What is the local currency?
The tugrik.
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What denominations does it come in?
10, 20, 50, 100, 1,000, 5,000, 10,000 and 20,000.
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What is the best way to exchange currency?
The best way is to go to banks and other foreign currency exchange places.
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What are commonly-used forms of payment for everyday purchases (such as groceries)?
You will need cash for everyday purchases, like groceries, and for transportation, like buses and taxis.
Nicer restaurants, department stores or tourist attractions will accept credit cards.
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Will I be able to use my credit card around town? If not, list when I’ll need cash.
Yes, MasterCard, Visa, American Express, JCB and Diners Club are widely accepted in public places.
You can also get cash from local banks using your credit cards, but processing fees may be charged.
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By what method are bills (such as rent and utilities) paid?
Bills can be paid by cash or by phone.
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What are the requirements for opening a bank account? At what stage of the settling-in process should I open it?
Your passport, ID card and employment letter should be sufficient for opening a bank account.
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Will foreign residents be able to find banking services in their native languages?
English banking services are available. In addition, Russian, Chinese, Korean and Japanese services are also available upon request.
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Are there any restrictions on services for those who are new to your country?
None that are known.
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What are typical banking hours?
Generally, banks are open from 9 a.m. to 5 p.m., Monday through to Friday. In addition, 24-hour online banking services are also available.
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Are automatic teller machines (ATMs) available around the clock?
Yes, but there are very few machines around the city.
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Is there any other money information that might help me?
American Express Traveler’s Checks are also widely used.
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Crown Relocations has made every effort to present accurate information. However, regulations, rates and other variables are subject to change and Crown Relocations cannot accept responsibility for the errors that might result. Should you have any questions or need additional information, please contact your local Crown representative.