions.
- Outbound ≥¥30 million requires a FEFTA report (BoJ). Banks generally file for you.
Vietnam side
- Bank deposits and cash pickups are standard; e-wallet credit (e.g., MoMo) is supported by some international providers.
- Vietnam’s foreign-exchange rules evolve; SBV issues circulars managing FX transactions, and banks publish fee/receiving guidance. Check current bank instructions before a large transfer.
Provider notes and “best-use” cases
Wise Japan
Best for: Transparent pricing and mid-market FX; frequent small/medium transfers; larger amounts via Type I license capacity.
Why it works: Japan Type I FTSP authorization and local rails in many countries keep costs down and delivery fast.
Seven Bank → Western Union
Best for: Cash pickup convenience when the recipient lacks an account; 24/7 application through the Seven Bank app.
SBI Remit
Best for: MoneyGram cash pickup coverage across Vietnam; quick availability at partner counters.
Xoom
Best for: MoMo wallet top-ups, bank deposits to major Vietnamese banks, and even door-to-door delivery in select areas.
Example sending scenarios
- Fast, low-cost family support
- Use Wise to a VND bank account (recipient’s name and account number ready). Confirm the quoted fee + FX and estimated arrival time.
- Internal read: Budgeting in Japan: Tips & Apps to plan remittance frequency.
- Recipient needs cash today
- Send via Seven Bank→Western Union or SBI Remit→MoneyGram for pickup at a nearby counter. Share the code and ID requirements.
- Internal read: Avoiding Common Financial Scams in Japan for safe handoffs.
- Wallet-first family
- Xoom → MoMo wallet load; recipient can pay bills or cash out as needed.
- High-value transfer with paperwork
- Use your Japanese bank; provide invoices/notes if needed; your bank will help with FEFTA reporting over ¥30M. Compare costs first.
Common pitfalls (and how to avoid them)
- Forgetting My Number: You’ll be stopped at setup—bring your card/number. Examples from banks and remitters show it’s required.
- Missing beneficiary details: Use the exact account name/number required by the Vietnamese bank (see Vietcombank’s SWIFT instructions).
- Unexpected intermediary fees: Even if you choose “sender pays,” some overseas charges may still be deducted. This is noted in bank fee pages.
- Choosing on fee alone: Consider exchange-rate margin too—the World Bank tool shows the total cost.
Practical checklist before you send
- Pick a method: bank wire vs non-bank app (cash pickup or bank deposit?).
- Gather docs: residence card + My Number.
- Get recipient details: Vietnamese bank name, branch (if required), account number, beneficiary full name; for cash pickup, confirm the pickup location and ID.
- Compare total cost (fee + FX margin) using World Bank, then lock in the best live quote.
- Send and share: Give your recipient the tracking/MTCN if using cash pickup; keep receipts.
Internal reads that help: International Money Transfer Apps · Best Banks in Japan for Foreigners · Budgeting in Japan: Tips & Apps
Frequently asked questions
Do I really need My Number to send money overseas from Japan?
In many cases, yes. Examples include SMBC Trust Bank and Seven Bank (and others) requiring My Number for inbound/outbound international transfers.
How fast is a transfer to Vietnam?
Non-bank providers can deliver same-day (sometimes within minutes); bank wires usually take 1–3 business days. Always check your provider’s ETA.
Can my family pick up cash in USD?
Yes—providers like SBI Remit (via MoneyGram) list USD cash pickup for Vietnam at partner counters.
What’s the limit per transfer?
It depends on the provider and your verification level. Type I FTSPs can handle high-value transfers (PSA reform lifted cross-border caps when conditions are met). Banks can also send large amounts and handle reporting ≥¥30M.
Will the recipient pay fees in Vietnam?
Cash pickups are typically free for the receiver. For bank deposits, Vietnamese banks may credit the net amount after any correspondent fees (if the sending method used SWIFT). Check with the recipient’s bank (e.g., Vietcombank publishes remittance service notes).
Sample fee and feature comparison
| Feature | Wise | Seven Bank→WU | SBI Remit | Xoom | Your Japanese Bank |
|---|---|---|---|---|---|
| Pricing transparency | High (fee + mid-market FX shown) | Medium (fee table; FX spread) | Medium (fee table; FX spread) | Medium (fee + FX shown) | Low–Medium (multiple components) |
| Receive methods | Bank account | Cash pickup | Cash pickup, bank | Bank, MoMo wallet, some home delivery | Bank account |
| Typical speed | Minutes–1 day | Minutes–1 day (cash) | Minutes–2 days | Minutes–1 day | 1–3 business days |
| Good for | Low cost, frequent sends | Recipients without bank accounts | Wide cash network | Wallet users; mixed needs | Large formal payments |
| Notes | Type I license in Japan | Needs Seven Bank account & app | USD cash pickup via MoneyGram | Supports MoMo wallet credit | Intermediary fees may apply |
Vietnam-specific pointers
- Bank details: Vietnam uses SWIFT for cross-border wires. For Vietcombank, senders use SWIFT BFTVVNVX and beneficiary’s exact name/account.
- Wallet growth: MoMo remains one of Vietnam’s leading wallets; cross-border remittances into wallets are increasingly supported via international partners.
- Regulatory backdrop: SBV regularly updates circulars on foreign-currency transactions; banks reflect these in procedures and tariffs. If you’re planning a large or unusual payment, check current guidance.
Final checklist and smart habits
- Compare at least two providers each time; rates change daily. Use the World Bank corridor tool for a neutral check, then confirm live quotes inside the app.
- Document ready: Keep scans of My Number and ID handy to avoid delays.
- Name matching: Make sure the recipient’s bank name and account name match exactly to avoid returns (banks like Vietcombank show the format).
- Stay within policy: For very large amounts, coordinate with your bank for FEFTA reporting.
- Educate your recipient: For cash pickup, share the MTCN and bring ID. For wallet, ensure KYC is complete (e.g., MoMo).
Internal resources on Japan Handbook
- International Money Transfer Apps: Top Services for Expats in Japan
- Best Banks in Japan for Foreigners
- Budgeting in Japan: How Expats Can Save Money (Tips & Apps)
- Avoiding Common Financial Scams in Japan (Phishing, Phone Scams)
- Using Your Foreign Credit Card in Japan: Fees and Tips
- Double Taxation & Tax Treaties: What Expats Should Know (Japan)
- Business Taxes in Japan: A Guide for Foreign Entrepreneurs
Notes on regulations and licenses (for the curious)
- Japan’s Payment Services Act created Type I/II/III FTSP categories; Type I handles high-value remittances (cross-border caps removed when requirements are met).
- Wise Japan publicly announced its Type I license in March 2024. Nium is another Type I example; domestic Zengin rails limit domestic transfers to ¥50M per transaction even as cross-border caps were lifted.
- Japan’s AML rules require identification and risk-based monitoring; industry leaflets outline when ID checks apply (e.g., cash transfers over ¥100,000).
Conclusion
For most expats, the best value is a non-bank provider (e.g., Wise) for VND bank deposits, switching to Seven Bank/Western Union or SBI Remit/MoneyGram when cash pickup is needed. Keep your My Number ready, compare total costs before each send, and large transfers are smoother if you use a bank that can handle FEFTA reporting.
