MoMo review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
MoMo is a digital wallet for people living in Vietnam who want everyday payments handled from a phone rather than a branch. It charges a monthly fee of VND 0 and holds a State Bank of Vietnam licence, and it covers 1 currency, which points to a local account.
Key facts
- Best for
- Everyday spending and transfers inside Vietnam, run from a phone.
- Monthly fee
- ₫0↗
- Currency conversion fee
- 2%↗
- Currencies
- 1↗
- Free ATM withdrawals
- ₫30,000,000↗
- Transfer fee
- Bank cash-out free up to 30,000,000 VND per month, then 0.5% of transaction value; 1% of transaction value once the monthly total exceeds 100,000,000 VND↗
- Legal entity
- Mobile Services Joint Stock Company (M_Service JSC)↗
- Headquarters
- Vietnam↗
- Founded
- 2007↗
- Support channels
- Phone, Email, Help-centre, Chat↗
- Audience
- Teens, Students, Business
- Pricing model
- No monthly fee
- Features
- Digital-only
- Official website
- momo.vn
Money transfer
Facts checked September 26, 2026, 5 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
- Elsewhere
- WikidataLinkedInfacebook.com
Pros and cons
Pros
- No monthly charge, listed at VND 0 for the everyday account
- Transfers land Instant, so payments and payouts clear quickly
- Cash-out reaches banks, pick-up points and wallets through bank, cash pickup and wallet
- A free ATM allowance of VND 30,000,000 covers everyday withdrawals
Cons
- Currency conversion costs 2%, above the site median of 0.5%
- Only 1 currency is covered, against a site median of 5
- The account is digital only, so there is no branch to visit
Who it suits
- Teenagers and students who pay and receive money by phone
- Small businesses in Vietnam taking daily payments from customers
- Anyone who wants money to move instantly inside the country
Who should look elsewhere
- Skrill or Plazo ES, euro wallets at a €0 monthly fee for another market
- PayPal Colombia, whose cross-border reach suits international payments more than local ones
- Anyone who wants a branch to visit, since the account is digital only
Fees and currency costs
MoMo lists a monthly fee of VND 0 and a transfer fee of VND 0, so holding the account costs nothing. Conversion is the charge that matters, at 2%, above the site median of 0.5% and ranking 214 of 312 on this measure. Bank cash-out stays free up to a monthly allowance, then a percentage of the transaction value applies, with a higher percentage at higher monthly totals.
How MoMo compares
8.8 vs 8.7
8.8 vs 8.6
8.8 vs 8.0
8.8 vs 8.9
8.8 vs 9.1
8.8 vs 9.2
8.8 vs 8.7
8.8 vs 8.7
8.8 vs 8.7
8.8 vs 9.0A €0 monthly fee for a multi-currency wallet, against an account at home running digital only.
8.8 vs 8.7
8.8 vs 9.5
8.8 vs 9.4
8.8 vs 9.3
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.2
8.8 vs 9.1
8.8 vs 9.0
8.8 vs 9.0
MoMo vs PagBank8.8 vs 8.9
8.8 vs 8.9- 8.8 vs 8.9
8.8 vs 8.7
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.4
8.8 vs 8.3
8.8 vs 8.2
8.8 vs 8.1- 8.8 vs 8.1
8.8 vs 8.0
8.8 vs 8.0
8.8 vs 8.0
8.8 vs 9.1
Where MoMo is available
- Available
- Vietnam
- Licence in Vietnam
- State Bank of Vietnam (Ngan hang Nha nuoc) (16/GP-NHNN), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
Does MoMo charge a monthly fee?+
No. The monthly fee is VND 0, and the service runs on a no-monthly-fee model. The transfer fee is also listed at VND 0, with charges applying only once cash-out allowances are passed. The free tier is what most everyday users rely on.
What does it cost to change currency?+
Currency conversion costs 2%. That is above the 0.5% median across the brands on the site, and MoMo sits at 214 of 312 on this measure, so conversion is the weak point of an otherwise free service.
How many currencies can I hold?+
MoMo covers 1 currency. The median across the site is 5 and the widest accounts reach 350, so this sits at the bottom of the range for anyone holding or sending foreign money.
Is the money safe and who regulates MoMo?+
MoMo runs under Mobile Services Joint Stock Company (M_Service JSC) and holds a State Bank of Vietnam licence, listed as 16/GP-NHNN. The account is digital only and support runs on phone, email and help centre, so help is reachable from the app.
How do I get money out of the account?+
Cash-out options are listed under bank, cash pickup and wallet: to a bank account, as cash at a pick-up point, or to a wallet. Transfers land Instant, and a free ATM allowance of VND 30,000,000 covers everyday cash withdrawals.
What do cash-outs to a bank cost?+
Bank cash-out is free up to a monthly allowance, then a percentage of the transaction value applies, and a higher percentage is charged once the monthly total crosses a larger threshold. The headline transfer fee is listed at VND 0.
Is there a branch I can visit?+
No. The account is digital only, so everything runs through the app and no branch visit forms part of the service. Head office is in Vietnam, the market it serves, and support is available on phone, email and help centre.
What support can I reach?+
Support runs on phone, email and help centre, covering phone, email, a help centre and chat. That is a broad set of channels for a digital only service, and phone support matters for anyone who would rather not start in the app.
Sources
- momo.vn checked September 26, 2026
Backs: Headquarters
“Trụ sở chính: Tầng 6, Tòa nhà Phú Mỹ Hưng, Số 8, đường Hoàng Văn Thái, Phường Tân Mỹ, Thành phố Hồ Chí Minh”
- momo.vn/dieu-khoan-dieu-le checked September 26, 2026
Backs: Currencies
“Tài Khoản Ngân Hàng Liên Kết: là tài khoản thanh toán bằng đồng Việt Nam hoặc thẻ ghi nợ gắn với tài khoản thanh toán bằng đồng Việt Nam”
- momo.vn/hoi-dap checked September 26, 2026
Backs: Delivery time, Payout methods, Fee to send 1,000
“Chuyển - nhận tiền tức thì”
- momo.vn/dieu-khoan-dieu-le checked September 26, 2026
Backs: Audience, Features, Founded, Legal entity, Support channels
“Trường hợp Người Sử Dụng từ đủ 15 tuổi đến chưa đủ 18 tuổi ... việc đăng ký, mở và sử dụng tài khoản được thực hiện theo điều kiện, phương thức và quy trình áp dụng của MoMo”
- momo.vn/hoi-dap checked September 26, 2026
Backs: Free ATM withdrawals, Currency conversion fee, Pricing model, Monthly fee, Transfer fee, Licences
“Phí rút tiền về ngân hàng: Miễn phí nếu tổng số tiền bạn rút trong tháng không quá 30 triệu đồng”
Compiled from 5 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Licence type, Deposit protection.