Exchanging money in Vietnam : What you should know

If you are traveling to Vietnam, you will quickly notice that cash is still an important part of everyday life. Vietnamese dong (VND) is the local currency, and while cards are widely accepted in hotels, larger restaurants and shops, you will still need cash for local markets, street food, small shops and many everyday purchases.

So how much cash should you bring? Is it better to exchange euros or US dollars? Where should you exchange money in Vietnam, and what should you avoid?

The good news is that exchanging money in Vietnam is generally straightforward. You can use banks and licensed exchange offices, while ATMs are widely available in cities and tourist destinations. The important thing is knowing where to exchange your money and understanding the difference between the exchange rate, fees and convenience.

Vietnamese dong (VND)

The Vietnamese dong is the official currency of Vietnam. Banknotes range from 1,000 VND to 500,000 VND, while coins are no longer commonly used in everyday transactions.

The high denominations can be confusing at first, especially when you are dealing with several different banknotes at once. For example, 50,000 VND, 100,000 VND and 500,000 VND notes can look relatively similar at a quick glance.

It is therefore worth checking the denomination before paying, especially when you are buying something at a busy market or making a larger cash payment.

You will also quickly get used to the fact that prices are often written simply as a number without the “VND” being shown. For example, 100 can mean 100,000 VND rather than 100 VND. When in doubt, simply confirm the price before paying.

For most travelers, there are two practical options: banks and licensed currency exchange points. You may also be able to exchange money at your hotel, but the rate is often less attractive.

The important thing is not simply to look for the highest advertised rate. Check the actual amount you will receive, whether there is a fee, and whether the exchange point is properly licensed.

Banks

Banks are one of the safest options for exchanging foreign currency in Vietnam. Major banks such as Vietcombank, BIDV, VietinBank and Agribank have branches in many cities.

The main disadvantage is convenience. You may need your passport, complete some paperwork and wait for the transaction to be processed. Opening hours also depend on the individual branch, so a bank is not always the easiest option if you have just arrived or need cash outside normal business hours.

Banks can also be particular about the condition of foreign banknotes. Damaged, heavily worn or marked notes may be refused or exchanged at a less favorable rate. If you are bringing cash to Vietnam, clean and undamaged notes are therefore the safest choice.

Licensed exchange offices

Licensed currency exchange offices can be more convenient than banks, especially in tourist areas and larger cities. The process is usually quicker and there is often less paperwork.

Before handing over your money, check the exchange rate and confirm how much Vietnamese dong you will receive. After the exchange, count the money before leaving the counter.

Do not choose an exchange point simply because someone offers you a slightly better rate. A reliable, clearly identified exchange office is more important than a small difference in the rate.

Hotels

Some hotels can exchange foreign currency for their guests. This can be useful when you need a small amount of Vietnamese dong immediately, for example after arriving late at night.

The trade-off is usually the exchange rate. For larger amounts, it is generally worth comparing the rate with a bank or licensed exchange office.

What about gold shops and street money changers?

This is an area where older travel guides can be misleading.

In the past, travelers in Vietnam commonly exchanged foreign currency at gold shops, and unofficial money changers could sometimes offer attractive rates. You should not rely on this old advice today.

Vietnam's rules on foreign-exchange and gold-trading activities have changed, including new administrative rules that took effect on February 9, 2026.

For travelers, the simple rule is: use a bank or a properly licensed currency exchange point rather than an unofficial money changer. It is not worth taking unnecessary risks just to get a slightly better exchange rate.

Yes, but you should not rely on your card everywhere.

Credit and debit cards are widely accepted in hotels, larger restaurants, shopping centers, supermarkets, and many businesses in Vietnam's bigger cities. However, cash is still important for everyday purchases. At local markets, street-food stalls, small restaurants, family-run shops and some smaller businesses, cash is often the only payment option.

For that reason, we recommend having some Vietnamese dong with you even if you normally pay by card.

If you want to know more about the practical differences between cash and card payments, see our guide to using cash, cards and ATMs in Vietnam.

ATMs in Vietnam

ATMs are widely available in major cities and tourist destinations, and most international Visa and Mastercard cards can be used to withdraw Vietnamese dong.

The amount you can withdraw depends on the bank and the particular ATM. Withdrawal limits and fees can vary, so check the information shown on the ATM before confirming the transaction.

Another important point is the exchange rate. If an ATM asks whether you want the transaction to be processed in your home currency or in Vietnamese dong, choosing Vietnamese dong is usually the better option. This allows your own bank or card provider to handle the currency conversion instead of accepting the ATM's own conversion rate.

How much cash should you carry?

You do not need to walk around Vietnam with a large amount of cash. A practical approach is to keep a smaller amount of Vietnamese dong for everyday expenses and withdraw more when needed.

For longer trips, it is also sensible to have more than one payment method. For example, carry one card for everyday payments and keep a second card separately as a backup.

This gives you much more flexibility than relying exclusively on either cash or cards.