Where Are the Best Places to Exchange Vietnamese Dong?

The Vietnamese Dong (VND) is Vietnam’s official currency. Visitors must convert their home currency into VND for daily expenses. This guide explores where and how to exchange currency, both before and after arriving in Vietnam.

Exchanging Currency Outside Vietnam

Arranging for Vietnamese Dong before departure offers convenience, though exchange rates may be less favorable than in-country options. Many local banks in the United States offer foreign currency exchange services, allowing individuals to order VND. Not all banks stock less common currencies like the Dong, potentially requiring advance ordering. Major currency exchange bureaus, found in larger cities or online, also provide this service.

These services provide immediate local currency upon arrival for a seamless start. While convenient, exchange rates at these establishments often include a wider spread. Some online services might also charge delivery fees or require a minimum exchange amount. Comparing rates and fees from different providers before committing is advisable to minimize costs.

Exchanging Currency Within Vietnam

Upon arrival in Vietnam, several reputable options are available for exchanging foreign currency into Vietnamese Dong.

Currency exchange booths are available at international airports like Noi Bai in Hanoi and Tan Son Nhat in Ho Chi Minh City, offering immediate access to VND for initial expenses such as transportation. While convenient, exchange rates at airport counters are typically less competitive than options within the city. Exchange only a small amount here for immediate needs.

Major Vietnamese banks, including Vietcombank, Vietinbank, BIDV, and Agribank, provide secure currency exchange services. These banks generally offer competitive rates during business hours. A valid passport is usually required for transactions. While secure, the process may involve more formalities and potential wait times, especially in popular tourist areas.

Gold and jewelry shops are another advantageous option for exchanging currency in Vietnam. Many of these shops, particularly those located near markets or in tourist districts, offer highly competitive exchange rates, sometimes better than banks, and the process is quick with fewer requirements. Popular gold shops like Ha Tam Jewelry in Ho Chi Minh City or Quoc Trinh Gold Shop in Hanoi are known for their exchange services. Ensure the chosen shop is licensed for currency exchange, as not all are, and exercise caution to avoid potential issues.

Hotels in Vietnam also offer currency exchange services, convenient for guests. However, their exchange rates are generally less favorable than those found at banks or gold shops. Use this method primarily for small, urgent exchanges. Some hotels may also require a copy of your passport or charge a service fee.

Using ATMs for Vietnamese Dong

Automated Teller Machines (ATMs) are widely available throughout Vietnam, especially in major cities and tourist areas, offering a convenient way to obtain Vietnamese Dong. Most ATMs accept international cards, including Visa, MasterCard, and Cirrus. Withdrawals are automatically converted from your home currency to VND based on the bank’s exchange rate.

ATM withdrawal limits vary by bank and location, generally ranging from 2,000,000 VND to 10,000,000 VND per transaction. Some ATMs might cap withdrawals at 2,000,000 VND, while others, particularly those from international banks or in major cities, may allow up to 10,000,000 VND. Local ATM fees typically range from 30,000 VND to 55,000 VND per transaction, though some, like VPBank, offer fee-free withdrawals. Your home bank may also impose foreign transaction fees. Withdraw larger sums to minimize per-transaction fees.

General Advice for Currency Exchange

Before any exchange, comparing current exchange rates from various sources is important. Online currency converters can provide a reference point for the mid-market rate, helping to assess the fairness of offered rates. Be mindful of potential fees or commissions; some services may advertise “no commission” but offer less favorable exchange rates, effectively building their profit into the conversion rate.

Prioritize security during currency exchanges. Always count the received money carefully before leaving the counter and be aware of your surroundings. Avoid exchanging money with unofficial street vendors due to high scam or counterfeit currency risks. When preparing foreign currency for exchange, ensure banknotes are crisp and clean, as torn or damaged bills may be rejected or exchanged at a lower rate.

Carrying a mix of small and large denominations of VND is practical for daily transactions; smaller bills are useful for street vendors and local markets, while larger notes suit bigger purchases. Although Vietnamese Dong is the primary currency, widely accepted foreign currencies for exchange include US Dollars and Euros. Bringing these major currencies can simplify the exchange process.