Which brand of travellers cheques are best to take to
Vietnam ??
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I was there a year ago and used American Express. There
was something unusual about how one cashed them. At first,
the hotel took them but after a week or so, they stopped
cahsing them and referred me to the bank. Only the
National Bank of VietNam (I have forgotten the official
name)can cash traveller's checks so it was a taxi ride
there and a 2% surcharge on top of the taxi fee. A cheaper
and more convienent alternative is to use a debit charge
card. Many machines around Siagon will take Visa and/or
MasterCard (using a debit card rather than a credit card
avoids the Visa/Mastercard interest charge). The debit
card transaction still cost 1% at the ATM machine but it
was the best deal I could come up with.
Ken
Take American Express TC's in US$. No problem cashing them at the bank and also in a lot of hotels. A slightly better rate however you will get for cash US$ bills. They will change them in hotels as well (safe) or on the street (take care). Bring some of them as well. At the bank TC is better than cash.
Always take US$ no matter which country you are from. The US dollar gives you a m-u-c-h better rate than any other currency.
There are only a few ATM-machines in Vietnam and only in Saigon and Hanoi. So don't rely on them too much.
Have fun!
I spent 5 weeks in Vietnam last Oct - Nov and used Amex
travellers cheques. The Vietcombank was the best place I
found to cash cheques. Be wary of using ATMs because your
bank at home will probably charge you a bomb plus a
conversion fee to do withdraw money. The Vietcombank in Hoi
An charged no commission for Amex travellers cheques and
the usual commission rate was 1.5% on $100 USD in other
banks and agencies. The ANZ bank in both Hanoi and Saigon
were very expensive to cash cheques through. Remember when
cashing money ask for the 10000 dong notes or higher (if
they have them)so you're not carrying around bricks of
money in your bag. In Saigon there are many legitimate
money exchange places around Pham Ngu Lau St and in Hanoi
the main bank is very close to the Hoan Kiem Lake in the
old quarter. I personally would not change $ in Vietnam on
the blackmarket. But if you end up in Laos do not change $
in a bank, take USD or baht in cash and change it in the
market or to be safer in a jewellry shop. Make sure you get
a few quotes first and ask other travellers the going rate.
You can use any type of TCs like Amex, Thomas Cook, Visa etc
but, as you see in the other replys, only the major banks
and big hotels will accept them. My tip is to bring USD
currency as you can change it at any bank/hotel/jewellery
shop without a drama. The exchange rate is pretty tighly
contolled these days. Currently around 13900 VND = $1USD.
You may get 14000 on the street but not much more. If
you're worried about security then bring a credit card.
There are ATMs in Hanoi and HCMC and many hotels and banks
will accept them for cash advances.
Used the ATM in Saigon in Feb this year and Bank of America
only stuck me for 3 bucks per transaction.
Was in Vietnam in December and January last. There was ONE
ATM (an ANZ Bank machine) in the whole of Hanoi. I believe
two in Saigon - tho' I only saw one with my own eyes.
Vietcom Bank changes TC's readily at just about any branch.
Many gold sellers will also exchange at a good rate. USD
are easiest to change for a fair rate. Credit cards are not
readily accepted. Vietnam's not a difficult country to
visit - but get RELIABLE information from people who've
actually been there. There seem to be a fairly large number
of bs artists utilising this and other similar bbs.
Paul