Money Tips for Vientiane
This is a non-comprehensive list in progress...
It focuses on accessing money - you will have to do your own budgeting. Note this info can change anytime so take this as a guide only and have your own back up plans. Sorry this is also very Vientiane centric. Rural Laos is a completely different world.
Currency:
In Vientiane and Luang Prabang, USD, Thai Baht and Lao Kip are interchangeable. You can pay for a meal in all three currencies if you want.
Some French establishments will also accept Euro (in fact, the French Language Centre officially only takes Kip and Euro for payment for french classes - I think they have really crossed the line there). It is easy to change Euro at banks.
Banks:
The Banque de Commerce Exterior Lao (BCEL) is on Road along the Mekong.
The Joint Development Bank is on Lane Xang Avenue, just opposite Le Grillon Restaurant.
The Lao-Viet Bank is also on Lane Xang Avenue, corner of Don Palang Road.
Other banks I have not used but could be as good or better:
Krung-Thai Bank on Lane Xang Avenue near the President’s Palace.
Banks are generally open 8:30am to 4:30am.
Visa Cash Advance:
You can get USD from at least the above 3 banks in Vientiane. I avoid the Lao-Viet Bank because it charges the highest commission of 3.5% for cash advances whereas BCEL and JDB charge only 3%.
You need your passport for ID.
BCEL has a withdrawal limit of US$500. It also has an attached Exchange booth that is open Saturdays until 3pm.
Sorry, no advice on Mastercard.
ATMs:
There are quite a few 24 ATMS in Vientiane now, but the maximum withdrawal amount is 1 million Kip - ie $100US. As most banks charge $4 or $5 for the transaction, it's not very cost effective for long term stay in Laos.
The ATMs need to be International, not domestic ones. The one at BCEL seems popular but it only dispenses a maximum of US$70. I would prefer the one opposite Lao Plaza Hotel (next to Chinese(?) Restaurant) or the banks along Lane Xang Avenue.
You also get a centimetre wad of currency so bring a bag else you will be an easy target.
Travellers Cheques:
No actual experience with this but have heard the following:
The Lao-Viet Bank charges 2% with a minimum of $2.
The Joint Development Bank charges $2 per cheque.
Alternatives:
Cross the border to NongKai or Udon in Thailand and withdraw lots of Baht.
Tip:
Don’t forget to inform your bank you are travelling to Laos/Thailand or they might freeze your account.
Outside Vientiane:
This is outside my expertise. I would not expect to get money out of a bank outside Vientiane and Luang Prabang. Bring cash and make sure it is in kip.
In Vientiane and Luang Prabang the hotels will take credit card but be prepared to pay cash all other times. In the larger towns paying buy US$ cash is ok but don’t expect them to have change.
Last Updated: 20070110