Where to exchange money in Hanoi is an essential travel tip when traveling to the city.
Hanoi, the capital of Vietnam is one of the popular cities to live in the country especially for expats. As for travellers, it is one of the famous tourist destinations.
A common question for anyone traveling to the city is, where to exchange money in Hanoi?
Here are some of the best places that can exchange most currencies with great rates too!
Gold and Jewelry shops (best rates):
The best place to exchange money in Hanoi are the gold and jewelry shops. Aside from selling gold and jewelry, they also provide money exchange services in most of Vietnam.
Based on the spot rate globally through XE.com or OANDA.com, these shops offer the best currency exchange rates.
These shops can be found in the Old Quarter, mainly at the Hang Bac Street or Ha Trung Street.
One advantage of having your money exchanged through these shops is that you can skip the hassle of paperworks such as filling out forms.
These shops also have the best rates for USD and Euro money. They also accept major currencies like JPY, CNY, KRW, THB, MYR, AUD, GBP, SGD, HKD, CAD.
Power tip: Try these reliable shops when in Hanoi – Quoc Trinh Gold Shop, Kim Linh Gold Shop, Manh Hung Gold Shop.
Exchange your money at the Airport:
Recently, money exchange shops are more visible at Vietnam’s international airports. These shops are usually found at the arrival hall of airports and offer competitive rates without commissions.
The rates here are 1% higher than that of the gold/jewelry shops in the Old Quarter. However, compared to the rates at ATMs, this is still significantly better.
It is the most convenient means to exchange money in Hanoi. Because as soon as you arrive in the city, it is then available.
These shops are open from 7AM to 7PM. Otherwise if you arrive beyond these times, you still have the ATM or the shops at the Old Quarter.
Banks:
Like typical banks, the banks found in Hanoi can exchange money in Vietnam Dong. In major cities around the country, these banks are everywhere.
Some advantages of exchanging your money in banks are that most of the employees can speak English. And since it’s a bank, you can guarantee that exchanging large sums of money is safe and secured.
Banks also offer good rates for exchanging money.
However, the downside is that most transactions are over the counter. This entails waiting for the banks to open which usually starts at 9AM to 5PM with no later time. Moreso, banks are closed on Sundays.
Note that banks do not accept all types of currency, or they accept minimal options. But nonetheless, you can guarantee they accept Dollars and Euros too!
Most banking establishments can be found at the Hoan Kiem Lake and at the Dong Kinh Nghia Thuc Square. The most popular ones you’d find in the Old Quarter are Vietcombank, Vietinbank and Techcombank.
Note that for a smoother transaction, prepare any identification cards prior to entering the bank.
Hotels:
Quite possibly the most practical answer to the question – where to exchange money in Hanoi is the hotel.
Generally, hotels offer money exchange service to alleviate their customer’s stay with them. And albeit it doesn’t charge commission, the amount of money you can exchange is limited.
If you have encountered a hiccup during your travel and needed a fast and easy way to Vietnam’s local currency then the best option is through your hotel.
However, bear in mind that not all accommodations in Hanoi offer money exchange service.
Especially not the budget hotels and inns.
