One of the most challenging aspects of planning overseas trips for Russians is managing financial transactions, financial consultant Tatiana Volkova told “Gazeta.Ru.”
According to Volkova, the most universal currency for travel remains the US dollar. Despite the lack of major changes in the global economy, even if they begin, the transition will be gradual. However, it is essential to consider the destination country: for China, the yuan is preferable; in Europe, the euro; and in the UAE, the dirham.
Volkova highlighted that it is optimal to purchase currency gradually if the trip is planned in advance to achieve an average exchange rate. Travelers can also monitor exchange rates and buy currency during corrections if they have the time and inclination.
Russians traveling abroad should acquire a foreign bank card. Visa and Mastercard issued in Russia are no longer accepted abroad, and the Mir payment system only works in a few countries: Belarus, Armenia, Kazakhstan, Vietnam, and Cuba. The best option for travelers is to open accounts in foreign banks. The most convenient are banks in Armenia and Kazakhstan. Such cards work worldwide and can be obtained through intermediary banks or financial consultants without leaving the country. Transferring money to these cards is straightforward, the expert explained.
She also recommended always carrying cash due to potential issues like lack of internet or card malfunctions.
Additionally, setting up a cryptocurrency wallet can be beneficial. Today, many countries around the world have crypto exchanges, Volkova concluded.
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