Travel money guide to Vietnam | finder.com

Travel money guide: Vietnam

Everything you need to know about using cash and cards in Vietnam

Forget the sunscreen and swimsuit — planning your travel money options should be on top of your Vietnam vacation prep list.

The official currency of Vietnam is the Vietnamese dong (VND). Because the dong is tied to the US dollar, you can use your money at most hotels and big shops. To make things easier, prices are often quoted in US Dollars in tourist areas. But beware — you’ll pay twice as much if you pay with your US dollars, so exchange your money before you arrive in Vietnam. Let us help you compare your options to find the best way to manage your money on your Vietnam adventure.

Which option is right for your next trip?

Compare travel cards for Vietnam

Rates last updated April 25th, 2018
Name Product Foreign Currency Conversion Fee Overseas ATM Withdrawal Fee Overseas Cash Advance Fee Annual fee Product Description
Barclaycard Arrival Plus® World Elite Mastercard®
0% of transaction value
$0
$10 or 5% of the transaction, whichever is greater
$0 annual fee for the first year ($89 thereafter)
Enjoy 40000
bonus miles after you spend on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase.
Simmons Bank Visa® Platinum
2%
of transaction value
$0
The Simmons Bank Visa® Platinum Card offers multiple perks, including one of the lowest available APRs on the market.
Chase Sapphire Preferred® credit card
0% of transaction value
$0 annual fee for the first year ($95 thereafter)
Earn 2X points on travel and dining at restaurants.
BankAmericard Travel Rewards® Credit Card
0% of transaction value
$0
Ditch the restrictions of typical airline rewards cards. Any airline, any hotel, anytime. No blackout dates.

Compare up to 4 providers

Promoted
Travelex Money Card

Why we like: Travelex Money Card

Load GBP, EUR, CAD, AUD, JPY or MXN onto this prepaid travel money card and use it at millions of locations worldwide.

  • Not linked to your bank account for safety.
  • Convert currency with a 5.50% Foreign Exchange Fee
  • Contactless payments
  • Reload, withdraw, or replace your card for free.

    How much dong do I need to bring to Vietnam?

    Your money will go along way in Vietnam. Accommodation, food and tourist activities cost a fraction of the price of what they cost in the US. If you want a travel on a backpacker’s budget, $40 or less a day will do. For a more comfortable trip, you can budget $60 to $100 per day. If you have expensive taste, it’s easy to find a five star experience with prices to match at a budget of $200 a day.

    HanoiBudgetMidrangeExpensive
    sleep

    Hostel dorm bed

    $5–$15 USD per night

    2 star hotel

    $15–$30 USD per night

    5 star hotel

    $150+ USD per night

    food

    Budget meals
    at a cafeteria

    $1.50 USD

    Western breakfast/lunch

    $2.50 USD

    Western style steak

    $25 USD

    cruiseSightseeing at
    Hoan Kiem Lake and Turtle towerfree
    Walking tour of Hanoi old town
    $30 USD per person
    Halong Bay overnight cruise
    $190 USD per person

    *Prices are approximate and are subject to change.

    US dollar to the Japanese yen for the last 10 years

    Apr 2008 Apr 2009 Apr 2010 Apr 2011 Apr 2012 Apr 2013 Apr 2014 Apr 2015 Apr 2016 Apr 2017
    1 USD = 104.0773 Inverse: 0.0096 97.0243 Inverse: 0.0103 93.9566 Inverse: 0.0106 81.9197 Inverse: 0.0122 81.1381 Inverse: 0.0123 99.4617 Inverse: 0.0101 102.5151 Inverse: 0.0098 119.6295 Inverse: 0.0084 111.3498 Inverse: 0.0090 109.0850 Inverse: 0.0092

    US dollar to the Japanese yen for the last 10 months

    Jun 2017 Jul 2017 Aug 2017 Sep 2017 Oct 2017 Nov 2017 Dec 2017 Jan 2018 Feb 2018 Mar 2018
    1 USD = 111.2878 Inverse: 0.0090 111.2362 Inverse: 0.0090 109.5185 Inverse: 0.0091 112.4467 Inverse: 0.0089 113.5801 Inverse: 0.0088 111.5280 Inverse: 0.0090 113.2117 Inverse: 0.0088 108.5650 Inverse: 0.0092 107.0718 Inverse: 0.0093 106.4920 Inverse: 0.0094

    How to send money to Vietnam

    Travel card, debit card or credit card?

    Credit cards can be used for big ticket purchases in Vietnam. For example, in Hanoi mid to high-end hotels, restaurants and retailers will take Visa and Mastercard — you’ll struggle to find merchants who take American Express credit cards and prepaid travel cards. Everywhere else you’ll need to pay with cash.

    If you bring your debit card, you can expect to pay between $1 and $2, on top on any fees your bank charges. Find a debit card that allows you to withdraw from any ATM without charging a fee. You should never use ATMs to withdraw money from your credit cards — they charge high fees and interest on your withdrawal immediately.

    Travel money options for Vietnam at a glance

    Trying to decide how to pay for your vacation to Vietnam? Compare these travel money options and see what works best for you.

    Travel money optionProsCons
    Debit cards
    • Use at stores and hotels, online and ATMs
    • Protected by PIN & chip
    • Spending your own money means avoiding interest charges
    • International ATM and currency conversion fees
    • No access to cash advances
    Prepaid travel money cards
    • Lock in exchange rate when you convert USD to VND
    • Protected by PIN & chip
    • Emergency card replacement and backup cards.
    • Reloadable online
     

    • Come with lots of fees for loading and reloading, inactivity and ATM withdrawals.
    • Businesses won’t accept prepaid cards
    Credit cards
    • Use for big ticket purchases
    • Protected by PIN & chip
    • Accepted worldwide
    • May come with benefits like travel insurance
    • Interest-free days when you pay your account in full
    • Emergency card replacement
    • Fees and interest for cash withdrawal
    Traveler’s checks
    • Security
    • Cash at any bank
    • Fees for purchasing and cashing checks
    • Not accepted by many merchants
    • Currency exchange rate varies over time
    Cash
    • Payment flexibility
    • Convenience
    • More difficult to manage expenses
    • High risk of theft

    This table is a general summary of the travel money products on the market. Features and benefits can vary between cards.

    How travel money works in Vietnam

    Using credit cards

    Travel credit cards give you the most purchasing power on expensive items like hotels and flights when traveling in Vietnam. Find yourself a credit card that waives foreign transaction fees. Carrying a credit card gives you the added benefit of travel insurance and discounts, depending on your provider. For added savings, take advantage of the interest-free period by paying your balance in full each month.

    Cards that offer travel perks and waive fees often charge an annual fee, so make sure the fee is worth it before you bring it along on your travels. If you’re ever in a jam, credit cards also offer cash advances, though we don’t recommend it. You’ll pay high fees and interest rates apply the moment you get your money.

    Using travel money cards

    Travel cards can lock in conversion rates once you load USD. Use it for purchases without worrying about rates each time you spend — debit and credit cards often charge 3% for each transaction.

    Where you save in the conversion rates you may pay in fees. You’ll pay fees each time you load the card, ATM withdrawals and sometimes even an inactivity fee.

    • Tip: Banks that provide travel cards make money by applying a higher margin to the exchange rate. You can get a better rate using a debit card or credit card.

    Using debit cards

    A travel debit card could be a good travel money choice to take to Vietnam. You’ll have access to cash each time you come across an ATM, without carrying lots of cash on you all at once. Because you’re spending your own money, you avoid interest charges. The Citibank Plus waives the fee for international ATM withdrawals and doesn’t charge a monthly account keeping fee.

    • Tip: A debit card can be used to shop over the counter, online and for ATM withdrawals in Vietnam.

    Using traveler’s checks

    Security is the main advantage of using traveler’s checks. Each check has a unique serial number and can only be cashed with photo identification. Fees are the main disadvantage. Banks charge you to get check and to cash them. You’re better off using a debit or travel card which lets you make cheap or free ATM withdrawals to get Vietnam dong.

    • Tip: Traveler’s checks are good for locking in a good exchange rate. So if you watch the forex market, get them while the getting’s good.

    Taking cash with you

    Cash is king in Vietnam, so be sure you have access to plenty of it. Make sure you don’t get any damaged or ripped banknotes — merchants in Vietnam won’t accept them. Dongs are delicate, so carefully place money in your wallet rather than in the bottom of your bag or pockets.

    • Tip: Exchange your money at banks or other licensed exchange stores — Vietcombank doesn’t charge a commission. There is a black market for exchanging money in Vietnam that charges a lower exchange rate and, most importantly isn’t legal.

    Using an ATM

    Mastercard and Visa cards can be used to make cash withdrawals from a majority of ATMs in Vietnam. The maximum withdrawal limit varies depending on the machine. Machines from American banks often have a higher daily withdrawal limit compared to Vietnamese banks. Although Vietnamese banks often charge a lower withdrawal fee.

    • Tip: Keep yourself and your money safe when using an ATM. Block your PIN from cameras and onlookers. And be sure to use ATMs in busy areas or inside a business.
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    Dean’s trip to Vietnam

    We interviewed Dean, a finder.com user who traveled to Vietnam, and asked him about his experience using travel money. He spent two months in Southeast Asia, including a month adventure in Vietnam. He flew from Cambodia to Ho Chi Minh, finished his trip in Hanoi and took a bus to Laos. He was there for the Tet Festival in December — which Dean said is not to be missed.

    Where did you go?

    Ho Chi Minh City, Mui Ne, Nha Trang, Hoi An and Hanoi.

    What cards did you take?

    Why did you take these cards?

    Dean says he took the Citibank Plus card because it doesn’t charge an international transaction fee and has no monthly account fee. Most importantly, there’s no international ATM charge from Citi when he made ATM withdrawals. He took the Barclaycard Arrival Plus because of the bonus miles he could earn, along with the interest-free days when he paid his balance in full.

    Where could you use these cards?

    Dean says Vietnam is a cash economy. You can tell pretty quickly where you can and can’t use your cards, and if in doubt, always ask. He used cash for most of his transactions in Vietnam including his nights in the boarding houses, meals and the bus ride out of the country. Credit cards were good for shopping at department stores and businesses inside shopping centers. He also used his card to pay for a couple of nights stay in high-end hotels.

    Tell us about ATM withdrawals in Vietnam.

    Dean says he made withdrawals from Vietnam bank ATMs when he could. He says there was a charge of about $1 to $3 dollars each time he made a withdrawal from a non-Citibank ATM. Not only did Citibank not charge a fee, he said that it had the highest ATM withdrawal limit of 8,000,000 VND or about $350 USD.

    What are your travel money recommendations for Vietnam?

    Dean says the Citibank Plus is a traveler’s best friend. Regularly, ATM withdrawals can cost up to $20 for each transaction. The $5 charge for international ATM withdrawals and a $10 fee for foreign exchange of a couple hundred dollars can be avoided using the Citibank Plus. He says cards with exchange and international ATM withdrawal fee are the best option.

    Do you have any other travel money tips?

    Dean says make sure you do the following:

    • Tell your credit card and debit card provider about your travel plans in Southeast Asia.
    • Make sure you’re covered by travel insurance.
    • You’ll be carrying cash on you so use caution and make sure it’s out of reach from thieves and pick pockets.
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    A guide to the Vietnamese dong banknotes

    The Vietnamese dong is the major currency used in Vietnam. The dong comes in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000 and 200,000, each a different color. Be sure to pay the right amount when you make your purchases, and always count your change. Familiarize yourself with what the currency looks like and how it works will avoid confusion when handling your money.

    1,000 image042,000image00
    5,000image0110,000 image02
    20,000 image0350,000 image06
    100,000 image07200,000 image05

    Buying Vietnamese dong in the US

    While you’ll get a better rate if you wait to get Vietnamese dong in Vietnam, you can purchase dong in the US from your bank or a foreign exchange provider like Travelex. If you’re flying into Vietnam directly, and you want to get a visa on arrival (VOA), be ready with cash to pay the fee when you pass through customs. Here are some popular ways to exchange your US currency into dong.

    Why you’ll need a combination of travel money options

    Vietnam is a popular destination for experiencing the rich culture and natural beauty for rock bottom prices. Plan to bring a number of payment options on your Vietnamese vacation for peace of mind. Credit cards are good for bigger purchases, and you can earn travel rewards, but cash is what you’ll need the most. Only carry the cash you need, keeping the rest on your debit or prepaid cash card.

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    Find travel insurance for your trip to Vietnam

    Details Features
    Seven Corners Trip Protection Insurance
    Seven Corners Trip Protection Insurance
    Travel with a smile - protect your trip cost, your medical expenses, & your belongings.
    • Emergency Accident & Sickness Medical Expenses up to $250,000
    • Trip Cancellation – 100% of Trip Cost
    • Trip Interruption – up to 150% of Trip Cost
    • Political Evacuation - $20,000
    • Lost, Stolen or Damaged Baggage – up to $2,500
    • Emergency Medical Evacuation – up to $1 million
    Go to site More info
    Travelex Travel Max
    Travelex Travel Max
    TravelEx's most comprehensive protection plan for the comprehensive traveler. Offers optional Cancel For Any Reason upgrade.
    • Trip Cancellation - 100% of Insured Trip Cost
    • Trip Interruption - 150% of Insured Trip Cost
    • Trip Delay - $1000
    • Medical Expense Benefits - $100,000
    Go to site More info
    RoamRight Travel Insurance Essential
    RoamRight Travel Insurance Essential
    RoamRight’s Essential travel insurance package can be broken down into three critical parts: Trip Cancellation insurance, tourist health insurance, and baggage insurance.
    • Cancellation Cover - 100% Cost of Trip
    • Emergency Medical Expenses - $15,000
    • Emergency Evacuation and Repatriation - $150,000
    • Baggage and Personal Effects Cover - $750
    Go to site More info
    STA Travel Standard International
    STA Travel Standard International
    Get affordable cover for the essentials of options with STA's mid-level cover policy. This option will still provide up to $1500 in luggage cover and up to $100,000 in medical cover.
    • Trip Cancellation Cover - 100% of trip cost insured up to $10,000
    • Emergency Medical Expenses Cover - Up to $100,000
    • Baggage and Personal Effects - Up to $1,500
    • Trip Delay - Up to $500
    Go to site More info
    RoamRight Travel Insurance Preferred
    RoamRight Travel Insurance Preferred
    As the name implies, the Preferred package provides coverage for most trips and vacations.
    • Cancellation Cover - 100% Cost of Trip
    • Emergency Accident & Medical Expenses - $50,000
    • Emergency Evacuation and Repatriation - $500,000
    • Accidental Death and Dismemberment - $10,000
    Go to site More info
    Travelex Cancel for Any Reason
    Travelex Cancel for Any Reason
    Cancel For Any reason upgrade available with the Travel Max plan. Cancel for any reason - no questions asked.
    • Reimburses up to 75% of the insured trip cost
    • 100% cover if delayed to departure and loose at least 30%
    Go to site More info
    Atlas Travel
    Atlas Travel
    Provides customizable coverage for specific losses. Cover can be tailored to provide a balance between the basic essentials and premium cover.
    • Illness and Injury Cover - Up to $1 million
    • Emergency Medical Evacuation - Up to $1 million
    • Lost Checked Luggage - Up to $500
    • Travel Delay - $100/day up to 2 days
    Go to site More info
    Atlas Premium
    Atlas Premium
    Provides quality cover for a range of benefits with higher cover limits. Premium plan is perfect for travellers with health concerns looking for total protective cover.
    • Illness and Injury Cover - Up to $2 million
    • Emergency Medical Evacuation - Up to $1 million
    • Lost Checked Luggage - Up to $1,000
    • Travel Delay - $200/day up to 2 days
    Go to site More info
    Travelex Flight Insure Plus
    Travelex Flight Insure Plus
    Provides option to choose between different levels of flight insurance protection.
    • Flight Accident AD&D - Up to $1 Million
    • Baggage - $2,000
    • Medical Expense Benefits - $2,500
    • Medical Evacuation / Repatriation - $25,000
    Go to site More info
    STA Travel Explorer Plus
    STA Travel Explorer Plus
    Get premiere cover for a whole range of options with STA's premium policy. This option will still provide up to $100,000 in medical expense cover and up to $3,000 in cancellation cover.
    • Trip Cancellation Cover - $3,000
    • Emergency Medical Expenses Cover - Up to $100,000
    • Baggage and Personal Effects - Up to $2,500
    • Trip Delay - Up to $1,000
    Go to site More info
    Allianz Domestic Travel Insurance
    Allianz Domestic Travel Insurance
    Allianz Domestic Travel Insurance makes sure you are covered incase your planned trip unexpectedly goes awry.
    • Trip coverage - Depends on plan
    • Baggage coverage - Up to $1,000
    • 24-hour hotline assistance
    • Existing medical coverage - Up to $500,000
    Go to site More info
    Allianz International Travel Insurance
    Allianz International Travel Insurance
    If you frequently travel abroad and want extra coverage in case you get sick, injured, or need to cancel your trip, Allianz International Travel Insurance is the perfect solution.
    • Trip coverage - Depends on plan
    • Baggage coverage - Up to $1,000
    • 24-hour hotline assistance
    • Existing medical coverage - Up to $1,000,000
    Go to site More info
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