Cash, Cards, and Currency in Vietnam: real experience from chats
Short answer
Exchange USD, specifically 100-dollar bills issued after 2009, at jewelry stores for the best rates. For cash withdrawals using Mir cards, use Vietnam-Russia Joint Venture Bank (VRB) ATMs, while UnionPay cards are more widely accepted for payments in stores.
From real experience
When traveling to Vietnam, it is generally more advantageous to exchange USD rather than RUB.
While some informal exchanges for RUB might exist, they often come with unfavorable rates or risks. USD can be exchanged for Vietnamese Dong (VND) in various locations, including exchange offices, jewelry stores, and sometimes hotels. Jewelry stores are often reported to offer the best rates. Euros are also generally exchangeable in Vietnam without significant issues. Exchange rates at Cam Ranh Airport are typically less competitive compared to those in the city. It's advisable to carry a mix of USD and VND upon arrival and to seek out reputable exchange points for better rates.
✓ 2 reports from chats
To withdraw cash (Vietnamese Dong) using Russian 'Mir' cards, travelers must use ATMs belonging to VRB (Vietnam-Russia Joint Venture Bank).
VRB is the only bank in Vietnam that supports the Mir payment system. Withdrawals with Mir cards from major Russian banks (such as VTB, Alfa, or T-Bank) are processed at relatively favorable exchange rates, often superior to peer-to-peer exchange services.
✓ 1 report from chats
When making purchases via QR code in Vietnam, the effectiveness of payment cards like Alfa and Tinkoff can vary.
It's advisable to check with local vendors or a financial expert about which cards are most widely accepted for QR code payments. Carrying a UnionPay card or a card from a bank like RSB might offer broader acceptance, and for rubles, an exchange expert can be consulted.
✓ 1 report from chats
UnionPay cards, particularly those denominated in Rubles, are widely accepted in Vietnamese commercial centers and supermarkets, offering favorable exchange rates.
It is advisable to use cards for payments rather than withdrawing cash from ATMs due to high fees and poor exchange rates. While 'Mir' cards may not be functional, UnionPay cards have shown compatibility.
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When bringing US Dollars to Vietnam for exchange, prioritize new series ($100 'blue' bills issued from 2009 onwards).
Bills older than 2009 (especially pre-2006 'white' bills) are either rejected or exchanged at a lower rate. Smaller denominations ($50, $20, etc.) also yield worse exchange rates.
✓ 1 report from chats
When withdrawing cash from ATMs in Vietnam using a MIR card, different banks offer varying exchange rates.
It is recommended to compare rates from different banks, such as VRB, to find the most favorable option. Rates can fluctuate, so checking current rates before withdrawal is advisable.
✓ 1 report from chats
Clarify payment options for accommodation bookings in Vietnam.
Specifically, state that rubles cannot be used for payment on Booking.com, but Trip.com allows such transactions. Advise on potential currency exchange issues if paying on arrival.
✓ 1 report from chats
In Vietnamese tourist areas, currency exchanges and hotels frequently refuse to exchange Euro banknotes of denominations smaller than 100 EUR, or they offer unfavorable rates.
Conversely, US Dollars (USD) are widely accepted and exchanged even in small denominations.
✓ 1 report from chats
Inquire if the ImbaWallet card, which offers a physical card option, can be used to successfully pay for a Vietnamese visa, as virtual cards have reportedly failed.