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currency advice

notts uk
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currency advice

Its our first trip to russia soon doing a two centre with moscow just wondering what currency to take

thanks

Moscow, Russia
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1. Re: currency advice

Credit card and withdraw cash roubles at ATM. Enjoy!

London, United...
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2. Re: currency advice

When I first went in 1988, dollars were compulsory. But they are very largely not accepted now. As Vasily says, credit/debit card and ATMs.

You can't get roubles before - not in London at least. But there is a bank at the airport.

Moscow, Russia
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3. Re: currency advice

> You can't get roubles before - not in London at least

You most definitely can but you shouldn't.

Dereham, United...
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4. Re: currency advice

I got a small amount of roubles from the travel agent to tide me over the first few hours, then ATMs. Remember to tell your provider before you leave so that they don't cancel them.

Edited: 12 April 2013, 18:10
Moscow, Russia
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5. Re: currency advice

Check with your bank whether it would charge commission. In addition, the bank-owner of an ATM, would also likely charge a small fee. If you want to save, just bring pounds, as there are many exchange offices with no commission, including at the airport, where you can exchage and get rubles hassle free.

Edited: 12 April 2013, 20:10
London, United...
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6. Re: currency advice

Really? We were told quite firmly that we couldn't so i didnt enquire further.

The airport is fine

And I think mostly the ATMs in tourist area don't charge a fee - but your bank will...ours seemed to average about £2.00 a time.

Plymouth, Minnesota
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7. Re: currency advice

I have never been charged a fee at any ATM in Russia by the RUSSIAN ATM...and I have made withdrawals may times at many banks. Your bank may choose to tack on some of their own fees to help them make it thru these hard times...

Moscow, Russia
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8. Re: currency advice

For every bank customer, there are three types of ATMs that can be used:

1. ATMs that belong to your financial institution

These are ATMs owned and operated by your bank. Most are in or outside a branch and some are in particular store chains or in areas with no branches close by. Almost all banks offer unlimited withdrawals from their own ATMs with no fee to you.

2. Affiliated ATMs (ATM Networks and Shared Services)

These are ATMs offered by ATM networks or other financial institutions in partnership with your bank. These partnerships allow small banks to compete with larger, national financial institutions by giving their customers/members wider accessibility to their money for little or no fee.

If your bank with an ATM Network, all or most of your withdrawals from these ATMs are free. Some banks offer you access to affiliated ATMs through shared services. The participating institutions form a ring of banks, all of them allowing you to withdraw money from their ATMs with no fee, just like you would from your own institution'’s ATMs..

3. Unaffiliated ATMs ("Foreign ATMs" or "non-bank ATMs")

These are ATMs that your financial institution does not own and shares no affiliation, including most ATMs in convenience stores and ATMs owned by other financial institutions. You may check your balance and withdraw money at these ATMs, but you cannot transfer money between your accounts. Most of the time, you are charged two fees for using these ATMs. Here's where the ATM fees become staggering...

The first fee is from your own bank. When you withdraw money from an ATM that's not affiliated with your institution, your bank pays the company that owns the ATM a small fee for the transaction. Often this charge is passed on to you in the form of a "non-bank ATM fee" or a "foreign ATM fee". Keep in mind that some banks waive this fee for particular checking accounts.

The second fee you may be charged is from the unaffiliated ATM itself. This fee usually goes to the maintenance of the ATM. Before you complete the withdrawal, the ATM will display how much it will charge you and ask you if you agree the amount. These fees are up to the ATM company and the store hosting the ATM.

These two fees added together might make an ATM withdrawal very costly. For example, say you withdraw $20 from an unaffiliated ATM. Your bank charges you $2.00 for the withdrawal and the ATM charges you $2.00. Now you've paid $4.00 for access to $20 if your money! That's 20% of the withdrawal! Unless you’re making a large withdrawal, it's often worth it to find an ATM from your institution or an affiliated ATM in your neighborhood.

Finally, an important clarification: When a bank offers you an account with a "no fee" ATM withdrawal policy, it doesn't mean you won't be charged for the withdrawal. It does mean that your bank will not charge a non-bank ATM fee, but the fee from the non-bank ATM itself will apply. Basically, "no fee ATM withdrawals" means "no fee...from us," but you're not granted immunity from all ATM fees.

Other ATM Fees

International Withdrawal Fees When you withdraw money from an ATM in another country, your bank will charge you a "conversion fee." This fee also applies to debit card purchases. This fee is similar to what you'd pay at an airport currency exchange desk. Normal conversion rates run from 1% to 3% of the purshase

notts uk
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9. Re: currency advice

wow thanks for the advice vlad1969! think we might just take some pounds and use exchanges as and when needed and take a credit card as back up as mine doesnt charge for using abroad

Aventura, Florida
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10. Re: currency advice

I do not know what is available in the UK, but in the US there are some debit card accounts that

1. do not charge AMT fees

2. reimburse ATM fees from other US banks

3. reimburse foreign (out of the US) ATM fees

4. do not charge a conversion fee

There are some credit cards that do not charge a conversion fee and for those that do it may be from 1, 2, 3% or more.

Those I know are: Debit: Capital One, Charles Schwab Bank (tied to savings or checking accounts)

Credit: Capital One, Charles Schwab Bank, Hyatt Visa

Contact each bank you have a credit or debit card with to find out their policies and tell them when and where you are traveling and check your expiration dates.