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Money & Payments in Phu Quoc

Good to know

Good to Know

  • Cash is still essential—ATMs are widespread but always carry backup cash for small vendors and markets.
  • If paying by card, expect 2.5–3% surcharge at many restaurants and businesses; cash is often more economical.
  • Phu Quoc's tipping culture is more developed than much of Vietnam due to resort tourism; however, tipping is still far from obligatory and much smaller than Western expectations.
  • Digital wallets (MoMo, ZaloPay) are gaining popularity and offer convenient, fee-free payment options at many urban businesses.
  • Avoid old or damaged banknotes—Vietnamese businesses may refuse torn or marked bills.

Credit Cards

Note
Most establishments catering to international visitors accept Visa and Mastercard; American Express has more limited acceptance.

Widely Accepted

  • Visa
  • Mastercard

Limited Acceptance

  • American Express

Digital Wallets

Note
Growing in popularity, especially in urban areas and increasingly accepted at ATMs and businesses for contactless payments.

Available

  • MoMo
  • ZaloPay

Banking

Account Types
Domestic accounts (VND) for daily use; foreign currency accounts for international transfers (subject to strict capital controls). Time deposit/fixed-rate accounts available for savings.
Fees And Costs
ATM withdrawal fees typically USD 0.87–2.17 per transaction depending on bank (some free). Domestic account maintenance minimum balance typically 1 million VND. ATM withdrawal limit per transaction USD 78.80–197.01. International banks may charge more but offer broader services; local banks more cost-effective for everyday use.
Currency Exchange
Major currency exchange available at banks and licensed money exchange locations (typically better rates than resorts or airport). Banks open limited hours for exchange services.

Banks In Phu Quoc

  • VietinBank
    Branches
    100 30/4 Street, Duong Dong; 139 Nguyen Trung Truc Street, Duong Dong
  • Vietcombank
    Hours
    Mon-Sat: 7am-11am, 1pm-4pm
    Branches
    1A Hung Vuong Street, Duong Dong; additional ATMs island-wide
  • TPBank
    Hours
    8:00-17:00 Mon-Fri, 8:00-11:30 Sat
    Address
    87 Nguyen Trung Truc, Duong Dong
  • Sacombank
    Address
    52B 30/4 Street, Duong Dong
  • Dong A Bank
    Address
    125 Nguyen Trung Truc, Duong Dong
  • ACB (Asia Commercial Bank)
    Hours
    7:30-16:30 Mon-Fri, 7:30-11:30 Sat
  • BIDV (Bank for Investment and Development of Vietnam)
    Address
    196 Nguyen Trung Truc Street, Duong Dong
  • MBBank
    Address
    249-251 Nguyen Trung Truc, Duong Dong
  • Agribank
    Address
    2 Tran Hung Dao Street, Duong Dong

Account Opening For Foreigners

In Person Visit
Most banks require foreigners to visit a branch in person to complete account opening. Some banks like HSBC may allow partial online application but finalize in-person.
Documentation Required
Valid passport, legal visa or residence permit (1+ year), proof of address or employment. Some banks require minimum deposits (typically USD 300 or equivalent).
Legal Residency Requirement
Foreigners must have legal residence in Vietnam for 12+ months to open a standard bank account. Short-term tourists may open accounts on tourist visas but cannot receive transfers from Vietnamese accounts without employment documentation.

ATM Fees

Fee Range
2–4% for Visa/Mastercard withdrawals, with some ATMs charging 1–3%
Card Support
Most ATMs accept Visa, Mastercard, and UnionPay; JCB and American Express less commonly supported
ATM Availability
ATMs are widespread across Phu Quoc, concentrated in Duong Dong town. Major networks include Vietcombank, Techcombank, and others.
Withdrawal Limits
Typically 2,000,000 to 5,000,000 VND per transaction (approximately 76–190 USD at current rates); some ATMs may allow up to 10,000,000 VND
Note
Fees vary by ATM operator and your home bank; ATM operators may charge surcharges in addition to your bank's fees.

Best Practices

  • Choose ATMs from major banks to minimize surcharges
  • Always withdraw in VND (not USD/foreign currency conversion)
  • Withdraw larger amounts per transaction to reduce per-transaction fee impact
  • Check with your home bank before traveling regarding foreign transaction fees

Cash Currency

Currency
Vietnamese Dong (VND)
Foreign Currency Acceptance
USD and other foreign currencies are not commonly accepted for day-to-day purchases; Vietnamese dong is preferred and required for most transactions.

Tipping Norms

Overview
Phu Quoc, now dominated by resort tourism, has adopted increasingly common tipping expectations, but tipping is not mandatory and remains smaller than Western norms.
Spas Massage
₫50,000

Range 50,000–100,000 VND expected for therapists at end of treatment.

General Principle
Tipping is a gesture of appreciation for good service, not an obligation. Omitting a tip is acceptable, especially outside high-end venues.

Restaurants

Upscale Restaurants
Tip 5–10% if service charge not already included.
Service Charge Included
5–10% service charge is standard in many upscale restaurants and usually precludes additional tipping.
Casual Eateries Street Food
Tipping not expected; rounding up small change is informal practice.

Tour Guides

Driver
Give driver approximately half of the guide's tip if separate driver involved.
Multi Day Tour
Hand tip in an envelope at end of journey rather than daily.

Practical Tips

  • Use both hands or place cash in an envelope when handing to anyone older than you.
  • Keep small-denomination notes (20,000, 50,000, 100,000 VND) on hand for tipping.
  • Withdraw a small stack of 50,000 VND notes at start of trip—they are the standard tipping denomination.
  • Tipping should feel like a small thank-you, not charity.
  • Point-of-sale terminals increasingly prompt for tip percentages; Vietnamese diners overwhelmingly say 'no tip,' and foreigners often feel pressured into 10–15%, well above local norms.

Resort And Hotels

Bellhops Porters
₫50,000
Housekeeping Per Night
₫50,000
Note
At international-brand resorts, tipping norms align closer to global hospitality standards.

Cards are increasingly accepted in Phu Quoc's hotels, upscale restaurants, and tourist areas, but cash remains essential for everyday transactions.

Where Cards Work

Where Cards Work

  • Hotels and resorts
  • Upscale restaurants
  • Popular tourist attractions

Where Cash Needed

Where Cash Needed

  • Local markets and night markets
  • Street food stalls
  • Smaller shops and vendors
  • Family-owned businesses

Card Surcharge Warning

Some establishments charge 3–5% surcharge for card payments; banks may add 2.5–3% commission for credit card transactions.

AI-generated estimateData refreshed July 2026

Sources cited for this category

These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.

  1. 1.phuquoctrip.com
  2. 2.sungetawaystravel.com
  3. 3.vietnamtourism.com
  4. 4.bmtraveladv.com
  5. 5.tradingeconomics.com
  6. 6.vinwonders.com
  7. 7.vinmec.com
  8. 8.vinpearl.com
  9. 9.phuquoc-sandbox.com
  10. 10.visitphuquoc.com.vn
  11. 11.medigence.com
  12. 12.medicaltourismco.com
  13. 13.laverandaresorts.com
  14. 14.casinocorona.vn
  15. 15.expatexchange.com
  16. 16.vietnam.incorp.asia
  17. 17.maisonoffice.vn
  18. 18.antoursvietnam.com
  19. 19.wise.com
  20. 20.phuquoctrip.com
  21. 21.rentapartment.vn
  22. 22.businesssetup.com
  23. 23.kk2trip.com
  24. 24.movetoasia.com
  25. 25.kk2trip.com
  26. 26.vinmec.com
  27. 27.sungetawaystravel.com
  28. 28.sungetawaystravel.com
  29. 29.sungetawaystravel.com
  30. 30.ofx.com
  31. 31.xe.com

More About Phu Quoc

Data last updated July 2026 · Verify anything important.