How to Send Study-Abroad Money: Procedures and Key Notes

Sending money for study abroad means transferring foreign currency from Vietnam abroad to pay tuition, living expenses, or other study-related costs of an international student. The transaction must go through a licensed credit institution and have documents proving the purpose as required. Vietnam Maritime Commercial Joint Stock Bank (MSB) supports study-abroad transfers through the SWIFT system to more than 190 countries, and announces a policy of a 100% waiver on tuition transfer fees every day of the week when done on the mobile app.

Parents preparing documents and making an international study-abroad transfer for their child

1. What is a study-abroad transfer? Why is it important to understand?

A study-abroad transfer is a one-way transfer abroad to serve study, including tuition, dormitory fees, living expenses, international student health insurance, or other fees required by the school or educational institution. This is one of the purposes clearly recognized by Vietnamese law, unlike transfers for unspecified personal purposes.

Understanding the regulations before sending study-abroad money helps you prepare the right documents and reduce the chance of a transaction being returned or asked for supplements; calculate the full amount and the fees incurred; and guard against scam risks involving impersonation of schools or requests to transfer into unofficial accounts.

Parents and an international student reviewing a tuition notice on a laptop

2. Legal regulations on study-abroad transfers

2.1. Decree 70/2014/NĐ-CP on sending money abroad

Decree 70/2014/NĐ-CP, which details the implementation of the Ordinance on Foreign Exchange, is the document governing one-way transfers abroad. Under Clause 2, Article 7, residents who are Vietnamese citizens may purchase, transfer, or carry foreign currency abroad for the purpose of study, along with other purposes such as medical treatment, business travel, tourism, family support, inheritance, and settlement.

On 07/02/2025, the Vietnam Banking Association issued the Unified Code of Rules on the list and principles for providing documents for one-way transfers abroad by Vietnamese citizens, to standardize document requirements among banks.

2.2. Documents proving the study-abroad purpose

For the study purpose, the bank needs the official tuition notice and living cost information from the school abroad. The amount transferred is considered based on the amount stated in the documents and the documents proving the purpose, rather than applying a single fixed cap to every transaction.

Documents commonly required include a tuition notice or invoice from the school, an admission letter (letter of acceptance) or confirmation of enrollment, and the sender’s valid identity documents.

3. Common ways to send study-abroad money

3.1. International SWIFT transfer through a bank

This is the common method and suits large tuition amounts. At MSB, the international transfer via SWIFT service supports transfers to more than 190 countries. Processing and crediting time depend on the receiving country, intermediary banks, and the time of the transaction. This method provides a receipt and clear confirmation, suitable for explaining the purpose and keeping records of tuition payments.

Study-abroad transfers via SWIFT make international transactions transparent and safe

3.2. Paying directly through the school’s gateway

Many international schools designate that tuition be paid through specialized international payment gateways for education. This is a form chosen and guided by the school, with its own process under each educational institution’s requirements. The sender needs to check the official payment information from the school and prepare all related documents.

With this method, parents or the international student access the payment gateway designated by the school, enter the fee details, and choose a payment method. A domestic bank transfer in VND may be one of the options the platform supports; costs and processing time need to be checked directly on the gateway at the time of payment.

3.3. International money transfer services

For smaller or unexpected costs such as sending additional living expenses, you can consider an international money transfer service such as Western Union. At MSB, Western Union transactions are announced to be processed in about 20–30 minutes if the documents are complete, with a network of more than 550,000 locations worldwide. This method suits transfers to individuals better; it is not a common channel for paying tuition directly to a school.

Comparison table of 3 ways to send study-abroad money

(*) The information above is a general comparison. The specific process and time depend on the policy of each school, platform, and bank, and the status of the application at the time of the transaction.

4. Documents to prepare for a study-abroad transfer

To send study-abroad money through a bank, customers usually need to prepare:

• Identity documents: A valid CCCD (citizen ID) or passport of the person making the transfer.
• Tuition notice or invoice: Clearly stating the amount due, the term, and the student’s name.
• Admission letter or confirmation of enrollment: A letter of acceptance or enrollment confirmation.
• The school’s beneficiary account information: Bank name, bank address, SWIFT code, account number or IBAN, and the beneficiary’s name and address.
• Documents proving the relationship: May be required if the sender is not the student, for example parents sending money to their child.

💡 Practical tip

Ask the school to send the tuition notice as an official PDF file with full beneficiary account details, rather than relying only on screenshots or handwritten information, to reduce errors when the bank cross-checks.

5. Fees and exchange rates for study-abroad transfers

SWIFT transfer fees at MSB may include a transfer fee, a telegraphic fee, and fees of intermediary or receiving banks. For the tuition purpose, MSB is currently announcing a 100% waiver of transfer fees on all days of the week when done on the mobile app. The conditions, duration, and scope of the promotion need to be re-checked before creating the order.

Foreign exchange rates such as USD, CAD, AUD, or GBP move with the market. Customers should check the MSB exchange rates at the time of the transaction, because the actual applied rate may differ from the reference rate.

Illustrative example: Suppose one term’s tuition is USD 10,000 and the reference USD selling rate at the time of transfer is VND 26,000/USD; the expected converted amount is VND 260,000,000, not including the telegraphic fee and intermediary bank fees, if any.

(*) The example only illustrates the calculation and is not an actual exchange rate or fee level. Customers need to look up the exchange rate and total cost in the app or confirm with MSB before locking in the order.

MSB’s daily fee waiver for tuition transfers

6. Step-by-step guide to sending study-abroad money through a bank

At an MSB transaction counter, the process includes the following steps:

1. Visit the nearest MSB branch or transaction office, bringing all the prepared documents.
2. The teller advises and confirms the transfer purpose is study.
3. Provide identity documents, the tuition notice, and the school’s beneficiary account information.
4. MSB checks the validity of the information, the amount, and the source of funds.
5. Receive a receipt or transaction confirmation to keep for records.

If done online through the MSB Digital Bank app, the customer logs in to the app, selects “Services” → “International transfer”, creates a transfer profile with the purpose of study, enters the information as guided, and waits for MSB to approve the profile. After that, the customer selects a valid profile, checks the fees, locks the exchange rate, submits the order, and receives confirmation by email.

7. Important notes when sending study-abroad money

7.1. Send to the correct school account details

A wrong SWIFT code, account number, IBAN, or beneficiary name can cause the tuition to be delayed, returned, or incur a tracing fee. Cross-check the information against the school’s official tuition notice and do not use information sent through unofficial channels.

7.2. Plan processing time proactively

Send the money at least a few business days before the tuition deadline. Crediting time via SWIFT is usually about 1–3 business days, not including the time the school takes to process and update the payment in its system.

7.3. Check the total transfer cost

Customers should check MSB’s fee promotion at the time of the transaction. If the school requires payment through Flywire or a similar platform, compare the total amount payable, the exchange rate, the processing time, and the methods the platform offers before choosing.

⚠️ Important note

Beware of requests to send an “urgent visa processing fee” or a “seat reservation fee” to a personal account of unclear origin. Always verify the account through the school’s official website, email, or contact point, and do not give an OTP code or password to anyone by phone or message.

8. Frequently asked questions about study-abroad transfers

8.1. How long does a study-abroad transfer take?

Through SWIFT at MSB, crediting time is usually about 1–3 business days, depending on the country, the receiving bank, and intermediary banks. If paying through a school gateway such as Flywire, the time depends on the method chosen on the platform.

8.2. How much is the fee for a study-abroad transfer?

The fee depends on the transfer channel, the amount, the payment route, and intermediary banks. For the tuition purpose, MSB is currently announcing a 100% waiver of transfer fees when done on the app; customers need to check the conditions of application at the time of the transaction.

8.3. Is there a limit on the amount for study-abroad transfers?

The amount is considered based on documents proving a valid study purpose, such as a tuition notice, living costs, and the bank’s document review requirements.

8.4. Who can send study-abroad money for a child?

A resident who is a Vietnamese citizen, usually a parent or legal guardian, can make the transfer in their name for the study purpose if they provide full documents proving the purpose and relationship when requested. International students can also do it themselves if they meet the transaction requirements.

8.5. Should I send study-abroad money in VND or foreign currency?

The currency of transfer depends on the school’s requirements, the beneficiary account, and the payment method. Many schools require USD, CAD, AUD, GBP, or the local currency; some payment gateways let the sender pay in VND and perform the conversion under the platform’s mechanism.

9. Study-abroad transfers through MSB – compliant with regulations, with document support

MSB provides an international transfer via SWIFT service to more than 190 countries and supports advice on documents and paperwork according to the transfer purpose. The fee promotion policy can help families optimize costs when paying tuition regularly; customers need to check the current conditions before transacting.

If studying in a specific country such as Canada, customers should refer to separate country-specific guidance to prepare the correct bank routing information and required documents.

Learn more about the international transfer service and register online at msb.com.vn or through the MSB Digital Bank app.

The information in this article is for reference as of the update date and may change under State Bank of Vietnam regulations, MSB policy, or the school’s requirements. Please contact MSB at the 1900 6083 hotline or msb.com.vn for advice on your specific needs.

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