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Hints and tips
- This is largely cash market. Don't count on being able to
use your credit and ATM cards.
- Don't rush to change money. By changing money at the airport you'll lose
2-4% compared to
doing it in the center of the city.
- Get all the roubles you'll need before venturing outside of
Moscow.
- Bring crisp new bills. $100 notes are best. Don't
believe guide books that urge you to bring small change. These
instructions applied back in the hyper-inflation days (early 90s). (Yesterday,
October 24, 2003, we nearly starved on our way from Staritsa to Moscow
with two $20 bills that local merchants would not exchange into
roubles. They would however, accept $100 bills that are used for cash
savings and large purchases.)
- Don't bring exotic currencies.
US dollars and Euros only. US dollars only outside of Moscow and St.
Petersburg.
- Travellers Checks can be cashed in Moscow with some difficulty at
1-2%. Don't count on doing it elsewhere in Russia. Avoid them.
- Check your credit card statements carefully after doing any
transactions in Russia.
- Don't panic if you find yourself unable to make a cash
withdrawal. Often banks will suspend your card till you call them to
confirm that it is indeed you, the legitimate card holder, using it in
Russia.
- Don't worry excessively. I was pleased to be told by a
Toronto Dominion Bank representative that these days Canada is
considered to pose a higher credit card fraud risk than Russia.
Recommended bank
I've been dealing with AlfaBank on Pyatnitskaya
(see Zamoskvorechye page) for several years and
found the service satisfactory. It is within easy walking distance south
from the Red Square. Their ATM usually works, and cash
advances via the teller are 1.5% which is about as good as you are going
to get in Moscow. (Outside of Moscow expect to pay 3-5% for the same
operation, and to spend a lot more time.)
 
Alfa Bank,
Pyatnitskaya 40 branch.
Nearest Metro:
Novokuznetskaya and Tretyakovskaya. This is 15 min. walk from my
apartment that is available for rent. See
www.unclepasha.com/moscow_apartment.htm. You can also rent just a
place to stay for $25/person or $35/couple per night. See
www.unclepasha.com/dutch_loft.htm
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Dozens of money exchange places on Pyatnitskaya, the
main street of the vibrant yet cozy Zamoskvorechye district. Don't be
mislead by this picture above - it is the center of Moscow. You can have enough dollars in your
pocket and still end up in a fix when you travel outside of Moscow. I
once spent a night sleeping in the car and trying to keep myself warm by
the fire in the Novgorod region boonies in early April, at about zero, with a few hundred in my pocket, not being able to
check into a hotel in Novgorod.
Note Pyatnitskaya on your map. Most of
the things you'll need are there or on one of its side lanes.
Easy access from the
apartment
or room you
can rent from us, from the Rossiya
hotel, and from a bunch of smaller hotels being build in the Zamoskvorechye
neighbourhood formed by the loop in the Moskva river, opposite to the
Kremlin.
Changing money, getting subway card, cashing
travellers cheques etc. can be done as part of your
Moscow Orientation Tour.
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