Canonical: https://unicorncurrencies.com/send-money-to/vietnam/

# Intelligence: Sending Money to Vietnam

## Banking Requirements

- **Code:** **Bank Code + Account**

- **Format:** Bank code and account number (SWIFT for international)

## Route Context

- **Use case:** Pay Vietnamese manufacturers for textiles, electronics, furniture

- **Published local rails:** NAPAS (National Payment Corporation of Vietnam), SWIFT

- **Timing note:** Settlement and credit timing depend on rail availability, funding, cut-offs, compliance review, correspondent handling, and receiving-bank release.

## Payment Control

- Check beneficiary details before release.

- Confirm payment purpose and invoice context.

- Keep proof available if the supplier says funds have not arrived.

- Review deductions if the amount lands short.

## Regulatory

- State Bank of Vietnam (SBV) foreign exchange controls

- Tax identification number (TIN) required for suppliers

- Import license for certain goods

- VND is non-convertible - must use USD intermediary

## Key Industries

- Textile & Garment

- Electronics Assembly

- Furniture

- Footwear

- Agriculture

## Tips

- Most Vietnamese suppliers prefer USD over VND

- SWIFT still dominant - local rails underdeveloped

- Vietnam emerging as China alternative for manufacturing

- Lower labor costs but less infrastructure than China