Converting USD to VND: A Quick Guide for Travelers 2024
Are you having a trouble when converting USD to VND in Vietnam ? The US dollar currency unit is widely used in Vietnam. The decisions of the European currency also affect the economy and spending during travel, not only in Vietnam. In this post, Prime Travel will clarify the regulations when converting US dollars ( USD ) to Vietnamese dong ( VND ) and advice for tourists when visiting and traveling in Vietnam.
I. Notes on converting USD when traveling to Southeast Asia
When traveling abroad, converting currency is an essential thing for every traveler on every trip. And especially, when traveling to Southeast Asian countries such as: Vietnam, Laos, Cambodia, Myanmar, Philippines, you need to grasp the following information and notes when making payment transactions or converting currency in these countries to avoid misunderstandings or troubles during the travel process:
- Old US dollars will not be accepted for payment in countries such as: Cambodia, Myanmar, Indonesia, Vietnam. Therefore, make sure that when you travel to these countries, remember to convert and prepare the new denominations of US dollars, do not use the old dollars.
Standards for converting US dollars:
- Your dollar bills must not be crumpled
- Must not be stained with ink or any dirt, scratches.
- Avoid folding the bills (Because in some countries, they do not accept folded dollars)
- Dollar bills must be brand new.
The issuance of USD only exists in the US, so other countries do not have the right to issue this currency. If we take the bills that have signs of being crumpled, old or stained with ink, it will be very difficult for countries to exchange or reserve in banks and even lead to unnecessary losses.
II. Notes on converting USD to VND in Vietnam
In Vietnam, paying with US dollars in this country is not popular, because most restaurants, shops accept payment in Vietnamese currency. Therefore, you should convert dollars to Vietnamese currency before coming here to save time and avoid inconvenience when making payment transactions here.
To convert dollars to Vietnamese currency in Vietnam, we advise you to convert right at the airport or restaurants in Vietnam because these are the legal places recognized by the Vietnamese government for receiving and converting foreign currency. And especially note that you should avoid exchanging money at grocery stores or stores with the words “Currency exchange service for foreigners” because almost all of these stores, places operate illegally, illegally, without the approval of the government.
Based on the provisions of Vietnamese law, if tourists or service providers who exchange foreign currency have acts of violating the law, they will be punished as follows:
- The act of buying and selling foreign currency under 1,000 USD without a license will be warned.
- The amount of foreign currency illegally bought and sold from 1,000-10,000 USD will be fined 10-20 million dong.
- In case of illegal buying and selling of foreign currency from 10,000 to less than 100,000 USD, the fine will increase to 20 – 30 million dong.
- Transactions of 100,000 USD or more will be fined up to 100 million dong. As for the act of illegal import and export of foreign currency, it will be fined up to 250 million dong.
Therefore, to avoid troubles and unnecessary risks, you should exchange at reputable units such as: Banks in Vietnam or at the airport to ensure compliance with the regulations of Vietnamese law on dollar exchange.
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