Moldova For Travellers
Moldova Banks & Money
There are few ATMs in Chisinau but none outside the capital city. Sometimes the Chisinau ones work and sometimes they do not, that is the problem. So do not rely on them. You may go to one and it has a black shade down saying not working in Romanian and it can occur just before you get to it. ie: after the previous customer you may see the window just close !!! It happens a lot. Always have at least two bank cards. Tourist find access to Citbank the best supported.
Cash is king in Moldova and you can easily change dollars or Euro, pounds not so easily. You can also change Romanian Lei and Ukraine Hyenda a lot of places. US dollars are accepted without conversion by quite a lot of businesses even taxis. But all along Stephan cel Mare (main street) there are money changers exhibiting their rates. The rates change around mid-day and people hang around waiting. The exchange rate is pretty well controlled by the government, so the rates are much the same. There does not appear to be any obvious black market for dollars as they are so readily changed officially, so if someone offers you some “deal” be suspicious. Declare large amounts on entering the country and make sure you get the stamped duplicate of your declaration or you may have trouble in taking any remaining cash out with you. This means amounts over $1000. If there for a while, you might like to open a bank account denominated in lei, dollars or Euro. Any moneys that you open this with and deposit in it MUST be declared monies or transfered in from abroad. You cannot, for example, withdraw money from an ATM, and use that as a deposit, even if you show the receipt.
There seem to be two categories of money– WHITE and BLACK–and you cannot conduct large official transactions with the latter. It must have been declared at the entry border, even if UNDER the allowable limit to import. Foreigners cannot have a source of income or money in Moldova unless they have a permit. You only need to show your passport to open an account. Foreigners are allowed to have bank accounts. Overseas credit card acceptance is few and far between, even by smaller hotels. However, the local debit card if you open a local account is more widely accepted.
Do not rely on travellers cheques. Take cash and declare it as well as at least two credit/debit cards. Make sure that the debit card for your bank is only that. If you use a connected credit card, the funds will nearly always be taken from your credit acount. ATMs do have language choices and the major banks all seem to have at least one English speaking teller. The Official language of Moldova is Romanian, not Russian, though much business is done in Russian as Russian descendents seem to control the economy.
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