How To Exchange Money In Vietnam: A Travel Guide

Planning your trip to Vietnam? Then mastering how to exchange money in Vietnam is one travel skill you’ll absolutely want in your pocket. In this essential guide, you’ll learn everything from the best currency exchange locations in Ho Chi Minh City and Hanoi to smart strategies for using ATMs, avoiding scams, and getting the most dong for your dollar. Whether you're googling "currency converter near me" or scouting for the best money exchange in Saigon, we’ve got you covered.

1. Understanding Vietnamese Currency (VND)

Vietnam’s official currency is the Vietnamese Dong (VND), symbolized by ₫. The currency can seem a bit intimidating at first, especially when you're handling notes with a lot of zeros. But don’t worry — we’ll make it simple.

Denominations You’ll Use

The VND comes in a range of bills:

• Paper notes: 1,000 VND, 2,000 VND, 5,000 VND
• Polymer notes: 10,000 VND, 20,000 VND, 50,000 VND, 100,000 VND, 200,000 VND, 500,000 VND

Be careful — the 20,000 VND and 500,000 VND notes can look quite similar in dim light. Organize your wallet carefully to avoid mix-ups.

Quick Conversion Tips

Just drop three zeros and divide by 23 to convert to USD. For example, 230,000 VND is roughly 10 USD. This trick will serve you well as you pay for that bowl of phở or grab souvenirs from the markets.

2. Should You Exchange Before Arrival or In-Country?

Here’s a golden rule: if you’re wondering how to exchange money in Vietnam, it’s almost always better to wait until you arrive.

Exchange Before Arrival

• Gives you peace of mind for that first cab ride
• But exchange rates are often weaker and availability is limited

Exchange in Vietnam

• Major cities like Hanoi and Ho Chi Minh City offer far better rates
• More options: banks, ATMs, gold shops, shopping malls

Just make sure the cash you bring is clean and undamaged. Vietnamese banks and money changers often reject torn, scribbled, or wrinkled bills — a key detail from countless Vietnam travel tips & review articles.

3. Top Places to Exchange Money in Vietnam

This is where things get exciting. Whether you're hunting for the best money changer Ho Chi Minh City, looking up “foreign exchange near me,” or exploring currency exchange Hanoi, these are your top picks:

A. Banks

For secure and transparent service, banks are always a reliable choice. Look for:

• Vietcombank
• BIDV
• Agribank
• Vietinbank
• Techcombank

Banks operate Monday to Friday, 8 AM – 4 PM. You’ll need your passport and sometimes a small form. Exchange rates are clearly posted, and you’ll always get a receipt — perfect for those needing documentation or proof of exchange.

However, if you're in a rush or prefer speed, banks might feel a bit slow. Queues can be long, especially in busy tourist districts like Ben Nghe Ward District.

B. Currency Exchange Counters

Found in airports, hotels, and shopping malls, these counters are convenient — especially after a long flight.

• Great for a quick currency converter in Ho Chi Minh
• But not always the best exchange rate
• Ideal for exchanging just enough for a taxi or snack

Avoid large exchanges at airport counters unless absolutely necessary.

C. ATMs

Want VND straight from the source? ATMs are plentiful across major cities and even in small towns.

• Accepts most international cards (Visa, Mastercard, Cirrus)
• Offers live conversion at current rates

Typical maximum ATM withdrawal Vietnam ranges from 2 to 10 million VND per transaction. Some of the best options include:

• Military Bank (no local fees)
• HSBC, Citibank (international-friendly)

Be aware of foreign transaction fees and ATM surcharges. Always withdraw larger amounts at once to minimize charges.

D. Gold & Jewelry Shops

Welcome to Vietnam’s hidden gem in money matters. Gold and jewelry shops, especially in places like Ha Trung Street in Hanoi and Cong Quynh Street or Ben Thanh Ward District in Ho Chi Minh City, often offer some of the best rates.

• No paperwork, no waiting
• Favorable rates compared to banks or hotels
• Used frequently by expats and informed travelers

Some trusted names include:

• Ha Tam Gold Shop, 2 Nguyen An Ninh, District 1
• Kim Mai Gold Shop, 84C Cong Quynh, District 1

Just be cautious — not all shops are licensed. Only use reputable stores and count your cash on the spot.

E. Hotels & Unofficial Exchangers

Hotels may offer money exchange, but typically at lower rates than banks or gold shops. It’s a matter of convenience over value.

As for street exchangers? Avoid exchanging money on the street at all costs. The risk of counterfeit bills, scams, and unsafe practices is simply not worth it.

4. Currency Exchange Safety Tips

Spotting Authentic Vietnamese Notes

Vietnamese currency, especially the polymer notes like the 10,000 VND, 100,000 VND, and 500,000 VND, has embedded security features. Look for:

• Watermarks when held against the light
• Color-shifting ink on some denominations
• Microprint and crisp textures

And here’s a quick local trick: crumple a polymer note in your hand. If it bounces back smoothly, it’s legit. If it stays wrinkled — red flag!

Always Count Before You Walk Away

Whether you're at a bank ATM, gold and jewelry shop, or a money changer in Ho Chi Minh City, count your money carefully before leaving the counter. Mistakes happen — and in some tourist zones, they’re not always accidental. Don't let excitement over a good exchange rate make you careless.

Avoiding Common Scams

In busy areas like Ben Nghe Ward District or around Ben Thanh Market, you'll find plenty of eager street exchangers. But here’s your expert advice: avoid exchanging money with anyone not in a licensed location. Stick to banks, reputable money changers, or licensed gold shops. If it seems too good to be true, it probably is.

Safe Storage While Traveling

Once you’ve exchanged your money, divide it. Keep a mix of small denominations handy for local spending, and store larger bills securely in your hotel safe or a hidden travel wallet. If you're carrying a lot of cash in a money exchange Ho Chi Minh hotspot, use a theft-proof travel pouch.

5. Using Cards in Vietnam

Where Cards Are Widely Accepted

In hotels, restaurants, shopping malls, tour offices, and spas — especially in Hanoi and Ho Chi Minh City — cards are accepted. Visa, Mastercard, and American Express all work smoothly. Just make sure your card has 3D security enabled.

When You’ll Need Cash

You’ll absolutely need local currency at:

• Street food stalls
• Local markets
• Rural villages
• Taxis (unless you use apps)

So even if you love your card, cash is king in many parts of the country.

Understanding Card Fees Abroad

Your card provider might charge:

• Foreign transaction fees (usually 1%–4%)
• Currency conversion fees
• ATM withdrawal charges in addition to local bank fees

Minimize surprises by checking with your bank before you travel.

Best Travel Cards to Carry

Look for cards with zero foreign transaction fees. Some traveler favorites include:

• Charles Schwab (USA)
• Wise (multi-currency)
• Revolut
• Capital One

Pair your card with Google Maps to locate a currency converter in Ho Chi Minh or “forex near me” with ease.

6. Best Practices for Managing Your Cash

Exchange in Smaller Amounts

Don't carry all your converted cash at once. Exchange money for a few days at a time and keep track of your spending. This helps you avoid carrying too much and reduces the risk of loss.

Carry a Range of Denominations

Paying with a 500,000 VND note for a coconut on the street? Not ideal. Vendors may not have change. Carry smaller bills like 20,000 or 50,000 VND — you’ll make smoother transactions everywhere from rural markets to cong quynh cafés.

What to Do If You Lose Your Wallet

• Have a copy of your passport and card numbers stored securely
• Contact your bank immediately
• Visit a local bank or consulate for support
• Use hotel safes and avoid carrying all valuables at once

Being prepared is the best way to stay calm in a pinch.

7. Conclusion

Congratulations — you’ve just leveled up in mastering how to exchange money in Vietnam! Before you head off to explore the wonders of Vietnam, bookmark a live currency converter or download a currency exchange app that works in Ho Chi Minh City and beyond. And remember — whether you’re sipping street coffee or shopping in Ben Nghe Ward District, the smarter you manage your money, the more rewarding your journey becomes.