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🏦 Banking · Money

Withdrawing cash with a travel card, getting small notes, opening an account, QR payments, currency exchange and transfers — how money works in Vietnam

Start with a travel card, open an account once you settle in

• In HCMC, bank transfers (chuyển khoản) and QR payments are everywhere. Even street stalls and market vendors put up a QR code and get paid straight into their banking app.
• Until you have a local account, get by with cash + your home-country card. For cash, the easiest and cheapest option is withdrawing VND from Vietnamese ATMs with a low-fee travel debit card (e.g. Wise, Revolut — or your home bank's travel card).
• Once your residence visa (or temporary residence card) comes through, most people open a Vietnamese bank account right away. If you're staying long-term, receiving transfers from home into a local account ends up cheaper and easier. Think of the travel card as for your first few weeks.

Withdrawing cash at an ATM with a travel card

1. Before you leave home —
   • If your card app lets you hold Vietnamese dong, top up VND in advance. Depending on the app, if you have no VND balance it converts automatically from your home currency or USD.
   • Make sure overseas payments and ATM withdrawals are enabled.
   • Make sure you know your 4- or 6-digit card PIN. Most Vietnamese ATMs take 6 digits, but a 4-digit PIN can be entered as is.
2. Choosing an ATM —
   • Pick an ATM showing the brand on the back of your card (VISA or Mastercard).
   • ATMs inside bank branches, malls or apartment lobbies are safest. Also check the card slot for any odd attachments.
   • Search Google Maps for "VPBank ATM" to find one nearby (see 'ATM fees' below for fees).
3. Insert your card and choose a language —

   After you insert the card, a language menu appears. Just tap English. If the screen is in Vietnamese, see 'ATM screen words' below.

4. Enter PIN · Choose withdrawal —
   • Nhập mã PIN (Enter PIN) → choose Rút tiền (Withdrawal).
   • If asked for an account type, a travel card is a debit card, so choose Tài khoản thanh toán / Checking (or Default).
   • Choosing Credit may fail or be processed as a cash advance.
5. Choosing the amount —
   • Tap an amount button on screen (500.000 / 1.000.000 / 2.000.000 …) or enter your own with Số tiền khác (Other amount).
   • Vietnam uses periods as thousands separators. 1.000.000 = one million VND.
   • Amounts over the per-transaction limit are declined, so split your withdrawal. If you want small notes, see 'Getting small notes' below.
6. Check the fee and conversion (most important) —
   • If a Phí (Fee) amount appears, check it and choose continue (Có / Yes) or cancel (Hủy / Cancel).
   • If a screen offers to convert into your home currency (DCC), always choose VND / Without conversion / no conversion. Choosing your home currency gives you a worse rate.
7. Take your cash and card —
   • Choose a receipt (In biên lai / Print receipt) if you want one.
   • Some machines give the cash first and the card after; others do the reverse. Make sure you have both your cash and your card before walking away. If you leave the card too long, the machine swallows it again.
   • Put the cash in your bag right there inside the ATM booth.
8. Check in the app —
   • Check in your card app that the withdrawal amount and fees are correct.
   • If no cash came out but the money left your account, screenshot the receipt, time and ATM location and report it to your card issuer's customer service. It's usually refunded automatically within a few days.

ATM fees · Limits — where is it cheapest to withdraw?

Fees come from two places.

1. Your card issuer's fee — depends on your card, so check its terms. Many travel debit cards waive their own ATM fee up to a monthly limit and charge a percentage above it.
2. The Vietnamese ATM bank's fee — varies by bank. Banks that charge usually take about 20k–55k VND per withdrawal on foreign cards.

Which bank's ATM? (based on 2026 traveler guides)

• VPBank (purple and green sign) — no fee on foreign cards, up to 10 million VND per withdrawal. The one most often recommended.
• ACB — some guides say free (3 million VND per withdrawal).
• TPBank — used to be famous for being free, but many recent posts say it has charged about 3.3% since 2025.

Limits

• Many ATMs only allow 2–3 million VND per withdrawal. Find an ATM with a high limit like VPBank, or split into several withdrawals.
• Splitting into several withdrawals on the same day means the Vietnamese ATM fee each time. At ATMs that charge a fee, one big withdrawal is better.
• Your card issuer also has per-withdrawal, daily and monthly limits. Check in your card app.

Bank fee policies change often, and the above is compiled from traveler guides, not official bank announcements. Check the fee (Phí) shown on the ATM screen before continuing.

ATM safety · If the machine keeps your card

• Avoid standalone street-side ATMs late at night. Motorbike snatch thefts happen.
• Keep one travel card + one backup card stored separately. If an ATM swallows a card or you lose one, you can still pay right away.
• If an ATM swallows your card (nuốt thẻ), call the bank hotline shown on the ATM right there. Usually you get it back at that bank's branch by showing your passport.

ATM screen words

Getting small notes (200k · 100k VND)

1. Why do you need them? —

   Most ATMs give 500k VND (500.000) notes. But street stalls, markets, xe ôm drivers and small eateries often say they have no change (không có tiền thối) for a 500k note. Always carry some 200k and 100k notes and smaller.

2. ATM: enter an amount not divisible by 500k —
   • When entering your own amount with Số tiền khác (Other amount), enter something not divisible by 500k, like 1.900.000 or 2.300.000.
   • The machine will then mix in 200k and 100k notes. Example: 1.900.000 → 500k ×3 + 200k ×2.
   • This only works if that ATM has small notes. If it says the amount isn't available, change the amount or use another ATM.
3. ATM: denomination selection screen —

   Some ATMs show a screen to choose the denomination (Mệnh giá / Denomination) after you enter the amount. Choose 100.000 or 200.000. Not every bank or machine has this feature.

4. Changing money at a bank counter —
   • Say "Đổi giúp tôi ra tiền lẻ" (Please change this into small notes) at a bank counter and they'll break a 500k note for you.
   • Usually there's no fee, but a bank where you don't have an account may refuse.
   • Weekday mornings are best, when it's quiet. Before Tết (Lunar New Year) it gets very busy with people exchanging for crisp new notes for lucky money.
5. Breaking notes at convenience stores and supermarkets —

   The easiest way. Pay with a 500k note when buying water or snacks at convenience stores and supermarkets like Circle K, GS25, FamilyMart, WinMart and Bách Hóa Xanh. Their tills always have change. Mall food courts and big restaurants are also good places to pay with one.

6. Ask for small notes when exchanging —

   When exchanging dollars or other foreign cash at a bank or exchange counter, say up front "Cho tôi một ít tờ 100 nghìn và 200 nghìn" (Please give me some 100k and 200k notes too). If you get everything in 500k notes, breaking them later is a hassle.

7. Everyday habits —
   • Keep small notes separate, and at big shops spend your 500k notes first.
   • Paying for Grab and delivery by card in the app means you need less cash.
   • 20,000 VND (blue) and 500,000 VND (teal), and 10,000 and 200,000 VND (brownish) look alike and are easy to mix up. When handing over or receiving money, always count the zeros.
   • Vietnamese say amounts in short form. "năm trăm" (500) means 500k VND, "hai trăm" (200) means 200k VND, "một trăm" (100) means 100k VND.

Phrases for getting change

Opening a Vietnamese bank account

1. Choosing a bank —
   • If a good app and easy payments matter most, local banks like Vietcombank and Techcombank are popular. Many banks let you switch the app language to English.
   • Some foreign banks also have branches in Vietnam.
   • Requirements for foreigners vary by bank and branch.
2. Preparing documents —
   • Basics: original passport + a valid visa (or temporary residence card).
   • Some banks also ask for a work permit or employment contract and proof of your address in Vietnam (lease, temporary residence registration confirmation, etc.).
   • Applications on a tourist visa are often refused.
3. Branch visit · Biometric verification —

   Since January 1, 2025, biometric verification (face check) has been mandatory for personal accounts. Foreigners verify their identity with a passport, so you'll usually need to go to a branch in person for face verification.

4. Install the app · Get your card —
   • Once the account is open, install the bank's app and set up OTP (authentication).
   • You'll get the debit card the same day or a few days later.
   • Before leaving, check with the staff that transfers and QR payments work in the app.
5. Update your details when your visa is renewed —

   When your visa or passport changes, you need to register the new details with the bank. If you don't, transactions may be blocked or the account frozen.

Paying by QR · E-wallets

• Most shop QR codes are VietQR. Scan with 'Quét mã' (Scan QR) in a Vietnamese banking app and the recipient's name and account fill in automatically.
• Before sending, always check the recipient's name (the shop owner's name) and the amount, and after sending, show the success screen.
• There's a scam where another QR sticker is stuck over the shop's QR code. If the name is completely different from the shop, ask the staff.
• You can also pay electricity and phone bills with e-wallets like MoMo · ZaloPay. However, identity verification is mainly based on Vietnamese ID cards, so check in the app whether you can sign up with a foreign passport (to be confirmed).
• Never give your OTP code or banking app password to anyone. Bank staff never ask for an OTP by phone.

Currency exchange · Transfers to and from home

• It's safest to exchange money at banks or licensed exchange counters. Exchanging at gold shops is common, but foreign currency trading at unlicensed places can be subject to enforcement.
• Airport exchange rates tend to be poor, so change only what you need right away.
• To send money from home to Vietnam, people usually use their home bank's international transfer or a money-transfer app. Compare fees and exchange rates, and enter the receiving account's name in English, account number and SWIFT code exactly.
• Sending money from Vietnam back home often requires foreigners to provide documents such as proof of employment income. Ask the bank about this when you open your account.

Phrases at the bank

Sources

• ExpatDen — Open a bank account in Vietnam (biometric verification mandatory from Jan 1, 2025)
• InCorp Vietnam — Guide to opening a bank account
• Expat.com — Opening a bank account in Vietnam
• VNBA — Woori TP.HCM khai trương PGD Thảo Điền
• KED Global — Shinhan Financial units under one roof in Vietnam (2024)
• SBV — Decision on Shinhan Bank Vietnam's head office address change
• ATM Fee Saver — ATM fees and limits in Vietnam
• Vietnam With Me — Best ATMs in Vietnam: VPBank Free, TPBank Charges 3.3% (2026.8)
• Base Danang — ATM Fees in Vietnam 2026
• Day Trips Vietnam — Vietnam ATM Fees 2026
• Card Gorilla — Comparison of travel cards' currency exchange services 2026 (Korean)
• Byline Network — Guide to 6 travel cards for overseas trips (Jan 2025, Korean)
• MoMo — Biometric verification guide (Thông tư 40)

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