Finance and money forum

Will i get ripped off my using USD in Vitenam/loas/cambodia

lolabunny

newbie
Posts: 3

Hi,

Heading to vitenam/loas/cambodia for 5weeks in October.
Was just going to use my debit card to take money out of the atms over there. Can u get USD out of the cash machines or would it be better to take some USD form home and then the currency of the countries from atms when im out there.
Im frm the UK so dnt want to change all my money to USD as i wud loose out on the exchange rate.

Also if i use USD will i get ripped off? sud i stick to their currency?

thx

#1 Posted: 30/8/2010 - 18:29
Archmichael

adventurer
Posts: 370
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ATM's in Viet Nam and Lao do not dispense dollars, only local currency. I can't speak to the situation in Cambodia, as I've not been yet.

Having some USD along can be useful. New, clean bills, without tears and such, $20 bills and up. Useful mainly for changing into Dong or Kip, depending upon where you plan to go and how you plan to travel. Remote areas tend not to have ATM's. A lot of hotels will charge (on credit cards) in dollars, some give you the option of going with USD or local currency. Smaller places seem less likely to charge in or accept dollars (often cash only).

In my experience, sometimes the price when quoted in Dong or Kip is a bit better than when quoted in $. Sometimes not. You just have to pay attention and keep the exchange rate in mind. For personal reasons (personal philosophy), I prefer to use the currency of the country I am in. Also, keep in mind that, officially or otherwise, Western tourists are often charged a higher rate for things than local people (transportation, admissions, etc.).

#2 Posted: 30/8/2010 - 21:09
travellings-
arah

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Posted from within Vietnam.

As you're from the UK I'd suggest bringing a small amount of $ with you (as in, not a lot because as you say, you have to pay commission / lose on exchange rate to get it) to cover the time before you find an ATM - there is likely to be one at the airport but they are sometimes out of order so best to be safe. You'll be able to use the $ no problem. Then just use money from ATMs, but bring a couple of cards just in case!

And as Archmichael says, just keep an eye on the exchange rate that places are using - it is usually calculated at 19,000 to the $ but some places, usually hotels / tour operators sometimes try to sneak it in at a worse rate. So don't be afraid to borrow their calculator to double check.

#3 Posted: 31/8/2010 - 11:04

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TonyL

flashpacker
Posts: 39

In Cambodia all ATM's that I have encountered will dispense US dollars - $2,000=00 maximum in one withdrawal. In Laos and Vietnam you will only get local currency and in fairly limited amounts per withdrawal. Some scams still exist at ATM's in Laos.

Having said that, there are not many ATM's in Cambodia outside the very major tourist cities.

Hope that this helps.

#4 Posted: 2/9/2010 - 10:41
lolabunny

newbie
Posts: 3

thx guys,

this really helps me out!! so il take a mixture, some dollars prob about $200, cards and then use their currency. cant wait to go

#5 Posted: 2/9/2010 - 16:39
lolabunny

newbie
Posts: 3

thx guys,

this really helps me out!! so il take a mixture, some dollars prob about $200, cards and then use their currency. cant wait to go

#6 Posted: 2/9/2010 - 17:20
joeaddison79

longtail driver
Posts: 7

You might have to pay more at street vendors or small hotels, but at big stores it will be about the same. The risk is if you have USD many people will want more money.

If you live near Michigan I will swap you VND for USD right now. My girlfriend is here for 1 month and she wants a computer for her brother. She has VND and would like to avoid the bank conversion rate / fees. We will exchange currency with you at the current market rate. If you are interested, email me at:

joeaddison79@gmail.com

#7 Posted: 5/1/2011 - 02:14
francesstel-
la

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Hey Lola,

Just a quick note to say it's definitely worth finding out how much your cards charge you per withdrawal. I had a friend who liked to take out small amounts from the ATM every other day thinking it would spare him from a big loss if he got pick-pocketed. When he got home it dawned on him he was charged $20 per withdrawal! I rather risk the pickpockets than the bank

Take care,

FSH

#8 Posted: 5/1/2011 - 18:30
chicoelnino

tout
Posts: 61

WHAT? $20 per withdrawal from credit card plus ATM fee each time??

Christ I don't know if its even worth heading to Asia at this rate with all the misconfusion with charges etc....

#9 Posted: 9/1/2011 - 08:20
francesstel-
la

traveller
Posts: 95
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This guy got a particularly disadvantageous deal but it doesn't have to be that way. Just check your credit card contract before leaving. I wouldn't be put off an entire continent cause of withdrawal fees.

FSH

#10 Posted: 9/1/2011 - 09:24