The Vietnamese dong
The official currency of Vietnam is the dong (VND), which has been in use since 1978. You’ll typically see amounts represented as “đ,” “d,” or “VND” after the number. The dong is a non-convertible currency, meaning you’ll need to exchange it back to your local currency before leaving Vietnam.
Banknotes
Vietnam uses only paper bills, with no coins in circulation anymore. The banknotes come in a wide range of denominations:
- Small denominations: 500đ, 1,000đ, 2,000đ, 5,000đ.
- Larger denominations: 10,000đ, 20,000đ, 50,000đ, 100,000đ, 200,000đ, and 500,000đ.
| Dong | US Dollar | Euro | Pound |
| 1,000 | |||
| 2,000 | |||
| 5,000 | |||
| 10,000 | |||
| 20,000 | |||
| 50,000 | |||
| 100,000 | |||
| 200,000 | |||
| 500,000 |
Tips for managing the dong
- Large numbers: The high denominations can be overwhelming at first due to the many zeroes. For example, 500,000đ is roughly $20–$22 USD depending on the exchange rate. Using a currency conversion app like XE Currency can help you quickly understand the value.
- Recognizing bills: Some banknotes look similar, such as the 20,000đ and 500,000đ bills. Always double-check to avoid overpaying by mistake.
- Condition of notes: Vendors may refuse torn or damaged notes. Always check your change and ask for replacements if you receive worn bills.
Understanding the dong will make managing your money in Vietnam much smoother and help you avoid common mistakes.
Payments in Vietnam
1. Cash payment is the norm
In Vietnam, cash is king. While digital payments are becoming more common, cash remains the dominant form of payment, especially in everyday transactions. Street food stalls, local markets, small coffee shops, and most small businesses only accept cash. It’s not just a preference; cash transactions are deeply ingrained in Vietnamese culture and daily life.
Having cash on hand is not only practical but also essential for smaller purchases like transportation, souvenirs, and meals at local eateries. Travelers should ensure they carry enough cash, particularly when exploring areas outside the major cities.
2. Card payments
While credit and debit card payments are accepted at higher-end hotels, luxury restaurants, and large retail stores, they are much less common in smaller establishments. In rural areas or smaller cities, card payment options are rare, so cash becomes even more important.
Tips for card payments:
- Credit cards over debit cards: Credit cards are more widely accepted than debit cards, especially outside major cities.
- Foreign transaction fees: Be aware of potential fees for international card use. Check with your bank before traveling.
- Backup cash: Always carry cash as a backup in case card machines are unavailable or out of service.
3. Tips for handling payments
- Smaller denominations: Always carry smaller bills (10,000đ–50,000đ) for street food, taxis, and small purchases. Vendors often don’t have change for larger bills like 500,000đ.
- Similar-looking bills: Be extra cautious with 20,000đ and 500,000đ bills, as their colors and designs are similar. Double-check the amount before handing it over.
- Common scams: One common scam involves receiving less change than you’re owed, especially in busy markets or taxis. Always count your change carefully and don’t hesitate to question discrepancies.
Foreign currencies in Vietnam
Foreign currencies like USD or EUR are officially not accepted for transactions in Vietnam. While the law prohibits businesses from accepting foreign money, there are a few exceptions in practice. Some travel agencies and high-end hotels may take USD, but this is rare and not guaranteed.
For most purchases, especially in local markets, shops, and restaurants, Vietnamese dong (VND) is the only currency you can use.
Accessing Money in Vietnam
1. ATMs in Vietnam
ATMs are widely available in Vietnam, especially in urban areas and tourist destinations. You’ll find machines from various banks like Vietcombank, BIDV, and Techcombank, among others. However, there are a few points to keep in mind when using ATMs:
- Withdrawal limits: Most ATMs have low withdrawal limits (around 2-3 million VND per transaction), which can be inconvenient if you need a larger amount.
- Fees: Each bank charges its own transaction fees, and these can vary. In addition, your home bank may charge an international withdrawal fee.
- Finding ATMs in rural areas: While ATMs are abundant in cities, they are less common in rural areas, so plan ahead and carry enough cash if you’re traveling off the beaten path.
For more details about fees and the best banks to use, check out this guide: ATMs in Vietnam.
2. Money exchange
If you prefer to exchange cash, there are several options available. Comparing exchange rates and fees is crucial to getting the best value.
- Airports: Convenient but often offer lower exchange rates and higher fees. Only use them if necessary or for small amounts.
- Banks: Reliable and found throughout Vietnam, banks offer safe money exchange services. However, their rates may not always be the best available.
- Gold shops: Surprisingly, gold shops often provide the most competitive exchange rates, especially in cities like Ho Chi Minh City and Hanoi. While less formal, they are widely trusted by locals and experienced travelers.
Extra Tip:
For specific tips on exchanging money in Vietnam’s major cities, refer to these guides:
Tipping culture in Vietnam
Tipping in Vietnam is not mandatory and is not deeply rooted in the local culture. Vietnamese people themselves rarely tip, but due to the growing influence of tourism and international customs, tipping has become more common in the tourism sector. This includes guides, drivers, and staff at mid-to-high-end restaurants.
That said, you should never feel obligated to tip. It is seen as a gesture of appreciation rather than an expectation.
When and how much to tip?
- Restaurants: In casual or local eateries, tipping is not expected. At tourist-focused or higher-end restaurants, leaving around 5-10% of the bill is appreciated.
- Guides and drivers: For a full-day tour, a tip of 50,000–200,000 VND per person is considered generous.
- Hotels: A small tip (20,000–50,000 VND) for housekeeping or porters is appreciated but not required.
Best practices for tipping
- Use local currency: Tipping in Vietnamese dong (VND) is always better received than foreign currency.
- Small denominations: Carry smaller bills (e.g., 10,000–50,000 VND) for tips to avoid awkward situations where change is needed.
- Cultural awareness: Tipping is more common in tourist hotspots, but in rural areas or local businesses, it may confuse locals who are not accustomed to it.
For more detailed insights into tipping customs, read our guide: Tipping in Vietnam.
Payment Apps in Vietnam
While payment apps are growing in popularity globally, especially in countries like China where they dominate transactions, they are less commonly used in Vietnam. Payment apps like Momo and Zalo Pay are available, but they’re primarily used by locals rather than tourists.
For travelers, these apps may not be very practical for short trips, as they often require linking a Vietnamese bank account. However, for those planning an extended stay, they can offer convenience and ease of use in an increasing number of shops, cafes, and businesses.
1. Momo
Momo is one of the most popular e-wallet apps in Vietnam. It allows users to pay bills, shop online, and transfer money quickly. The app is widely accepted in larger cities and is increasingly supported in smaller establishments.
2. Zalo Pay
Zalo Pay is integrated with the Zalo messaging app, making it a convenient choice for users of the platform. It offers similar features to Momo, including payments at participating shops and peer-to-peer money transfers.
Tips for handling money in Vietnam
Managing money in Vietnam can be straightforward if you keep a few practical tips in mind. These suggestions will help you avoid common pitfalls and ensure your trip goes smoothly.
1. Use the Xe App
Download a currency conversion app like Xe to quickly check exchange rates and understand the value of Vietnamese dong. This can be especially helpful when negotiating prices or managing large denominations.
2. Familiarize yourself with banknotes
Learn to recognize different banknotes to avoid confusion, especially between 20,000đ and 500,000đ, which look similar. Double-check before handing over money to avoid costly mistakes.
3. Carry enough cash when leaving cities
In rural areas, ATMs are scarce, and cash is essential. Always carry enough money to cover expenses if you’re traveling off the beaten path.
4. Keep small bills for street shopping
Small denominations like 10,000đ and 20,000đ are ideal for purchases at street food stalls, local markets, and small shops. Vendors often struggle to provide change for larger bills.
5. Use larger bills wisely
Reserve 200,000đ and 500,000đ notes for bigger purchases or at convenience stores like Circle K or Winmart, where change is more readily available.
6. Use Grab with a credit card
For transportation, using Grab with a credit card is not only more convenient but also safer. You’ll avoid the need for cash payments and the risk of being overcharged, which is more common with traditional taxis.
7. Store cash safely
Divide your cash into multiple locations, such as a money belt, your bag, and a secure pocket. This reduces the risk of losing all your money in case of theft or misplacement.
