Overview of Vietnam Dong (VND)
The official currency of Vietnam is the Vietnamese Dong (VND). Banknotes range from 1,000 VND to 500,000 VND. Coins are no longer in use.
- Exchange rate (Jan 2025): 1 USD ≈ 24,500 VND | 1 EUR ≈ 26,700 VND
- Large denominations (200,000 – 500,000 VND) are common but may cause confusion due to similar colors.
- Cash is still widely used, especially in markets, taxis, and small shops.
Currency Exchange – Where & How
You can exchange foreign currency into VND at several locations:
- Banks: Safe and reliable, but require ID (passport).
- Airport counters: Convenient but lower rates.
- Gold/jewelry shops: Often provide the best exchange rates in cities like Hanoi and Ho Chi Minh City.
- Hotels: Possible but usually poor rates.
💡 Always check the daily rate online before exchanging: Vietcombank exchange rates.
Using Credit Cards in Vietnam
Credit cards (Visa, MasterCard) are accepted at hotels, shopping malls, and upscale restaurants, but not at small shops or rural areas.
- Accepted cards: Visa, MasterCard, JCB. American Express is less common.
- Surcharges: Some shops add 2–3% card fee.
- Security: Use ATMs inside banks or malls for safety.
ATMs & Withdrawal Fees
ATMs are widely available in cities and tourist destinations. Most have a withdrawal limit of 2–5 million VND per transaction (~$80–200).
- Common ATM fees: 30,000 – 60,000 VND per transaction ($1.20–2.50).
- International cards: Visa/MasterCard work at major bank ATMs (Vietcombank, BIDV, Techcombank).
- Tip: Use fewer, larger withdrawals to reduce total fees.
Mobile Payments & E-Wallets
Digital payments are growing in Vietnam, especially in cities:
- Popular apps: Momo, ZaloPay, ViettelPay, GrabPay.
- Foreigners: Can use e-wallets linked to local SIM and bank accounts, but setup may be difficult without residency.
- Apple Pay & Google Pay are gradually expanding but not widely used yet.
Common Money Scams to Avoid
- Fake banknotes: Be careful with large denominations (especially 500,000 VND). Feel the texture & watermark.
- Short-change scam: Vendors may return the wrong amount; always double-check.
- Inflated exchange rates: Avoid exchanging money with street vendors or taxi drivers.
👉 Keep small notes handy for taxis, food stalls, and tips.