Lunar New Year 2026 — the Year of the Horse — begins on February 17. For the roughly 5 million overseas Vietnamese (Việt kiều), 1.5 million Filipino-Chinese (Chinoy), and hundreds of thousands of Sino-Thai diaspora abroad, this is the moment to send lì xì (red envelope money) home. Families gather, debts are settled, and it's considered auspicious to enter the new year with a gift of cash.
But sending money during the holiday rush costs more than it should. The global average remittance fee is still 6.36% according to the World Bank (Remittance Prices Worldwide, Issue 54, Q3 2025) — meaning a $500 Tết transfer loses $31.80 to fees before it reaches your family. The gap between the best and worst provider for these corridors can be $40 or more on a single $500 transfer.
This guide covers the cheapest, fastest ways to send USD to Vietnamese dong (VND), Philippine peso (PHP), and Thai baht (THB) for Lunar New Year 2026 — with real fees, comparison tables, and timing guidance so your red envelopes arrive on time and as full as possible.
$19.3B — Remittances received by Vietnam in 2024 — Tết season drives a sharp annual spike (World Bank, 2024)
Red envelopes (called lì xì in Vietnamese, hóng bāo in Mandarin, and ang pao in Filipino-Chinese communities) are the defining Lunar New Year gift. Elders give them to children and young adults; employers give them to staff. The amounts vary by relationship: $20–50 for distant relatives, $50–200 for close family, and sometimes larger sums for parents or grandparents.
For diaspora communities abroad, the tradition has migrated seamlessly to digital transfers. Instead of physically handing over a red envelope, overseas family members send the equivalent amount via remittance app or bank transfer — often timed to arrive on or just before the Lunar New Year eve. The sentiment is the same; the mechanism is different.
The volume of transfers spikes sharply in the two weeks before Lunar New Year. Vietnam's Ministry of Finance and the State Bank of Vietnam regularly report record remittance figures in the January–February window. The Philippines sees a similar pattern: January and February are consistently among the top months for OFW remittances, as workers send extra for the holiday alongside their regular support payments.
The practical implication: the closer to February 17 you send, the more likely you are to face slower processing times and marginally wider FX spreads. Sending 7–10 days early consistently yields better results.
The USD-VND corridor is one of Southeast Asia's most competitive for fintechs. Wise, Remitly, and Western Union all support direct bank account delivery to Vietnamese banks — including Vietcombank, BIDV, Techcombank, and VPBank — typically within 1–2 business days.
Wise remains the benchmark for this corridor. Its USD-VND transfers use the mid-market exchange rate with a transparent fee of approximately 0.5–0.7% of the transfer amount (around $2.50–$3.50 on a $500 transfer). There is no hidden FX markup. Funds land in your recipient's Vietnamese bank account within 1–2 business days under normal conditions.
Remitly offers two tiers for USD-VND: Economy (1–3 days, lower fee, slightly favorable rate for larger amounts) and Express (under 4 hours, higher fee). For Tết transfers where timing matters, Remitly Express is worth considering for the final 2–3 days before the holiday. Compare the all-in cost — Remitly applies a 0.5–1% FX markup which slightly erodes the advantage of its lower headline fee.
Western Union's online platform (worldremit.com and wu.com) supports bank delivery to Vietnam with fees ranging from $5–8 per $500 transfer plus a 1.5–2% FX markup. This makes Western Union approximately $10–15 more expensive than Wise on a $500 transfer — a meaningful difference when you are sending to multiple family members.
Cryptocurrency rails for USD-VND are not yet broadly available via the major regulated off-ramp exchanges that support RemitRoutes corridors. For this corridor, Wise or Remitly Economy are the recommended options for most senders. Use RemitRoutes to compare live rates before initiating your Tết transfer.
| Provider | Transfer Fee | FX Markup | Total Cost | VND Received (est.) | Speed |
|---|---|---|---|---|---|
| Wise | $2.50–$3.50 | 0% | $2.50–$3.50 | ₫12,660,000–₫12,685,000 | 1–2 days |
| Remitly (Economy) | $2.99–$3.99 | 0.5–0.7% | $5–7 | ₫12,600,000–₫12,640,000 | 1–3 days |
| Remitly (Express) | $4.99–$6.99 | 0.5–0.7% | $7–10 | ₫12,545,000–₫12,600,000 | < 4 hours |
| Western Union (online) | $5–$8 | 1.5–2% | $12–18 | ₫12,380,000–₫12,480,000 | 1–3 days |
| US Bank Wire (SWIFT) | $35–$50 | 2–3% | $45–65 | ₫11,800,000–₫12,140,000 | 2–5 days |
Chinese New Year has been an official public holiday in the Philippines since 2012, reflecting the country's 1.5–2 million strong Chinoy (Filipino-Chinese) community. But the occasion extends beyond the Chinoy community — many OFW families also time extra transfers to coincide with the holiday. The Philippines receives more remittances than almost any country in Asia: $38.3 billion in 2024 according to the Bangko Sentral ng Pilipinas.
The USD-PHP corridor is one of the most competitive in global remittances. Remitly frequently runs promotional rates for Philippine transfers, including $0-fee first transfers and boosted rates during the holiday season. For a $500 transfer, Remitly's all-in cost (fee + FX markup) is typically $3–6, making it the cheapest traditional option for this corridor.
Wise is strong for USD-PHP as well, with 0% FX markup and fees of $2.50–$3.50 on a $500 transfer. The choice between Wise and Remitly often comes down to $1–3 in total difference — always compare live rates on RemitRoutes before sending.
Crypto rails via USDC on Stellar are available for the PHP corridor. Coinbase serves as the USD on-ramp; Coins.ph and PDAX are the regulated Philippine off-ramp exchanges. The end-to-end process involves buying USDC on Coinbase (approximately 0.5–1.5% depending on funding method), transferring to Coins.ph or PDAX via Stellar (under $0.01 network fee), and selling for PHP at the market rate. Total all-in cost on a $500 transfer runs $3–6 — comparable to Remitly at typical amounts, but potentially cheaper at larger amounts above $1,000.
The primary barrier to crypto rails for this corridor is recipient setup. Your family member needs a verified Coins.ph or PDAX account, which requires Philippine ID and takes 1–3 days to KYC-approve. If they already have an account, this is the most cost-effective option. If not, set it up well before February 17.
| Provider | Transfer Fee | FX Markup | Total Cost | PHP Received (est.) | Speed |
|---|---|---|---|---|---|
| USDC via Stellar (Coinbase → Coins.ph) | $1.50–$3 | ~0.1% | $2–4 | ₱28,620–₱28,700 | < 1 hour |
| Remitly (Economy, promotional) | $0–$2.99 | 0.3–0.5% | $2–5 | ₱28,575–₱28,670 | 1–2 days |
| Wise | $2.50–$3.50 | 0% | $2.50–$3.50 | ₱28,600–₱28,660 | 1–2 days |
| Remitly (Express) | $4.99–$6.99 | 0.3–0.5% | $6–9 | ₱28,490–₱28,575 | Minutes |
| Western Union (online) | $5–$8 | 1–1.5% | $10–16 | ₱28,290–₱28,490 | 1–3 days |
| US Bank Wire (SWIFT) | $35–$50 | 2–3% | $45–65 | ₱27,550–₱28,115 | 2–5 days |
Thailand's ethnic Chinese and Sino-Thai community — estimated at 9–14% of the population, or roughly 6–9 million people — is one of the most integrated in Southeast Asia. Chinese New Year (Trut Jeen, ตรุษจีน) is widely celebrated across Thailand, particularly in Bangkok's Chinatown (Yaowarat), Chiang Mai, and Hat Yai. Families abroad send money to parents and grandparents for the occasion.
The USD-THB corridor has fewer fintech competitors than USD-VND or USD-PHP, but Wise and Remitly both support direct bank delivery to Thai banks including Bangkok Bank, Kasikornbank (KBank), Siam Commercial Bank (SCB), and Krung Thai Bank. Processing times are typically 1–2 business days.
Wise is the strongest option for this corridor. USD-THB transfers use the mid-market rate with a fee of approximately $2.50–$3.50 on a $500 transfer and no FX markup. This typically delivers ฿17,400–฿17,450 on a $500 transfer at current exchange rates.
Remitly supports USD-THB with a 0.5–1% FX markup on top of its headline fee. For a $500 transfer, the all-in cost through Remitly Economy is typically $5–8, making it $2–4 more expensive than Wise. Remitly's advantage is speed: the Express tier delivers in under an hour, which can be useful in the final days before Lunar New Year.
Western Union and bank wires are the most expensive options and should be avoided for Lunar New Year transfers. A $500 bank wire to Thailand costs $35–50 in sending fees plus a 2–3% FX markup — delivering ฿200–400 less to your recipient than using Wise.
| Provider | Transfer Fee | FX Markup | Total Cost | THB Received (est.) | Speed |
|---|---|---|---|---|---|
| Wise | $2.50–$3.50 | 0% | $2.50–$3.50 | ฿17,420–฿17,455 | 1–2 days |
| Remitly (Economy) | $2.99–$3.99 | 0.5–0.7% | $5–7 | ฿17,345–฿17,395 | 1–3 days |
| Remitly (Express) | $4.99–$6.99 | 0.5–1% | $7–11 | ฿17,270–฿17,375 | < 1 hour |
| Western Union (online) | $5–$8 | 1.5–2% | $12–18 | ฿17,140–฿17,310 | 1–3 days |
| US Bank Wire (SWIFT) | $35–$50 | 2–3% | $45–65 | ฿16,625–฿17,080 | 2–5 days |
6.36% — Average global remittance cost Q3 2025 — the cheapest providers for these corridors cost under 1% (World Bank Remittance Prices Worldwide, Issue 54 (Q3 2025))
Wise and Remitly Economy transfers to Vietnam, Philippines, and Thailand normally take 1–2 business days. During the Lunar New Year rush (February 10–17), volumes spike and some providers extend processing times by 1–2 days. Sending by February 10 gives a comfortable buffer. For Remitly Express or crypto rails, 3–4 days is sufficient.
Some providers — particularly Western Union and traditional banks — quietly widen their FX spread in the days immediately before major holidays when demand is highest. A 0.5% markup increase on a $1,000 transfer is $5 in hidden cost. Always check the mid-market rate on Google or xe.com and compare it to what your provider is offering. If the gap is more than 1%, switch providers.
Exchange rates and fees shift daily — and during the Lunar New Year period, provider promotions and mild demand-driven spread changes make comparison more important than usual. The difference between the best and worst provider for a $500 USD-VND or USD-PHP transfer can be $15–40 in real money your family doesn't receive.
Use RemitRoutes to compare the total amount delivered in VND, PHP, or THB across all providers simultaneously. This captures the all-in cost — explicit fees and FX markup together — so you see the only number that matters: what lands in your family's account.
Tip: Always compare 'VND/PHP/THB received' — not 'fee' or 'exchange rate' in isolation. A low fee with a 2% FX markup is often worse than a $3 fee with 0% markup.
For Wise and Remitly transfers: your recipient only needs a standard bank account. For Vietnam, share the account number and branch code. For Philippines, account number and bank name. For Thailand, account number and bank code. No advance setup required.
For crypto rail transfers to the Philippines (Coins.ph or PDAX): your recipient needs a KYC-verified account. Coins.ph requires Philippine ID and takes 1–3 days to verify. If you plan to use crypto rails for Lunar New Year, have your recipient start the Coins.ph or PDAX registration by February 10 at the latest.
If your recipient already has a verified account on any provider, use that as your baseline and compare whether a different method is cheaper for this specific transfer.
Remitly, Western Union, and MoneyGram typically run Lunar New Year promotions in late January and early February. These take the form of zero-fee first transfers for new users, rate boosts for 24–48 hour windows, or referral bonuses that effectively lower your cost.
Follow your shortlisted providers on their apps or subscribe to push notifications by early February. Even a promotional 0.5% rate boost is worth $2.50 on a $500 transfer — and zero-fee promotions for first-time users can reduce total cost to near zero.
Important caveat: always benchmark a promotional rate against Wise's standard rate. A 'zero fee' promotion with a 2% FX markup delivers less VND than Wise with a $3 fee and 0% markup on transfers above $150. Do the math before assuming a promotion is better.
For USD-PHP senders who want the lowest all-in cost and have a recipient comfortable with setup, crypto rails via USDC on Stellar provide a compelling option. Here is the end-to-end flow:
On-ramp (US): Buy USDC on Coinbase using your USD bank account. Coinbase charges approximately 1.5% for instant debit/credit card purchases, or ~0% for ACH bank transfers (ACH takes 1–3 business days to settle). For a Lunar New Year transfer, fund your Coinbase account via ACH at least one week before you plan to send — by February 10 at the latest.
Transfer: Send USDC from your Coinbase wallet to your recipient's Coins.ph or PDAX wallet address on the Stellar network. The Stellar network fee is under $0.01 and the transfer settles in 3–5 seconds.
Off-ramp (Philippines): Your recipient sells USDC for PHP on Coins.ph or PDAX at the current market rate. Coins.ph charges approximately 0.1–0.5% on the USDC-PHP trade. Your recipient can then withdraw PHP to their Philippine bank account (BPI, BDO, UnionBank, GCash) or use the funds directly in the Coins.ph wallet for mobile payments.
Total time from USDC transfer to PHP in a Philippine bank account: 30 minutes to 3 hours. Total all-in cost on $500: approximately $2–5, including Coinbase on-ramp and Coins.ph off-ramp fees. This compares to $10–18 for Western Union and $45–65 for a bank wire.
Vietnam: Bank delivery is the standard method. Vietnamese banks that commonly receive international transfers include Vietcombank, BIDV, Techcombank, MB Bank, and VPBank. Your recipient needs their account number and branch code. Transfers from Wise typically appear in 1–2 business days; Remitly Economy within 1–3 days. There is no receiving fee charged to the Vietnamese recipient by most banks for inward international remittances, though some banks may hold the funds for up to 24 hours for compliance review on larger amounts.
Philippines: Most Philippine banks accept international transfers via SWIFT. The most commonly used are BDO, BPI, Metrobank, Landbank, and UnionBank. Your recipient needs their account number and the bank's SWIFT code. For Coins.ph or GCash wallets, your recipient shares their wallet number directly. Transfers from Remitly and Wise typically settle within 1–2 business days to Philippine bank accounts.
Thailand: Bangkok Bank, KBank, SCB, and Krung Thai Bank all accept inward international transfers. Your recipient needs their 10-digit account number and the bank's SWIFT code. Wise transfers to Thailand typically settle in 1–2 business days. Thailand's Bank of Thailand requires banks to report inward transfers above THB 2 million (approximately $57,000) — well above typical red envelope amounts, so no compliance issue for standard transfers.
Tax note: In all three countries, money received from abroad as a family gift is generally not subject to income tax below certain thresholds. However, large amounts may trigger bank compliance reviews. For typical Lunar New Year gift amounts of $200–1,000, no special documentation is required.
Enter your send amount and destination currency — VND, PHP, or THB — to see real-time fees from Wise, Remitly, crypto rails, and more. The total delivered amount is shown side by side so you can see exactly how much your family receives.
Lunar New Year 2026 — the Year of the Horse — falls on February 17, 2026. The holiday period typically spans 15 days, concluding with the Lantern Festival on March 3. In Vietnam, Tết (Tết Nguyên Đán) begins on the same date and is the most important holiday of the year. In the Philippines, Chinese New Year is an official public holiday. In Thailand, Trut Jeen is widely celebrated especially in Bangkok's Chinatown.
Wise is the cheapest option for USD-VND transfers, with a total all-in cost of approximately $2.50–$3.50 on a $500 transfer and 0% FX markup. Remitly Economy is a close second at $5–7 all-in. Both are far cheaper than Western Union ($12–18) or bank wires ($45–65). Use RemitRoutes to compare live rates before sending.
Crypto rails via USDC on Stellar (Coinbase → Coins.ph or PDAX) are the cheapest at $2–4 all-in on a $500 transfer, but require your recipient to have a verified Coins.ph or PDAX account. For direct bank delivery, Remitly (with promotional rates) and Wise both cost $2.50–$5 all-in — far cheaper than Western Union ($10–16) or bank wires ($45–65).
Wise typically delivers in 1–2 business days for all three corridors. Remitly Economy takes 1–3 days; Remitly Express delivers in under an hour for the Philippines. Crypto rails via Stellar settle in under 30 minutes for the blockchain leg, with 1–3 hours for off-ramp to local bank account. During the Lunar New Year rush (February 10–17), add 1–2 days as a buffer for bank-based methods.
Send early — by February 10 at the latest. Exchange rates for VND, PHP, and THB are relatively stable against the USD and do not move dramatically in short windows. The risk of a delay causing your transfer to arrive after Tết outweighs any potential rate improvement from waiting. If you want to optimize for rate, compare providers now and send with the best available rate today rather than gambling on a better rate closer to the holiday.
Red envelope amounts are a personal and cultural decision — not a financial one we can prescribe. Common ranges are $20–50 for distant relatives, $50–200 for close family, and larger amounts for parents and grandparents depending on your circumstances. What we can help with is ensuring that whatever amount you decide to send, as much of it as possible reaches your family rather than being lost to fees.
For typical Lunar New Year gift amounts (under $10,000): no special reporting is required by you. US financial institutions automatically file Currency Transaction Reports (CTRs) for transactions over $10,000 — this is the bank's responsibility, not yours, and does not require any action. For transfers under $10,000, there is no reporting obligation. On the receiving side, Vietnam, Philippines, and Thailand have their own inward remittance reporting rules for very large amounts (well above typical gift amounts).
Yes. Several providers support GCash wallet delivery to the Philippines, including Remitly and Western Union. GCash delivery is often faster than bank transfer — funds can appear in the GCash wallet within minutes for Remitly Express. From GCash, your recipient can send to bank accounts, pay bills, or use for QR payments. The GCash app is available on iOS and Android and requires a Philippine mobile number and basic KYC verification.
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