should i exchange money before i travel to vietnam Vietnam is a popular and affordable destination for travelers from all over the world. However, one of the common questions that many travelers have before visiting Vietnam is: should I exchange money before I travel to Vietnam? How much money should I bring to Vietnam? What is the best way to exchange money in Vietnam? What are the currency and payment options in Vietnam?
In this blog post, I will answer these questions and more. I will give you a complete guide to Vietnamese currency and money matters, including the exchange rates, fees, tips, and tricks. By the end of this post, you will have a clear idea of how to manage your money in Vietnam and avoid any hassle or confusion.
What is the Currency of Vietnam?
The currency of Vietnam is the Vietnamese Dong (VND). The dong comes in both notes and coins, but the coins are rarely used. The notes come in denominations of 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, and 500,000 VND. The notes are colorful and have different sizes and designs. You can see the pictures of the notes here: https://en.wikipedia.org/wiki/Vietnamese_%C4%91%E1%BB%93ng. should i exchange money before i travel to vietnam
The exchange rate of the dong varies depending on the market and the source. As of December 2021, the average exchange rate is about 22,800 VND for 1 USD. You can check the current exchange rate here: https://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=VND.
Should I Exchange Money Before I Travel to Vietnam?
The answer to this question depends on your personal preference and situation. However, in general, it is not necessary to exchange money before you travel to Vietnam. Here are some of the reasons why:
- You can easily exchange money in Vietnam at various places, such as banks, hotels, airports, or money changers. You can also withdraw money from ATMs or use your credit or debit cards in many places. Therefore, you do not need to worry about running out of cash or finding a place to exchange money in Vietnam. should i exchange money before i travel to vietnam
- You can get a better exchange rate in Vietnam than in your home country. The exchange rate in Vietnam is usually more favorable and competitive than the exchange rate in your home country. Therefore, you can save some money by exchanging money in Vietnam instead of before you travel to Vietnam. should i exchange money before i travel to vietnam
- You can avoid carrying too much cash or losing money due to theft or loss. If you exchange money before you travel to Vietnam, you may end up carrying too much cash, which can be risky and inconvenient. You may also lose some money due to theft or loss during your travel. Therefore, it is safer and more convenient to exchange money in Vietnam as you need it. should i exchange money before i travel to vietnam
However, there are some exceptions and situations where you may want to exchange some money before you travel to Vietnam. Here are some of them:
- You are traveling to a remote or rural area where there are no ATMs or money changers. If you are planning to visit a remote or rural area where there are no ATMs or money changers, you may want to exchange some money before you travel to Vietnam. This way, you can have some cash on hand for emergencies or small expenses. should i exchange money before i travel to vietnam
- You are arriving in Vietnam late at night or on a public holiday. If you are arriving in Vietnam late at night or on a public holiday, you may have difficulty finding a place to exchange money or withdraw money from an ATM. Therefore, you may want to exchange some money before you travel to Vietnam. This way, you can have some cash on hand for transportation, accommodation, or food. should i exchange money before i travel to vietnam
- You prefer to have some cash on hand for peace of mind. If you prefer to have some cash on hand for peace of mind, you may want to exchange some money before you travel to Vietnam. This way, you can avoid any hassle or stress of finding a place to exchange money or withdraw money from an ATM in Vietnam.
If you decide to exchange some money before you travel to Vietnam, here are some tips on how to do it:
- Exchange only a small amount of money, such as 100 USD or less. This way, you can avoid carrying too much cash or losing money due to a bad exchange rate or fees. should i exchange money before i travel to vietnam
- Exchange your money at a reputable and reliable place, such as a bank, a currency exchange company, or an online platform. Avoid exchanging your money at the airport, as the exchange rate and fees are usually higher than elsewhere.
- Exchange your money to USD or EUR, as they are the most widely accepted and exchanged currencies in Vietnam. Avoid exchanging your money to other currencies, as they may be harder to exchange or have a lower value in Vietnam. should i exchange money before i travel to vietnam
How to Exchange Money in Vietnam
If you need to exchange money in Vietnam, here are some of the best ways to do it:
- Exchange your money at a bank. Banks are the most reliable and secure places to exchange money in Vietnam. They offer the best exchange rates and fees, and they accept most major currencies. However, banks may have limited opening hours and locations, and they may require some documents, such as your passport or visa. should i exchange money before i travel to vietnam
- Exchange your money at a hotel. Hotels are the most convenient places to exchange money in Vietnam. They are open 24/7 and they are located in most tourist areas. However, hotels may offer lower exchange rates and higher fees than banks, and they may not accept all currencies.
- Exchange your money at a money changer. Money changers are the most common and accessible places to exchange money in Vietnam. They are found in many places, such as airports, markets, shops, or streets. However, money changers may offer varying exchange rates and fees, and they may not be regulated or trustworthy. Therefore, you should be careful and compare different money changers before exchanging your money. should i exchange money before i travel to vietnam
Here are some tips on how to exchange money in Vietnam:
- Check the current exchange rate online or on an app before exchanging your money. This way, you can have an idea of how much money you should get and avoid being ripped off or scammed.
- Count your money carefully before and after exchanging your money. This way, you can avoid any mistakes or discrepancies in the amount of money you receive or give.
- Keep your receipt or confirmation after exchanging your money. This way, you can have proof of your transaction and resolve any issues or disputes if they arise. should i exchange money before i travel to vietnam
- Avoid exchanging your money on the street or with strangers. This way, you can avoid any risks or dangers of being robbed, cheated, or harassed.
How Much Money Should I Bring to Vietnam?
The answer to this question depends on your personal preference and situation. However, in general, Vietnam is a very affordable destination for travelers, and you do not need to bring a lot of money to Vietnam. Here are some of the factors that may affect how much money you should bring to Vietnam:
- Your travel style and budget. If you are a backpacker or a budget traveler, you can travel in Vietnam for as low as 20 USD per day. This includes accommodation, food, transportation, and activities. If you are a mid-range or a luxury traveler, you can travel in Vietnam for about 50 to 100 USD per day. This includes more comfortable accommodation, food, transportation, and activities.
- Your travel duration and itinerary. If you are traveling in Vietnam for a short time or a fixed itinerary, you can estimate how much money you need based on your travel style and budget. If you are traveling in Vietnam for a long time or a flexible itinerary, you may want to bring more money or have access to more money in case of emergencies or changes in your plans. should i exchange money before i travel to vietnam
- Your travel season and destination. If you are traveling in Vietnam during the peak season or the festive season, such as Tet (Vietnamese New Year), you may need more money as the prices may be higher and the availability may be lower. If you are traveling in Vietnam during the low season or the rainy season, you may need less money as the prices may be lower and the availability may be higher. If you are traveling in Vietnam to a popular or touristy destination, such as Hanoi, Ho Chi Minh City, or Halong Bay, you may need more money as the prices may be higher and the demand may be higher. If you are traveling in Vietnam to a remote or rural destination, such as Sapa, Phong Nha, or Mekong Delta, you may need less money as the prices may be lower and the demand may be lower. should i exchange money before i travel to vietnam
Here are some tips on how to bring money to Vietnam:
- Bring a mix of cash and cards. Cash is the most widely used and accepted form of payment in Vietnam, especially for small expenses and local vendors. Cards are also accepted in many places, especially for large expenses and international vendors. Therefore, it is advisable to bring a mix of cash and cards to Vietnam, so that you can have more options and flexibility when paying for things. should i exchange money before i travel to vietnam
- Bring USD or EUR as your cash currency. USD or EUR are the most widely accepted and exchanged currencies in Vietnam. Therefore, it is advisable to
- bring USD or EUR as your cash currency to Vietnam, so that you can exchange them easily and get a good value for your money.
- Bring new and clean notes. Some places in Vietnam may not accept old, torn, or dirty notes, as they may be considered counterfeit or invalid. Therefore, it is advisable to bring new and clean notes to Vietnam, so that you can avoid any hassle or rejection when exchanging or paying with them.
- Bring small denominations. Some places in Vietnam may not have enough change or may not accept large denominations, such as 100 USD or 500,000 VND. Therefore, it is advisable to bring small denominations to Vietnam, such as 1, 5, 10, or 20 USD or 10,000, 20,000, or 50,000 VND. This way, you can pay for things more easily and avoid any inconvenience or confusion. should i exchange money before i travel to vietnam
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What are the Payment Options in Vietnam?
There are many payment options in Vietnam that you can use for different purposes and situations. Some of the main payment options are:
- Cash. Cash is the most common and convenient payment option in Vietnam. You can use cash for almost anything and anywhere in Vietnam, especially for small expenses and local vendors. However, cash may also have some drawbacks, such as being bulky, risky, or limited. should i exchange money before i travel to vietnam
- Cards. Cards are another popular and convenient payment option in Vietnam. You can use cards for many things and places in Vietnam, especially for large expenses and international vendors. However, cards may also have some drawbacks, such as being subject to fees, frauds, or malfunctions.
- Online platforms. Online platforms are a new and emerging payment option in Vietnam. You can use online platforms for some things and places in Vietnam, especially for booking, ordering, or transferring money online. However, online platforms may also have some drawbacks, such as being dependent on internet access, security, or compatibility. should i exchange money before i travel to vietnam
Here are some tips on how to use payment options in Vietnam:
- Use cash for small expenses and local vendors. Cash is the best payment option for small expenses and local vendors in Vietnam, such as street food, taxis, or markets. Cash is more widely used and accepted than other payment options, and it can help you save money on fees or exchange rates. should i exchange money before i travel to vietnam
- Use cards for large expenses and international vendors. Cards are the best payment option for large expenses and international vendors in Vietnam, such as hotels, flights, or restaurants. Cards are more convenient and secure than cash, and they can help you track your spending or earn rewards. should i exchange money before i travel to vietnam
- Use online platforms for booking, ordering, or transferring money online. Online platforms are the best payment option for booking, ordering, or transferring money online in Vietnam, such as flights, hotels, or tours. Online platforms are more fast and easy than cash or cards, and they can help you avoid scams or hassles. should i exchange money before i travel to vietnam
I hope you enjoyed this blog post and found it helpful for planning your trip to Vietnam with official information and advice. Vietnam is a wonderful country that has so much to offer, and I am sure you will have an unforgettable experience. If you have any questions or comments, please feel free to leave them below. Thank you for reading and happy travels! should i exchange money before i travel to vietnam
