PDA

View Full Version : best way to withdraw cash



AVL44
08-09-2011, 22:21
What's the best/cheapest way to get cash from an american bank account? Do certain russian banks have low ATM fees, or does it really make sense to open a Citibank acct? I'm thinking in terms of paying rent for the next year, which will require large cash withdrawals once a month... any advice would be appreciated.

DavidB
08-09-2011, 22:58
You can use a credit/debit card. The fees are determined by your bank in the US, not by the Russian bank. It's very rare for a Russian ATM to charge you any fees if you withdraw rubles.
This article (it's a few years old - 2009) gives you an idea about some of the better cards for use overseas: http://www.usatoday.com/travel/deals/inside/2009-05-21-best-overseas-credit-card_N.htm

Another option would be to open an account in a Russian bank and transfer US$ by wire to that account. You can hold USD, ruble and Euro accounts in most Russian banks. Your US bank would charge you around $15-$30 to do a wire transfer, but you could transfer as much as you like.
I've found UniCredit has the most competitive exchange rates: http://www.unicreditbank.ru/eng/index.wbp
They will open checking accounts for free and you can get a debit card linked to your rubles account for around $12 per year. You can use internet banking to exchange from your USD account to your rubles account without having to go to the branch. There are no withdrawal fees if you use UniCredit ATMs, and they have plenty of them in Moscow.

It doesn't make much sense to open a Citi account in Moscow, because they have terrible exchange rates.

ilya25
10-09-2011, 14:28
You can use a credit/debit card. The fees are determined by your bank in the US, not by the Russian bank. It's very rare for a Russian ATM to charge you any fees if you withdraw rubles.
This article (it's a few years old - 2009) gives you an idea about some of the better cards for use overseas: http://www.usatoday.com/travel/deals/inside/2009-05-21-best-overseas-credit-card_N.htm

Another option would be to open an account in a Russian bank and transfer US$ by wire to that account. You can hold USD, ruble and Euro accounts in most Russian banks. Your US bank would charge you around $15-$30 to do a wire transfer, but you could transfer as much as you like.
I've found UniCredit has the most competitive exchange rates: http://www.unicreditbank.ru/eng/index.wbp
They will open checking accounts for free and you can get a debit card linked to your rubles account for around $12 per year. You can use internet banking to exchange from your USD account to your rubles account without having to go to the branch. There are no withdrawal fees if you use UniCredit ATMs, and they have plenty of them in Moscow.

It doesn't make much sense to open a Citi account in Moscow, because they have terrible exchange rates.

And there are cash limits for withdrawals theey are usually smaller if a card of other bank is used. I agree with David -you need to open a bank account with a Russian bank and do wire transfers from abroad first and then withdraw money from Russian bank account

Remington
10-09-2011, 14:59
Use Citibank USA account. You can use Citibank USA debit card at any Citibank Russia ATMs and not pay a surcharge fees if you withdraw in USD. I do this all the time. You are allowed to withdraw $1000 limit per day. No need to open Citibank Russia account.

FatAndy
10-09-2011, 18:37
Much simpler. Just find a roaming bear, promise him a bottle of vodka and target to a bank office... :)

With a ski mask and a gun.

Remington
10-09-2011, 19:10
With a ski mask and a gun.

and 20 years in Hotel Gulag.