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robomatique
Frequent Guest
Joined: 04 May 2005
Posts: 11
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 Posted: Sat Jul 09, 2005 7:55 pm Post subject: Traveler cheques and currency |
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Hello,
I am soon going to russia and I will bring traveller cheques (my friend works for amex and gives me great rate).
1. I am bringing appr. $5000 , so I guess I have to register the money but not pay anything for it?
2. I have had a look at banks and the charge of cashing the cheques, and on impexbank's webpage the following is said:
"Any face value 1.9%, If exchanged in rubles Free"
http://www.impexbank.ru/eng/services/travelers/index.wbp?&content_type=print
Does this mean that it is free if I change my USD cheques to rubles?
Thanks for any advice with traveler cheques!
Robert |
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overseas_expat
VIP
Joined: 11 Jan 2005
Posts: 741
Location: Moscow
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| Posted: Sat Jul 09, 2005 9:19 pm Post subject: |
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Good thing you have a friend who can help you with the travelers cheques. They're all but impossible to cash in this country and they're going to charge you a substantial fee for that transaction. Russians don't deal well with exchanging worthless pieces of paper for money. I would actually advise you too cool it on the travelers checques. They're just too hard to get rid of.
The best way to deal with the whole money situation here is to use an ATM card. Yeah, you get charged the user fees, but ATM cards let you get money when you need some so you're not always carrying big wads of cash around. And this is hard to avoid in a cash economy like Russia's. Pickpockets abound. Some of them are very very good at what they do.
Go with the ATM card at reliable indoor bank locations. Eschew outdoor machines and ones randomly found on the street or in the Metro. Don't bring $5,000 cash with you. Leave most of it in the bank at home, where it's safe. Easy on the travelers checks. We've been here 2 years and completely survive with using only the ATM card for cash. Almost never use credit cards. It works best. |
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cyndy22
Lounge Wizard
Joined: 15 Oct 2004
Posts: 1076
Location: massachusetts
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| Posted: Sun Jul 10, 2005 12:37 am Post subject: |
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| Overseaspat is right. Traveler's checks are not much good in Russia even in the big cities. I know because I brought them to St. Pete. and they were a pain in the ass to cash. Atm cards are the way to go. And definitly don't bring alot of cash with you. Use your atm card. |
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deskware7
Frequent Guest
Joined: 07 Jun 2004
Posts: 67
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robomatique
Frequent Guest
Joined: 04 May 2005
Posts: 11
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| Posted: Sun Jul 10, 2005 6:08 pm Post subject: |
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Thanks for great answers!
I already have the traveler cheques so I hope I can use them. I need all the money in cash at one time, so my card is useless (can't use it for a lot of money) and cash is no option. I guess the hassle of traveller cheques are better than the worries of bringin cash.
Here is some info that might be helpful for other travelers (note that I haven't tried yet, but the info comes from AMEX website):
AMEX cheques can be exchanged at some offices without any charges. There are two banks offering these services: Impexbank and Masterbank.
The adresses of these offices can be found thru AMEX website:
http://travel2.americanexpress.com/tcintl/feefreelocator/
Or directly from the bank's websites (both in english):
http://www.impexbank.ru/eng/index.wbp
http://www.masterbank.ru/eng/index.html
For all the help I have got here, at least I was able to give something back. I will try to write how it all went in a couple of weeks time when I am leaving.
Robs |
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renwan
Talk Show Host
Joined: 29 Oct 2004
Posts: 204
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| Posted: Sun Jul 10, 2005 9:39 pm Post subject: |
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| TC work only in Moscow and Leningrad shops...outside of there NO shop is going to accept them, you will need to go Bank by Bank..use credit cards,widely accpted. |
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