Русский
The suspension of Russian banks from SWIFT, and sanctions resulting in Amex, Visa and Mastercard withdrawal from providing services in Russia have made it difficult for foreign visitors to access their own money while in Russia. It has also made it difficult to remit money to Russia for payment of goods or services, or for family support. In this article we discuss the options.
Bringing Cash Into Russia
Foreign nationals may now bring foreign currency into the Russian Federation without declaration in an amount equivalent to US$10,000. With this amount you can pass through the green corridor at customs. More than US$10,000 dollars must be declared. In this case, choose the red corridor to pass the border. If you are carrying more than US$10,000 dollars, you will also need to fill out a declaration, and to present documents on the origin of the funds. Funds on a debit or credit card do not need to be declared, restrictions from the Russian Federal Customs Service apply only to cash.
MIR Cards
MIR is Russia’s version of Visa and is in common use throughout Russia. MIR cards are issued by banks in Armenia, Azerbaijan, Belarus, Kazakhstan and Tajikistan, as well as from banks in Laos and Vietnam. Other countries may also soon begin to make MIR cards available, including Egypt, Iran and Turkiye.
Troy Cards
Turkiye issues ‘Troy’ cards, their version of MIR, while virtual cards can be used by scanning QR codes for payment. This service is only available from Turkish banks however they can mail cards overseas once an account with a pertinent Turkish bank is established.
UnionPay Cards
UnionPay are the world’s largest issuer of credit and debit cards, and are based from China. UnionPay ATMs are becoming increasingly common in Russia. However, issuing Chinese banks are wary of incurring secondary sanctions and there may be restrictions.
QR Codes
Some Russian banks, such as MTS and VTB have card systems that will allow for payment through QR codes. This will become increasingly popular during 2025, however the initial problem remains getting the money into Russia in the first place. Assuming that can be done (such as bringing in cash) then foreigners may apply with pertinent Russian banks to open such accounts, deposit the cash and then be free to use their money in a more secure way as needed with the worry of always carrying cash about. However, this method also requires users to possess a Russian smartphone and user account, which can involve a laborious registration procedure. However, for regular visitors this would be a useful option.
Swapping Money
If you have friends or relatives in Russia who have business overseas, it might be a good idea to ask if they have any bills they need settling externally from Russia. If they do, and are trustworthy, then arrange to make their overseas payment on their behalf in return for receiving Rubles when you arrive in Russia.
Cryptocurrency
For this, the user needs to set up their own cryptocurrency wallet, which can be done in their resident country. Money then needs to be transferred into that. The most convenient option to then access this money in Russia is to use stablecoins such as USDT – its rate is pegged to the US dollar. Ethereum (ETH) is also popular, however you must use the cryptocurrency your wallet is set up for. It is then possible to exchange the crypto into Rubles when in Russia. Some crypto-exchanges in the West may request an invoice, in which case users can make to themselves and designate as ‘travelling expenses’ or so on. Digital assets can be exchanged for local currency through crypto machines or P2P platforms. However, be aware of high conversion fees (there is no need for a conversion to cost more than US$50) and the risks of cryptocurrency volatility if not using stablecoins.
Making payments in this way is also a good way to send money to recipients in Russia for goods, services, or family expenses – although the recipient will need to set up a crypto wallet in Russia. However, this is easily done. (If in doubt how to proceed, contact us)
Some vendors issue cryptocurrency cards. However, be aware that the value on these if bought into Russia carries the same limit as cash – US$10,000.
Under sanctions, the situation with different payment methods can change fast, with banks overseas not always being fast to react – but holding onto your money instead of sending it on to Russia where you need it. Before travelling, it is best to be certain that you will have funds available to you – before you arrive.
Further Reading
Russia Preparing For Crypto Transactions By 2025 In Foreign Trade
