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Moscow - Banking

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Expatriates living in Moscow will find that there are a wide range of choices when it comes to banking. There are numerous banks in Moscow that cater to English speaking clients, with branches throughout the city. English speakers will find that there are quite a few international banks represented, so they will likely recognize familiar names.

Russian banks gained an outlet to the stock market in 1991, giving you easier access to investing opportunities.

Although the freezing of personal accounts is infrequent, the possibility exists, particularly in times of national financial crisis. For example, in 1998, during the Russian Financial Crisis, private accounts at several Russian banks were frozen for a period of one month. During that time, account holders were given the option to transfer their funds to the Sberbank at the rate of 9.33 Rubles per United States dollar.

Expatriates typically select international banks with branches in Moscow. If possible, it is safer to establish an account before moving to Russia's capital city, to avoid the steep learning curve involved with learning Russia's unique and developing banking system.

If you don't want to take the time to open a bank account in Moscow, or to establish your account at a Moscow branch of an international bank, you can still use your ATM card from your home country to withdraw money from ATMs in Moscow. Keep in mind, though, that services fees for these are high compared to other countries such as the United States.

Here are a few of the English speaking and international banks that are popular with expatriates:

American Express Bank Ltd.
Telephone: 933-8448
Address: Usacheva ul, 33, Str. 1
Website: www.americanexpress.ru

Bank of Moscow
Telephone: 105-8000
Prospekt Mira, 120, str. 1
Arbat ul., 51, str. 1
Karetny Ryad ul., 5/10
Bolshaya Nikitskaya ul., 33, str. 1
Website: www.en.mmbank.ru

Telephone: 775-7575
Sadovaya-Chernogryazskaya ul., 13/3, str. 1
Tverskaya ul., 6
Novy Arbat ul., 11/1
Website: www.citibank.ru/russia/main/eng/home.htm

Deutsche Bank, Ltd.
Telephone: 721-3160
Address: Novaya Ploshad, 10
Website: www.dzbank.com/

Telephone: 721-1515
Address: Paveletskaya pl., 2, str. 2
"Paveletskaya Plaza", 18 floor
Website: www.hsbc.com

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