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Private tailor-made journeys of a life time
Jul 13, 2023
By Ms. Minh Thu
You are planning to travel to Saigon (Ho Chi Minh City), Vietnam in the next few days, but you are wondering about what the best places to exchange money in Saigon are. Then take some time to read this article. Vietnam Escape Tours has compiled useful information for you when exchanging money in Saigon in particular and Vietnam in general.
The “Viet Nam Dong" or simply "Dong", is the official unit of money in Ho Chi Minh City. The State Bank of Vietnam distributes the Dong, which has been the country of Vietnam's official money since 1978.
Vietnam no longer uses coins, therefore there are currently just two types of currency in circulation: the Polymer note, which comes in denominations of 500,000, 200,000, 100,000, 50,000, 20,000, and 10,000 VND, and the Cotton note, which comes in denominations of 5,000, 2,000, 1,000, 500, and 200 VND.
The last two cotton notes, 500 VND and 200 VND, however, are rarely employed because of their inadequate worth.
Vietnam currency
If you come to Vietnam for tourism, changing money to Vietnam Dong will be a definite must-do. Not to mention, if you use foreign currency in Vietnam, which is not supported by the law, it will make it difficult for sellers or service providers when you give them a strange bill.
Currently, paying by banking is very popular, even at many markets or sidewalk shops, sellers also provide their bank account numbers or QR codes for you to pay by phone. However, it is still better to have cash in case there are places that do not use online banking.
Airport
In many airports, you can see many exchange places with a huge sign saying “Currency Exchange”. These spots are notorious for having a bad exchange rate. Here, you’ll rarely have good experiences. As a result, airports are not regarded as the best places to exchange money in Saigon. If it is absolutely necessary to have some Vietnam Dong, paying for a taxi or bus for example, then you could get a small amount of money here, but no more than that.
Currency exchange at an airport
Banks
Banks are everywhere and they are very competitive in offering Vietnam Dong at the best rate. Normally, banks are equipped with many money-counting machines, which facilitate exchanging money in large amounts. Ample space and professional staff are the other two pluses. The well-known large banks to be aware of are Vietinbank, Vietcombank, Agribank, BIDV, etc. You might have to wait a while, and a fee of 0.5% to 2% will be applied. Always carry new notes if you plan to exchange money at a bank; dirty or damaged notes will result in an extra charge of 2% of the note's face value. In short, if you are finding a safe place to exchange money in Saigon, these banks shouldn’t be missed.
Hotels
If you have not found a bank or a gold shop nearby to exchange money, going down to the lobby at the hotel you just checked in and asking the staff for this service is also a good option. This way not only saves time and effort, but you also do not have to take money to go out to the street, where you are not familiar. But the good or bad exchange rate will depend on the hotel you are staying at. If the hotel is small, you may have to pay extra. So despite not being considered one of the best places to exchange money in Saigon, hotels are good places to try.
Exchange money in a hotel
Jewelry and Gold shops
Most people agree that one of the best places to exchange money in Saigon is jewelry and gold stores because of their good exchange rates. All the procedures are fast and little or no extra fees are required. Many tourists also like the friendly staff and neat space there.
1. Vietinbank
• Address: 13 Phan Chu Trinh Street, Ben Thanh Ward, District 1, Ho Chi Minh City. It is situated opposite Ben Thanh Market West Entrance.
2. Vietcombank District 1
• Address: 231 – 233 Le Thanh Ton Street, Ben Thanh Ward, District 1, Ho Chi Minh City. The distance to Ben Thanh Market is under 100 meters.
• contact: +84 28 3822 8593
• Working hours: 8 am – 4 pm from Monday to Florida
Vietcombank
3. BIDV Bui Thi Xuan
• Address: 38 Pham Hong Thai Street, Ben Thanh Ward, District 1, Ho Chi Minh City. Ben Thanh Market is only a few hundred meters away.
• contact: +84 28 3824 6890
• Working hours: 7 am – 5 pm from Monday to Friday
4. Ha Tam Jewelry Shop (Ha Tam Money Changer)
• Address: 2 Nguyen An Ninh Street, Ben Thanh Ward, District 1, Ho Chi Minh City. It is situated opposite Ben Thanh Market's West Entrance.
• contact: +84 28 3823 7243
• Working hours: 8 am – 7 pm from Monday to Friday and 8 am – 4:30 pm on Saturday and Sunday.
5. Ben Thanh Money Changer
• Address: 30-36 Phan Boi Chau, Ben Thanh, District 1, Ho Chi Minh City. The distance from the west entrance of Ben Thanh Market to it is around 9 meters.
• contact: +84 28 3824 5950
6. Hoang Thu Jewelry (Hoàng Thứ Jewelry)
• Address: 178 Le Thanh Ton, Ben Thanh, District 1, Ho Chi Minh City. It is situated opposite Ben Thanh Market’s north entrance.
• contact: +84 90 854 47 44
• Working hours: 9 am – 7 pm every day
1. Hung Long Money Changer, Gold Key Watch & Jewelry
• Address: 86 Mac Thi Buoi Street, Ben Nghe Ward, District 1, Ho Chi Minh City. Near the Sheraton Saigon Hotel is where you can exchange currency.
• contact: +84 28 3829 7887
• Working hours: 7 am – 9 pm every day.
2. Therese Jewelry
• Address: 9 Nguyen Thiep, Ben Nghe, District 1, Ho Chi Minh City.
• contact: +84 28 3824 6011
• Working hours: 8h30am – 6h45pm Everest
Therese jewelry
3. Minh Thu
• Address: 12 Le Loi, Ben Nghe, District 1, Ho Chi Minh City.
• contact: +84 28 3823 8575
4. Vietcombank
• Address: 102 Nguyen Hue Street, Ben Nghe Ward, District 1, Ho Chi Minh City.
5. Vietcombank Tower
• Address: 5 Cong Truong Me Linh Street, Ben Nghe Ward, District 1, Ho Chi Minh City. On the Saigon River's bank, it is situated across from Bach Dang Garden.
• contact: +84 28 3829 7245
• Working hours: 7 am – 4:30 pm from Monday to Friday
1. Hung Long Money Exchange
• Address: 86 Mac Thi Buoi, Ben Nghe, District 1, Ho Chi Minh City. This store is close to the Sheraton Saigon and the Quynh Art Gallery.
• contact: +84 8 3829 7887
• Working hours: 7 am – 10 pm every day
2. Eximbank Money Exchange 59
• Address: 135 Dong Khoi, Ben Nghe, District 1, Ho Chi Minh City. This store is close to the Sheraton Saigon and the Quynh Art Gallery.
• contact: +84 8 3827 5363
• Working hours: 7 am – 10 pm every day
Eximbank, 135 Dong Khoi
3. Currency Exchange
• Address: 109, Ho Tung Mau, Ben Nghe, District 1, Ho Chi Minh City. This money exchange business is next to the Bitexco Financial Tower.
• contact: +84 8 3915356/57
• Working hours: 24 hours
1. DongA Bank
• Address: 187 Pham Ngu Lao, District 1, Ho Chi Minh City. This branch is situated between the hotels Kim Khoi and Xuan Spring.
• contact: +84 8 3920 7372
• Working hours: 8 am – 5 pm from Monday to Friday
2. Saigon Commercial Bank
• Address: 242 Cong Quynh, Pham Ngu Lao Ward, Dist. 1, Ho Chi Minh City. The 212 Club is next to this branch.
• contact: +84 8 3920 6501
• Working hours: 8 am – 5 pm from Monday to Florida
Saigon Commercial Bank
3. Vietcombank
• Address: 69 Bui Thi Xuan, Pham Ngu Lao, District 1, Ho Chi Minh City. This Address is close to Tu Du Hospital.
• contact: +84 8 3835 9323
• Working hours: 5:30 am – 4:30 pm from Monday to Friday
• You shouldn't exchange money before traveling to Vietnam. Coming to Vietnam to exchange currency is preferable to exchanging currency back home. When you exchange money in Vietnam, you will receive a significantly better rate. Wait until you get here, then. Numerous global currencies, including US dollars, pounds, euros, and Australian dollars, are routinely accepted for exchange.
• Vietnam offers currency exchange at airports, banks, money changers, and jewelers, but not all offices are equal. Always check favorable rates before changing money.
• Check online exchange rates before exchanging money. After receiving the money, check if the amount you received is enough as you calculated.
• You should exchange money with different denominations. Because if you pay 500,000 VND for a 20,000 VND item it will confuse the seller.
• It is not a smart idea to swap money on the black market because it is almost likely a scam.
• You won't be able to utilize any damaged notes that you receive from people again, so avoid accepting them.
• Examine the polymer material, concealed picture element, and embossing to make sure you are receiving genuine notes.
• Because the new polymer notes easily adhere to one another, be sure to count your money and avoid paying more than you need to.
The money exchange procedures in Vietnam are not as difficult as you think. Therefore, you can research the ways to exchange money as well as the best places to exchange money in Saigon through the article that Vietnam Escape Tours provided and choose the most optimal option.
