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:

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. Although banks are a safe option, be prepared for slightly longer processing times and limited operating hours, typically from 8:00 AM to 4:30 PM, Monday to Friday.

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 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. Exercise caution, confirm rates beforehand, and count your money carefully to ensure you’re not shortchanged.

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.

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.

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 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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How to Exchange Foreign Money in Ho Chi Minh City

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