I’m going to Vietnam on holiday in the next weeks and I need to exchange NTD to VND. I was wondering what’s the cheapest way to exchange money. I bank with Cathay United Bank, but I’m unsure if I can use a debit card abroad to withdraw money on a Vietnamese ATM. In the past I exchanged NTD to foreign currency in a bank in Taiwan, but I don’t feel very safe when carrying large amounts of cash, especially in a country like Vietnam
Here’s what I do when traveling.
Carry 100 USD’s as emergency cash in case your ATM card doesn’t work or is stolen or shit happens. Make sure it is USD’s because it will be really hard to change TWD except in a few countries.
Use my ATM card for convenience. It is VERY important that you setup your ATM card for international use. If you haven’t used it abroad before then it probably isn’t setup (illogical). In Taiwan your ATM card uses a 6 digit pin but internationally it is a 4 digit pin. If you don’t know this 4 digit pin then go to your bank to reset it or possibly setup your account for international use.
Carry a Visa card as backup. It’s not cheap to do a cash advance on a credit card but it beats the hell out of ruining your trip and/or phoning home to setup a Western Union money transfer from the parents. I also have a US based ATM card so I have 4 different money options when traveling. USD in currency, Taiwan ATM, US ATM and US credit card. Something is going to work.
I use my ATM debit card from USA when traveling in Vietnam. No problems.
If I didn’t want to use my ATM, I would convert my NTD to USD, and use in Vietnam. Can get nice exchange rates for USD.
Get a money belt or carry the money in one of the carriers that goes underneath cloths around waste or neck. Sounds stupid, but once I tried the one around the waste under my clothes, I’ve never looked back and keep my big cash, credit cards, and passport there.
Thanks for the tips. I guess I should also bring my german credit card. My bank allows me to withdraw money abroad without an ATM fee(if there’s a fee they refund me). I guess that might be better option than changing from NTD to USD to VND
I don’t see why you wouldn’t just try to use your Taiwan ATM card as a primary option. I’m assuming that at some point you need to pay a fee to transfer money to a German account to pay the balance.
Does your German credit card charge a cash advance fee? It might waive ATM fees but my credit card charges 4% for cash advances (ATM usage). This is steep but acceptable as 2nd backup plan.
I would still carry some USD emergency cash.
Does your German credit card charge a cash advance fee? It might waive ATM fees but my credit card charges 4% for cash advances (ATM usage). This is steep but acceptable as 2nd backup plan.[/quote]
Nope, no fee for that either.
Exchange some TWD to USD or you can use visa card or master card to withdraw money in VN.
Always ask price before buying anything.
If you want to stay at Capital Garden Hotel just pm me, my friend works there…
Have a great trip!