Money & costs
You won’t have to go far to change cash or travellers cheques, or get a cash advance on your credit card. Many banks in central Ulaanbaatar even offer 24-hour services. The bigger hotels also offer exchange services for their guests. Avoid changing money with street dealers at the markets: the rate is only slightly better than at official moneychangers and you run the risk of being cheated.
ATMs are popping up in many places including the lobbies of the Ulaanbaatar, Bayangol and Chinggis Khaan hotels, as well as department stores and supermarkets.
Both Golomt and Trade & Development Bank (T&D Bank) will allow you to receive money wired from abroad. It will cost the sender US$50 to wire any amount of money; there is no charge for receiving cash. For general information on money.
Golomt Bank (330 436; 24hr) Around-the-clock banking services. Changing travellers cheques into tögrög carries a fee of 1.5%. You can get a cash advance with no commission on Visa or MasterCard. There are six branches around town, including Seoul St and just south of the corner of Juulchin Gudamj on Baga Toiruu.
Khan Bank (456 154; cnr Sambugiin Örgön Chölöö & Baga Toiruu; 24hr)
Mongol Shuudan Bank (310 103; Kholboochdiin Gudamj 4; 9am-1pm & 2-4pm Mon-Fri)
State Department Store (Peace Ave 44) Also has exchange booths.
Trade & Development Bank (T&D Bank; 327 095; 9am-4pm Mon-Fri) Travellers cheques are changed into tögrög with a 1% fee or into US dollars with a 2% fee. For foreigners, the place to do business is on the 2nd floor of the main branch on the corner of Juulchin Gudamj and Baga Toiruu. Here you also get a cash advance on your credit card; MasterCard carries a 4% commission, Amex and Visa are both commission-free. The bank will also replace lost Amex travellers cheques. A second branch is located on Peace Ave, opposite the Ulaanbaatar Hotel.
Valiut Ariljaa (Baga Toiruu west 8.30am-9pm) There are several exchange offices on this square, known by locals as Ard Kino. The exchange offices here have some of the best rates in town.