Travel Tips for Exchanging Money in Vietnam

Many friends of mine who traveled to Vietnam encountered issues when exchanging money from USD to Vietnamese Dong, as many notes were not accepted. Today, I’d like to share how you can avoid this problem and ensure you get USD from money changers in your hometown.

In Vietnam, banks and money changers will refuse to exchange old, torn, or faded USD notes, and you may receive a much lower exchange rate if you attempt to use them. Therefore, it's advisable to bring new or clean bills in small denominations. US $100 notes from the pre-2009 series are often not accepted, so it is best to bring bills from US $50 or smaller for easier exchange.

Additionally, when paying for travel services and goods in Vietnam,  it's best to use new USD notes as well. Keep in mind that your money changers at home may not always provide new notes, so you need to check and ensure all are new, not old, torn, or faded.

I hope this information helps you during your trip to Vietnam!

Examples of Notes: 

New USD Notes: 

Old,Torn, or FadedUSD Notes: 

Where to Exchange Currency in Vietnam

1. At Banks in Vietnam

Banks in Vietnam offer reliable currency exchange services. However, they may have longer wait times and stricter operating hours compared to other options.

2. At Gold and Jewelry Shops

In Vietnam, gold and jewelry shops offer currency exchange services, often providing competitive rates. The process is fast and convenient, with fewer fees compared to other options, making it ideal for those needing cash quickly.

However, some shops may not be licensed for currency exchange. Unregulated shops could potentially scam customers. Therefore, it's important to remain cautious, as currency exchange in such shops is illegal in Vietnam.

3. At Currency Exchange Counters

Currency exchange counters can be found in airports, shopping centers, and popular tourist areas, providing easy access to cash. They have longer operating hours and shorter queues than banks. However, their exchange rates are often less competitive, and some locations may apply additional service fees or commissions.

For better value, you should compare multiple exchange counters before finalizing a transaction. Always verify the amount received before leaving to ensure accuracy and prevent any potential issues.

Tips for Exchanging Currency in Vietnam

Exchanging currency can be simple with the right tips. Here are key Vietnam currency exchange tips to help you get the best rates and avoid common mistakes:

• Avoid Exchanging Money on the Street: Street money changers might offer tempting rates but carry a high risk of scams or counterfeit bills. For safe and secure currency exchange in Vietnam, stick to authorized locations like banks, ATMs, or licensed exchange counters.
• Don't Exchange Too Much Money at Once: Avoid exchanging large amounts at once. Exchanging smaller sums reduces the risk of theft, especially in crowded tourist areas. It also helps you manage your budget better and prevents unexpected expenses or losses.
• Pay Attention to Fees and Exchange Limits: Inquire about potential fees and transaction limits. Being aware of these differences can affect your budget. Some international cards, like Capital One and Charles Schwab, don’t charge foreign transaction fees, making them great options for tourists.
• Keep Records of Your Transactions: Keeping a record of your transactions helps track your expenses and ensures you’re aware of exchange rates and fees applied. These records can also be useful if you need to report discrepancies or disputes later.

Currency exchange in Vietnam is vital for a seamless trip. Using banks and trusted exchange counters ensures you get the best rates and avoid scams or counterfeit money. Always be cautious when handling cash and consider exchanging smaller amounts for better control over your budget. For a worry-free trip, contact World Mate Travel to make your travel experience even easier.