There are very few cash points (ATM’s for our American friends) in Ulaanbaatar (about 7 at my last count) and nearly all of them only take Visa cards. You can normally take money out from the banks themselves if you have Maestro or other cards but this involves a long process of filling in forms, having them approved at one counter, stamped at another and paid out at a third if you are lucky. Some banks are open 24 hours a day such as the Golomt bank near the Marco Polo restaurant.

 

Travellers cheques can be changed in most banks in the city. Most foreign restaurants, bars, hotels and service providers also accept payment by card. The preferred currencies in Mongolia are of course the national Tugrug and the US dollars, although Euros are becoming popular. Click on "read more..." to see a brief description of where all the known cashpoints are in Ulaanbaatar. Outside of Ulaanbaatar credit cards are useless and only cash is accepted, so leave prepared. Opening a bank account in Mongolia is relatively easy the Trade and Development Bank as well as Golomt are happy to help.