Table of Contents
A comprehensive financial guide for travelers to Vietnam, detailing the Vietnamese Dong, currency exchange protocols, and ATM guidelines.
Understanding the Vietnamese Dong (VND)
The official currency of Vietnam is the Vietnamese Dong, abbreviated as VND and symbolized by ₫. While some high-end accommodations and tour operators quote prices in US Dollars, daily transactions are conducted exclusively in VND.
The Vietnamese Dong utilizes high denominations. A standard meal may cost approximately 50,000₫, while accommodation can exceed 2,000,000₫ per night. Travelers should familiarize themselves with these denominations to facilitate accurate transactions.
Quick Denomination Guide
| Note | Color | Value in USD (approx.) | Common Use |
|---|---|---|---|
| 500,000₫ | Blue/cyan (polymer) | ~$20 | Hotels, big purchases |
| 200,000₫ | Red/brown (polymer) | ~$8 | Restaurant meals, shopping |
| 100,000₫ | Green (polymer) | ~$4 | Taxis, mid-range meals |
| 50,000₫ | Pink (polymer) | ~$2 | Street food, small purchases |
| 20,000₫ | Blue (polymer) | ~$0.80 | Tips, small items |
| 10,000₫ | Yellow (polymer) | ~$0.40 | Very small purchases |
Lower denominations (5,000₫, 2,000₫, 1,000₫) are cotton paper notes that are increasingly rare. Coins are no longer in circulation.
The 20,000₫ note (blue) and 500,000₫ note (blue/cyan) look dangerously similar in low light. Always double-check before handing over cash — especially to taxi drivers at night. This is the single most common money mistake tourists make in Vietnam. For more on arriving, see our arrival checklist.
Exchange Rates — What to Expect in 2026
As of mid-2026, the exchange rate hovers around:
| Currency | Rate (approx.) |
|---|---|
| 1 USD | ~25,500 VND |
| 1 EUR | ~28,000 VND |
| 1 GBP | ~32,500 VND |
| 1 AUD | ~17,000 VND |
| 1 JPY (100) | ~17,500 VND |
| 1 KRW (1,000) | ~19,000 VND |
Currency Conversion Calculation
To calculate the approximate USD equivalent, divide the VND amount by 25,000. For example, 500,000₫ equates to roughly $20. This method provides a reliable estimate for daily budgeting.
Authorized Currency Exchange Venues
Travelers have several options for currency exchange, each with varying rates and requirements.
1. Licensed Gold and Jewelry Shops
Licensed gold and jewelry shops are established venues for currency exchange in Vietnam, often providing highly competitive rates without commission fees. They are commonly located in:
- Hanoi: Ha Trung Street in the Old Quarter
- Ho Chi Minh City: Around Ben Thanh Market and District 1
- Da Nang: Along Bach Dang Street
Bring crisp, clean, high-denomination bills ($100 USD notes get the best rate). They will check each bill carefully — any tears, ink marks, or excessive folding will result in rejection or a worse rate.
2. Commercial Banks
Banks provide secure transactions at official exchange rates. This process requires a valid passport and the completion of exchange forms, and rates may be slightly less favorable than those at licensed shops. Major banks include Vietcombank, BIDV, and Sacombank.
3. Airport Exchange Counters
Exchange rates at airports generally include a premium, often 2-5% less favorable than city rates. It is advisable to exchange a minimal amount upon arrival for initial transportation.
4. Hotel Services
Many hotels offer currency exchange services, though rates are typically the least favorable, averaging 5-10% below standard market rates.
An approved eVisa is required prior to arrival. Applications must be submitted through the official National Web Portal on Immigration, or you may utilize Entry Vietnam. The official fee is $25 for single-entry and $50 for multiple-entry, valid for up to 90 days.
Cash vs. Cards — What Works Where
Vietnam is still largely a cash economy, especially outside major cities. Here's what to expect:
Where Cash Is Mandatory
- Street food stalls and local markets
- Motorbike taxi drivers (xe ôm)
- Small convenience stores and family-run shops
- Tipping (hotel housekeeping, tour guides)
- Most businesses in small towns and rural areas
- Local transportation (buses, cyclos)
Where Cards Are Accepted
- International and mid-range hotels
- Modern cafes and chain restaurants (Highlands Coffee, The Coffee House)
- Shopping malls and branded retail stores
- Tourist-oriented restaurants in major cities
- Ride-hailing apps (Grab) — linked to your card
Important: Expect a 2-3% surcharge when paying by card at some independent businesses. Visa and Mastercard are widely accepted; Amex and Discover are rarely accepted outside luxury hotels.
Digital Payments
Vietnam's digital payment ecosystem has exploded. Locals use apps like MoMo, ZaloPay, and VNPay extensively. However, these typically require a Vietnamese bank account or phone number to set up. As a tourist, you'll mostly rely on cash and international credit/debit cards.
Navigating ATMs — Fees, Limits, and Best Banks
ATMs are ubiquitous in cities and towns across Vietnam. However, fees and withdrawal limits vary dramatically between banks.
ATM Comparison Table
| Bank | Per-Transaction Fee | Max per Transaction | Notes |
|---|---|---|---|
| Vietcombank | 22,000₫ (~$0.90) | 2,000,000₫ | Widespread, low limit |
| Sacombank | 33,000₫ (~$1.30) | 3,000,000₫ | Common in south |
| Agribank | 22,000₫ (~$0.90) | 3,000,000₫ | Most locations nationwide |
| TPBank | 0₫ (often free) | 5,000,000₫ | Higher limit, fee-free |
| VPBank | 0₫ (often free) | 5,000,000₫ | Good for international cards |
| MB Bank | 33,000₫ (~$1.30) | 5,000,000₫ | Higher limit |
| HSBC | 44,000₫ (~$1.75) | 10,000,000₫ | Highest limit, limited locations |
ATM Tips
-
Always choose VND — When the ATM asks "Would you like to be charged in your home currency?" always decline. This is Dynamic Currency Conversion (DCC), and accepting it typically costs you 3-5% in hidden markup.
-
Use TPBank or VPBank — These are the best for international cards: often fee-free with higher withdrawal limits.
-
Withdraw larger amounts less often — Since most ATMs charge a per-transaction fee, withdrawing 5,000,000₫ once is cheaper than 2,000,000₫ three times.
-
Carry a backup card — ATMs occasionally eat cards or malfunction. Having a backup from a different bank network is essential.
-
Use a travel-friendly bank card — Cards from Wise (formerly TransferWise), Revolut, or Charles Schwab offer zero or low foreign transaction fees. This can save you $50-100+ over a multi-week trip.
ATMs in Vietnam have a daily withdrawal limit set by YOUR home bank, not just the Vietnamese ATM. Check with your bank before departure and request an increase if needed. Many banks default to a limit that is too low for Vietnam travel.
Tipping Culture in Vietnam
Vietnam does not have a strong tipping culture, but it is increasingly appreciated in tourist-facing services:
| Service | Suggested Tip |
|---|---|
| Restaurant (local) | Not expected |
| Restaurant (upscale) | 5-10% if no service charge |
| Hotel housekeeping | 20,000-50,000₫/day |
| Tour guide (full day) | 100,000-200,000₫ |
| Spa/massage | 50,000-100,000₫ |
| Grab/taxi driver | Round up the fare |
Price Negotiation Protocols
Price negotiation is standard practice in specific commercial environments:
- Negotiation Expected: Traditional markets, informal souvenir shops, and unmetered transport services.
- Fixed Prices: Supermarkets, modern convenience stores, metered taxis, and formal restaurants with printed menus.
Travelers are advised to negotiate respectfully in applicable settings. For transportation, using digital ride-hailing applications ensures a fixed and transparent fare.
Common Money Mistakes to Avoid
- Confusing the 20k and 500k notes — Check denominations carefully, especially in dim lighting
- Exchanging at the airport — Only exchange enough for immediate transport needs
- Accepting DCC at ATMs — Always choose to be charged in VND
- Carrying only large bills — Many vendors cannot make change for 500,000₫. Keep a stack of 20,000₫ and 50,000₫ notes for daily use
- Not telling your bank — Inform your bank about your Vietnam travel dates to prevent card blocks
- Relying solely on cards — Cash is still king in most situations
- Exchanging money on the street — Illegal and risky; use licensed shops or banks