Money in Laos: A Tourist Guide to ATMs, Cards and Exchange

In a certain weird way, Laos feels like nobody should be using money there. It’s rural, rugged, slow. Everything is simple and easy-going. But you still need some money, right?

So here’s a practical guide to tourist money for Laos. Everything about ATMs, exchanging currency, and paying by card. From a backpacker for backpackers, although the information here is valid for all sorts of travelers.

Best foreign currency to bring	USD, THB
Where to exchange?	Exchange bureaus
ATMs without a fee	None. BCEL has the lowest fee
Can you withdraw USD directly?	No
Visa or Mastercard?	Use Mastercard for better rates
Can you use Revolut, Wise, Monese, etc?	Yes!
Cash or card?	Cash

All this and more in this guide to money in Laos!

Currency in Laos

The currency in Laos is the Lao Kip with code LAK.

The Lao Kip was pretty stable until 2019 but has since been dropping in value (which is good for you, the foreign traveler, but it sucks for the Laotians).

Just like money in Indonesia and money in Vietnam, the Lao Kip has a lot of zeroes. Try to disregard the last 3 – that makes money management easier.

In this guide, I use k (as in kilo) instead of the last 3 zeroes (000), thus 10.000 = 10k.

No coins are in circulation in Laos anymore.

The banknote denominations are 500, 1000, 2000, 5000, 10.000, 20.000, 50.000, and 100.000 (<5$) being the largest banknote. This means that just like with Indonesian money, you will be carrying a thick stack of banknotes in your wallet. Thankfully, Laos is just as cheap.

Can you use your card in Laos?

You can seldom use your foreign card to pay in Laos. Card payments are accepted at very few places.

Cards are accepted at high-end international hotels and some souvenir shops in big cities like Vientiane and Luang Prabang.

Expect to be charged a 2-3% card payment fee too.

Everywhere else in Laos, you will need cash. Imagine going on a jungle trek to isolated villages around the Bolaven Plateau and the locals take out a POS terminal. Right, it ain’t happening.

ATMs in Laos

You will not struggle to find ATMs in cities. Luang Prabang and Vientiane have plenty, Luang Namtha, Vang Vieng, and Huay Xai have a few too. Nong Khiaw has at least 2.

If the town isn’t too isolated, there will be at least 1 ATM.

VISA cards are accepted by all ATMs. Mastercards are mostly accepted, but some ATMs (for example Indochina Bank) may reject them. Maestro will get accepted at BCEL ATMs but may not be at others. American Express is almost universally not accepted.

The maximum withdrawal amount on ATMs is between 1 and 3 million LAK. The maximum is at Indochina Bank ATMs at 3 million.

Withdrawal Fees

ALL ATMs in Laos charge a withdrawal fee.

This is on top of any fees charged on your end from your bank. The latter you can avoid by using a FinTech solution like Revolut, Curve, or Monese.

The fee is almost always 30.000 LAK regardless of the withdrawn amount, except for JDB bank which charges 3% with a 40.000 LAK minimum.

BCEL used to be the best bank to withdraw money in Laos. However, after they increased their fee and decreased the maximum withdrawable limit, their fee of 30.000 LAK comes to 1.5% if you withdraw 2.000.000 LAK.

On the other hand, Indochina Bank allows you to withdraw up to 3.000.000 LAK for a fee of 40.000 LAK, which is 1.33%. However, their ATMs only accept VISA cards! Visa cards give much worse rates for LAK exchanges (explored below)!

That’s why the best ATM to withdraw money in Laos is BCEL but only if you use a Mastercard to withdraw. All other banks charge at least 40.000 LAK and have lower withdrawal limits making them worse.

Indochina Bank is not as widespread as BCEL, which is the most common bank in Laos. In big cities like Vientiane, Luang Prabang, Pakse, Savannakhet, and Luang Namtha you will find at least 1 ATM from each bank.

Smaller cities and villages may have only a handful of ATMs. If there’s only one ATM in a town, it will likely be BCEL.

Visa vs Mastercard Exchange Rates

The last time I went to Laos, I withdrew 3.000.000 LAK from an ATM of Indochina Bank using my Revolut Visa card.

I was baffled by the horrible rate at which euros were exchanged to Kip. My bank did the exchange – I didn’t use automatic conversion!

I did another withdrawal from a BCEL ATM using my Monese Mastercard. The rate was a whopping 6% better than what I got on my Visa.

I first thought the problem was Revolut. It may be. But then others reported using their Visa cards in Laos with similar results – bad rates. I am now confident that the problem is the Market exchange rates that the Visa card system uses.

Since the Lao Kip does not have a big international trading volume, the spread between Buy and Sell can be as high as 16%! It appears that Visa is indeed using this ridiculous spread, whereas Mastercard uses a standard 1-2% spread.

This adds another layer of complexion about withdrawing money in Laos. Long story short – withdraw using Mastercard for better rates – this removes Indochina Bank as an option and leaves BCEL as the best ATM in Laos.

Digital Money, Payment Apps, and QR Codes

A new way to spend money in Laos was introduced recently. One that many countries in the region already use extensively – paying by scanning a QR code.

As a foreigner, you CAN take advantage of the relative ease and convenience of paying with your phone. All you have to do is download the EzyKip App, register, and load some money.

You can even withdraw from ATMs by selecting the option for EzyKip and scanning the QR code.

Here comes the unpleasant twist – the top-up fee on EzyKip is between 2.1% and 2.8% depending on the card. This is higher than the 1.5% you would pay when withdrawing the maximum at BCEL ATMs.

The good news is that you can withdraw whatever is left in your account at the end of your trip.

Exchanging Money in Laos

You don’t have to exchange money in Laos if you have a card with low or no fees.

But I understand if you carry cash when traveling and exchange it for the local currency. It’s normal and safe. So here’s how to be prepared about exchanging money in Laos.

What currency to bring

As with any other country in Southeast Asia, the US dollar is the best foreign currency to carry to Laos.

You will have no issues exchanging these currencies in bigger cities:

• Euro;
• British Pound;
• Thai Baht;
• Chinese Yuan;
• Japanese Yen;
• Swiss Franc;
• Australian Dollar;
• New Zealand Dollar;
• Canadian Dollar;
• Singaporean Dollar;

If your currency is not on the list it’s better to change it to something more widely accepted. You cannot go wrong with US dollars.

Where to Exchange Money

You can exchange at:

• Banks (Not that many around. Bring your passport!)
• Airports (worst rates)
• Exchange bureaus in a city (Best rates)
• Hotels (just okay)
• Tour Agencies (bad rates considering there’s usually a bureau nearby)
• Dodgy guy at the market (you’re setting yourself up to be scammed)

Tips for Changing Money in Laos

Most of these are common sense and not any different from other countries. Here are my top tips:

• Higher denominations = higher rates;
• Damaged banknotes = lower rates + fee (if accepted at all);
• Don’t accept foreign banknotes with ANY damage (if changing Kip back to USD for example);

Talking about changing LAK back to USD: it can be difficult. Many travelers have reported extreme bureaucracy or outright refusals when trying to get rid of Lao Kip. Don’t withdraw too much LAK in the first place and if you must exchange back into USD, be patient and persistent.

Pro Tips and Common Scams

I’ve compiled some smart tips from my travels to Laos and fellow travelers’ confessions to give you a heads-up.

• Never take any banknotes with tears or holes; Lao Kip banknotes are often old and fragile. Anything that’s torn will likely not be accepted by someone else, so don’t take it either.
• Mentally ignore the last 3 zeroes to make calculations easier. 50.000 is just 50k, 20.000 is 20k.
• Know the multiple of your currency. Say you use US dollars and 10.000 LAK is around 0.5$. Your multiple is 5. If the price of something is 40.000 LAK, ignore the zeroes, multiply by 5 and you have 20, i.e. 2$. In this example, it’s easier to just divide by 2 but for other multipliers this trick is handy.

How much cash to bring to Laos?

This depends on your way of traveling and your budget. Laos is cheap and what you need you can get from the ATM.

My advice is to have at least 200$ just in case something goes wrong with your bank cards and you need emergency cash until you sort it out.

When I went to Laos I had exactly that much stashed away but since I exclusively used my Revolut card, I didn’t have to exchange a single time.

Example prices

All prices are in Lao Kip (LAK). Laos is experiencing moderate inflation combined with a slow devaluation of the Kip, which means that prices may have risen by the time you’re reading this.

10.000 LAK (10k) ~= 0.45 USD.

• Papaya Salad: 20-30k;
• Khao Soi: 25 – 40k;
• Lao self-made barbeque at a restaurant: 35k (that one was super cheap and amazing too);
• Passionfruit cooler: 10 – 20k;
• Sugarcane juice: 10 – 15k;
• Can of beer (supermarket): 8 – 15k;
• Can of beer (bar/night market): 15 – 30k;
• Museums: 30 – 50k;
• Waterfalls on the Bolaven Loop: 10 – 20k;
• Kong Lor Cave boat ride: 200k per person;
• 1-day motorcycle rental: 120 – 180k;
• Ticket from Luang Prabang to Nong Khiaw: 200k;
• High-speed train from Luang Prabang to Vientiane: 320k;
• 1-hour full-body massage: 100-200k;
• Budget hostel: 50 – 180k (usually breakfast included); 
• Guesthouses: 100 – 250k
• Mid-range hotels – 300 – 800k;
• Jungle trekking group tour – 500k – 1 million per day;
• Travel Insurance from SafetyWing (covers you in Laos): ~45 USD for a 3-week trip.

Bargaining

Bargaining is common in Laos, especially in traditional markets.

In the eyes of locals, every foreigner is rich. Thus, the first price you hear will be double or more what the locals pay.

It’s not uncommon to get a price 10 times higher than the actual!

That being said, I’ve found Lao locals and vendors to be way kinder than their Vietnamese counterparts and not overprice too much.

As a foreigner, you will never get the price for locals. But if you bargain playfully and politely, you can easily get a 50% discount most of the time.

The rule of thumb is that if there’s a price tag, don’t bargain. This is not entirely true as merchants put tags on stuff at (for example) the Luang Prabang night market and then end up selling them for less. Just ask for a discount 🙂

Tipping

Tipping is not part of the culture in Laos.

It’s not expected and it’s not common. Lao people don’t tip.

However, tipping is very much appreciated and will bring good fortunes (and new friends) your way!

Frequently Asked Questions

Let’s answer some of the most popular questions about money in Laos.

What is the ATM withdrawal limit in Laos?

ATMs have a withdrawal limit between 1 and 3 million Lao Kip (49 to 121 USD).

The ATM with the highest withdrawal limit is Indochina Bank at 3 million LAK for VISA cards and BCEL at 2 million LAK for Mastercard.

What is the ATM with the lowest fees in Laos?

For Mastercard, the best ATM is BCEL. For a withdrawal of 2 million LAK, the fee is 30.000 (1.5%).

For Visa cards, the best ATM is Indochina Bank. For a withdrawal of 3 million LAK, the fee is 40.000 (1.33%). However, Visa cards seem to charge an abysmal LAK exchange rate!

Can you use US dollars in Laos?

Generally no but with a few exceptions.

Visa on arrival is payable in US dollars. You can pay in other currencies but the exchange rate will be quite bad.

Tours and jungle treks are often advertised in US dollars and payment in such is expected although not strictly mandatory.

Zip lines, Via Ferrata experiences, and various adventure sports are advertised in US dollars and payable in USD or Lao Kip.

For most daily transactions only Lao Kip is accepted.

Can you use Revolut in Laos?

Yes, Revolut cards work in Laos. Both VISA and Mastercard work. You can withdraw from ATMs and pay on POS terminals with your Revolut card.

Similar fintech apps like Wise, Monese, Curve, N26, and Starling also work there.

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If you are going to other Southeast Asian countries, you may want to read my money guides for them too:

• Tourist Guide to Money in Thailand
• Tourist Guide to Money in Vietnam
• Tourist Guide to Money in Cambodia
• Tourist Guide to Money in Myanmar
• Tourist Guide to Money in Malaysia
• Tourist Guide to Money in Indonesia
• Tourist Guide to Money in Timor Leste