Vietnam is still primarily a cash economy. While cards are increasingly accepted in cities, you’ll need Vietnamese dong for most transactions. Here’s everything you need to know about managing money in Vietnam.

Understanding the Currency

The Vietnamese dong (VND) has a lot of zeros. One US dollar equals roughly 24,000-25,000 dong. Your morning pho costs about 50,000 dong ($2). A nice dinner might be 500,000 dong ($20).

Quick mental math: Remove three zeros, then divide by roughly 25. So 250,000 dong ÷ 1000 = 250, ÷ 25 = $10.

Getting Cash

ATMs

• Best banks: Vietcombank, BIDV, and Techcombank typically have lower fees
• Withdrawal limits: Usually 2-3 million dong per transaction ($80-120)
• Fees: Expect 20,000-50,000 dong per withdrawal plus your home bank’s fee
• Tip: Withdraw larger amounts to minimize fee frequency

Currency Exchange

• Best rates: Gold shops (look for “mua vang” signs) offer better rates than banks
• Avoid: Airport exchanges – terrible rates
• Bring: Clean, undamaged USD bills. Torn or marked bills are often refused

Paying for Things

Cash is King

• Street food, markets, taxis – cash only
• Small shops often cash only
• Even some restaurants prefer cash

When Cards Work

• Hotels and upscale restaurants
• Major shopping malls
• Grab payments
• Note: 3% surcharge common for card payments

Common Scams to Avoid

The Bill Switch

You hand over 500,000 dong, they claim you gave 50,000. The notes look similar. Solution: State the amount clearly as you hand it over.

Bad Change

Receiving old, torn notes as change that others won’t accept. Solution: Check your change before walking away.

Counterfeit Bills

Rare but exists. Polymer notes (100,000+) are harder to fake. Solution: Learn what real notes feel like.

Tipping Culture

Tipping is not traditional in Vietnam, but tourism is changing that:

• Restaurants: Not expected, but 5-10% appreciated at nice places
• Tour guides: 50,000-100,000 dong per day is generous
• Spa/massage: 10-15% if service was good
• Porters: 20,000-50,000 dong per bag

Budget Planning

Backpacker budget: $25-40/day (dorms, street food, local transport)

Mid-range: $50-80/day (private room, restaurants, some tours)

Comfortable: $100-150/day (nice hotels, good restaurants, guided tours)