Hidden Fees, 0 Transparency, Crypto Beginners Beware
This app is recommended by many, but very few mention the extremely high hidden fees. If LocalPay was transparent, it would be better. They hide the fees in the exchange rate, but have the listed fees as much lower. For example, if I attempt to buy $200 USD, I will only receive $188 in return, despite the fees saying only $4. This is a literal example from today I just experienced. $12 difference that isn’t clearly labeled. But you’d probably choose a different app if you knew how much they were charging you. Additionally, I used their cashapp funding source and the wallet address gave me USDC… except LocalPay only works on USDT. I had to attach it to an external wallet to swap the coins. Luckily, I’m knowledgable in crypto, but for a beginner, I can imagine this would be a disaster. There are other apps that work better with more simplicity and ease. Any app focused primarily on cutesy branding and emojis is committing some form of exploitation. Beware.
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Hi
Great
Fees
Unable to top up without expensive fees
SUPER HIGH FEES!!!!
Hidden exchange-rate markup — the “fee” they show you is not the real cost. ⭐
Be very careful with LocalPay. The fee they display is tiny and misleading — the real cost is buried in a marked-up exchange rate, and it adds up fast.
I sent 20,000,000 VND. At the real market rate (26,322 VND/USD) that’s worth about $760. LocalPay charged me $806.47. The app proudly listed a “$7.26 fee” — but I actually overpaid by $46.66, around 6%. So where did the other ~$39 go? Straight into a worse-than-market exchange rate they don’t disclose.
This wasn’t a one-off. I checked several transfers in the same period and the all-in cost ran from about 1% on a tiny amount up to 6%+ on the larger ones. The bigger the transfer, the more they quietly take. The displayed “fee” has almost nothing to do with what you actually lose.
Worst part: customer support never replied and just closed my ticket.
If you’re sending real money to Vietnam, calculate the effective rate yourself (VND sent ÷ USD charged) before trusting the fee they show you. You’ll likely find a much better deal elsewhere. The competitor has lower fees and it’s stated clearly
Also don’t forget about the on priority cost, which cost $.32 every single transaction regardless of cost so if you sent a dollar it’ll cost $.32 with an additional terrible market rate.
Be very careful with LocalPay. The fee they display is tiny and misleading — the real cost is buried in a marked-up exchange rate, and it adds up fast.
I sent 20,000,000 VND. At the real market rate (26,322 VND/USD) that’s worth about $760. LocalPay charged me $806.47. The app proudly listed a “$7.26 fee” — but I actually overpaid by $46.66, around 6%. So where did the other ~$39 go? Straight into a worse-than-market exchange rate they don’t disclose.
This wasn’t a one-off. I checked several transfers in the same period and the all-in cost ran from about 1% on a tiny amount up to 6%+ on the larger ones. The bigger the transfer, the more they quietly take. The displayed “fee” has almost nothing to do with what you actually lose.
Worst part: customer support never replied and just closed my ticket.
If you’re sending real money to Vietnam, calculate the effective rate yourself (VND sent ÷ USD charged) before trusting the fee they show you. You’ll likely find a much better deal elsewhere. The competitor has lower fees and it’s stated clearly
Also don’t forget about the on priority cost, which cost $.32 every single transaction regardless of cost so if you sent a dollar it’ll cost $.32 with an additional terrible market rate.
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Great to use
The interface looks good. I used it while traveling and it helped me a lot
Good app, bad exchange rate
The app itself is good and works flawlessly. But the exchange rate is ridiculous and it makes no sense to use it on a daily basis.
I use it just as a back up, but wouldn’t recommend to anyone as a main way to pay in Vietnam.
I use it just as a back up, but wouldn’t recommend to anyone as a main way to pay in Vietnam.
SUPER HIGH FEES!!!!
Hidden exchange-rate markup — the “fee” they show you is not the real cost. ⭐
Be very careful with LocalPay. The fee they display is tiny and misleading — the real cost is buried in a marked-up exchange rate, and it adds up fast.
I sent 20,000,000 VND. At the real market rate (26,322 VND/USD) that’s worth about $760. LocalPay charged me $806.47. The app proudly listed a “$7.26 fee” — but I actually overpaid by $46.66, around 6%. So where did the other ~$39 go? Straight into a worse-than-market exchange rate they don’t disclose.
This wasn’t a one-off. I checked several transfers in the same period and the all-in cost ran from about 1% on a tiny amount up to 6%+ on the larger ones. The bigger the transfer, the more they quietly take. The displayed “fee” has almost nothing to do with what you actually lose.
Worst part: customer support never replied and just closed my ticket.
If you’re sending real money to Vietnam, calculate the effective rate yourself (VND sent ÷ USD charged) before trusting the fee they show you. You’ll likely find a much better deal elsewhere. The competitor has lower fees and it’s stated clearly
Be very careful with LocalPay. The fee they display is tiny and misleading — the real cost is buried in a marked-up exchange rate, and it adds up fast.
I sent 20,000,000 VND. At the real market rate (26,322 VND/USD) that’s worth about $760. LocalPay charged me $806.47. The app proudly listed a “$7.26 fee” — but I actually overpaid by $46.66, around 6%. So where did the other ~$39 go? Straight into a worse-than-market exchange rate they don’t disclose.
This wasn’t a one-off. I checked several transfers in the same period and the all-in cost ran from about 1% on a tiny amount up to 6%+ on the larger ones. The bigger the transfer, the more they quietly take. The displayed “fee” has almost nothing to do with what you actually lose.
Worst part: customer support never replied and just closed my ticket.
If you’re sending real money to Vietnam, calculate the effective rate yourself (VND sent ÷ USD charged) before trusting the fee they show you. You’ll likely find a much better deal elsewhere. The competitor has lower fees and it’s stated clearly
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Works
I use the wallet to pay in Vietnam and works perfectly fine transactions fees aren’t to bad maybe like 10 cents for a $8 transaction
Best
Very very best
Response from developer
Thanks, really appreciate your feedback
Trash
Nothing works as intended
High Fees
LocalPay is an easy to use app, can top up with Apple Pay and supports most QR codes in Vietnam. However, I find the fees too high.
0.32c USD for an “on chain priority fee” when most purchases are only 1-2USD is close to 30% surcharge.
Also, you have to deal with a conversion rate to usd, then to USDC, then to VND/Local currency, mix that with the fees, and the price really starts to add up for a budget traveller. That said, the app works well for its purpose.
0.32c USD for an “on chain priority fee” when most purchases are only 1-2USD is close to 30% surcharge.
Also, you have to deal with a conversion rate to usd, then to USDC, then to VND/Local currency, mix that with the fees, and the price really starts to add up for a budget traveller. That said, the app works well for its purpose.
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hidden fees
There are a lot of hidden fees. I don't recommend using this app
best app helped me send gift’s to my gf best best
best even when you dont have a visa or master card you can use this for paying i love it alot
Response from developer
Thanks, really appreciate your feedback
A great app but be aware.
You cant top up using a bank or cards if you “live” inside Vietnam, only crypto from an exchange or another person.
Residency outside US: You need an exchange or another person to send you crypto.
Residency inside US: You can top up using your US local bank or cards to use while traveling abroad.
Residency outside US: You need an exchange or another person to send you crypto.
Residency inside US: You can top up using your US local bank or cards to use while traveling abroad.
