Should I exchange money at bank or currency exchange?

Where is the best place to change money in Vietnam?

Ah, the eternal quest for Vietnamese dong! Banks, naturally, are the go-to. Think of them as financial fortresses. Safe and oh-so-dependable.

But “convenient”? As convenient as finding a decent parking spot downtown on a Saturday. Their hours are, shall we say, bankerly? 8-4, Mon-Fri. Miss that window? Too bad, so sad!

Competitive rates are a plus. They won’t exactly rob you blind. (Unless you consider the ATM fees. Ouch!) It’s like getting socks on sale, you feel a little less poor.

Seriously, though, banks are relatively dependable. I mean, my luck with street vendors is…questionable. I once got shortchanged so bad, I swear the guy winked. WINKED!

• Banks: Like a predictable sitcom.
• Good: For safety and fairly good rates.
• Bad: Their hours are stuck in 1985.

Let’s be clear. Banks are reliable. But that doesn’t mean you can’t explore other options. Unless, of course, you LIKE queuing, like me! (Okay, not really.) So, maybe, just maybe, look around a little? Don’t say I didn’t warn ya.

Does your bank give you the best exchange rate?

Banks? Exchange rates? A fiction. Seven percent? Amateur numbers.

Best? It is a relative term, like value. Consider this:

• Airport kiosks: Avoid. Obvious, right? Rip-off city.
• Bank exchange: No guarantee. My bank, Chase, offers subpar rates. Always shop. Around.
• Credit cards: Sometimes. Foreign transaction fees kill it, though some, like Capital One, waive it. Points too!
• ATMs: Hit or miss. Check fees first. Always.
• Currency exchange services: Maybe. Research intensely. Check reviews.
• Wise (formerly TransferWise): Generally decent. Fees are transparent. Convenient for online transfers. But still check around.

Reddit? A hive of misinformed opinions.

Foreign currency? Think long game. And always ask: Am I being played?

Exchanging currency isn’t the problem, it’s being taken advantage of. You want the best rate. Do you?

Vietnam, huh? Never been.

Is it cheaper to exchange money at home or abroad?

ATM wins. Destination. Always. Fees exist. Rate superior. Banks lose. Currency exchange? Forget it.

• ATMs offer competitive rates. Wholesale rates. Near-perfect exchange.

• Foreign transaction fees? Suck it up. Still cheaper. My bank charges 3%. I pay it.

• Bank exchanges: Ripoff. Seriously. Avoid.

• Currency exchange places: Desperation move. Never again. Once, Frankfurt airport…oof. Big mistake.

• Pre-ordering currency? A trap.

Why ATMs?

• Access to the interbank rate. Banks use it. You get it too.

• Overhead. ATMs have less. Lower costs, better rates. Simple.

• Convenience. Obvious.

Exceptions exist. Rare. Check. Maybe. Sometimes.