How to Exchange Foreign Money in Ho Chi Minh City

Exchanging foreign money can be a hassle when travelling to a new country

Ho Chi Minh City, Vietnam’s bustling economic hub, is a popular destination for tourists and business travelers alike. Whether you're visiting for leisure or work, you’ll likely need to exchange your foreign currency for Vietnamese Dong (VND). Here's a guide to help you navigate the process of exchanging money in Ho Chi Minh City to get the best exchange rates safely and conveniently.

Banks: Best Place to Exchange Money in Vietnam Safely

If you need some quick and foolproof option, just go to the nearest bank!

Banks are the most reliable and secure places to exchange foreign currency in Ho Chi Minh City. Major banks such as Vietcombank, BIDV, and Sacombank have branches throughout the city, offering competitive exchange rates. To exchange money at a bank, you’ll need your passport and the foreign currency you wish to convert. To exchange money, bring your passport and foreign currency. Note that banks typically operate between 8:00 AM to 4:30 PM on weekdays.

While banks might not always offer the absolute best exchange rate, they are among the safest places to go. Plus, their rates are regulated, which reduces the risk of scams or counterfeit currency. For tourists asking, "What is the best place to exchange money in Vietnam?" banks are a solid choice if you prioritize safety.

Currency Exchange Counters

Check the up-to-date exchange rate and have clear communication to avoid any misunderstanding

Licensed currency exchange counters are another convenient option. These counters are located in major shopping malls, tourist areas, and international airports like Tan Son Nhat. They often provide reasonable rates with quicker transactions compared to banks. Ensure you choose a licensed counter, usually supported by official banks here, to avoid scams or counterfeit currency. Always check the rates before exchanging, as they may vary between counters. One of the counters with good rates that we would recommend is here.

Gold Shops

Gold shops in Ho Chi Minh: one of the best place to exchange money in Vietnam if you're focused purely on getting the highest rate.
Gold shops in Ho Chi Minh city are popular to the locals for its convenience when they need some cash

The gold shops close to Ben Thanh Market are popular among locals and savvy travelers for currency exchange. These shops often offer better rates than banks and exchange counters. However, they operate in a legal gray area, and exchanging money here may not be officially sanctioned. Double-check the math, count your money in front of the seller, and don’t hesitate to walk away if something feels off.

While not officially recommended by the government, some still view these shops as the best place to exchange money in Vietnam if you're focused purely on getting the highest rate.

ATMs for Cash Withdrawals

Make sure to check if your card is eligible for the ATMs (it is usually shown on the machine!)

Another practical way to obtain VND is by using ATMs. You can withdraw cash in local currency using your foreign debit or credit cards. Although ATMs are convenient, they often come with withdrawal fees and may not offer the best exchange rates, and the limit is between 3,000,000 - 5,000,000 VND/transaction, depending on the local bank. Check with your bank beforehand to understand applicable charges and withdrawal limits. This is a good option if you prefer a cashless arrival and want to withdraw VND as needed, although it may not be the best way to exchange money in Vietnam if you're fee-conscious.

Hotels and Tour Agencies

Hotels in Saigon offer a great varieties of services, money exchange included

Some hotels and tour agencies also offer money exchange services. While this is convenient, especially for those staying in high-end hotels, the rates are usually less favorable compared to banks or exchange counters. Use these services as a last resort, especially if you're in urgent need of cash.

What Do Vietnam’s Banknotes Look Like?

Before you head out, familiarize yourself with the current Vietnam currency notes. Banknotes currently in circulation include:

1,000 VND
2,000 VND
5,000 VND
10,000 VND
20,000 VND
50,000 VND
100,000 VND
200,000 VND
500,000 VND

current vietnam currency notes

A complete look at all current Vietnam currency notes—know your cash before you spend!

The notes are colorful and easy to recognize, but be careful not to confuse denominations—especially 20,000 and 500,000 VND notes, which look somewhat similar in color.

current vietnam currency notes, 200.000VND, 500.000VND

Watch out! 20,000 VND and 500,000 VND notes can look alike—double-check before paying!

Tips for Safe Currency Exchange

When exchanging money in Ho Chi Minh City, always check the current exchange rate to avoid being overcharged. Websites, mobile apps, or online currency converters can provide real-time rates. Be cautious of street vendors offering to exchange money, as this often leads to scams or counterfeit bills. Additionally, inspect the Vietnamese Dong you receive for authenticity and avoid accepting damaged or excessively worn bills, as vendors may not accept them.

If you are unsure about exchange money in Vietnam or anything, our local guides can be helpful to make your trip to Saigon more enjoyable
If you are unsure about anything, our local guides can be helpful to make your trip to Saigon more enjoyable

Exchanging foreign money in Ho Chi Minh City is a straightforward process if you know where to go and what precautions to take. Whether you choose banks, licensed exchange counters, or ATMs, always prioritize safety and transparency. With a little preparation, you can ensure a smooth and hassle-free experience, leaving you ready to explore all that this vibrant city has to offer

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