Will the recipient in Slovakia need identification to receive money from Vietnam?
Yes. If you're sending money from Vietnam to Slovakia for cash pickup, the recipient in Slovakia must show a valid ID and sometimes the transaction number. This helps ensure that money sent from Vietnam is securely delivered in Slovakia.
Are there limits on how much I can transfer?
Yes, each service has its own limits on the transfer amount.
You can find information about the limits on the service's website or app.
How to calculate taxes on foreign payments?
If for some reason the bank's rate on that day was higher than the Central Bank's rate (the rarest
case), the "service" received is also taxed. It is easier to follow this point than to deal with
additional calculations.
Do I need a bank account in Vietnam to send money to Slovakia?
Not necessarily. Many international services operating in Vietnam offer cash transfers to Slovakia, so you can send money without a bank account. However, if you’re using online banking or bank-to-bank transfer from Vietnam to Slovakia, an account will be required.
