How Best To Pay For Day To Day Expenses While In Vietnam ?

[RickSee]

There was a recent post on this but seems the info is well out of date. Mainly I have the choice of using a USD denominated ATM card, a Thai bank (Kasikorn) ATM card or taking Baht cash with me. Any advice on the best approach for, say, a 2 week visit?

thanks, RS

[mallyrd]

$USD is the preferred choice when it comes to business in Vietnam, that also goes for day to day expenses i.e. hotel accommodation dining out etc.

[PattayaParent]

US$ cash is the best bet.

It's easily changed to Dong and a lot of places will accept it as is.

[RickSee]

Thanks for the replies. Problem is that I live in Thailand and do not have USD notes. So I will have to use either the USD or Baht ATM card or take Baht notes. While I could buy USD notes in Thailand with my Baht, I'm guessing the combined transaction loss would be significant.

RS

[Kaoboi Bebobp]

Thanks for the replies. Problem is that I live in Thailand and do not have USD notes. So I will have to use either the USD or Baht ATM card or take Baht notes. While I could buy USD notes in Thailand with my Baht, I'm guessing the combined transaction loss would be significant.

RS

My Viet GF (we're in Phnom Penh) says Viet ATM only give Viet dong. Maybe there are some designated ATMs with US dollar payouts in HCMC and Hanoi, but I don't know. Sorry I can't be of more help. A check of Viet bank web sites might give you an indication of which country offers the best exchange rate between baht>US dollar. Thai banks are greedy, as you already know I'm sure with a K-Bank account.

Read post from Travelfish.com below

Edit: link addded

Edited November 4, 2011 by Kaoboi Bebobp

[PattayaParent]

^that Travelfish info is 10 years out of date judging by the exchange rate they quote.

ANZ Bank ATM at Hoan Kiem Lake in Ha Noi used to give out US$ around 10 years ago but I don't know about now, all other ATMs will be Dong.

You'll be able to change Thai Baht at VietcomBank branches in Ha Noi but the rate won't be good, but US$ can be changed on the black market for slightly more than the official rate which might offset the combined rate loss. Out side Ha Noi or Ho chi Minh City I doubt anyone would touch Thai Baht.

[tutsiwarrior]

if the OP has a thai Kasikorn Bank cash/debit card then just use that to obtain VN dong from most any ATM in Vietnam, I did for 18 months...the only place that you need USD is at the airport for your VOA...hotel bills, restaurants, etc. all paid for in local currency...no advantage to paying with USD that I can see and one can avoid carrying around large amounts of cash......

[mallyrd]

if the OP has a thai Kasikorn Bank cash/debit card then just use that to obtain VN dong from most any ATM in Vietnam, I did for 18 months...the only place that you need USD is at the airport for your VOA...hotel bills, restaurants, etc. all paid for in local currency...no advantage to paying with USD that I can see and one can avoid carrying around large amounts of cash......

Given that 100 $USD equates to 2.1 million Dong then I would not want to be using an ATM in Vietnam. THB is of no use in either HN or HCM, dollars is really the only way to go.

[tutsiwarrior]

if the OP has a thai Kasikorn Bank cash/debit card then just use that to obtain VN dong from most any ATM in Vietnam, I did for 18 months...the only place that you need USD is at the airport for your VOA...hotel bills, restaurants, etc. all paid for in local currency...no advantage to paying with USD that I can see and one can avoid carrying around large amounts of cash......

Given that 100 $USD equates to 2.1 million Dong then I would not want to be using an ATM in Vietnam. THB is of no use in either HN or HCM, dollars is really the only way to go.

^^

??? given that ATMs in VN dispense VND in 100k and 500k denominations I never had a problem...also a K-bank VISA debit card can be used in a swipe machine in the usual manner at hotels and etc in the main cities for the larger expenses...I never used USD for anything except to obtain visas on arrival at the airport, never used my european VISA credit card...

there is a 20k VND charge at the ATM for withdrawals of 2m VND...I never did check the thb/VND exchange rate from ATM transactions with a K-bank debit card, just glad to have the convenience...

[PattayaParent]

I used my Thai ATM card once in Ha Noi as an experiment and recall there was a large charge at the Thai end but I can't remember what it was.

Enough for me not to do it again though.

[Hardie]

If you're flying, buy enough USD in the transit lounge at BKK after passing thru immigration, easily done...

[Wrong Turn]

ANZ Bank ATM at Hoan Kiem Lake in Ha Noi used to give out US$ around 10 years ago but I don't know about now, all other ATMs will be Dong.

You cannot buy dollars, even inside the ANZ on Hoan Kiem lake.

You have to buy them on the street. The black market (Ha Trung street) has also been shut down.

[smokie36]

I prefer to use Dong...as that's the local currency.

[RickSee]

Just to update on my current experience travelling in the north of Vietnam. As others have said, carrying USD seems to be the best option to pay for daily expenses (directly using the USD or changing locally for Dong). However, if you need to use ATMs for cash, as I did, I found by far the best was using a USD/USA bank card with Agribank ATMs here. I got a consistently good exrate and my USA bank did not levy a transaction charge, while Agribank charged either Dong 20,000 per withdrawal or, a few times, no charge at all. Some of the other Bank ATMs (eg. HSBC) charge a flat 1% per withdrawal. I did try my Kasikorn card and was charged Baht 100 for a single withdrawal, and also got a very poor Baht/Dong exrate. In short, if you must use ATMs in Vietnam, the USD/USA card at Agribank ATMs is a good option.

RS

[Kaoboi Bebobp]

Thanks for the update! Will be travelling in VN sometime in the winter.

What day to day rate were you getting, how many dong to US dollar?

Edited November 29, 2011 by Kaoboi Bebobp

[RickSee]

I was getting about Dong 20,500 to the USD on average (net) thru the Agribank ATMs using my USD bank card.

RS