What Banks Sell Vietnamese Dong? Here’s Where to Exchange

The Vietnamese Dong (VND) is Vietnam’s official currency. This article guides you on how and where to obtain VND for your visit or financial transactions, ensuring efficient currency exchange.

Obtaining Vietnamese Dong Through Banks

You can obtain Vietnamese Dong through traditional banking institutions, both from your home country and once you arrive in Vietnam. In the United States, major national or international banks may offer VND, though it is not held in stock. You will need to place a special order for VND in advance, often requiring several business days for the currency to arrive. Smaller banks or local credit unions are less likely to provide this service.

Upon arrival in Vietnam, you can exchange foreign currency for VND at local banks, such as Vietcombank, Agribank, or BIDV, or at international banks with branches in major Vietnamese cities. These banks offer official exchange rates and operate during standard business hours. You will need to present your passport for identification, and a valid visa may also be requested, depending on your nationality and the duration of your stay.

Other Places to Exchange Currency for Vietnamese Dong

Beyond traditional banks, other locations offer currency exchange services for Vietnamese Dong. Bureaus like Travelex or independent operators are available in major cities and tourist areas. They often have convenient operating hours, though their exchange rates and fees can vary. Compare rates before exchanging.

International airports in your departure country and Vietnam have currency exchange counters. While convenient upon arrival or before departure, their exchange rates are less favorable compared to banks or city-based bureaus. Some hotels, especially larger establishments, provide currency exchange services for their guests, but these rates are less competitive than those offered by banks or dedicated exchange bureaus.

ATMs are available across Vietnam, particularly in urban centers and tourist destinations. Using an international debit or credit card, you can withdraw VND directly. Check with your home bank about potential international transaction fees (which range from 1% to 3% of the withdrawal amount) and daily withdrawal limits.

Key Factors for Currency Exchange

To make informed decisions about currency exchange, understand the factors that affect the value you receive. Compare current exchange rates using online converters or by checking official bank rates. Distinguish between the interbank rate, which banks use for large transactions, and the tourist exchange rate, which includes a markup. Inquire about any associated fees and commissions before completing a transaction.

Fees can include flat transaction charges or a percentage-based commission on the exchanged amount. When using ATMs, you may encounter both your home bank’s foreign transaction fee and a local ATM operator fee, which ranges from 20,000 to 50,000 VND per transaction.

For safety and security during currency exchange, use reputable sources, such as licensed banks or established exchange bureaus. Avoid exchanging money with unauthorized street vendors due to risks like counterfeit currency or unfavorable rates. Exchange a small amount of currency before your trip for immediate needs upon arrival, then utilize ATMs or other exchange options as needed. This approach helps manage risk and ensures you do not carry excessive amounts of cash. Credit cards and mobile payment options are increasingly accepted in urban areas of Vietnam, offering alternatives to cash transactions.