Money in Vietnam - How much you should tips for services in Vietnam

Money in Vietnam
You will be using local currency Dong (Vietnam dong). The dong (VND) is Vietnam’s official currency. Paper notes come in denominations of 200VND; 500VND; 1000VND;  2000VND;  5000VND; 10,000VND; 20,000VND; 50,000VND; 100,000VND and 500,00VND. In 2003, coins were reintroduced in denominations of 200 VND; 500 VND; 1000VND; 2000VND and 5000VND but after one year, coins are hardly to accept by people so now Vietnamese use papper money only.

The government Banks check rate is Vietcombank the website for exchange rates: http://www.vietcombank.com.vn/ExchangeRates/ , if you exchange money from other banks the rate will be a bit lower than head bank.

Money for spending or payment:
The shops in tourists places love to get cash than credit cards (not in local area such as northern provinces). Credit cards you can pay and the bank will charge on your credit card 3% or 4% or you can take money from ATMs. The ATMs dispense dong in 50,0000VND, 100, 000 VND, 200,000VND, 500,000VND denominations. The limit of 5,000,000VND for each withdrawal. ATMs will charge a fee of each transaction about 75,000d – 100,000d.

The USD, the government’s crackdown on the use of foreign currency within Vietnam, but all the most of shops still get US$. But the use of dollars is less easy than it used to be in the country. Exchange your money at the banks or other authorized currency exchange centers such as at the airport or post offices.

The banks are open from Monday to Friday from 8AM to 4PM lunch time is from 11:30 to 1PM you can exchange money from the bank, they will charge from 3 – 4%.
Credit cards payment: Many hotels, restaurants and shops centered in tourist area honor Visa, American Express, JCB Cards or Master Cards. Each transaction will be charged an additional 3 – 4%. VietcomBank offers cashes advances against your Visa or Mastercards Credit card if you need cash in a hurry.

Please Note with Travellers cheques:

The travelers cheques are accepted in larger cities in Asia but can only be changed at the money exchanges or bank (particularly in Vietnam). Should remember bring your passport to present. It will be charged 2 – 5% transaction fee.

This process of changing travelers cheques in Vietnam can be quite time consuming. An alternative to Travellers cheques are prepaid Cash cards that are preloaded with amount prior to travel. Funds can be withdrawn through local cash machines. If you travelling in remote areas you bring adequate funds in cash.

Tipping in Vietnam:
Major hotels and restaurants add a 5% service charge to bills you can choose no tip at these places.
Small tips are always a good things such as for drivers, waiters, boat and the tour guides.

For small services: if possible you can exchange money in Vietnam dong should be easy for you to tip

For Waiter, boat and other services: you can tips about 50,000VND to 100,000 VND (= $2 - $5) should be great for them.

For drivers: it depends on your using day, you can devide into day each day you tips for him $2/day.
For guide: $2/day/person should be good for him (her).

Hotel services: Government run hotels will add a 10% services charge on bill

Taxi:  a small gratuity should be greatly appreciated, tips are not necessary.

Restaurants & Bars: normally 10% service charge is already added onto your bill so many restaurants do not require tippings.

Porters: A tip for them will be greatly appreciated about US$ 2 – 5 that depends on you.

Other tips for budget:
Low budget: you can expect to spend up 25$ a day on food and lodging.
Middle – budget: You can enjoy good restaurant food,  stay comfortable in good hotels, hire cabs you can pend about $65 - $100/day.

High budget: Staying at the luxury hotel, eat at the luxury restaurant and good goods pend about $ 180 - $250/day should be good.

Useful tips:
You should store cash, credit cards, and other valuables in a safe place (in your safebox in hotel), if you have to bring with you should put in your back –pack and wear it carefully and keep an eye on your stuffs.

To calculate currency conversions you shoul bring a small calculator.

When you visit pagoda, you should leave some small donation into donation box just before you leave.