Vietnam has become one of the most popular long haul destinations for UK travellers, and it is easy to understand why. Ancient towns, dramatic landscapes, incredible food and a coastline that stretches for thousands of kilometres. But before you go, it is worth getting your head around how money works there, because Vietnam has a few quirks that catch first time visitors out.

What Is the Official Currency of Vietnam?

Vietnam uses the Vietnamese dong as its official currency. The currency code is VND and you will see prices displayed with the symbol ₫.

The numbers involved can look alarming at first glance. A bowl of pho might cost 60,000₫, a motorbike taxi ride a few thousand more. But once you get used to the zeros, it becomes second nature. A useful rule of thumb for UK travellers is that roughly 30,000₫ equals about £1 at current rates, though exchange rates fluctuate so always check before you travel.

Banknotes come in denominations of 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000 and 500,000 dong. Coins exist but are rarely used in practice.

A Word of Warning About the Notes

One of the most common mistakes travellers make in Vietnam is confusing the 20,000₫ and 500,000₫ notes. Both are blue and of a similar size. In a busy market or when paying quickly, it is easy to hand over the wrong one. Always take a moment to check the number on the note before you pay, particularly when you have just exchanged money and are not yet familiar with the denominations.

Is the Dong a Closed Currency?

Yes. The Vietnamese dong is not freely traded outside the country and has no real value once you leave Vietnam. This means you cannot buy dong in the UK before you travel, and any dong you have left at the end of your trip should be exchanged back to pounds or dollars before you fly home.

The practical approach is to arrive with some US dollars in cash, which can be exchanged for dong at the airport or at banks and licensed exchange bureaux once you arrive.

Can You Use Pounds or Other Foreign Currencies?

The dong is required for the vast majority of purchases. US dollars are accepted in some hotels and larger tourist businesses, but for day to day spending including local transport, street food, markets and most restaurants, you will need dong.

If a vendor offers you a price in US dollars, you will generally get better value by paying in dong. The exchange rate applied to informal dollar transactions is rarely in your favour.

Exchanging Money in Vietnam

Banks and licensed exchange bureaux in cities and tourist areas offer decent rates. Hanoi, Ho Chi Minh City, Da Nang, Hoi An and Nha Trang all have plenty of options.

Gold shops are also widely used for currency exchange in Vietnam and tend to offer good rates, which can seem unusual to UK travellers but is completely standard practice there.

Avoid street money changers offering rates that seem too good to be true. Counterfeit notes and short changing are genuine risks with unlicensed sellers.

Using ATMs in Vietnam

ATMs are widely available in cities and tourist areas. Most major international bank cards are accepted, though it is worth trying a few machines if one does not work with your card, as not all ATMs accept every card type.

ATM withdrawal limits in Vietnam can be relatively low per transaction, sometimes around 2,000,000₫ to 3,000,000₫ (roughly £65 to £100), which means you may need to make several withdrawals over the course of a trip. Each withdrawal can incur a fee, so it is worth taking enough USD with you not to need to rely on ATMs.

Stick to ATMs attached to reputable banks rather than standalone machines in tourist areas, which carry a higher risk of card skimming.

Paying by Card in Vietnam

Card payments are accepted at hotels, many larger restaurants and some shops in the main cities and tourist areas. Away from these places, Vietnam is still very much a cash economy. Street food, local transport, markets, smaller guesthouses and most day to day spending will require dong in cash.

If you are given the option to pay in pounds rather than dong at a card terminal, always choose dong. Paying in your home currency through Dynamic Currency Conversion almost always means a worse rate.

Is Cash or Card Better in Vietnam?

Cash is essential for most of a trip to Vietnam. While cards are useful for hotels and occasionally for larger purchases, dong in cash is what you will need for the majority of spending. It is also worth noting that bargaining is expected at markets and some smaller shops, which is a cash based interaction.

Carry enough for a few days at a time and top up at bank ATMs in the cities as you travel around.

Tipping in Vietnam

Tipping is not a traditional custom in Vietnam, but it is increasingly appreciated in tourist areas, particularly in restaurants, hotels and for tour guides and drivers. A small amount, around 10 percent in a restaurant or a few dollars equivalent for a guide, is a thoughtful gesture for good service.

Always tip in cash.

How Much Does Vietnam Cost?

Vietnam is excellent value for UK travellers. Street food meals can cost as little as 30,000 to 60,000₫, roughly £1 to £2. Even mid range restaurants are affordable by UK standards, and accommodation, transport and entrance fees are all very reasonably priced outside of the premium hotels.

A comfortable daily budget covering food, local transport and activities might be around £30 to £60, depending on your travel style.

Practical Money Tips for Visiting Vietnam

• Arrive with US dollars in cash to exchange for dong on arrival, as dong cannot be bought in the UK

• Get familiar with the note denominations quickly, and always double check before handing money over

• Use bank attached ATMs rather than standalone machines, but cash is better

• Withdraw a useful amount each time to minimise transaction fees

• Pay in dong rather than dollars or pounds wherever possible

• Exchange or spend any remaining dong before you fly home, as it cannot be used outside Vietnam

• Let your bank know you are travelling before you leave the UK

Ready to Sort Your Travel Finances?

Because the Vietnamese dong is not available to buy in the UK, the best preparation is to arrive with a currency that exchanges well in Vietnam, particularly US dollars in cash. At TravelCash we offer great exchange rates with 0% commission on US dollars and a wide range of other currencies.

Find your nearest TravelCash bureau and get sorted before you fly.