Is it easy to exchange Thai Baht in Vietnam?

[Saigon]

Hi all,

Is it easy to exchange Thai Baht at the main banks or money-changers in Vietnam?

Or will it be better to exchange Thai Baht for US$ in Thailand before going to the

country?

Thank you in advance.

[Wrong Turn]

Yes.

It is easy to change Thai Baht but exchanging USD for VND is easier and more common.

You can exchange Thai Baht at banks.

You can get a better rate at gold shops.

What city / area will you be in?

[Saigon]

Yes.

It is easy to change Thai Baht but exchanging USD for VND is easier and more common.

You can exchange Thai Baht at banks.

You can get a better rate at gold shops.

What city / area will you be in?

Hi, Wrong Turn,

I'll definitely go visit Sai Gon and might go up to Nha Trang, Hoi An and Da Nang.

Thai Baht is not a major currency so it might be hard to find a place to exchange it

out of the major cities and they would probably give you a poor rate if you could

exchange it there.

So it'd be better to take US$ to Vietnam where I'll exchange it for VN dong. What

would you say?

[timber]

Didn't seem to have any problem with Thai Baht, US dollars and Viennese currency. Was amazing at how quickly I got back change in different currencies.

[Jip99]

Very easy to change in HCMC with exchange shops everywhere.

Far better rate in Vietnam than at a Thai airport.

[BangkokHank]

Having left Thailand for Vietnam a year ago, I am now living in Saigon - coincidentally right near the main money-changing shop in the city (135 Dong Khoi Street, near the Opera House and across from the Sheraton and Caravelle hotels). I have bought and sold Thai baht in that shop a few times - at reasonable rates and without any trouble. Outside of Saigon, though, it is better to have US dollars, which can be changed any and everywhere.

[burgdawg]

..take plenty of smaller-USD notes...like $1s and $5s. Coins as well, like quarters.

While you are in VietNam, reflect upon your business experience at any SEVEN in Thailand---what is their core business model?

Selling snacks? Perhaps, that is a sideline. Seven's main business model is providing CHANGE---especially for 1,000b notes.

VietNam doesn't have this and the vendors will work you over. It took me 45 minutes to buy two fresh loaves of bread from a street vendor who refused to give change! Get used to it. I wanted two loaves---she wanted to sell me four for $1 USD.

I did not wish to carry nor eat two extra loaves of bread. This went back and forth. The haggling---if you enjoy it, will make you shine.

I finally got so exasperated, I wanted to cancel the whole transaction. I about missed my cab ride to airport. Change was found! I was going to wait until I boarded the plane to enjoy my snack, I was drained. I checked my loaves---the vendor had swapped out the fresh loaves for two old, moldy ones! This experience repeated itself over and over again in VietNam.

Good luck!

[Tomtomtom69]

..take plenty of smaller-USD notes...like $1s and $5s. Coins as well, like quarters.

While you are in VietNam, reflect upon your business experience at any SEVEN in Thailand---what is their core business model?

Selling snacks? Perhaps, that is a sideline. Seven's main business model is providing CHANGE---especially for 1,000b notes.

VietNam doesn't have this and the vendors will work you over. It took me 45 minutes to buy two fresh loaves of bread from a street vendor who refused to give change! Get used to it. I wanted two loaves---she wanted to sell me four for $1 USD.

I did not wish to carry nor eat two extra loaves of bread. This went back and forth. The haggling---if you enjoy it, will make you shine.

I finally got so exasperated, I wanted to cancel the whole transaction. I about missed my cab ride to airport. Change was found! I was going to wait until I boarded the plane to enjoy my snack, I was drained. I checked my loaves---the vendor had swapped out the fresh loaves for two old, moldy ones! This experience repeated itself over and over again in VietNam.

Good luck!

First of all, coins aren't accepted in Vietnam. So unless you want to bring along some US coins to give away to make friends with Vietnamese people, you're wasting your time. And also, where would you get them from anyway? US coins are only available in the US.

Secondly, there is no advantage of taking USD to Vietnam anymore since the government declared it illegal to accept foreign currencies like USD.

You bring in ANY major currency, which could be USD or EUR and then you exchange them for Dong or hit up an ATM which dispenses ONLY Dong. You spend your Dong everywhere, including at 5-star resorts.

Some businesses might accept USD from tourists as a convenience, but it's not strictly speaking legal nor will you get a good deal - they will probably consider 1 USD to equal 20,000 Dong when these days it's more like 22,000 so for the sake of laziness you'll lose a lot of money. Not to mention only the most touristy places will even accept USD in the first place - supermarkets, businesses outside of the tourist areas won't know what to do with them.

[Tomtomtom69]

Having left Thailand for Vietnam a year ago, I am now living in Saigon - coincidentally right near the main money-changing shop in the city (135 Dong Khoi Street, near the Opera House and across from the Sheraton and Caravelle hotels). I have bought and sold Thai baht in that shop a few times - at reasonable rates and without any trouble. Outside of Saigon, though, it is better to have US dollars, which can be changed any and everywhere.

I wouldn't go to the trouble of exchanging Baht for US dollars only to have to change them again for Dong. Waste of time and money.

Nearly every visitor to Vietnam will be arriving in either Ho Chi Minh (Saigon) or Hanoi first. In both cities, as you say, changing Baht for Dong is a breeze.

Elsewhere such as in Nha Trang, most major currencies can still easily be exchanged. Baht maybe, but it's better to get rid of Baht in Saigon. In fact, it's best you get rid of ALL your foreign currency before you leave a major city like Saigon because by the time you get to Nha Trang or Da Nang and especially smaller, less touristy places, the money changers and banks will offer you a poorer rate.

Not that many travellers still bother carrying large amounts of foreign cash though - if you are running out of money you hit the ATM. Or like most of us, you don't even bring any cash to begin with but just go to the first ATM you find once you land - or if coming by bus from Cambodia, first ATM once you get off the bus in Pham Ngu Lao lane.

Sure you could bring along US$100 or 3000 Baht or so in cash - but how long is that going to last? I don't know anyone who would be bringing US$2000 in cash to spread over their whole trip, what if you get robbed? Much better bring 200-300 bucks (in whatever currency that can easily be converted) and then plan on making 200-300 dollar equivalent withdrawals / pay for hotels and some meal expenses, flights (if you're flying) by credit card.

[Nowisee]

I'm getting ready to go to HCMC end of the month.

This info about not needing to bring USD$ is good to know. Seems unnecessary to take out baht, exchange for USD and the change to Dong. I'll just bring some Baht.

Regarding using the card. I also prefer not to be cash loaded.
According to Bank of Bangkok, the standard issue debit card (without the chip) can be used internationally. I do not know if that means Vietnam or if they hose you with big foreign transaction fees. Rather than call 4 different banks and get 4 different answers, I wonder if any TV members have person experience with this.

This is from BoB website:

When making payments or withdrawing cash overseas with your Be1st Visa Debit card, the amount will be converted to Thai Baht based on Visa's normal exchange rates with a conversion charge added which will not exceed 2.5% of the exchange rate applied. Cash withdrawals will be charged a flat fee of 100Bt.

What is the bold lettering saying exactly? Is this code for foreign transaction fee? I get the 100bt fee... and I'm sure there will be an ATM fee charged by the ATM..

Edited April 7, 2016 by Nowisee

[fatdog 702 inches]

http://www.vietcombank.com.vn/exchangerates/?lang=en

[fatdog 702 inches]

647.00/621.07=1.0417 so 4 percent. doubt if atm will better that when you include small allowed transaction and transaction fees both ends

or do the thb/usd/dong conversions calculation will bkk bank online fx

500000 baht max out to viet before you run into money laundering

see http://www.vietcombank.com.vn/exchangerates/?lang=en

Edited April 7, 2016 by fatdog 702 inches

[Nowisee]

647.00/621.07=1.0417 so 4 percent. doubt if atm will better that when you include small allowed transaction and transaction fees both ends

or do the thb/usd/dong conversions calculation will bkk bank online fx

500000 baht max out to viet before you run into money laundering

see http://www.vietcombank.com.vn/exchangerates/?lang=en

Walk me through this... slowly.

What are you saying?

[siam2007]

Surprisingly you will get the best rates for Thai Baht AT THE AIRPORT! Yes I couldn't believe that too and only changed a small amount just to pay for the Taxi and some snacks first, but I did not find any better rate in downtown in the Pham Ngu Lao district, the main tourist strip.

This applies to both USD as well as Thai Baht. When you exit the arrival area, there are plenty of booths that sell SIMcards, book hotels or Taxis and change money. Some bank counters there too. This is a communist country and the official exchange rates are set by the government.

My experience is as recent as February 2016, HCMC Airport

As NOK AIR nowadays frequently offers one way tickets to HCMC for as low as 1.100 Baht incl Airport Tax (which already makes up 700Baht!) and luggage, Vietnam will be my favorite Visarun destination in the future - and I will always change money at the airport from now on