How to receive USD in Vietnam
To receive US dollars in Vietnam, a company gives the payer the SWIFT details of a foreign currency payment account at a licensed bank in Vietnam, and Decree No. 70/2014/ND-CP requires export proceeds to be deposited into that kind of account. A Vietnamese company needs State Bank of Vietnam permission to hold a foreign currency account abroad, while freelancers can receive dollars into an individual foreign currency account or through a platform. This guide covers the rules, what to give the payer, arrival times, published fees and platform options.
- Article 5.1 of Decree No. 70/2014/ND-CP requires a Vietnamese company's proceeds from exports of goods and services to be deposited into foreign currency accounts at authorized credit institutions in Vietnam.
- The deadline for export proceeds follows the payment term in the contract, and the State Bank of Vietnam may allow part or all of the proceeds to be kept abroad case by case.
- Under Article 23 of the Ordinance on Foreign Exchange as amended in 2013, a Vietnamese company needs SBV permission to open a foreign currency account overseas, and only in listed cases.
- SBV Circular No. 16/2014/TT-NHNN lets a resident individual's foreign currency account receive foreign currency remitted from abroad, which covers freelancers paid by clients abroad.
- PVcomBank publishes a credit advice fee of 0.05% on foreign currency transfers received, with a minimum of USD 2 and a maximum of USD 100, plus 10% VAT.
- The SBV has stated that virtual currencies are not lawful payment instruments in Vietnam, and the 2025 crypto pilot requires all trading and payment to be in dong.
How to receive USD in Vietnam: the short answer
Vietnam is one of Asia's largest exporters to the United States. Garment, footwear, furniture, electronics, seafood and coffee exporters are paid in US dollars, and so are software outsourcing firms, game studios, design agencies and freelancers in Hanoi, Ho Chi Minh City and Da Nang. Each of them needs to know where a buyer or client abroad should send the money.
For a Vietnamese company the main answer is set by law: a foreign currency payment account at a licensed bank in Vietnam, which buyers pay by SWIFT, the network banks use to send cross-border payments. Export proceeds must be deposited into that kind of account. US account details, a routing number and account number from a provider, let a US client pay by ACH, the low-cost US domestic bank transfer system, but a Vietnamese company needs State Bank of Vietnam (SBV) permission to hold a foreign currency account abroad. Freelancers and individuals use individual foreign currency accounts or payment platforms.
This guide covers the SBV rules, the routes, what to give the payer, arrival times, published fees, platforms and where a Helm account fits. For the account side of the same question, see our guide to a USD business account in Vietnam.
SBV rules on money received from abroad
Three instruments set the framework: the Ordinance on Foreign Exchange of 2005, as amended by Ordinance No. 06/2013/UBTVQH13 from 1 January 2014; Decree No. 70/2014/ND-CP, which implements it; and SBV Circular No. 16/2014/TT-NHNN on foreign currency and dong accounts. An authorized credit institution is a bank or foreign bank branch in Vietnam licensed by the SBV to deal in foreign exchange.
| Point | Rule | Instrument |
|---|---|---|
| Where export proceeds go | Foreign currency accounts at authorized credit institutions in Vietnam | Decree 70/2014, Article 5.1 |
| Deadline | The payment term in the export contract or payment records; no fixed number of days | Decree 70/2014, Article 5.1 |
| Keeping proceeds abroad | Only where the SBV allows it, case by case | Decree 70/2014, Article 5.1 |
| Conversion to dong | Not required; the company may hold the dollars, use them for permitted payments or sell them to a bank | Decree 70/2014 |
| A company's own foreign currency account abroad | SBV permission, for listed cases only | Ordinance, Article 23(3); Decree 70/2014, Article 12 |
| Paying in dollars inside Vietnam | Not allowed unless the SBV permits it | Ordinance, Article 22 |
| Individuals' foreign currency accounts | May receive foreign currency remitted from abroad | Circular 16/2014, Article 4.1(a) |
Sources: Ordinance No. 06/2013/UBTVQH13 amending the Ordinance on Foreign Exchange; Decree No. 70/2014/ND-CP; SBV Circular No. 16/2014/TT-NHNN. As published on 29 October 2026.
The practical reading for a manufacturer is simple. Invoice the buyer with the details of your foreign currency account in Vietnam, and set the payment term in the contract, because that term is your legal deadline. The dollars can stay in dollars, so you can use them to pay for imported materials and convert the rest when you choose.
The listed cases for an account abroad under Article 23(3) are organizations with branches or representative offices overseas, organizations receiving loans from abroad, organizations performing contracts with foreign parties, and certain state bodies receiving foreign aid. The rule applies to an account with a foreign provider in the company's name as much as to an account at a foreign bank.
The ways to receive US dollars in Vietnam
The table compares the routes. It is not a ranking.
| Route | How the payer pays | What arrives | Suits |
|---|---|---|---|
| Foreign currency payment account at a bank in Vietnam | SWIFT wire through a correspondent bank | US dollars, net of bank charges | All Vietnamese exporters; the required destination for export proceeds |
| Dong account at a bank in Vietnam | SWIFT wire | Dong, converted by the bank | Payments that will be spent in dong at once |
| Company account abroad with US details | ACH or Fedwire | US dollars, held abroad | Vietnamese companies with SBV permission |
| Individual foreign currency account or platform | SWIFT, or through the platform | US dollars, or dong on withdrawal | Freelancers and individual contractors |
| Trading affiliate outside Vietnam | ACH, Fedwire or SWIFT to the affiliate | US dollars in the affiliate's name | Groups that sell through Singapore, Hong Kong or US companies |
Source: Helm Editorial Team, from the Ordinance on Foreign Exchange, Decree No. 70/2014/ND-CP and providers' published pages, as published on 29 October 2026.
Fedwire is the Federal Reserve's real-time system for US dollar payments, used for large or urgent amounts. A correspondent bank is a bank that holds an account for another bank and settles payments in its currency, usually in New York for US dollars.
A trading affiliate registered abroad is not a Vietnamese resident, so Article 23 does not apply to it. It can sell to US buyers, hold the dollars and pay the Vietnamese factory under a supply contract. The Vietnamese company then receives its own export proceeds into its account in Vietnam. Transfer pricing and tax rules apply to that structure, so take advice before setting it up.
To open the account in Vietnam, banks ask for the enterprise registration certificate, the charter, proof of the legal representative's authority, appointments of the General Director and Chief Accountant, and details of beneficial owners. Under SBV Circular No. 17/2024/TT-NHNN, the legal representative must also register biometric data with the bank.
What to give the payer
Send each buyer one set of details, in writing, and ask its accounts team to save them as a vendor record.
| Field | For a wire to a bank in Vietnam (SWIFT) | For US account details (ACH or Fedwire) |
|---|---|---|
| Beneficiary name | Company name exactly as on the account, matching the enterprise registration certificate | Registered name exactly as on the account |
| Account number | The foreign currency (USD) account number, not the dong account | US account number |
| Bank identifier | Bank's full name, address and SWIFT code | Nine-digit routing number |
| Intermediary bank | The US correspondent your bank names, with its SWIFT code | Not needed |
| Reference | Contract and invoice number, so the bank can match the payment to the export | Invoice number |
| Charges | OUR, so the full invoice amount arrives | Not applicable to ACH |
Field list reflects standard SWIFT and US payment practice and the SBV's document checks on foreign currency receipts; confirm your bank's exact inbound instructions. As published on 29 October 2026.
Vietnamese banks check incoming foreign currency against contracts, invoices and customs declarations, so keep each export file complete before the money arrives. Use our SWIFT code lookup to check your bank's code, and see how to receive USD from overseas buyers for a full invoice layout.
OUR, SHA and BEN are SWIFT charge codes. OUR means the sender pays all fees and the full amount arrives. SHA means fees are shared, so intermediary banks can deduct theirs from the amount in transit. BEN means the receiver pays all fees. Agree OUR in the contract, or price in the expected deductions.
How long a USD payment takes to arrive
Arrival time depends mainly on the rail the payer uses.
| Rail | Published timing | What affects it |
|---|---|---|
| ACH to US account details | About 80% of ACH volume settles in one banking day or less; Same Day ACH accepts payments up to $1 million each | Client's bank cut-off and whether it sends Same Day ACH |
| Fedwire to US account details | Real-time gross settlement; the business day runs from 9:00 p.m. ET the previous day to 7:00 p.m. ET, Monday to Friday | US holidays and the client's bank hours |
| SWIFT wire to a bank in Vietnam | Depends on the correspondent chain and the receiving bank's checks | Missing contract references, incomplete details, US and Vietnamese holidays |
| Platform payment | Set by the platform | Platform's own payout schedule |
Sources: Nacha, "Significant majority of ACH payments settle in one business day or less" (28 August 2023); Federal Reserve, About the Fedwire Funds Service. As published on 29 October 2026.
Real-time gross settlement means each payment settles individually as it is processed. Hanoi and Ho Chi Minh City are 11 hours ahead of New York in the US summer and 12 hours ahead in the US winter, so a wire sent in a New York afternoon reaches the correspondent while Vietnamese banks are closed. Ask the buyer for the SWIFT confirmation once the payment is sent, so your bank can trace it. Banks charge for amendments and traces, so complete details save money as well as time.
What it costs: published fees
A dollar receipt can carry the buyer's bank fee, correspondent deductions and your own bank's or provider's charge. The table shows charges that providers publish. Other banks set their own fees.
| Provider and item | Published charge |
|---|---|
| PVcomBank: credit advice fee on a foreign currency transfer received for a beneficiary in Vietnam | 0.05%, minimum USD 2, maximum USD 100, plus 10% VAT |
| PVcomBank: amendment, return or tracing message | USD 10 per message, plus 10% VAT |
| Payoneer: receiving into a non-local-currency receiving account | 1%, minimum $1 |
| Payoneer: withdrawal to a bank in the recipient's local currency | 1.2% to 4% |
| Payoneer: annual account fee | $29.95, only if the account receives less than $6,000 in 12 consecutive months |
| Grey: receiving USD by ACH | 0.8%, minimum $2, maximum $10 |
| Grey: currency conversion | 1%, capped at $6 |
Sources: PVcomBank, Appendix 03, fee schedule for domestic and international money transfers; Payoneer, Fees (last updated 1 January 2026); Grey, published fees. As published on 29 October 2026. PVcomBank states its fees exclude 10% VAT. Correspondent banks may deduct their own charges.
On a $20,000 receipt, a 0.05% credit advice fee is $10 before VAT, well inside PVcomBank's minimum and maximum. The larger cost is often the exchange rate when dollars become dong: a rate 1% below the market rate costs $200 on the same $20,000. Because Decree 70 does not require conversion, a company can hold dollars and pay import suppliers in dollars instead of converting twice. Read our guide on paying Chinese suppliers from Vietnam for the outbound side.
Wise, Payoneer and other platforms in Vietnam
The table records what each provider's own pages state about Vietnam, as published on 29 October 2026. It is not a ranking, and lists change.
| Provider | What its own pages state | Point to check |
|---|---|---|
| Airwallex | Vietnam is an eligible country of business registration, onboarded by Airwallex's Singapore entity | SBV permission for a Vietnamese company's account abroad |
| Aspire | Vietnam is listed as a supported country of incorporation | Whether USD details are issued to Vietnamese companies |
| Wise | Vietnam is not on Wise's list of countries where customers can hold money | Not available for holding balances |
| Payoneer | Serves 190+ countries and territories; fees published globally | Withdrawal fee to Vietnamese banks shown in the account |
| Grey | Virtual USD, GBP and EUR accounts for freelancers in Vietnam, with transfers to a dong account | Written for individuals |
Sources: Airwallex eligible countries; Aspire supported countries; Wise, "Where do I need to live to hold money with Wise"; Payoneer, Fees; Grey, freelancers in Vietnam. As published on 29 October 2026.
A provider's acceptance of Vietnamese customers does not replace the SBV rules. For a company, an account abroad needs SBV permission, and export proceeds must still be deposited in Vietnam unless the SBV allows otherwise. For individuals, check whether the platform pays out in dollars to an individual foreign currency account or in dong to a dong account.
Stablecoins
Some foreign clients offer to pay in USDC or USDT, digital tokens designed to hold a steady value of one US dollar. The SBV has stated that virtual currencies are not legal currencies and cannot be used as lawful payment instruments in Vietnam. Resolution No. 05/2025/NQ-CP created a five-year pilot crypto-asset market in which all offering, trading and payment are in dong and assets backed by legal currencies are excluded from issuance. Stablecoins are not a lawful route for export proceeds, which must reach a foreign currency account in Vietnam. Take legal advice before accepting them.
Freelancers and individual contractors
Many Vietnamese developers, designers, translators and writers work for clients abroad as individuals. Article 4.1 of SBV Circular No. 16/2014/TT-NHNN lets a resident individual's foreign currency account receive foreign currency remitted from abroad, and receipts for exported goods and services from accounts of non-resident organizations. So a freelancer can open a USD account at a bank in Vietnam and give clients its SWIFT details.
The alternative is a platform. A client pays the platform, by ACH in the United States or through a marketplace, and the freelancer withdraws to a bank in Vietnam. Check whether the withdrawal arrives in dollars or in dong, what the platform charges to convert, and whether your client can pay the platform the way it prefers. Wise does not hold balances for residents of Vietnam according to its own list, so compare the providers that state they serve Vietnam.
Keep each contract and invoice. Banks may ask about the source of regular inward payments, and the records support your tax filings. A freelancer whose income grows often forms a company, which then follows the company rules above, including the SBV permission rule for any account abroad.
Where a Helm account fits, and where it does not
Helm works with companies registered in Vietnam. Helm is a financial technology company, not a bank, and accounts are held with regulated partner institutions. A Helm account gives a company USD account details in its own name: a routing and account number that receives ACH, Fedwire and SWIFT, alongside EUR details (IBAN, SEPA and SWIFT) and GBP details (sort code, Faster Payments and SWIFT).
A Vietnamese company cannot use a Helm account to hold its export proceeds unless the SBV allows it. A Helm account sits outside Vietnam. Under Article 23 of the Ordinance, a Vietnamese company needs SBV permission to hold a foreign currency account abroad, and under Article 5.1 of Decree 70 its export proceeds must be deposited into a foreign currency account at a bank in Vietnam unless the SBV permits retention abroad. The account fits these flows:
- A trading affiliate outside Vietnam that sells to US buyers, collects in USD and pays the Vietnamese factory, which receives its export proceeds in Vietnam.
- A Vietnamese company with SBV permission for an overseas account, for example to perform contracts with foreign parties.
- Foreign buyers of Vietnamese goods that pay Vietnamese suppliers in USD from their own account, by SWIFT or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending.
A named account manager answers review questions in writing within one business day, and trade finance is arranged case by case. 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.
Checklist for receiving USD in Vietnam
- Open a USD payment account at a bank in Vietnam for export proceeds.
- Set the payment term in each export contract, because it sets your deadline.
- Give buyers the exact account name, USD account number, SWIFT code and correspondent bank.
- Ask buyers to quote the contract and invoice number and to use OUR charges.
- Get SBV permission before your company holds any foreign currency account abroad.
- Hold dollars for import payments instead of converting twice.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
How can a business in Vietnam receive US dollars?
A Vietnamese company receives US dollars into a foreign currency payment account at a licensed bank in Vietnam, which buyers pay by SWIFT wire. Decree No. 70/2014/ND-CP requires export proceeds to be deposited into that kind of account. A company account abroad, including US account details from a provider, needs SBV permission.
Do Vietnamese exporters have to bring USD back to Vietnam?
Yes. Article 5.1 of Decree No. 70/2014/ND-CP requires proceeds from exports of goods and services to be deposited into foreign currency accounts at authorized credit institutions in Vietnam. The deadline is the payment term in the contract, and the SBV may allow some proceeds to stay abroad case by case.
Do I have to convert dollars to dong when I am paid from abroad?
No. Decree 70 does not require exporters to convert. A company may hold dollars in its foreign currency account, use them for permitted payments such as imports, or sell them to a bank when it chooses.
Can a Vietnamese company receive payments into an account abroad?
Only with SBV permission and in listed cases. Article 23(3) of the Ordinance on Foreign Exchange covers organizations with overseas branches or representative offices, those borrowing from abroad, those performing contracts with foreign parties, and certain state bodies receiving foreign aid.
Can a freelancer in Vietnam receive USD from clients abroad?
Yes. SBV Circular No. 16/2014/TT-NHNN lets a resident individual's foreign currency account receive foreign currency remitted from abroad. Freelancers can give clients the SWIFT details of a USD account at a bank in Vietnam, or use a platform that pays out to a bank in Vietnam.
How much do Vietnamese banks charge to receive a USD transfer?
Each bank sets its own fees. PVcomBank's published schedule charges a credit advice fee of 0.05% on a foreign currency transfer received for a beneficiary in Vietnam, with a minimum of USD 2 and a maximum of USD 100, plus 10% VAT.
Can I use Wise to receive USD in Vietnam?
Wise does not list Vietnam among the countries where customers can hold money. Providers that state they serve Vietnam include Airwallex, which onboards Vietnamese businesses through its Singapore entity, and Payoneer and Grey, which publish their fees on their own pages.
Is it legal to receive USDT in Vietnam?
The SBV has stated that virtual currencies are not lawful payment instruments in Vietnam. Resolution No. 05/2025/NQ-CP created a pilot crypto-asset market where all trading and payment are in dong, and it does not make stablecoins a lawful means of payment or a route for export proceeds.
How long does a USD wire to Vietnam take?
A SWIFT wire depends on the correspondent chain, the receiving bank's document checks and complete payment details. A US client paying US account details by ACH usually settles in one banking day or less, as Nacha reports for about 80% of ACH volume, but a Vietnamese company needs SBV permission to hold such an account abroad.
References
- Government of Vietnam: Decree No. 70/2014/ND-CP guiding the Ordinance on Foreign Exchange
- Ordinance No. 06/2013/UBTVQH13 amending the Ordinance on Foreign Exchange (English)
- State Bank of Vietnam: Circular No. 16/2014/TT-NHNN on foreign currency and Vietnamese dong accounts
- PVcomBank: Appendix 03, fee schedule for domestic and international money transfers
- Payoneer: Fees
- Vietnam Law Magazine: Vietnam launches five-year crypto trading market pilot program (Resolution No. 05/2025/NQ-CP)
- Nacha: Significant majority of ACH payments settle in one business day or less (28 August 2023)
- Federal Reserve: About the Fedwire Funds Service
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.