Banks that let you take cash advances in USD

Describe what you mean when you say: "cash advances at the counter" particularly with respect to documentation provided.

Jaitch wrote:

Describe what you mean when you say: "cash advances at the counter" particularly with respect to documentation provided.

I receive my Veterans disability to a government debit Mastercard. Prior to today I would normally go to VietComBank, with my passport, and do a cash advance in USD then go to the jewlery store to change it into VND. However, today VietComBank told me they can longer do USD advances.

I have already opened an account with Citibank and will be able to transfer for free with them, but as everyone knows the US Governments wheels work very slow so I will have to continue to withdraw this way at least for the next 2 months.

VietComBank does advance USD$ for travellers, say to Cambodia (where USD is awful legal even to the point of pulling thousands of dollars), if you show them a ticket (saying you are getting a visa at the border) or passport (with visa).

I nought a few hundred dollars from a jeweller on Le Thanh Ton about two weeks ago and the spread between buy/sell was only a couple of bucks per USD$100.

The HSBC is even more useless at paying out in USD$.

Thanks JaiTech,

Apparently they do not do that anymore, at least in Bien Hoa, as of November. But you are right the spread is not the big of a deal especially seeing as I only have to wait the next moth or 2.

Hi guys,

As we speak, the Vietnamese banking industry is going down the tube; and he central government is loosing a lot of sleep over this.  They are trying to hold on to whatever foreign currency that they have.

Last month, with plane ticket and passports in hand, I went to Eximbank to buy USDs.  Per Vietnamese directives, I could have bought up to 5000 USDs.  But, after over half an hour of wrangling with his superior, a bank buddy of mine came to tell me that the most they could sell to me was 200 USDs. 

The financial situation there is very bleak right now, especially when it comes to USDs; and many are expecting it to get worst.  Therefore, get what you can and when you can now.

Best wishes,
Howie

Wild_1 wrote:

The financial situation there is very bleak right now, especially when it comes to USDs; and many are expecting it to get worst. Howie

VietNam sells around USD$6,000,000,000 in seafood products to the US every year!

I am happy my employer invoices overseas in either North America or Europe and that the money is held overseas until needed here!

I guess I will just have to suck it up for the next month or 2 until Uncle Sam changes my direct deposit.

While we are on this topic, let me remind you fellas to be cautious in your dealings with the Vietnamese jewelers these days.  With the economy cash-strapped, I have a sense that they might start to tighten the screws on the pratice of foreign currency tradings, on the part of the local jewelers.  So be careful, men; don't get caught in the cross fire...

Wild_1,

You might be right on that, I think the entire ACB scandal will have a ripple affect on the jewlery stores. There's only a few places in Bien Hoa that will exchange money now. That's ok though I usually on exchange enough for beer, food, and rent, in that order I do have my priorities.