Exchanging Money in Russia

[Fettman 0]

Anyone have any advice about the best way to exchange money in Russia? In Germany I used my ATM card to get Euros, is that also generally available in Russia (i.e. Moscow) or should I bring money with me to exchange there, etc.?

Any information or experiences would be appreciated.

[san diego 407]

I recommend withdrawing money from the ATM machines with your bank card. I use bank of america and had no problem getting money there. In addition you get the best exchange rate this way.

[Neonred 3,446]

I always took cash and exchanged it myself. Was able to shop around and get a better rate than with ATMs. My ATM card was my back up but rarely used it.

[SMR 368]

Anyone have any advice about the best way to exchange money in Russia? In Germany I used my ATM card to get Euros, is that also generally available in Russia (i.e. Moscow) or should I bring money with me to exchange there, etc.?

Any information or experiences would be appreciated.

I can't comment on the comparison between exchange rates, but I always took my visa ATM card and used it to withdraw money from my account into rubles. I don't think there will be a problem with this in any of the major cities and certainly not in Moscow. In addition to the exchange rate, there is usually a transaction charge, but that is determined by your bank. If you want to go this route, check things with your bank. Make sure they know you are going so they don't turn your card off due to some fraud alert (more likely in Russia than in Germany).

If you want to go the route of bringing cash and exchanging, consider that in the recent past couple months, there has been a major crackdown in Russia on freelance currency exchange kiosks. You are now looking at a lot less options, probably at a bank. That makes things more difficult and will cut down your ability to negotiate rates (but it also means they will probably offer a reasonable rate from the get-go). You will probably need to provide your passport (which they will make a photocopy of) if you want to exchange currency in a bank.

[Gary and Alla 3,694]

Anyone have any advice about the best way to exchange money in Russia? In Germany I used my ATM card to get Euros, is that also generally available in Russia (i.e. Moscow) or should I bring money with me to exchange there, etc.?

Any information or experiences would be appreciated.

Yes, withdraw money at the ATM. Most of them have no fees for this. Always keep some Rubles if you will be traveling there so you will have some cash when you arrive, enough for a car to get you out of the airport. I advise against using ATMs at the airport.

[WARREN-IRINA 1]

I used the ATM machines and the machines will tell you what bank it is and you select the language you want to use. You will have to stand in line with the Russians as they are using them just like we do.

[Fettman 0]

I used the ATM machines and the machines will tell you what bank it is and you select the language you want to use. You will have to stand in line with the Russians as they are using them just like we do.

Really? I they have technology in Russia? I thought it was some backwards country that was still using the telegraph and the barter system to pay for things... I was planning on bringing several chickens for this purpose...

It has been 9 years since I have been to Russia and I wanted to find out what people's experiences have been recently. I was more concerned about fees and exchange rates with ATMs and if anyone had any problems.

[SMR 368]

Really? I they have technology in Russia? I thought it was some backwards country that was still using the telegraph and the barter system to pay for things... I was planning on bringing several chickens for this purpose...

It has been 9 years since I have been to Russia and I wanted to find out what people's experiences have been recently. I was more concerned about fees and exchange rates with ATMs and if anyone had any problems.

Yeah, fees are determined by the bank that issued you the card (and can be substantial). But if you get the right card from the right bank they can be negligible or 0.

[Gary and Alla 3,694]

Really? I they have technology in Russia? I thought it was some backwards country that was still using the telegraph and the barter system to pay for things... I was planning on bringing several chickens for this purpose...

It has been 9 years since I have been to Russia and I wanted to find out what people's experiences have been recently. I was more concerned about fees and exchange rates with ATMs and if anyone had any problems.

Our son goes to school in Russia and until recently (when his ATM card got stolen) we were depositing money in his account here and he was withdrawing it there. No bank fees on the Russian end at the bank he uses and his bank here charges him something less than 1%. The exchange rate is pretty much the "official" rate.

We always keep a few hundred Hryvnia and Rubles when we come back as "starter" money to get us out of the airport. Otherwise we just use ATMs in either Ukraine or Russia

[Fettman 0]

I appreciate all the feedback and advice. Thanks for the help!

[Turboguy 6]

You do need to be aware that at the very least you should let the bank know you will be there or your card may not work. Some banks won't allow atm card use at all over there. I opened an acount just to give the ATM card to my fiancee and then found even with notice they would not allow use there.

One other thing, if you do take cash, make sure the bills are perfect. Even a crease from a fold or a mark from one of the pens they use to test a bill to see if it counterfit will make the bill virtually unusalble in the FSU. Sometimes you may find you can use it but won't get full value, other times you can't use them at all.

[Gary and Alla 3,694]

You do need to be aware that at the very least you should let the bank know you will be there or your card may not work. Some banks won't allow atm card use at all over there. I opened an acount just to give the ATM card to my fiancee and then found even with notice they would not allow use there.

One other thing, if you do take cash, make sure the bills are perfect. Even a crease from a fold or a mark from one of the pens they use to test a bill to see if it counterfit will make the bill virtually unusalble in the FSU. Sometimes you may find you can use it but won't get full value, other times you can't use them at all.

all true!

[anka 1]

You do need to be aware that at the very least you should let the bank know you will be there or your card may not work. Some banks won't allow atm card use at all over there. I opened an acount just to give the ATM card to my fiancee and then found even with notice they would not allow use there.

One other thing, if you do take cash, make sure the bills are perfect. Even a crease from a fold or a mark from one of the pens they use to test a bill to see if it counterfit will make the bill virtually unusalble in the FSU. Sometimes you may find you can use it but won't get full value, other times you can't use them at all.

YES!

Also, in my experience, it's ~safer~ to go to an ATM that's physically attached to/inside of a banking establishment. I'd avoid using ATMs found in other "unofficial" locations such as in a cafe or on the street or something. And there's a lot of things that are still "Cash Only" so it's best to get a bunch of rubles out at once and then keep a stash of it in a safe place (other than on you/in your wallet).

[Tnic 5]

My ex's mama had an ATM card that I got just for her and she (well her granddaughter) would draw her monthly support with no problems and a small fee from Banknorth.

Now I live in Ukraine and use my bankomat exclusively. Banknorth knows the card is here and I gave them the expiration date of the card for the end date they demanded, but my card from People's United (I didn't report overseas use to them) also works fine with no flags. I know a guy from RMP (GG) that ALWAYS has problems with his HSBC card EVERY TIME he tells them he's going intl. and never has a problem when he doesn't say anything.

[easyukraine 1]

my lady uses my paypal card it seems to have the best exchange rate and charges under $2 for the exchange and bankomat fee. so far haven't had a problem with it at all.