How to get Vietnam currency in India

But why use cash in Vietnam and not credit or debit cards?

Vietnam is still predominantly a cash-first country. Using only credit and debit cards will limit the places you can visit, like street food places or even getting a Grab bike. Hence, you always want to keep Vietnamese Dong, the local currency, with your credit and debit cards.

Why is buying VND so expensive in India?

Vietnamese currency VND is a exotic currency, meaning the currency does not have sufficient demand in the global market. Less buyer and sellers of the currency makes the buying and selling cost very high.

Can I buy USD currency notes from BookMyForex whenever I want?

No. You can only buy USD currency notes from an authorized forex dealer like BookMyForex when you have a valid visa, like Vietnam's e-visa and air tickets for the travel destination.

Are online forex brokers like BookMyForex always giving better rates than brick-and-mortar ones?

I asked a local forex broker in Mumbai for USD currency notes. It turned out that both the local forex dealer and BookMyForex are offering USD currency notes at the same rate. So please don't go with the perception that online brokers offer a better rate. First, compare whose offering better rates.

What if I didn't spend all the USD I purchased for my Vietnam travel?

As an Indian citizen, you can keep $2,000 physical currency notes. Since USD is a globally accepted currency, you can use it for your next international travel to any other country.

USDINR currency converter with forex market rate:

So, if you have zero forex markup debit card, you don't need to carry USD currency notes?

No, I would recommend keeping USD currency notes as an alternate solution. That's cause there have been events where banks like Niyo and Paytm disabled international transactions due to regulatory issues. Physical USD currency notes keep you immune from such situations.

How to find zero forex markup ATMs for cash withdrawal in Vietnam?

You can search for Ocean Bank or MB Bank. Both ATMs accept international Visa and MasterCard debit cards and are zero forex markup ATMs.

Note: These Google map links will give you the right results only when you are in Vietnam.

Which debit cards are accepted in Vietnam ATMs for cash withdrawal?

Visa and MasterCard are the widely accepted cards in Vietnam ATMs. You will have to enable ATM withdrawals and international usage. Please do not carry RuPay or Discover for cash withdrawals in Vietnam. No ATMs are likely to accept them.

Will using any ATM for cash withdrawal cost me zero charges if I use a zero forex markup debit card?

No, Using any random ATM can cause you forex charges up to 3%. Hence, using a zero forex charge debit card isn't enough. It's essential that you also use that card in a zero-forex ATM.

Why prefer a zero forex markup debit card over a Forex travel card for cash withdrawal from a Vietnam ATM?

Forex travel cards provide the same benefit as zero forex markup debit cards, which are zero charges for cash withdrawals, but they come with the hassle of reloading USD on them. Zero forex markup debit cards come with dynamic conversion (INR -> USD -> VND), so there is no need to worry about loading USD every time.

Also, no Forex Travel cards, as of now, support loading Vietnam currency VND. Hence, the hassle of currency conversion and forex conversion cost is still there (USD -> VND).

Why is conversion rates for VND via Vietnam ATM's so great?

Payment networks like Visa and MasterCard use the forex market (which are very liquid - many buyers and sellers of currency) to get great conversion rates unlike local forex dealer. Also, behind the scene it's simulating the same smart conversion technique (INR -> USD -> VND).

Can you bring back the Vietnam currency to India?

Yes. You can bring back ₫15,000,000 VND of physical currency notes to India without declaring to the Vietnamese customs.

VNDINR currency converter with forex market rate:

What to do with the unspent Vietnam currency?

If you plan to travel to Vietnam again, you can keep it for your next visit. But if you don't, you can sell it in exchange for Indian Rupee to an authorized Forex dealer, like BookMyForex.