March 30, 2011
Learn the Best Ways to Originate a Money Transfer to Vietnam
Before you go on a trip in Vietnam, you should get the facts about legal tender in the region. Specifically, you need to know what form of payment is most often accepted so that you are never stuck without money to methods] to pay in this beautiful nation before you plan to make a money transfer to Vietnam.
The most widely accepted type of money in this nation is the Vietnamese dong, but you will find that U.S. dollars are taken in lots of areas, also. If you are in a tourist area, for example, you can likely use the U.S. dollar quite often when shopping or staying at hotels, but business districts usually prefer the Vietnamese dong.
You should be sure to carry some dong, or at least some of both legal tender, especially as you travel further from the major cities like Ho Chi Minh City or Hanoi. Don’t forget to barter a bit when you shop, as you can save a decent amount of cash this way, and it is a nice change from the fixed pricing at stores in the U.S.
There are many more ATMs than there used to be in this area, which is why using a prepaid debit card to make a money transfer to Vietnam could be a smart idea. You can withdraw cash from ATMs before you go out shopping, as you need cash when you bargain. You might also decide to use the prepaid debit card as a regular debit card, but be aware that most stores add a 3% commission fee to credit or debit card transactions. You can use MasterCard and Visa in many cities, though some do also accept American Express with an extra 4% fee.
Some people are comfortable with traveler’s checks, and they can be exchanged in Vietnam in certain places. However, it is often hard to find banks that will exchange them for cash so do not depend on them solely. Expect to be charged up to 2% commission to change them into cash. However, be aware that Vietcom bank exchanges Amex checks for free, and others for a .5% fee.
It is best to know the most acceptable forms of payment before you start a money transfer to Vietnam in any way. This will ensure that you have enough money to get by while in this nation. Not every retailer takes cards or U.S. dollars, but then some prefer such forms of payment to the Vietnamese dong, which means having all of these forms of funds can be a good idea.
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