Le Cong
Last update on September 14th, 2023
Last year, I hosted a French Quarter walking tour for a guest from the US. He was very stressed when he told me that he couldn’t withdraw money from the ATM. Once he found an ATM, the fee was very high. He decided to go to a local bank to exchange dollars for VND, but the rate was very low and there was a lot of paperwork.
To help others avoid this situation, I am writing this article. Hopefully, it will help you prepare better before coming to Vietnam.
The official currency in Vietnam is Dong (VND). Banknotes are issued in 1,000, 2,000, 5,000, 10,000, 20,000, 50,000, 100,000, 200,000, and 500,000 dong. 20,000 and 500,000 bills look quite similar, so you must be careful when you exchange or use them.
You can exchange money at the airport, where currency exchange services are available. However, the exchange rates are as high as these in the city.
Money exchange shops and jewelry stores may be the best options to get the most favorable rates. You can quickly look for these shops in the Hanoi Old Quarter. Another more secure option for you is to exchange money at Bank branches or ATMs.
Almost all banks in Vietnam also have a foreign currency exchange service. But it takes a longer time to get a transaction because you need to finish some information and present the required documents.
The major currencies widely accepted at Hanoi’s forex shops include USD, EUR, GBP, AUD, CAD, SGD, JPY, and HKD.
Here are the best options to exchange money in Hanoi:
Airport and Banks – Money Changers
Noi Bai International Airport is a place you should consider first because of its convenience. Still, the rates in these airports are lower. Therefore, the airport is not favorable if you don’t need to have some Vietnam Dong immediately for taxi fares.
However, tourists are recommended to go to bank branches since their exchange rates are pretty competitive. On the other hand, you have to spend quite some time here waiting and filling out the required forms to ensure security. You should use Vietinbank, Vietcombank, Techcombank, VIB, HSBC, and BIDV. Commonly accepted currencies are JPY, USD, HKD, EUR, etc. In addition, you can find an ATM located on the streets of Hanoi, helping you transfer money more efficiently.
Tips:
- Remember to bring your identification documents such as ID or passport when coming to the banks.
- Each bank has its opening hours and rates; the business is open from 8 AM to 5 PM, with a lunch break, or to ensure tourists had better contact the bank first to look for needed information and compare the rates among banks.
- I usually check the exchange rate on Google before comparing it with the rate offered at the shop. For instance, in September 2023, I found that the Google rate was 24,000 VND for $1, and the shop gave me a great rate of 23,000 VND for $1.
Where to exchange money in Hanoi?
The Old Quarter is the leading tourist destination in Hanoi, with Hoan Kiem Lake as the centerpiece. The atmosphere of the place is super vibrant, with many kinds of activities day and night. Any kind of services that one needs in Hanoi can be found here. So it is not hard to buy local currency in the area. Join our Hanoi Old Quarter Tour to experience the best of this area.
Gold dealers and tour operators mainly offer forex service in the Old Quarter. As a result, their rates are often better than banks’ rates.
You can find these gold shops along Ha Trung and Hang Bac streets. Most of them only exchange US dollars and are open from Mondays to Saturdays.
RECOMMENDED MONEY CHANGERS – Money Changers on Hang Bac Street and Ha Trung Street in the Old Quarter
1) Quoc Trinh Gold Shop
This shop is just 2 minutes on foot from the Vietnam National Tuong Theater
Address: 27 Ha Trung, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3826 8856
Opening hours: Sunday to Friday 08:00 – 22:00
2) Kim Linh Jewelry
This store is located beside Queen Hotel Hanoi, which is a 2-minute walk from Hanoi Ancient House
Address: 67 Hang Bac, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3825 3649
Opening hours: Monday to Saturday 8:30 – 18:00
3) Tu Binh Jewelry
It is located across Queen Hotel Hanoi
Address: 54 Hang Bac, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3824 9799
Opening hours: Monday to Saturday 08:30 – 17:00
4) Hanoi Money Exchange
This shop is just 5 minutes on foot from Hoan Kiem Lake
Address: 19B Hang Be, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3990 1733
Opening hours: Monday to Saturday 09:00 – 18:00*
5) Phu Van Jewelry
It is located across Vietnam Guesthouse
Address: 25 Luong Ngoc Quyen, Hang Buom, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3926 1764
Opening hours: Monday to Saturday 09:00 – 18:00*
6) Manh Hung Jewelry
Its location is just a 3-minute walk from Vietnam National Tuong Theater.
Address: 51 Ha Trung, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3938 2251
Opening hours: Daily 08:00 – 19:00
*Opening hours may vary. Call first before visiting.
Our Tour Guide can assist you during your Hanoi Vegetarian Food Tour – one of the best options for vegan food when visiting Hanoi.
Bank Branches in Hanoi Old Quarter
Most bank branches in the Old Quarter in Hanoi are clustered around Hoan Kiem Lake and near Dong Kinh Nghia Thuc Square. Banks are the option to go for if you are looking for a more secure transaction and exchange rates are not your highest priority. Among many banks available in the Old Quarter, Vietcombank, Vietinbank, and Techcombank are the most popular. A bank account is not required for a transaction, but an identification document must be.
RECOMMENDED BANK BRANCHES:
1) Vietinbank on Ly Thuong Kiet
This branch is just a 2-minute walk away from the Vietnamese Women’s Museum
Address: 25 Ly Thuong Kiet, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3826 7112
Opening hours: Monday to Friday 08:00 – 17:00
2) Vietcombank on Cau Go
This branch is located on the north side of Dong Kinh Nghia Thuc Square
Address: 110 Cau Go, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3926 1236
Opening hours: Monday to Friday 08:00 – 17:00
3) Techcombank on Bat Dan
This branch is located near the Hanoi Friendly Hotel
Address: 34 Bat Dan, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3923 2932
Opening hours: Monday to Friday 08:00 – 17:00, Saturday 08:00 – 12:00
4) Vietnam International Bank (VIB) on Dinh Tien Hoang
This branch is located at the north side of Hoan Kiem Lake near Dong Kinh Nghia Thuc Square
Address: 49 Dinh Tien Hoang, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 3938 2180
Opening hours: Monday to Friday 08:00 – 17:00*
5) SHB on Hang Hanh
This branch is located near Dong Kinh Nghia Thuc Square and Golden Lakeside Hotel
Address: 8 Hang Hanh, Hoan Kiem District, Ha Noi, Vietnam
Phone: +84 4 6270 0420
Opening hours: Monday to Friday 08:00 – 17:00*
*Opening hours may vary. Call first before visiting.
Reliable money changers in other areas of Hanoi
There are also reputable gold dealer shops outside the Old Quarter that provide professional currency exchange services. Vang Bac Hoang Tin gold shop – located near Kim Ma bus station, and Bao Tin Minh Chau – near Bay Mau Lake are the most visited places. Both shops are open daily.
RECOMMENDED MONEY CHANGERS:
1) Vang Hoang Tin Gold Shop
This shop is just a 2-minute walk from Kim Ma bus station
Address: 124 Nguyen Thai Hoc, Ba Dinh District, Ha Noi, Vietnam
Phone: +84 4 3733 7425
Opening hours: Mon to Sat 08:00 – 18:00, Sat & Sun 08:30 – 18:00
2) Bao Tin Minh Chau
Its location is a 3-minute walk away from Bay Mau lake
Address: 29 Tran Nhan Tong, Hai Ba Trung District, Ha Noi, Vietnam
Phone: +84 4 3822 6999
Opening hours: Daily 08:00 – 20:00
3) Kim Chung Gold Shop
This shop is located near Thai Ha Church and Dong Da General Hospital
Address: 24 Tay Son, Dong Da District, Ha Noi, Vietnam
Phone: +84 97 535 25 86
Opening hours: Monday to Saturday 09:00 – 18:00*
4) Bao Minh Jewelry
It is situated beside the Polonez Hotel
Address: 4B Tran Nhan Tong, Hai Ba Trung District, Ha Noi, Vietnam
Phone: +84 4 3944 6934
Opening hours: Monday to Saturday 09:00 – 18:00*
*Opening hours may vary. Call first before visiting.
Travel is not only about creating fun memories and taking a break from work, but it can also be an opportunity to learn about the history and culture of the locals. Vietnam has a long history, but most people usually associate it with the famous war. Join us in the Hanoi not-to-go-alone areas & stories from Vietnam War to explore the less-known places of the city and learn about the war from the perspectives of young Vietnamese locals. We are sure that you will gain a better understanding of Vietnam by the end of your journey.
