Vietnam – Tips for Transferring Vietnam Dong and Carrying Money as a Traveler

Welcome back to Vietnam Around (vnaround.com) – more than a blog, we’re your Viet guide to making every aspect of your Vietnam journey stress-free. One crucial part of traveling to Vietnam is managing your money effectively. From exchanging currency to carrying cash safely, here are essential tips to ensure your trip runs smoothly.

Understanding Vietnam Dong (VND)

What is VND?
The Vietnamese Dong (VND) is the official currency of Vietnam. The currency notes are available in denominations ranging from 1,000 VND to 500,000 VND. Coins are rarely used, so expect to handle a lot of paper money.

Exchange Rate
The exchange rate for VND fluctuates but generally ranges around 23,000–25,000 VND per 1 USD. Always check the current rate before exchanging money.

Where to Exchange Money in Vietnam

1. Airports

Airports like Noi Bai (Hanoi), Tan Son Nhat (Ho Chi Minh City), and Da Nang International Airport have currency exchange counters.
Pros: Convenient for quick exchanges upon arrival.
Cons: Rates are typically less favorable compared to banks or local services.

2. Banks

Major Vietnamese banks like Vietcombank, BIDV, and Techcombank offer currency exchange services.
Pros: Secure and reliable with fair rates.
Cons: Limited hours of operation and require ID (passport).

3. Hotels

Some hotels, especially high-end ones, provide currency exchange services.
Pros: Convenient if you’re staying in a major city.
Cons: Rates are often higher than banks.

4. Gold Shops

Gold shops in cities like Hanoi and Ho Chi Minh City often offer the best exchange rates.
Pros: Highly competitive rates.
Cons: Not officially regulated; exercise caution and ask locals for trusted recommendations.

5. ATMs

ATMs are widespread in Vietnam, and you can withdraw VND directly from your debit or credit card.
Pros: Convenient and straightforward.
Cons: Withdrawal fees may apply, and daily limits range from 2,000,000 to 5,000,000 VND.

Tips for Carrying Money in Vietnam

1. Carry Small Denominations

Vendors and street food stalls may not accept large notes like 500,000 VND. Always keep smaller denominations for day-to-day transactions.

2. Split Your Money

Avoid carrying all your cash in one place. Distribute it across your wallet, bag, and a secure money belt to minimize risks.

3. Use a Money Belt or Hidden Pouch

Keep larger sums of cash and important documents like your passport in a secure money belt or hidden pouch, especially in crowded areas.

4. Be Aware of Scams

Check your change when paying with large notes to avoid being shortchanged. Learn to recognize VND denominations to avoid confusion.

5. Rely on Digital Payments Where Possible

Mobile wallets and apps like Grab allow for cashless payments in many urban areas.

How to Save on Transaction Fees

1. Use Travel-Friendly Cards

Opt for debit or credit cards that waive foreign transaction fees. Cards like Revolut or Wise are popular among travelers.

2. Withdraw Larger Amounts

Save on ATM fees by withdrawing the maximum amount allowed per transaction. Just ensure you store the cash safely.

3. Avoid Currency Conversion at ATMs

Some ATMs offer an option to convert the currency at a fixed rate. Always choose to withdraw in VND and let your bank handle the conversion.

Do’s and Don’ts for Handling Money in Vietnam

Do:

Always count your cash before leaving a currency exchange counter.
Use waterproof pouches to protect your money during boat trips or rainy days.
Carry a mix of cash and cards for flexibility.

Don’t:

Flash large sums of cash in public.
Exchange money with unauthorized street vendors.
Rely solely on cards, as cash is still king in many parts of Vietnam.

At VNAround (vnaround.com), we’re dedicated to helping you make the most of your Vietnam journey. Managing money wisely is an essential part of your travel experience, and with these tips, you’ll be well-prepared to navigate Vietnam’s vibrant economy with confidence.