ATM fee in Vietnam: When traveling to Vietnam, Da Nang (Danang) has become a city you simply can’t miss. Not only is it a fantastic destination in its own right, but its proximity to popular tourist spots like Hoi An and Hue makes it a convenient hub for travelers. Unlike in the U.S. or Europe, Vietnam has many places that don’t accept cards, so having cash on hand is essential. If you’re planning a trip to Vietnam, getting your cash situation sorted out in advance is a must.
While there are various ways to obtain Vietnamese currency, the most cost-effective option is to use an international debit card with favorable foreign transaction fees at a local ATM. That’s why I highly recommend withdrawing cash from an ATM when you’re in Vietnam.
In this post, I’ll provide a detailed comparison of ATM fees in Da Nang, focusing on both the airport and the city center. I’ll also share where you can find fee-free ATMs around town, saving you those extra charges.
Why You Shouldn’t Exchange Cash Beforehand If you’re considering exchanging money before your trip, it’s worth checking out my previous blog post, where I explain why exchanging money before arriving in Vietnam may not be the best idea. I’ve also covered tips for using ATMs in South Korea and Japan in other posts, so be sure to check that out if you’re heading there.
Table of Contents
Breakdown of ATM Fee in Vietnam
The fee structure for using ATMs in Vietnam follows a similar pattern to other countries with well-established banking systems. Here’s a breakdown of the fees you might encounter:
- International Withdrawal Fee from Your Bank: Your home bank may charge a withdrawal fee, typically around $3 for using a foreign ATM. However, many debit cards waive this fee.
- Currency Conversion Fee: When your bank exchanges your home currency to Vietnamese dong, a small conversion fee—usually about 1%—may apply. Some cards offer better rates or even waive this fee.
- Card Issuer Fee: Visa, MasterCard, or American Express may charge around 1% as a foreign transaction fee, though some cards also waive this.
- Local ATM Fee: This is the fee charged by the local bank in Vietnam, and it varies depending on the ATM you use.
Among these, the local ATM fee is the main variable, and this post focuses on how to avoid or minimize it.
Prepare Debit Card with Oversea Fee Wavier
When preparing for international travel, it’s essential to choose a debit card that waives overseas ATM fees, especially if you plan to withdraw cash frequently. Many banks in the U.S. and Europe offer travel-friendly debit cards designed specifically for this purpose. Look for cards that not only waive foreign transaction fees but also reimburse ATM fees charged by international banks.
Popular choices include cards from institutions like Charles Schwab, Fidelity, or Revolut, which offer fee-free withdrawals globally. Be sure to notify your bank about your travel plans to avoid any issues with your card abroad, and always check for any daily withdrawal limits or currency conversion fees that might apply. Having one of these cards can save you significant money, making your trip smoother and more cost-effective.
I use SoFi debit card from US and one from South Korea that waive all fees for withdrawing cash in oversea except for the Local ATM Fee. In Europe, there are multiple alternatives such as Revolut or Wise.
Rough Exchange Rate
The exchange rates change multiple times a day that it is not possible to have one fixed number on a blog post and be exact, it helps understanding a rough amount of fees. Specifically in Vietnam, the numbers in the currency is about 20,000 times higher than USD/Euro of the same value, so it definitely makes it easier to guess the value with a pre-computed numbers. This will also makes it easier to understand the amount of some ATM fee in Vietnam.
The Exchange Rates (as of Oct. 2024)
As you see, the numbers in VND is in difference dimension that it is counter-intuitive to estimate the value by the number in VND. The easiest way to handle it is to have a small table memorized and compared every time.
| Vietnam Dong | US Dollar | Euro |
|---|---|---|
| 10,000 VND | 0.4 USD | 0.37 EUR |
| 20,000 VND | 0.8 USD | 0.74 EUR |
| 24,820 VND | 1 USD | – |
| 27,164 VND | – | 1 EUR |
| 100,000 VND | 4 USD | 3.7 EUR |
| 1,000,000 VND | 40 USD | 37 EUR |
Personally, I would just multiply 20 from USD/EUR then add three 0s to roughly estimate the value.
ATMs in Da Nang Airport
Since there are no fee-free ATMs at Da Nang Airport, I recommend withdrawing cash in the city if possible. However, for those who prefer to have cash on hand in advance for peace of mind, I’ve gathered some information from my personal experience at the airport.
There are a total of four ATMs at Da Nang Airport. After clearing immigration and collecting your luggage, you will find three ATMs immediately to your right as you exit the arrivals area. Additionally, there is one more ATM located on the departure level upstairs.
ATMs: Outside the arrival floor
When you exit the arrivals level, you’ll find the following three ATMs, with their respective fees listed below:
- HSBC: 50,000 VND (approximately 2 USD)
- SeA: Transaction declined
- BIDV: 3% of the withdrawal amount (minimum 50,000 VND) + 10% tax
Among the three ATMs, the SeA bank ATM declined transactions, so it’s not worth considering. Between the remaining two, the Hong Kong-based HSBC ATM offers slightly lower fees compared to the Vietnamese BIDV ATM. Therefore, if you need to withdraw cash at the airport, I recommend using the HSBC ATM for better rates.
When using the HSBC ATM, you will have the option to choose whether to convert the currency before withdrawing. It’s always best to opt for withdrawing without currency conversion. The conversion option is simply another way for the bank to make money by adding extra fees during the process, and there’s no benefit to you. By declining the conversion, you avoid unnecessary fees and get a better exchange rate.
ATMs in Da Nang City
Once you leave the airport and head into the city, you’ll find more ATM options, including those from Shinhan Bank. Interestingly, even if you have a Shinhan Bank debit card, the Shinhan ATM will charge the same fees as it would for other cards, so it’s not particularly advantageous. However, there are ATMs in Da Nang that don’t charge any fees.
ATMs without fee in Da Nang
From my experience, there are two ATMs in Da Nang that do not charge fees. Coincidentally, the names of these banks are quite similar: TP Bank and VP Bank. Both banks are major institutions with branches throughout Vietnam, and you can easily find their locations using Google Maps.
TP Bank
TP Bank, known for its flashy ATM designs, is one of the banks that offers fee-free withdrawals. While it’s not as large as state-owned banks like BIDV, TP Bank is rapidly expanding and can be found throughout Vietnam, including in Da Nang. During my trip, I used a VIVA X debit card instead of a Travelog card, and I noticed a slight difference in the rate, as withdrawals were charged at the remittance rate instead of the standard exchange rate.
To test the process and confirm the information, I withdrew 500,000 VND (roughly 20 USD) using a debit card from South Korea. The other currency here is KRW, but the conditions should be the same for all other international debit cards from US/Europe.
Based on the closing exchange rate on the withdrawal date—5.48 KRW per 100 VND—the withdrawal should roughly amount to 27,750 KRW (calculated as 5.55 x 5,000). This confirmed the accuracy of the expected charges.
Based on the fact that the amount charged was nearly identical to the calculated estimate, it confirmed that there were no additional fees for using the ATM. This shows that TP Bank’s ATM truly offers fee-free withdrawals, making it a great option for travelers looking to avoid unnecessary charges while in Da Nang.
VP Bank
Although this bank may appear more conventional compared to TP Bank, it is also expanding rapidly across Vietnam. Like TP Bank, this bank’s ATMs also offer fee-free withdrawals.
In this case, I used a Travelog debit card to make the withdrawal. At the time of withdrawal, the posted exchange rate was 5.50 KRW per 100 VND, and for the 500,000 VND withdrawn, the amount charged in KRW was exactly 27,500 KRW. Since the calculation matches the charged amount (5.50 x 5,000 = 27,500 KRW), it confirms that no additional fees were applied for using this bank’s ATM either.
ATMs with Fees
While it’s always great to find fee-free ATMs, there may be times when you can’t locate one nearby and need to use an alternative. In such cases, it’s best to choose an ATM that charges the least amount of fees.
Shinhan Bank
Although it’s the same Shinhan Bank I have introduced in the other post on ATMs in South Korea, since it’s a Vietnamese branch, cards issued in South Korea are treated as foreign cards, thus fees are applied. The fee is 50,000 VND, which is roughly around 2 USD.
Agribank
Agribank is similar to a Vietnamese agricultural bank and can be found throughout the country. The withdrawal fee at Agribank ATMs is 22,000 VND. While it’s not free, it’s slightly cheaper compared to other banks.
Conclusion
In this post, we explored the ATM withdrawal fees in Da Nang, Vietnam, which is pretty much the same ATM fee in Vietnam nationwide. Most ATMs, with the exception of BIDV, charge a withdrawal fee of 50,000 VND. If you withdraw 1,000,000 VND, that’s about 5% in fees, while withdrawing 2,000,000 VND incurs around 2.5%. The withdrawal limit is usually capped at 3,000,000 VND, but ATMs from VP Bank and TP Bank offer options to withdraw up to 5,000,000 VND in one transaction.
In summary, it’s best to use VP Bank or TP Bank ATMs in the city to avoid fees, and if you need to withdraw cash at the airport, be mindful of the 50,000 VND fee per transaction. Make sure to utilize local ATMs wisely during your trip to Da Nang to avoid unnecessary expenses.