The ultimate guide to exchange currency in Vietnam

Did you know that the exchange rates at gold shops are higher than at banks in Vietnam? How to keep your money safe and avoid scams, fake money, and getting ripped off when exchanging money in Vietnam? Whether you are a traveler who is going to visit Vietnam or have already been in the country, an expat living and working in Vietnam at the current time or in the near future, this ultimate guide to exchange currency in Vietnam is helpful to you.

The ultimate guide to Vietnamese currency

How to calculate live currency and foreign exchange rates?

You can visit xe.com – a website offering free historical charts and rate tables and providing a foreign exchange service. The most useful functions of XE are perhaps the currency converter which calculates live currency and foreign exchange rates. You can also install XE Currency Converter & Money Transfer app on your smartphones and use excellent features.

Read more about Top 10+ Essential Travel Apps you need for a trip to Vietnam.

Where to exchange currency in Vietnam?

Banks

Pros of exchanging money at banks:

• Trusted and legal places to exchange money.
• Customers do not need to worry about fake money.
• Safe places where there are security cameras and security guards.
• Well-trained staff is friendly and helpful. They may speak English fluently, some English or limited English. But they always do their best to help foreigners who do not speak Vietnamese.
• There are air-conditioning systems so that customers feel comfortable despite a long time waiting.
• Customers avoid getting ripped off by thieves.

Cons of exchanging money at banks:

• Exchanges rates offered by banks are usually lower than at gold shops and currency exchange shops.
• Old and damaged notes can not be accepted at banks.
• Bank branches usually close for lunch. For example, they close from 11:30 AM to 1:00 PM.

Which banks to choose?

Vietnam has about 50 public banks, foreign banks, joint-stock commercial banks and more than 5,000 bank branches. Exchange rates offered by different banks change every day. It is difficult to tell you which bank is the best place to exchange money. Visit websites of top banks, compare exchange rates and go to the bank having the highest rate to exchange your money. You can check the exchange rates at top banks in Vietnam by visiting the following links:

1. Agribank exchange rate (English).
2. Vietcombank exchange rates (English).
3. ACB exchange rate (English).
4. Techcombank exchange rate (English).
5. Sacombank exchange rate (Vietnamese).
6. VietinBank exchange rate (English), VietinBank exchange rate (Vietnamese).
7. BIDV exchange rate (English).
8. LienVietPostBank (Vietnamese).
9. Maritime Bank exchange rate (not official site of Maritime Bank, Vietnamese).
10. MBBank exchange rate (Vietnamese).
11. VIB exchange rate (English).
12. VP Bank exchange rate (Vietnamese).
13. TP Bank exchange rate (English).
14. SHB Bank exchange rate (English).
15. HSBC exchange rate (English).
16. ANZ exchange rate (Vietnamese).
17. Nam A Bank (Vietnamese).

*Note: if the after clicking a link with English note but the language is in Vietnamese, find a language bar at the top or bottom of the website to change the language into English.

Most trusted Vietnam’s commercial banks in 2019 listed by Vietnam Report include Vietcombank, VietinBank, Techcombank, BIDV, MB Bank, VPBank, Agribank, ACB. Shinhan Bank and Standard Chartered Bank are good foreign banks in the country. The top banks having the largest numbers of branches in Vietnam include Agribank, LienVietPostBank, VietinBank, BIDV, Sacombank, Vietcombank, ACB, Techcombank, SHB, MB Bank, Maritime Bank. Prior to September 2019, there are more than 1,300 branches, occupying 50% of the bank branches in the entire country.

In major metropolitan cities and centers of provinces, you have many choices of banks. In rural areas, there are a few bank branches, sometimes only one bank branch. It is better to exchange currency before going to remote areas and Vietnam’s countrysides.

How to search for locations of banks?

• Type “bank” in the search box on Google Maps.
• A list of banks around you and their locations should appear.

Money exchange shops inside or around tourist attractions and at airports

Pros of exchanging money at money exchange shops:

• Trusted and legal places to exchange money.
• The staff speak English fluently and are trained to provide the best service for foreigners.
• Most of the money exchange shops open with no lunch closure.

Cons of exchanging money at money exchange shops:

• Many exchange shops are rather small and you may wait for a long time in high demand.
• Exchange rates offered by these exchange shops are usually lower than at gold shops.
• Some old and damaged notes can be accepted at the shops.
• Many thieves are around the currency exchange stalls and you may be ripped off.

Gold shop

Pros of exchanging money at gold shops:

• Exchange rates are relatively high.
• They accept old and damaged notes but the exchange rates for old ones are lower than new ones.
• Some gold shops have not been certified to exchange money by the government. If they get caught, your money will be confiscated and you may be punished.
• The staff speaks limited English. Some gold shops in tourist hotspots specialize in currency exchanges so that the staff speaks good English. I will list these gold shops later.
• Most of the gold shops open with no lunch closure.

Cons of exchanging money at gold shops:

• Well-known gold shops that offer good services and high exchange rates are usually packed with customers. You should go there in the early morning so that you do not spend your time waiting in a long line.
• Many thieves are around gold shops and you may be ripped off.

Exchange currency with a Vietnamese citizen

Sometimes, travelers need to exchange $50-100 USD into Vietnamese Dong but do not have time to go to bank branches or money changers. They can ask receptionists at hotels, tour guides, waiters at restaurants or bars in backpacker areas, owners at AirBnb to exchange currencies. Although it is convenient and simple, the prices are relatively low. In addition, it is considered illegal and unsafe.

Black market

In Vietnam, the black market operates quite liberally. Many shops happily exchange money, commonly US dollar for Vietnamese Dong and vice versa. Although the black market is illegal, it still exists thanks to weak law enforcement. The only benefit of the black market is the convenience. The cons include counterfeits and low exchange rates. However, exchange rates in some places are rather high because they would like to have more customers.

Where to exchange currency in Vietnam?

Best places to exchange currency in Hanoi

• Noi Bai International Airport.

Hanoi Old Quarter

Bank branches in Hanoi Old Quarter

• SHB Bank, 71 Hang Trong Street, Hoan Kiem District, Hanoi. It is across Hoan Kiem Lake. It is 270 m from Hoan Kiem Lake and 250 m from St. Joseph’s Cathedral.
• Jpmorgan Chase N.A. Bank, 6 Nha Tho Street, Hoan Kiem District, Hanoi. It is across Hoan Kiem Lake. It is 270 m from Hoan Kiem Lake and 250 m from St. Joseph’s Cathedral.
• BIDV Bank, 25 Dinh Tien Hoang Street, Hang Trong Ward, Hoan Kiem District, Hanoi. It is across Hoan Kiem Lake.
• MB Bank, 81 Nguyen Huu Huan Street, Hang Bac Ward, Hoan Kiem District, Hanoi. It is 200 m from The Huc Bridge and Hoan Kiem Lake.
• ACB Bank, 90A Nguyen Huu Huan Street, Hang Bac Ward, Hoan Kiem District, Hanoi. It is 200 m from The Huc Bridge and Hoan Kiem Lake.
• SCB (Saigon Commercial Bank), 31 Ta Hien Street, Hoan Kiem District, Hanoi. It is 350 m from Dong Kinh Nghia Thuc Square. The bank branch is at the crossroads of Luong Ngoc Quyen, Dinh Liet Streets and the famous Ta Hien Street.
• VietinBank, 35-37 Hang Bo Street, Hang Gai Ward, Hoan Kiem District, Hanoi. It is 200 m from Hanoi Night Market.

Gold shops in Hanoi Old Quarter

• Quoc Trinh Gold Shop, 27 Ha Trung Street, Hoan Kiem District, Ha Noi. It is 2 minutes walking distance from the Vietnam National Tuong Theater.
• Kim Linh Jewelry, 67 Hang Bac Street, Hoan Kiem District, Ha Noi. It is 2 minutes walking distance from Hanoi Ancient House.
• Tu Binh Jewelry, 54 Hang Bac Street, Hoan Kiem District, Ha Noi. The jewelry shop is across Queen Hotel Hanoi.
• Phu Van Jewelry, 25 Luong Ngoc Quyen Street, Hang Buom Ward, Hoan Kiem District, Ha Noi. The jewelry shop is located across Vietnam Guest House.
• Manh Hung Jewelry, 51 Ha Trung, Hoan Kiem District, Ha Noi. It is 2 minutes walking distance from the Vietnam National Tuong Theater.
• Hanoi Money Exchange, 19B Hang Be Street, Hoan Kiem District, Ha Noi. The shop is 5 minutes on foot from Hoan Kiem Lake.

Other areas

Bank branches in other areas

• Lien Viet Post Bank, Capital Tower, 109 Tran Hung Dao Street, Cua Nam Ward, Hoan Kiem District, Hanoi. It is nearly 100 m from the entrance to Hanoi Railway Station.
• Nam A Bank, 68 Nguyen Khuyen Street, Van Mieu Ward, Hoan Kiem District, Hanoi. It is nearly 1km from the Temple of Literature.
• Vietinbank Dien Bien, 66 Ngoc Ha Street, Ngoc Ho Ward, Ba Dinh District, Hanoi. It is 400 m from Ho Chi Minh Mausoleum, One Pillar Pagoda, and Ho Chi Minh Museum – Hanoi Branch.
• ACB Bank Au Co, 49 Au Co Street, Quang An Ward, Tay Ho District, Hanoi. It is nearly 270 m from InterContinental Hanoi Westlake.
• OceanBank Hoan Kiem, 49 Hai Ba Trung Street, Hang Bong Ward, Hoan Kiem District, Hanoi. It is across Hoa Lo Prison Museum and Somerset Grand Hanoi Hotel.

Gold shops in other areas

• Vang Hoang Tin Gold Shop, 124 Nguyen Thai Hoc Street, Ba Dinh District, Ha Noi. It is 2 minutes walking distance from Kim Ma bus station.
• Bao Tin Minh Chau Jewelry Store, 29 Tran Nhan Tong Street, Hai Ba Trung District, Ha Noi. It is 3 minutes walking distance from Bay Mau Lake.
• Kim Chung Gold Shop, 24 Tay Son Street, Dong Da District, Ha Noi, Vietnam. It is located near Dong Da General Hospital and Thai Ha Church.
• Bao Minh Jewelry, 4B Tran Nhan Tong Street, Hai Ba Trung District, Ha Noi. It is next to Polonez Hotel.

Read more about 10+ Best Places to Exchange Currency in Hanoi, including opening hours, phone numbers, and websites.

Best places to exchange currency in Ho Chi Minh City

• Tan Son Nhat Airport.

Saigon Backpacker Area

Gold shop in Saigon Backpacker Area

• Kim Mai Gold Shop, 84C Cong Quynh Street, Pham Ngu Lao Street, District 1, Ho Chi Minh City. It is located in Saigon Backpacker Area so that it is a favorite place of backpackers to exchange currency.

Bank branches in Saigon Backpacker Area

• SaigonBank, 333 Pham Ngu Lao Street, Pham Ngu Lao Ward, District 1, Ho Chi Minh City.
• VietinBank, 125 Cong Quynh Street, Nguyen Cu Trinh Ward, District 1, Ho Chi Minh City.
• ACB Cong Quynh, 108 Cong Quynh Street, Pham Ngu Lao Ward, District 1, Ho Chi Minh City.
• SCB (Saigon Commercial Bank), 242 Cong Quynh Street, Pham Ngu Lao Ward, District 1, Ho Chi Minh City.

Ben Thanh Market

Gold shop around Ben Thanh Market

• Ha Tam Jewelry Shop (Ha Tam Money Changer), 2 Nguyen An Ninh Street, Ben Thanh Ward, District 1, Ho Chi Minh City. It is located across the West entrance of Ben Thanh Market.
• Ben Thanh Money Changer, 30-36 Phan Boi Chau, Ben Thanh, District 1, Ho Chi Minh City. It is located about 9 meters away from the West entrance of Ben Thanh Market.
• Hoang Thu, 178 Le Thanh Ton, Ben Thanh, District 1, Ho Chi Minh City. It is located across the North entrance of Ben Thanh Market.
• Ben Thanh Jewelry, 166 Le Thanh Ton Street, Ben Thanh Ward, District 1, Ho Chi Minh City.

Bank branches around Ben Thanh Market

• Vietinbank, 13 Phan Chu Trinh Street, Ben Thanh Ward, District 1, Ho Chi Minh City. It is located across the West entrance of Ben Thanh Market.
• Vietcombank District 1, 231 – 233 Le Thanh Ton Street, Ben Thanh Ward, District 1, Ho Chi Minh City. It is less than 100 m from Ben Thanh Market.

Ben Nghe Ward

• Hung Long Money Changer, Gold Key Watch & Jewelry, 86 Mac Thi Buoi Street, Ben Nghe Ward, District 1, Ho Chi Minh City. The money changer is located near Sheraton Saigon Hotel.
• Therese Jewelry, 9 Nguyen Thiep, Ben Nghe, District 1, Ho Chi Minh City.
• Eximbank Money Exchange 59, 135 Dong Khoi Street, Ben Nghe Ward, District 1, Ho Chi Minh City. The money exchange shop is situated near Sheraton Saigon Hotel.
• 109 Ho Tung Mau Street, Ben Nghe Ward, District 1, Ho Chi Minh City. The money changer is situated near Bitexco Financial Tower.
• Minh Thu, 12 Le Loi, Ben Nghe, District 1, Ho Chi Minh City.

Read more about 10+ Best places to exchange currency in Ho Chi Minh City, including opening hours, phone numbers, and websites.

Best places to exchange currency in Danang

• Danang International Airport.
• Bank branches:
  • Vietcombank, 142 Le Loi Street, Thach Thang Ward, Hai Chau District, Da Nang. It is about 750 m from Han River Bridge.
  • State Bank of Vietnam Da Nang Branch, 5 Le Duan Street, Hai Chau 1 Ward, Hai Chau District, Da Nang. It is about 250 m from Han River Bridge.
  • Viet A Bank, 33 Hung Vuong Street, Hai Chau 1 Ward, Hai Chau District, Da Nang. It is about 650 m from Han River Bridge.
  • Vietinbank Song Han, 36 Tran Quoc Toan Street, Hai Chau 1 Ward, Hai Chau District, Da Nang. It is about 350 m from Han Market.
  • Asia Commercial Bank Da Nang (ACB), 218 Bach Dang Street, Phuoc Ninh Ward, Hai Chau District, Da Nang. It is about 450 m from Han Market.
  • Shinhan Bank, 1 Nguyen Van Linh Street, Binh Hien Ward, Hai Chau District, Da Nang. It is about 100 m from Da Nang Museum of Cham Sculpture and 160 m from Dragon Bridge.
  • MB Bank, 14-15 Nguyen Van Linh Street, Binh Hien Ward, Hai Chau District, Da Nang. It is about 100 m from Da Nang Museum of Cham Sculpture and .
  • Da Nang Tien Phong Bank, 271 Nguyen Van Linh Street, Vinh Trung Ward, Thanh Khe District, Da Nang. It is about 200 m from Nguyen Van Linh Post Office.
  • HD Bank Hoa Cuong, 376 Nui Thanh Street, Hoa Cuong Bac Ward, Hai Chau District, Da Nang. It is about 1 km from Sun World Da Nang Wonders.
  • Agribank Son Tra, 34 Pham Van Dong Street, An Hai Bac Ward, Son Tra District, Da Nang. It is about 1.7 km from My Khe beach.
  • BIDV Ngo Quyen, 980 Ngo Quyen Street, An Hai Bac Ward, Son Tra District, Da Nang. It is about 750 m from Dragon Bridge.
  • Vietinbank Vo Van Kiet, Vo Van Kiet Street, Phuoc My Ward, Son Tra District, Da Nang. It is about 900 m from My Khe beach.
  • Vietcombank Da Nang Sun Nam, 537 Tran Hung Dao Street, An Hai Tay Ward, Son Tra District, Da Nang.

• Stores of Vietnam’s top jewelry stores including PNJ, SJC, DOJI:
  • PNJ Jewelry Store, 72 Tran Phu Street, Danang.
  • PNJ Big C Vinh Trung, 255-257 Hung Vuong Street, Danang.
  • PNJ Lotte Danang, ground floor, Lotte Mart, 6 Nai Nam Street, Danang.
  • DOJI Le Duan, 204-206 Le Duan Street, Thanh Khe District, Danang.
  • DOJI Hung Vuong, 172 Hung Vuong Street, Hai Chau District, Danang.
  • DOJI Lien Chieu, 715 Ton Duc Thang Street, Lien Chieu District, Danang.
  • SJC Central Branch (SJC Mien Trung), 185 Nguyen Van Linh Street, Nam Duong Ward, Hai Chau District, Danang.
  • SJC Diagold Hung Vuong, 169 Hung Vuong Street, Hai Chau District, Danang.
• Offices of tour operators and travel agencies:
  • Bac My An Tourism Joint Stock Company, 68 Ho Xuan Huong Street, Ngu Hanh Son District, Da Nang. It is 220 m from Fusion Maia Da Nang.
  • Ben Thanh – Non Nuoc Tourist Company, 255 Huyen Tran Cong Chua Street, Hoa Hai Ward, Ngu Hanh Son District, Da Nang.
  • Hoang Dat Silver Shores Exceptional International Entertainment Company, 8 Truong Sa Street, Khue My Ward, Ngu Hanh Son District, Da Nang.
  • Vitours Joint Stock Company, Bamboo Green Hotel, 158 Phan Chau Trinh Street, Phuoc Ninh Ward, Hai Chau District, Da Nang.
  • Phuong Dong Viet Tourism Joint Stock Company, 97 Phan Chu Trinh Street, Hai Chau District, Da Nang.
  • Green Plaza Da Nang Hotel, 223 Tran Phu Street, Phuoc Ninh Ward, Hai Chau District, Da Nang.
  • Hoang Tra Hotel, Truong Sa Street, Khue My Ward, Ngu Hanh Son District, Da Nang.
  • Big C Shopping Mall, 257 Hung Vuong Street, Thanh Khe District, Da Nang.
  • Vinh Trung Shopping Mall, 255 Hung Vuong Street, Vinh Trung Ward, Thanh Khe District, Da Nang.

Read more 10+ Best places to exchange currency in Da Nang with locations, opening hours, telephone numbers.

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Tips on exchanging money in Vietnam

• Carry your passport if you exchange a large amount of currency.
• Larger denomination notes get a better exchange rate than small ones. So that it is recommended to carry high denomination notes.
• The airport bus fare costs VND 40,000 or $2 USD (~VND 46,000). There are lots of benefits paying for foods and other services in Vietnamese Dong when you are in Vietnam.
• Read more about 40+ Tips to keep money safe when traveling in Vietnam.
• Here are some tips to avoid being ripped off in Vietnam

How to avoid being ripped off in Vietnam?

• Never exchange currency at night.
• It is better to go straight to your hotel after exchanging currency.
• If you carry a large amount of money, take a taxi instead of taking a motorbike taxi or walking.
• If you have some options, choose an exchange currency stall or a gold shop in a building. Customers are easily ripped off by exchanging currency at exchange currency stalls or gold shops on the streets.
• Wear a backpack instead of a handbag or a purse.

Summary on the ultimate to guide to exchange currency in Vietnam

You can easily find a place to exchange currency in Vietnam. You can exchange currency legally at currency exchange stalls at airports, in shopping malls, in tourist hotspots, and areas where there are many foreigners, bank branches, gold shops, jewelry stores, hotels, and resorts. Besides, the black market still exists, it is not recommended if you are not in a hurry. Note that larger denomination notes get better exchange rates. Old, contaminated, or damaged notes get lower exchange rates. You are easily ripped off by a currency exchange in Vietnam. It is recommended to go to your hotel by taxi after exchanging a large amount of money.