Typically Hong Kong banks and large transfer agents, like Western Union, charge far higher amounts for a money transfer to Vietnam than other countries. This is due to a large number of factors, but primarily due to lack of competition and smaller demand compared to HKD/USD or EUR/USD.
Generally, the Hong Kong banks and transfers agents will charge over 8% of the money transferred in fees and charges and Foreign Exchange Rate (“FX”) spreads.
For a small $100 transfer, $40 in revenue can be made by the transfer agent through fees and charges and bad FX rates. Even for larger amounts like HKD $10,000, it is not unusual to have almost $800 in revenue for the transfer agent or bank for making the transfer.
So I guess you always hear your friends complain about the expensive transfer fees. or you are the person who complains. Now, look here, in this article, I am going the share a cost-effective way of sending money from Hong Kong to Vietnam. Even it is a small amount of funds, you can still get the real-time mid-market exchange rate and a fee low to 1%.
What am I going to talk about is Epay, an international payment company, whose main business are global remittance, pay and receive money online, and currency exchange, including fiat money, e-currency, and cryptocurrency.
Epay has built a fast and low-cost remittance network for global users. It recently added Vietnamese dong in the network. so it is a good news for you if you are looking the cheapest way to send money from Hong Kong to Vietnam.
At present, the fee to transfer from Hong Kong to Vietnam at Epay is 1%. with the best exchange rate of HKD/VND 2972.5. By comparison of both the fees and exchange rate, Epay is at my top choice.
You can send money at home with a laptop or smartphone, thanks to Epay Wallet APP. Here is the remittance interface on the APP.
Considering the security and legal requirements, KYC authentication is required for the first remittance. It takes 1–2 minutes to register for an Epay account, and after completing the account verification, you can go to the global remittance page to make remittances.
Your payment can be received within hours or 1 day. Because Epay has local remittance agents in both Hongkong and Vietnam. So if you never tried Epay. It is the time. Download the Epay APP to experience the good service now!