Banking Hours

Normal banking hours are from 8:00 to 11:30 am and from 1:00 to 4:00 pm Monday through Friday and 8:00 to 11:30 am on Saturday. A few banks in the major metropolitan areas will remain open during lunch hour and on Saturday afternoons and Sundays. Currency is also readily exchanged at official exchange counters at hotels and other retail establishments; the exchange rates are nearly identical to the bank rates.

Convertible Currencies

All major currencies including the sterling, the Yen, the Canadian dollar, the Euro and the U.S. dollar are convertible. The preferred currency is the U.S. dollar. Please note bills which are defaced, torn or simply old are often declined; be sure and bring fresh new bills.

Re-conversion upon Departure

It is illegal to take VND out of the country. Small amounts of VND can be redeemed upon departure at airport kiosks; large amounts require the initial transaction documents.

Vietnamese Dong

The currency of Vietnam is the "Dong" issued in the following denominations:

• 200d
• 500d
• 1000d
• 2000d
• 5000d
• 10,000d
• 20,000d
• 50,000d
• 100,000d
• 500,000d.

Recommended Currency for Spending

Vietnamese Dong. Spending in other currencies, including the USD, often results in "rounding off" to your disadvantage.

Exchange Rates

Please go to http://www.oanda.com for current Dong exchange rates. At the moment of this printing 1USD = 15,800d, and 1 EUR = 19,800d.

Black Market

It is strongly advised that you exchange your currency only at official currency exchanges; black market rates are less than the official exchange rate.

Credit Cards

Major credit cards (Visa, MasterCharge and to a lesser extent American Express) are finally beginning to find wider usage in Vietnam as more and more establishments accept them; in major cities nearly all major and mid-level hotels, restaurants and major tourist shops now accept credit cards. Except for the higher end hotels most establishments charge a three-percent transaction fee; some establishments charge a five-percent surcharge.

ATM Machines

ATM machines have arrived in Vietnam. Vietcombank has an expanding network of ATM machines in the major cities of which many are open for 24-hours. The machines currently accept only Visa and MasterCharge. The maximum daily withdrawal is two-million VND per transaction with a Vietnam 20,000 VND service charge which is in addition to your bank's charges. A four-digit PIN number is required. Foreign banks are also entering the ATM market. Larger cash advances require a visit to the teller.

Traveler's Checks

Traveler's checks denominated in most major currencies are accepted in Hanoi and Ho Chi Minh City but USD is the preferred currency. Traveler's checks issued by Visa, MasterCharge and American Express are the most widely accepted. Outside of Hanoi and Ho Chi Minh City it is often difficult to redeem traveler's checks. The purchase receipt and the traveler's check numbers should be kept separately from the traveler's checks in the event of loss. A redemption fee of up to four-percent is charged. Passport ID is required for redemption.

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