USD to VND for business payments
A foreign buyer can pay a Vietnamese supplier in US dollars to its foreign currency account or convert to Vietnamese dong (VND) and pay its dong account. Vietnamese law does not require exporters to convert dollars, but it bars foreign currency payments inside Vietnam without State Bank permission, so dollars suit cross-border invoices and dong suits local costs.
- Article 22 of Vietnam's Ordinance on Foreign Exchange bars the use of foreign currency for transactions, payments, price listings and contracts within Vietnam unless the State Bank of Vietnam (SBV) permits it.
- Decree 70/2014/ND-CP requires export proceeds to be deposited into foreign currency accounts at licensed banks in Vietnam, with timing set by the export contract, and does not require conversion to dong.
- NAPAS FastFund 247 moves dong in real time for transfers of less than VND 500 million, and VietnamPlus reported in May 2026 that larger transfers take at least four hours.
- PVcomBank charges 0.05% on a foreign currency transfer received, minimum USD 2 and maximum USD 100, plus 10% VAT.
- Circular 19/2018/TT-NHNN allows traders in Vietnam and China border trade to pay in convertible currencies, dong or yuan.
The Vietnamese dong at a glance
The Vietnamese dong (VND) is issued by the State Bank of Vietnam (SBV), the central bank, which also sets Vietnam's foreign exchange rules. The core law is the Ordinance on Foreign Exchange, amended in 2013, with Decree 70/2014/ND-CP guiding it and SBV circulars covering accounts and specific trades. The dong's rate against the US dollar changes, so a dong invoice carries exchange rate risk for a dollar-based buyer until it is paid.
| Item | Vietnamese dong |
|---|---|
| Currency code | VND |
| Issuer and foreign exchange regulator | State Bank of Vietnam (SBV) |
| Foreign currency inside Vietnam | Barred for transactions, payments, price listings and contracts unless the SBV permits it (Ordinance, Article 22) |
| Export proceeds | Into foreign currency accounts at licensed banks in Vietnam; no duty to convert (Decree 70/2014) |
| Payments abroad for imports | Permitted for current transactions with supporting documents |
| Instant dong transfers | NAPAS FastFund 247, under VND 500 million per transaction |
| Border trade with China | Convertible currencies, dong or yuan (Circular 19/2018) |
Sources: Ordinance No. 06/2013/UBTVQH13; Decree No. 70/2014/ND-CP; NAPAS, FastFund 247. Checked on 29 October 2026.
Vietnamese rules on dollars and dong
Vietnam controls foreign exchange more closely than many of its neighbors. Three rules shape a payment to a Vietnamese supplier.
- Dollars from abroad are fine. Decree 70/2014 requires export proceeds to be deposited into foreign currency accounts at licensed banks in Vietnam. The time limit follows the payment term in the export contract, and the SBV may allow proceeds to be kept abroad case by case. The Decree does not require the supplier to convert the dollars to dong.
- Dollars inside Vietnam are not. Article 22 of the Ordinance bars the use of foreign currency for transactions, payments, price listings and contracts within Vietnam unless the SBV permits it. A Vietnamese subsidiary of yours pays local suppliers in dong, and a local agent cannot be paid in dollars to pay a factory for you.
- Documents travel with the money. Vietnamese banks check incoming foreign currency against the export contract, invoice and customs declaration, so a wire that quotes the contract number is credited faster.
Under Circular 16/2014/TT-NHNN, a company's foreign currency account may receive foreign currency remitted from abroad and the proceeds of exported goods and services, and may be used to sell foreign currency to authorized credit institutions. Our guide to paying suppliers in Vietnam covers each case.
How a payment reaches a Vietnamese supplier
A dollar payment arrives by SWIFT into the supplier's foreign currency account. A dong payment is either a SWIFT wire converted by the supplier's bank, or a local payout by a provider with access to Vietnamese rails. Small domestic transfers usually run on NAPAS FastFund 247, the instant transfer service of the National Payment Corporation of Vietnam, which connects more than 60 members, settles in real time and has a limit of less than VND 500 million per transaction. VietnamPlus reported in May 2026 that banks had moved transfers of VND 500 million or more to standard processing that takes at least four hours or until the next working day.
| Route | Supplier receives | Timing |
|---|---|---|
| SWIFT wire to a USD account | USD | A Vietnamese banking day, after document checks |
| SWIFT wire to a dong account | VND, converted on arrival | A Vietnamese banking day; supplier's bank sets the rate |
| Local dong payout, below VND 500 million | VND | Real time on NAPAS FastFund 247 |
| Local dong payout, VND 500 million or more | VND | Standard processing of at least four hours |
Sources: NAPAS, FastFund 247; VietnamPlus (2 May 2026); Decree 70/2014. Checked on 29 October 2026.
For a wire, collect the company name exactly as on the account, its address, the USD account number (not the dong account), and the bank's name, branch and SWIFT code. Check the code with our SWIFT code lookup.
What converting USD to VND costs
A dollar to dong conversion costs the mid-market rate, the midpoint between buying and selling prices at that moment, plus the provider's margin, plus the payment fee. On a $20,000 payment, a rate 1% below the mid-market rate costs $200. If you send dollars, the supplier's bank may charge to receive them: PVcomBank lists 0.05% on a foreign currency transfer received, with a minimum of USD 2 and a maximum of USD 100, plus 10% VAT, and USD 10 per amendment, return or tracing message. Intermediary banks can also deduct charges from a wire sent with shared charges, leaving the invoice part-paid.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. A Helm account holds dollars in your company's own name and sends international payments to suppliers by SWIFT, or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before you send.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
Pay a Vietnamese supplier in USD or VND?
- Pay USD for export invoices. The supplier's export proceeds go into its foreign currency account, it does not have to convert, and it can use dollars for imported materials. Many exporters quote only in dollars.
- Pay VND for local costs and small dong invoices, through a provider that pays out locally. Below VND 500 million the payout arrives in real time.
- Never pay a local agent in dollars. Article 22 bars foreign currency payments inside Vietnam without SBV permission.
- Plan around Tet. The Government Office approved a seven-day Tet holiday from 4 to 10 February 2027, so pay invoices due in early February by the end of January.
For the supplier's side, see our guides to receiving USD in Vietnam and Vietnam.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can I pay a Vietnamese supplier in US dollars?
Yes. Decree 70/2014/ND-CP requires export proceeds to be deposited into foreign currency accounts at licensed banks in Vietnam, so a supplier can receive dollars from abroad and is not required to convert them.
Can a Vietnamese company pay another Vietnamese company in dollars?
Generally no. Article 22 of the Ordinance on Foreign Exchange bars the use of foreign currency for transactions, payments and contracts within Vietnam unless the State Bank of Vietnam permits it.
What is NAPAS FastFund 247?
It is the instant dong transfer service of the National Payment Corporation of Vietnam. It connects more than 60 members, settles in real time and has a limit of less than VND 500 million per transaction.
How much does a Vietnamese bank charge to receive a wire?
Each bank publishes its own schedule. PVcomBank lists 0.05% on a foreign currency transfer received, minimum USD 2 and maximum USD 100, plus 10% VAT.
Can I pay in yuan for border trade with China?
Circular 19/2018/TT-NHNN allows traders in Vietnam and China border trade to pay in convertible currencies, dong or yuan, through banks or in cash.
What does Helm charge to pay a supplier in Vietnam?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- Ordinance No. 06/2013/UBTVQH13 amending the Ordinance on Foreign Exchange (English)
- Government of Vietnam: Decree No. 70/2014/ND-CP guiding the Ordinance on Foreign Exchange
- State Bank of Vietnam: Circular No. 16/2014/TT-NHNN on foreign currency and Vietnamese dong accounts
- State Bank of Vietnam: Circular No. 19/2018/TT-NHNN on foreign exchange management for Vietnam and China border trade
- NAPAS: FastFund 247 service
- Vietnam News: Holiday schedules for Vietnamese Culture Day, Lunar New Year, National Day approved (2 October 2026)
- VietnamPlus: Banks stop processing instant 24/7 transfers for transactions above VND 500 million (2 May 2026)
- PVcomBank: Appendix 03, fee schedule for domestic and international money transfers
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.