In most major known countries, like Vietnam financial services are abundant. It is very important to know your money matters before embarking on Vietnam travel for various reasons. Some of which include ease of access, for efficient carrying out of transactions, so as to avoid carrying cash in bulk for safety reasons and so on. It is also comforting to know you have international banks to cater to your financial needs. The good news is that here, travelers cheques can be cashed at banks. To make things even more comfortable, unlike in other countries, some well established hotels in Vietnam accept these cheques as payment.
Many shopkeepers are also happy to accept Us dollars though at times they may charge some small transaction fee. It is also important to keep some notes in dong notes and coins at hand for day to day expenditure. You however need to bear in mind that the dong cannot be converted outside Vietnam. Therefore you probably just need enough for your visit. Currency exchange spots are also common and automatic teller machines are available in most towns and cities. If you are however planning to visit rural areas during your Vietnam travel, you may not get to enjoy these privileges. It is also advisable to carry a sufficient amount of Vietnamese currency (the dong) to such places during visit.
The most common international banks are the ANZ and the HSBC and both maintain offices and ATM’s all over the country with banking hours from eight to five pm. They are also efficient as they are connected to plus ATM network. We can all agree that going to banks for currency exchange or credit card withdrawal is more time consuming than an ATM or private exchange. All ATMs provide instructions in both Vietnamese and English and are available twenty four hours a day.
It is also important to be warned against encashing and using of travelers cheques due to the fact that they may cause lots of inconveniences and if lost it is likely that you may be required to go to a major city to have them replaced. It is however important to carry a few during your visit probably for emergency purposes. They can be cashed in at leading banks and exchanges as well as at airlines and high-end hotels for a small commission.
Credit cards and debit cards on the other hand, may not be widely accepted in Vietnams smaller towns they are just as useful as dollars and dong in larger cities. It is good to know that Airlines, travel agents, upscale hotels, and restaurants as well as shops catering to tourists are glad to accept major credit cards like the American Express.
The process of changing money is still a tedious one as has been the norm especially in banks. It is however faster at private exchange spots although their rates are not as good sometimes. Ironically, the best rates are given by gold and jewelers shops but they offer no security against shortchanging or counterfeit bills.
I therefore believe you will be in a good position to make well informed decisions concerning money when you decide to embark on Vietnam travel.