Updated October 13, 2026 · VaultCue Editorial Team
MoMo vs TrueMoney
MoMo
Higher score in this comparison
TrueMoney
What sets them apart
| Compare | MoMoReviewSee alternativesSee alternatives | TrueMoneyReviewSee alternativesSee alternatives |
|---|---|---|
| Monthly fee | ₫0 | THB 0 |
| 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 | No fee for transfers between TrueMoney accounts |
| Currency conversion fee | 2% | Not confirmed |
| Currencies | 1 | Not confirmed |
| Free ATM withdrawals | ₫30,000,000 | Not confirmed |
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Key differences
- Founded is lower at TrueMoney: 2003 vs 2007.
- TrueMoney is available in 5 more countries.
- Support channels: only MoMo offers Help centre.
Our verdict on each
MoMo
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.
TrueMoney
TrueMoney offers everyday account use with an easy-access savings choice inside one app, rather than keeping daily money and saving intentions apart. People exploring simple structures for daily money will find a clear outline of what to check before deciding.
Score breakdown
| Area | MoMo | TrueMoney |
|---|---|---|
| Cost | 8.6The monthly fee is VND 0 and the transfer fee is VND 0, but conversion at 2% sits above the site median of 0.5%. | 9.3Higher |
| Offer | 9.0 | 9.2Higher |
| Trust | 8.8 | 8.9Higher |
How they place
| Ranking | MoMo | TrueMoney |
|---|---|---|
| Money transfer services | 352 of 1564 | 1342 of 1564 |
Every fact side by side
| Fact | MoMo | TrueMoney |
|---|---|---|
| Audience | Teen, Student, Business | Not confirmed |
| Pricing model | No monthly fee | No monthly fee |
| Features | Digital only | Not confirmed |
| Legal entity | Mobile Services Joint Stock Company (M_Service JSC) | True Money Company Limited |
| Headquarters | Vietnam | Thailand |
| Founded | 2007 | 2003Lower |
| Support channels | Phone, Email, Help centre, ChatCovers more | Email, Phone, Chat |
Money transfer
| Fact | MoMo | TrueMoney |
|---|---|---|
| Delivery time | Instant | Not confirmed |
| Payout methods | Bank, Cash pickup, WalletCovers more | Cash pickup |
| Fee to send 1,000 | ₫0 | Not confirmed |
Savings
| Fact | MoMo | TrueMoney |
|---|---|---|
| Headline rate | Not confirmed | 0.1% to 1% |
| Rate type | Not confirmed | Variable |
| Minimum deposit | Not confirmed | THB 0 |
| Access terms | Not confirmed | On-demand savings (ออมทรัพย์) account opened in the TrueMoney app and held at Kasikornbank, no minimum top-up, interest credited 30 June and 31 December each year |
| Account kind | Not confirmed | Easy access |
Where each stands against the rest
| Fact | MoMo | TrueMoney | Median |
|---|---|---|---|
| Currency conversion fee | 2%above the median | Not confirmed | 0.5% |
| Currencies | 1lowest quarter | Not confirmed | 5 |
Median across 536 listed accounts.
Pros and cons
MoMo
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
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
TrueMoney
Pros
- Easy-access savings sits alongside everyday money in the TrueMoney app
- Account opening happens inside the TrueMoney app for daily use
- Everyday account design keeps saving intention visible during daily money use
Who each suits
MoMo
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
TrueMoney
Who it suits
- People wanting everyday money and savings together
- Beginners seeking simple easy-access structures
Current offers
MoMo
Current offer
Country by country
| Country | MoMo | TrueMoney |
|---|---|---|
| Cambodia | No | Yes |
| Indonesia | No | Yes |
| Myanmar | No | Yes |
| Philippines | No | Yes |
| Thailand | No | Yes |
| Vietnam | Yes | Yes |
Questions about each
MoMo
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.
TrueMoney
What does TrueMoney offer for everyday money?+
TrueMoney provides everyday account use with an easy-access savings choice for daily money goals. You keep awareness of spending and intention to save in one app view. Check how that structure matches the way you organise money each month.
Who is the easy-access option suited to?+
The easy-access choice suits people who prefer flexible saving alongside everyday money. It gives beginners a simple structure with clear purposes for short term needs. Review whether this combined approach supports habits you want to keep.
Other options to compare
Other matchups
Related by the facts
MoMo
TrueMoney