Vietnamese Dong (VND): Cash, ATMs & Currency Exchange

Money Matters: Navigating Vietnamese Currency, Cash, and Exchange Rates

Traveling to Vietnam means immersing yourself in a vibrant culture, delicious food, and a completely different currency system. The official currency is the Vietnamese Dong (VND), and dealing with all those zeros can be a bit overwhelming at first. Here is everything you need to know about managing your money in Vietnam.

Understanding the Vietnamese Dong (VND)

The Vietnamese Dong comes in notes ranging from 1,000 VND to 500,000 VND. There are no coins currently in circulation. Because of the high denominations, it's easy to feel like a millionaire, but it also requires careful attention when paying to ensure you don't accidentally hand over a 500,000 bill instead of a 50,000 bill.

• Polymer Notes: 10,000; 20,000; 50,000; 100,000; 200,000; and 500,000 VND. (Be careful, the 20,000 and 500,000 notes are both blue and look similar at a glance!).
• Paper Notes: 1,000; 2,000; and 5,000 VND (mostly used for small change or parking fees).

Cash is King, but Cards are Gaining Ground

Vietnam is still predominantly a cash-based society, especially for street food, local markets, small cafes, and rural areas. However, in major cities like Hanoi and Ho Chi Minh City, credit and debit cards (Visa and Mastercard) are widely accepted in hotels, modern restaurants, supermarkets, and shopping malls.

It's crucial to always carry cash for daily expenses, taxis, and tips.

Where to Exchange Currency

Exchanging your home currency (USD, EUR, GBP, AUD) for VND is easy in Vietnam. Here are the best places to do it:

• Gold and Jewelry Shops: This might sound surprising, but gold shops (particularly in Hanoi's Ha Trung street or near Ben Thanh Market in HCMC) often offer the most competitive exchange rates with no commission fees.
• Banks: Banks provide official rates, but the process can be slow, requiring your passport and sometimes a valid visa.
• Airports: Convenient for getting some initial cash upon arrival, but the rates are typically less favorable than in the city.
• ATMs: Widely available everywhere. They dispense VND but charge withdrawal fees (usually 20,000 to 50,000 VND per transaction), plus your home bank's foreign transaction fees. The maximum withdrawal limit per transaction is often around 2,000,000 to 3,000,000 VND.

Tipping Culture

Tipping is not traditional in Vietnam, and local restaurants do not expect it. However, it is becoming more common in the tourism industry. Leaving a small tip for exceptional service at a high-end restaurant, rounding up the taxi fare, or tipping tour guides and spa workers is always highly appreciated.

Frequently Asked Questions