2. Banks
The first thing to know about money in Vietnam is that nothing beats a greenback: the US dollar, as in many developing countries, now reigns supreme. Such is the irony of history.
DON’T let anyone force you to pay in dollars, however: the law states that you always have the right to pay in dong (Vietnamese currency). You generally get a better deal if you don’t pay in dollars, especially for smaller purchases.
DO take your passport with you! This applies to all dealings with officialdom. You won’t get very far without it.
DON’T count on cashing travelers’’ cheques anywhere outside the larger banks of Hochiminh City and Hanoi.
DO avoid unnecessary hassle (and we mean hassle) by having the travelers’ cheque made out in US dollars when you buy them.
The good news is that cash points (ATMs) dispensing Vietnamese dong, until recently a rare breed, can now be found in smaller towns. Credit cards are also taking off, with more and more businesses, hotels and restaurants accepting them. However, some will force you to pay the card surcharge yourself: an illegal practice, but there you go.
If you’ve brought USD with you, DON’T change them on the street: even if you know the local currency well and are on the alert for any scam, you may still get conned and you won’t get a good rate.
DO change them at jeweler’s shop around and you will get a better rate than at the state bank
DON’T travel to the remoter regions without cash (plenty of dong, plus may be some smaller bills to ease the strain on your wallet).