Thread: Studying at MGU and Credit Cards!!

Hello, In about a weeks time I will be moving to Moscow to study Russian Language at MGU for one academic year, I''ve been told that I should get a credit card for just emergencies but I was wondering which international banks are in Moscow? I've been considering HSBC, Barclays and NatWest, could anyone give me any advice?

If you have VISA you can pay for any purpose almost everywhere in Moscow.

What about mastercard?

Originally Posted by Caroline

Hello, In about a weeks time I will be moving to Moscow to study Russian Language at MGU for one academic year, I''ve been told that I should get a credit card for just emergencies but I was wondering which international banks are in Moscow? I've been considering HSBC, Barclays and NatWest, could anyone give me any advice?

Citigroup (Citibank) pops in mind.
Also, there are a couple of European banks like BSGV (France) and Raffeisen AG (Austria) - at least these banks work with individuals.

But if you have Visa, MC or AmEx - they can be issued by any bank - you won't have any trouble using them. There are plenty of ATMs you can get cash from.

I should advise you against cheques, though. I doubt anyone (except some banks) will accept them as a payment in Russia. And... this, of course, should be verified with a calculator, but I think it's better to convert USD into Euros first (while you're at home) and then buy Roubles with Euros in Russia (Euro's rate is raising while USD falls). A direct USD/RUR exchange may cost you more.

Wow, thanks for the advice Ramil. I've decided against getting a credit card for now, as I think they're probably more trouble than they are worth and there don't seem to be many (if any) branches of english bank's in Moscow.

You don't need an English bank to use a credit card. Do you mean debit card?

When I was in the Hermitage, I put my MC into an ATM in the lobby and withdrew cash in rubles. You should definitely get a card. What did you plan to do - store a couple of grand in your suitcase for the year?

Originally Posted by Caroline

Wow, thanks for the advice Ramil. I've decided against getting a credit card for now, as I think they're probably more trouble than they are worth and there don't seem to be many (if any) branches of english bank's in Moscow.

Get a card. It doesn't matter your bank has no representation in Russia. Visa or MC are accepted anywhere. Having a card is better than carrying a lot of cash with you.

My God, it's 2007... Get some plastic, debit or credit. Get it issued through your bank. Sit and have a nice friendly chat with your banker, tell them that you are a student and want a good rate if you decide on credit, you might get a few months at 0% interest. TELL THEM YOURE GOING TO RUSSIA SO THEY DON'T FREEZE THE ACCOUNT WHEN THEY SEE ALOT OF USE THERE !!!!

Also, ask what % rate you will be charged for foriegn use, 3% is the rate on my plastic.

If she's a student in London she will 100% already have a debit card. She's asking about credit cards. Visa is the most widely accepted worldwide, but you'd be fine with a MasterCard. It's Moscow, the world's most expensive city, paying for stuff is easy!

The bank with which the credit card is issued is irrelevant. A Visa from HSBC is the same as a Visa from Citibank.

Originally Posted by Caroline

Wow, thanks for the advice Ramil. I've decided against getting a credit card for now, as I think they're probably more trouble than they are worth and there don't seem to be many (if any) branches of english bank's in Moscow.

You don't need English banks.

I lived in Russia for a year. Use you debit card, put it in the ATMs (called bankomat in Russian), and withdraw Roubles. Easy as.

If in doubt, ask the Bivon.

Originally Posted by TATY

Originally Posted by Caroline

Wow, thanks for the advice Ramil. I've decided against getting a credit card for now, as I think they're probably more trouble than they are worth and there don't seem to be many (if any) branches of english bank's in Moscow.

You don't need English banks.

I lived in Russia for a year. Use you debit card, put it in the ATMs (called bankomat in Russian), and withdraw Roubles. Easy as.

Well, true, but you may find the exchange rate they'd use predatory

Originally Posted by Ramil

Originally Posted by TATY

Originally Posted by Caroline

Wow, thanks for the advice Ramil. I've decided against getting a credit card for now, as I think they're probably more trouble than they are worth and there don't seem to be many (if any) branches of english bank's in Moscow.

You don't need English banks.

I lived in Russia for a year. Use you debit card, put it in the ATMs (called bankomat in Russian), and withdraw Roubles. Easy as.

Well, true, but you may find the exchange rate they'd use predatory

Well if your in Russia for the year as a foreigner you have little choice. You can't take all the money you'll need for the year with you in dollars or euros and then exchange it when you get to Russia. So withdrawing from ATMs is pretty much the only way.

I think I'd trust the CitiBank ATM more than one of those exchange shacks on the street. There is only one letter difference between Обмен and Обман!