bringing in money to Ukrain

[Ramus]

How much cash can you bring into Ukraine w/o declaring?  I read conflicting reports, one says that you can bring 1,000usd and another says 3,000usd.  I know there are ATMs everywhere but there are also withdrawal limits.  Since pretty much all my expenses will be cash based, I'll have to bring in $$$.  Just paying for 2 wks apartment can eat up the 1K.

[ScottinCrimea]

The new limit is $3000.  Depending on your bank, you can withdraw up to $500 a day using ATM's.  Are you really planning on spending more than that?  Just be sure you let your bank know before you go so they won't freeze your account due to suspicious overseas activity.

[May First]

atm card

[Kuna]

Don't take a big wad of cash - it's freaky finding somewhere on your body to hide it!   

Take SOME cash, use ATMs - BUT when using ATM's take out big chunks because the fees are high (i.e. don't withdraw 200 or 300 per day.  Take outthe maximum amount when you need cash and you'll save on fees.

Oh, and DO report your trip and use of ATM's to your bank at home before leaving otherwise they may bar your card. 

[AW5724]

Dear Kuna,

I arrived in Ukraine and only bought $1,000 which I now regret. I did it becuase under $1k you do not have to declare to customs, between $1k & $3k you have to declare to customs but OK to bring in. If you do declare make sure that you get sums right as I had a bad experience once at Borispol where amount declared was slightly different to amount carried even though it was under $3k. There is also an issue if you take out more then $1k in cash but I do not know what happens if you do.

Yes ATM's work fine but I find myself going daily to the ATM and withdrawing maximum amount every day which is ineffecient and uncomfortable. Also what happens if my bank card is lost ?

Everything is very cash focused and have not used my credit card at all yet.

Definately let bank know, I was in Russia once trying to explain to bank fraud department (which was in India) over a bad line that it was me using my card, they did unblock but it was 24 hrs later.

I suggest bringing in $2k (depending on stay) and on first day using ATM to make sure your card works,

Andrew

[Ramus]

No I wouldn’t need more than $3K, if in fact that is the limit.  $1K however, is not enough.  Just paying the 2 weeks apartment and transportations can easily wipe out the $1K.  Sure there are ATMs, but I rather not have to hit the ATMs every freaking day.  Also, as a member pointed out, what if you lose the ATM card?  I actually had this problem during one of my trip.  One machine ate my card.  The bank there couldn’t do anything about it, so I just called back to U.S. to cancel my card, then had them send me some cash through WU.  It was a major pain that took up most of my day.  So I think some combination of cash carry-on and ATM is best plan.

I usually don’t like to bring a lot of cash when traveling.  Typically would just use credit cards at big establishments, like hotels, and use cash for small expenditures like taxi, food.  However, some countries, like Ukraine, are still very much cash based.  I don’t think the apartment owners will take credit cards… nor would I want to use it.

Yes, notifying the bank about your travel plan is highly recommended.  I’m a seasoned traveler and I always advice my credit card and bank before I travel.  Otherwise you risk them freezing your account because they may consider your overseas transactions “suspicious”.

[ambach123]

Are trevellers' checks as good as cash?

[groovlstk]

Are trevellers' checks as good as cash?

Not only are traveller's checks worthless in 99% of places, you'd better make sure your USDs are wrinkle-free and without the slightest imperfection 

[ambach123]

Can't we convert the travelers' checks into local currency at the banks?

[wxman]

Not only are traveller's checks worthless in 99% of places, you'd better make sure your USDs are wrinkle-free and without the slightest imperfection 

Change the words traveller's checks to the word dollars and that holds true too 

[Misha]

Can't we convert the travelers' checks into local currency at the banks?

Do they still have exorbitant fees to change traveler's checks in Russia? Last time I knew someone changed some (7 or 8 years ago) they charge a 6 or 7% commission. I would vote for a bank card. Then, there is the option of getting cash from a credit card. Just keep the two in different locations and the odds of losing both would be quite minimal.

[Ramus]

Travelers Checks may be fine in western countries, but they're not well accepted in places like Ukraine.  My opinion, you're better off with cash, an ATM card and a credit card.

[apple47]

      Maybe stupid and certainly expensive,but,couldn't you WU money to yourself before you leave?  Should get you around any limits at the border if you need more than $3k.



                                                             ...Larry

[Doll]

Atm card is the best I think. If you think it can be eated by ATM- open another account and you'll have two cards.
Another option is to go inside the bank and withdraw money through the bank terminal. Just have ID with you.

[Lit_1nce]

From what I gathered from a google search.. You can cash travelers checks at the bank in Ukraine.. for a 1 to 4 percent charge.. It appears that you will also get this kind of charge from your bank anyway when using the ATM.. Visa cards are apparently even worse than regular debit cards.

A good idea, with a bad execution is the Visa Travelmoney Card  which is basically a re-loadable debit card. You can load it with different currencies.. but when you convert to a different currency you get dinged 7 percent.. so if you load it with Euros and only spend Euros your in good shape, but load it worth of Euros or Dollars and then withdraw a different currency you get dinged..

As a second account you might consider a paperless checking account, like a Citibank Access account, or Ing Electric Orange. I think Ing's account also earns interest.

To me it seems that either several debit cards, or travelers checks would be your best bet.

[TwoBitBandit]

On my first trip to the FSU I brought American Express traveler's checks.  Big mistake, I spent half a day trying to find a bank to exchange them and I had to pay 5% to do it.

[Misha]

Another advantage with using an ATM or credit card is that you get better exchange rates. If you use travelers checks you get dinged three times: you pay a fee when you buy them, you pay the fee/commission to cash them in Russia and you lose more money when  you exchange your cash from the checks for rubles. Hardly a cost effective method.

[Lit_1nce]

Both the Citibank Access account and Ing Electric Orange accounts have $1000 daily ATM cash withdrawal limits. (although the ATM machine may have it's own limit, meaning multiple withdrawals)  The Citibank account has a spending limit of $5000 per day, but of that only $1000 can be cash..

And just for fun.. I found this, that might be helpful.. a Citibank office in Ukraine.


JSCB Citibank (Ukraine)
16G Dymytrova Street
Kyiv 03150
Ukraine

[Pike]

The topic of this thread reoccurs periodically, along with the incorrect info posted by well meaning persons.

People are always backing up their assertions by declaring that they have done such and such several times and have had no problems.  Well, I know a guy who has claimed his dog as a dependent on his tax return for over 20 years and has not yet been called on it.

First, there is a difference between what are limits concerning money brought into a country and limits concerning money taken out of a country.  It is usually the taking out situation that causes problems.  The main need for declaring incoming money is to insure that you are covered if you take out money in excess of the outgoing  'declaration free' limit.  The limits are subject to change, so always look to the official government sites before you go.

Second, ATMs are NOT the way to go in FSU.  The system is rife with scams.  These are not the simple scams such as sleeves in the ATMs, etc.  The scams occur within the banking system perpetrated by the bank employees.  The financial people together with computer jocks capture your account numbers, PIN codes, etc.  Then they manufacture new plastic ATM cards and are off to the races.  So it does no good to 'make sure you use ATMs inside good hotels, inside bank lobbies, etc.'

I and several of my business associates have been the victims of such scams.  Some of us have gotten reimbursed by our banks, some of us have not.  Several have had their ATM cards cancelled by their banks when the banks learn of travel and usage in FSU.   You haven't had any problems you say . . . well my friend says he hasn't had any problems with deducting his dog either.

Third, WU will not let you send money to yourself.  A bit screwy sounding, but there is some reasoning behind it.

In short, after several years of using ATMs,  I now abstain from them.  I have toyed with the idea of setting  up a bank account separate from my main account  and then transferring money into this account to be withdrawn from ATMs in FSU.  I had thought that this would put a limit on my losses.  However, upon discussing this with bankers and reading the fine print, I am still legally on the hook if the banking system (anywhere) pays out more from my account than it actually has in it.  This also applies to the prepaid cash or debit cards that you can put  money on.

For my most recent trip, I did something entirely new for me.  I went through the (very long) process of learning how to wire transfer money from my bank account into the bank account of a trusted FSU friend.  Obviously, not many of you would want to be doing this for many moons with your new friends.

But, I found that this would not work after I was in FSU.  The reason being that my USA bank had about 5 levels of security that I had to pass through to complete the transaction.  Level 4 involved a pop up message (after I did all  the on line input) saying that I must call an 800 number to complete the transaction.  Level 5 (on a random basis they told me) involved the actual wire transfer department people calling me to my USA listed phone number to verify (for 5th time) that I was really who I was supposed to be (asking me the questions about my first school, my favorite sports team, etc.) and that I really wanted to do it.

So, I still carry much cash with me . . . like $3000 to $4000.  I put about 95% of it into new crisp 100 dollar bills that have no marks at all.  This in itself takes a lot of time and peeeed off bank tellers to accomplish.  Then I put the bills into a money pouch that goes around my middle chest area between undershirt and outer shirt.  A good place to also keep your passport, credit cards, ATM cards, etc.  Yes, I carry some credit and debit cards for use in emergency and for when I travel within western countries.  And yes, of course, fraud can occur in western countries.  But talk to people at major banks and they will tell you the % fraud in FSU areas is like 10 to 20 times what it is in the west . . .  particularly the fraud that occurs within the banking systems themselves.

[Pike]

And just for fun.. I found this, that might be helpful.. a Citibank office in Ukraine.

JSCB Citibank (Ukraine)
16G Dymytrova Street
Kyiv 03150
Ukraine

I  have a CITI account (among others) and I also learned  of this office.  However, it is not helpful for individuals.  They only have corporate service.  They are not licensed to handle retail business.

[ScottinCrimea]

Pike, your experience is so drastically different from my own that I felt that I had to respond.

I have used ATM's in Ukraine for over 6 years including the two years I lived there and now our daughter uses them to withdraw funds on a weekly basis. Not ONCE has there been any problems whatsoever.  No machine ever ate the card, no one ever defrauded, no scams were perpetrated.  I would consider the risks of using an ATM much smaller than that of carrying $4000 around on me.

As for wire transfers, I had none of the problems you claim.  Several times I wired considerable sums of money to my wife's FSU account for a flat fee of $35-$50.  She was able to withdraw it on her end with no problems.  I don't know what the heck you are talking about with all of these levels of security, but I'm sure the amounts that I wired were much higher than yours and it was pretty much a straightforward transaction.  I know some who have set up their own account in a Ukraine band and then wired money from the US to this account, and they also haven't had any problems.

I keep hearing stories on this forum of those who have had bad experiences or know of someone who has, and I'm sure at least some of these situations have occurred, but in all honesty, I have never heard of a single such bad experience from any of those I am acquainted with who travel to or live in Ukraine.

Most of the banks in Ukraine have international ties and have the customary checks and balances, so I don't believe there is an institutional pattern of fraud.  There may be specific branches or employees who are not on the up and up, but if found, they are dealt with rather quickly as these banks can't afford to have their integrity questioned.

[Misha]

I have to concur with Scott on this one. I have used ATM cards across Russia for years without any problems. It does not mean there hasn't ever been problems, but I will second Scott in saying that it was never a problem for me.

[kryten41]

For those of you that take cash and exchange it for local currency, do the money changers accept $100 bills, or do you need to take smaller denominations?  I am going to Ukraine (Simferopol and Yalta) next week, and need to get my cash soon. I would prefer to take $100 bills instead of smaller denominations because they will be less bulky.
Thanks

[ScottinCrimea]

$100 bills are not a problem.

[Ooooops]

Another advantage with using an ATM or credit card is that you get better exchange rates.

That's right.   We always use ATM wherever we go.   Well, in most places anyway...