Currency exchange

When there is a need to exchange foreign currency in Phu Quoc, it is mandatory to go to licensed banks or exchange agents and clearly question the "cash purchase rate". The flashing exchange rate numbers on the reference list are not always the real money that you will hold in your hand, especially when you hold bills of different denominations or exchange less popular foreign currencies.

How to prepare?

When bringing cash to exchange, keep your eyes glued to the correct column "cash exchange rate", do not dream of taking out the number of the "transfer rate" column to calculate it mentally. You must ask the counter staff if they accept the foreign currency and the denomination of the bill you are holding, then ask to close the amount of Vietnamese Dong received before officially handing over the money. Count the money slowly at the counter and store the transaction receipt carefully.

Situations to keep in mind

Even if it is the same currency, the cash purchase rate, the selling rate, and the transfer purchase rate are three completely different numbers. Don't naively think that every currency exchange point will apply the same bargain price. With large sums of money, a seemingly small difference like an ant on a listing board can swell into a lost amount of money that makes you sad.

Before you go

Choose to deposit gold at large banks or reputable and properly licensed money exchange agents.
Ask to read the applicable exchange rate and lock in the actual amount received before passing the money through the glass door slot.
Count the money fairly at the counter and keep the receipt as proof.
Stay away from the enticements of money exchange transactions from "baits" floating outside official exchange points.