Expat Finance Services in Russia

The currency used in Russia, since at least the 16th century has been the ruble, even during the time of the Soviet Union. Bank notes are currently issued in the denominations of 50, 100, 500, 1000, and 5000 rubles. 10 ruble notes were replaced with 10 ruble coins in 2010.

In Russia, there is the central Russian Savings Bank as well as commercial banks, with several international banks such as Citibank in the largest cities such as St Petersburg or Moscow. Opening a bank account in Russia does not take long, it may require a letter from an employer, or simply ID such as a passport. Some banks have checking accounts with debit cards that can be used at Russian ATM machines to withdraw rubles. International debit cards can also be used, but there tend to be high withdrawal fees for using a card at another bank's machine.

A few Russian banks give credit cards to account holders but only if they have a perfect credit history. Credit cards are accepted at larger businesses in the major cities, but not smaller ones. The Moscow International bank even offers an English language version of their online banking website, and they offer euro, ruble or US dollar accounts.

See our guides

Basics of banking in Russia

Expat Finance Services in Russia

See our guides

Currency Exchange in Russia

Current Account in Russia

Offshore Savings in Russia

Expat Mortgages in Russia

Financial Advice in Russia

Expat Savings in Russia

QROPS in Russia

Online Broker in Russia

US Expat Tax in Russia

Tax Advisory in Russia