Table of Contents
Everything you need to know about money in Vietnam: from identifying polymer notes and understanding the exchange rate to finding the best places to get cash.
Understanding the Vietnamese Dong (VND)
The official currency of Vietnam is the Vietnamese Dong (VND). While some high-end hotels and tour operators may quote prices in US Dollars (USD), day-to-day transactions for food, transport, and local shopping are conducted exclusively in VND. Because of the many zeros on the notes, it can take a few days to get used to handling the currency. Vietnam predominantly uses cash, although the adoption of digital payments and credit cards has grown rapidly in major cities.
- Symbol: ₫ or VND
- Polymer notes: 500,000₫, 200,000₫, 100,000₫, 50,000₫, 20,000₫, and 10,000₫
- Paper notes: 5,000₫, 2,000₫, 1,000₫ (and rarely 500₫)
- Coins: No longer in circulation
The 20,000₫ note (blue) and 500,000₫ note (blue/cyan) look very similar in low light. Always double-check before handing over cash, especially to taxi drivers at night.
Exchange Rates and Where to Exchange Money
As of 2026, the exchange rate typically hovers around 25,000 VND to 1 USD, though this fluctuates. To get the best rates, it's recommended to bring crisp, new, high-denomination foreign currency (like $100 bills) with no tears or markings. You have several options for exchanging money:
- Gold and Jewelry Shops: Often offer the best exchange rates with zero commission. These are prevalent in Hanoi's Old Quarter (Ha Trung street) and around Ben Thanh Market in Ho Chi Minh City.
- Banks: Very secure but require your passport and entail more paperwork. The rates are official but slightly lower than jewelry shops.
- Airport Exchange Counters: Convenient upon arrival, but rates are usually worse. Exchange just enough here to get to your hotel.
- Hotels: Convenient but typically offer the poorest exchange rates.
Cash vs. Cards: What Should You Use?
Vietnam is still largely a cash-based society, especially outside of the major metropolitan areas. You will absolutely need cash for street food, local markets, small convenience stores, and tipping. However, credit cards (Visa and Mastercard) are widely accepted at modern cafes, established restaurants, shopping malls, and international hotels. Expect a 2-3% surcharge when paying by card at some independent businesses.
Before your trip, remember to apply for your eVisa at Entry Vietnam to ensure a smooth entry. You can pay the $25 eVisa fee securely online via credit card.
Navigating ATMs and Fees
ATMs are ubiquitous in Vietnam's cities and towns. However, fees and withdrawal limits vary drastically between banks. Most local banks limit withdrawals to 2,000,000₫ or 3,000,000₫ per transaction, while charging a withdrawal fee of 30,000₫ to 50,000₫.
- Agribank, Vietcombank, Sacombank: Usually have lower withdrawal limits (2M - 3M VND).
- TPBank, VPBank, MB Bank: Often have slightly higher limits.
- Foreign banks (HSBC, Standard Chartered): Allow much larger withdrawals (up to 10M VND) but are harder to find outside big cities.
Always decline the ATM's dynamic currency conversion (DCC) option if it asks "Would you like to be charged in your home currency?" Always choose to be charged in VND to let your home bank determine the exchange rate.
The Art of Haggling
Bargaining is expected in traditional markets (like Dong Xuan or Ben Thanh), souvenir shops, and when negotiating with unmetered cyclo or motorbike taxi drivers (though using ride-hailing apps like Grab is highly recommended to avoid this). Start by offering 40-50% of their initial asking price and work your way to a middle ground. Keep it friendly and walk away if the price isn't right—they will often call you back with a better offer.