What About Money in Vietnam

Tourists visiting Vietnam love to joke about walking away from the money changers as “instant millionaires.” The Vietnamese dong (VND), Vietnam’s official currency, comes in polymer and cotton notes with multiple zeroes. VND 10,000 is the smallest polymer bill you’ll commonly find on the street these days; however, there are still cotton VND 1,000, VND 2,000, and VND 5,000 bills in circulation. The highest-denomination banknote is the VND 500,000 bill.

Getting a grip on all those zeroes can be challenging for a first-time visitor to Vietnam. With a little time and practice, buying and spending Vietnamese dong becomes second nature. A trip abroad always takes quite a bit of preparation. When you read up on your destination in advance, check the daily limits on your cards, and activate your cards for overseas use, you’ll be well prepared and less likely to encounter surprises while traveling around Vietnam.

Where to Change Your Money

Major currencies can be exchanged practically anywhere in Vietnam, but not all exchange facilities are created equal. Banks and airport money changers may offer different rates and fees compared with authorized exchange counters, so it pays to compare rates before exchanging dollars or other currencies for Vietnamese dong.

1. Banks

Major banks such as Vietcombank can exchange Vietnamese dong and a range of major foreign currencies, including US dollars, Euros, British Pounds, Japanese Yen, Thai Baht, and Singapore dollars. Banks in major cities such as Hanoi and Ho Chi Minh City generally provide foreign currency exchange services.

Note: Always bring notes that are in good condition. Damaged, torn, marked, or excessively worn foreign banknotes may be rejected or exchanged under different conditions.

2. Hotels

Exchange services vary between hotels. Larger hotels may provide convenient currency exchange services, while smaller hotels may charge additional fees or offer less competitive exchange rates. Always check the exchange rate and any applicable fees before completing a transaction.

3. Gold and Jewelry Shops

Some gold and jewelry shops may offer currency exchange services and competitive rates. However, travelers should use only businesses that are legally authorized to provide foreign currency exchange services.

In major tourist areas of Hanoi and Ho Chi Minh City, you may find numerous exchange options. Always check the displayed rate and confirm the amount you will receive before completing the transaction.

4. Finding and Using ATMs

ATMs are widely available in Vietnam’s major cities and increasingly common in smaller towns and tourist destinations. However, when traveling to remote areas, it is advisable to withdraw sufficient cash beforehand.

Whether withdrawing cash from an ATM is better than exchanging foreign currency depends on your bank’s international withdrawal fees, the ATM operator’s fees, and the applicable exchange rate.

If you’re spending more than a few days in Vietnam, carrying your entire travel budget in cash increases the risk of loss or theft. Withdrawing smaller amounts periodically from an ATM can therefore be a convenient alternative.

5. Fees and Charges Vary

ATM withdrawal limits and fees vary depending on the bank and the type of card being used. Your home bank may also charge an international withdrawal or foreign transaction fee.

Before confirming a withdrawal, check the ATM screen for any fees and withdrawal limits. Since several million Vietnamese dong can quickly become a thick wad of cash, take care when withdrawing and carrying large amounts.

6. Using Credit Cards

Cash is still widely used in Vietnam, although credit and debit cards are accepted at many restaurants, hotels, shopping centers, convenience stores, and other businesses, particularly in major cities and tourist destinations.

Visa and Mastercard are among the most commonly accepted international cards. Other international cards may also be accepted depending on the merchant.

Some merchants or card issuers may apply transaction or foreign currency conversion fees, so travelers should check the applicable conditions with their bank before traveling.

Can US Dollars Be Used?

Vietnamese dong (VND) is the official currency and should be used for everyday payments in Vietnam. Travelers are generally better off exchanging foreign currency through banks or authorized foreign exchange providers.

Using Vietnamese dong also makes it easier to compare prices and avoid confusion when making purchases. Keeping a small amount of foreign currency as an emergency reserve can still be useful.

Digital and Online Payments

Digital payments have become increasingly common in Vietnam. International travelers may be able to use credit cards, debit cards, international payment services, or other supported digital payment methods depending on the merchant.

PayPal is an international online payment and money transfer service that can be linked to a credit card, debit card, or bank account. Availability and acceptance vary between businesses, so travelers should not rely on PayPal as their primary payment method while traveling in Vietnam.

It is always advisable to have more than one payment option available, such as a bank card plus a reasonable amount of Vietnamese dong in cash.

Do You Need to Tip in Vietnam?

Tipping is not traditionally mandatory in Vietnam, but it is increasingly appreciated in the tourism and hospitality industry.

Some hotels and restaurants may include a service charge in the bill. Where a service charge is already included, additional tipping is optional.

For tour guides, drivers, hotel staff, and restaurant staff, a small tip is a thoughtful way to show appreciation when you have received excellent service or had a great experience.

Bargaining

Bargaining is common in some traditional markets, souvenir shops, and tourist areas in Vietnam, although it is not appropriate everywhere.

Prices in supermarkets, shopping malls, convenience stores, restaurants with menus, and many modern retail stores are normally fixed.

At traditional markets, you can politely ask for a better price before purchasing. Keep the negotiation friendly and respectful. If you cannot agree on a price, simply thank the seller and move on.

How Much to Budget Per Day

The amount you need per day in Vietnam depends considerably on your travel style, destination, accommodation, transportation, and activities.

Budget travelers can keep costs relatively low by choosing local accommodation, street food, public transportation, and inexpensive attractions. Mid-range travelers can enjoy comfortable hotels, good restaurants, private transportation, and organized tours while still finding Vietnam relatively good value compared with many international destinations.

Street food is one of Vietnam’s great travel experiences and can be both affordable and delicious. Hanoi, Ho Chi Minh City, Hoi An, Hue, and many other destinations offer an extraordinary variety of local dishes at reasonable prices.

Domestic travel is also convenient, with several airlines serving routes between Vietnam’s major destinations. Vietnam Airlines and Vietjet Air operate extensive domestic networks, while trains, buses, private cars, and other transportation options make it possible to explore the country at different budgets.

More Vietnam Money Tips

Don’t mistake one bill for another. With multiple zeroes and some denominations having similar colors, Vietnamese banknotes can initially be confusing. Take a moment to check the denomination before handing over cash.

Be careful with polymer notes. Vietnamese polymer banknote