Best Place to Change Cash in Vietnam: Avoid Scams and High Fees

The best place to change cash in Vietnam is not the bank or the airport, but reputable gold and jewelry shops in city centers. While banks offer security, gold shops typically provide the highest exchange rates with zero commission. However, for the modern traveler, the ultimate way to manage money is to move beyond physical cash and embrace the VietQR ecosystem through apps like Fizen, which eliminate the risks of carrying large sums.

Is it better to use USD or dong in Vietnam?

While US Dollars (USD) are widely recognized in major cities like Hanoi and Ho Chi Minh City, the Vietnamese Dong (VND) is the only official currency and is far more convenient for daily transactions.

• Fixed Rates: Most shops and restaurants that accept USD will use their own, often unfavorable, exchange rate.
• Small Purchases: Street vendors, local markets, and small cafes strictly accept only VND.
• Legal Perspective: Pricing and contracts in foreign currencies are generally restricted by law.

Verdict: Use USD only as a backup; always pay in Dong to get the best value.

Is it better to use cash or card in Vietnam?

The answer is a hybrid approach. Cash is essential for street food, traditional markets, and remote areas where digital infrastructure is limited. However, cards are widely accepted in hotels, shopping malls, and upscale restaurants.

• Cash Advantages: Essential for tips, small transport (Xe Om), and bargain hunting.
• Card Advantages: Security for large purchases and easy tracking of expenses.
• Transaction Fees: Be aware that many local businesses charge a 3% fee for credit card payments.

Why you should avoid currency exchange at the airport

Changing money at Tan Son Nhat (HCMC) or Noi Bai (Hanoi) airports is convenient but costly. Airport stalls typically offer exchange rates 5% to 10% worse than those in the city center.

Our Expert Tip: If you need money for a taxi or an eSIM upon arrival, exchange only $20–$50 at the airport and wait until you reach the city to change the rest.

Best Places to Change Cash: Gold Shops vs. Banks

In Hanoi, head to Ha Trung Street; in Ho Chi Minh City, look for gold shops near Ben Thanh Market (like Ha Tam Jewelry) for the most competitive rates.

Risks of changing cash in Vietnam you must know

Exchanging physical currency carries several pitfalls that can ruin your budget:

• Counterfeit Polymer Notes: Always check for the "hidden image" and clear windows in higher denomination notes (200k and 500k VND).
• Damaged Bills: Banks and shops often refuse notes that are torn, dirty, or even slightly written on. If they do accept them, they may charge an extra 2% fee.
• The "Magic Hands" Scam: At unregulated street changers, some may count the money in front of you but use sleight of hand to remove a few notes before handing them over.
• Legal Risks: Exchanging money at unlicensed shops is technically illegal and can lead to fines, though this is rarely enforced for small tourist amounts.

How to pay in Vietnam as a foreigner?

To navigate Vietnam like a local, follow these rules:

1. Carry Small Change: Keep 10k, 20k, and 50k bills ready for street vendors.
2. Use Ride-Hailing Apps: Link your card to Grab or Be to avoid cash disputes with drivers.
3. Check the Zeros: VND denominations are high; it's easy to confuse a 500,000 note with a 50,000 note.

How to go cashless in Vietnam?

The most efficient way to go cashless in Vietnam is through QR code payments. The VietQR system is omnipresent, allowing you to pay at over 150k locations, including many street food stalls.

Fizen Super App is the game-changer for international visitors. Instead of worrying about cash exchange rates and risks, you can:

• Pay via QR Code: Scan any VietQR code and pay directly using USDT or USDC.
• Avoid ATM Fees: No need to withdraw millions of Dong and pay high international withdrawal fees.
• Immediate Utility: Use Fizen to buy a local eSIM, book hotels, or even flights before you even leave the airport.

FAQ