Money and Banking matters

The local currency is the Vietnam Dong (VND) and currency denominations (all in notes) are 500, 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000 and 500,000. The 500,000 and 20,000 notes are both in very similar shades of blue, so be careful when making payment.

If you wish to exchange your foreign currency notes for local currency, there are a few options including (but not limited to) banks ( this may require you to hold a bank account), hotel cashiers, and shops.

There are plenty of ATMs in Hanoi and international banks such as Citibank, HSBC, and Standard Chartered Bank all have ATMs in Hanoi. You may withdraw local currency through both the local and international banks’ ATM directly from your bank account overseas. To minimise fees and charges, the bank’s ATM from which you are withdrawing cash should ideally be using the same global banking network as your overseas bank. Credit card withdrawals will inevitably be the most expensive option for ATM withdrawals.

Where you wish to set up a local bank account, factors to consider include: proximity to its branch network, ease of communication with bank staff, as well as the availability of mobile/internet banking in English. Today, most local banks support instantaneous local funds transfer via internet/mobile banking, easing the payment needs of consumers. It is normally possible to open both Vietnamese Dong and U.S. Dollar accounts. Banks will require you to present your passport, visa, or Temporary Resident Permit (TRC) and address proof to open the account.