Having access to money while traveling really helps your comfort level. Here are some suggestions on how to handle your cash:
• ATMs are plentiful and banks will give cash advances on credit cards, though the fees can be high (3-5%). We suggest simply bringing cash from home to exchange for Vietnamese Dong (VND) as you require it. Direct withdrawals from a an account back home can be made at all ATMs at a reasonable rate and ATM fee of around $2. The best exchange rate is often offered at gold/jewelry shops or other small family shops everywhere and many of them post their rates out front. Sure, that sounds really “black market” but it’s pretty normal and Dan is happy to accompany you and enable your experience; they’ll even lend you their calculator so you can double check their math!
• Show up on the first day with enough cash to not have to depend on visiting an ATM right away, a few 5s 10s and 20s should do. USD is fine to use in Vietnam (and is widely accepted), although if you use USD for transactions you'll get a slightly less-than-favorable exchange rate and any change you'll receive will be in Vietnamese Dong. Again, make sure you have a few smaller notes for such instances ($5, $10, $20).
• The condition of your currency matters: Bring your larger amounts of USD in large-bill form and in mint/crisp condition; it's nearly impossible to exchange notes with markings/rips/wear.
• Inform your bank that you'll be traveling in Vietnam (and your flight layover location) to reduce the chance of your transactions being denied.
• Keep a second bank card (debit or credit) in your main luggage, separate from your small day-bag. That way you're still in the chips if one bag gets separated from you.
• Photograph/scan the front and back of all your cards and travel docs, then email these vital documents to yourself in the event you need to access that info from any computer to communicate with your credit card company if you have a card lost/stolen.
• Don't bring your expensive jewelry; it's awkward to flash too much wealth around and only increases the risk of you being a victim of theft or worse. Be mindful of expensive electronic gear; we suggest if you have a piece of jewelry of significant value to keep it either securely on your person at all times (not in luggage or hotel rooms) or, better yet, just don’t bring it traveling. Similarly, consider bringing a simple point/shoot camera or use your phone rather than bringing your $5,000 camera, especially if you intend to leave it in your room.
PRO TIP: • Consider keeping two wallets on you, one in your day-bag that has your main money reserves and a second small wallet you can pull out while you're out and about on the street for small purchases like snacks and such. It's best not to street-flash hundreds of dollars while buying a 20 cent bottle of water or a skewer of pineapple.
• The local currency is the Dong (Vietnam) and the Riel (Cambodia). For reasons related to their economic histories, both currencies possess a lot of zeros on their notes. A dollar's worth of Vietnamese dong is currently about 23,000 VND, a dollar's worth of Cambodian riel is about 4000 KHR. Just cashing in a single US hundred dollar bill makes you a millionaire. PRO TIP: Be sure and look closely at each note when spending them- some colors are similar and it's easy to get confused and accidentally hand over the wrong note. Most merchants will bring the error to your attention with a chuckle and kind scolding, but some are more unethical opportunists who will quickly pocket the extra cash. Dan knows some tricks of the trade and is happy to assist with good currency management skills, just ask!