How To Buy Russian Rubles Online and Know Its Not a Scam?

Prior to the sanctions placed on Russia and its banking system, banks and currency exchange operators in the UK, EU, and around the world could easily exchange your home currency into Russian rubles (RUB). Until recently, Profee was the only money transfer provider offering international transfers to Russia from the EU/EEA and the UK. However, increasing regulatory pressure seems to have even squeezed them out of the market recently. Some people prefer to buy half of their Russian rubles as soon as they’ve booked their holiday, and the remaining half just before they depart. This can be a good way of maximising your holiday money if the exchange rate continues to rise after you’ve bought, but will also help to minimise your losses if the rate drops.

As with most online businesses, there is no shortage of scammers trying to run a fake online exchange and earn some easy money. Another option is to transfer money from your debit or credit card to a Visa or MasterCard that works in Russia. The clearest way to buy Russian rubles is to present foreign currency to banks, hotels, and exchange bureaus within Russian borders. This option is, of course, limited only to those who are eligible to enter the country. Compare our rate and fee with our competitors and see the difference for yourself.

Compare Russian ruble travel money rates

We carry out stringent and regular checks on the companies that feature on our website, but even so we cannot guarantee their solvency. Please conduct your own due diligence before transacting with a company, and pay by card wherever possible as cards offer more financial protection than paying by bank transfer. There’s no evidence to suggest that you’ll get a better deal if you buy your Russian rubles in Russia.

1. By ordering online you’re guaranteed to get the online rate and you can collect your order from the store as usual.
2. If you are one of these people, we’ll expand on your options in this article and give a few pointers for avoiding scams.
3. The 200 and 2000 rubles bills from the new series have been released and these are circulating alongside the banknotes issued since 1997.
4. A writer and editor at Monito, Jarrod is passionate about helping people apply today’s powerful finance technologies to their lives.
5. Our currency rankings show that the most popular Russian Ruble exchange rate is the RUB to USD rate.

But if you’re not a big reader, here’s the easiest option – you can buy rubles from US First Exchange and have physical currency delivered to your door. You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe. Debit cards are the most popular payment method and they offer some financial protection. If you pay by debit card and the company goes bust, you can instruct your bank to make a chargeback request to recover your money from the company’s bank.

Some of the best travel money deals are only available when you buy online. By using a comparison site, you’re more likely to see the full range of deals on offer and get the best rate. However, most branches of banks and credit unions usually only hold major and popular currencies, so more exotic currencies like the ruble need to be brought in from other locations. It can take about a week from the moment you order to the moment you can pick up the currency.

This isn’t a legal right, and a refund isn’t guaranteed, but if you make a chargeback request your bank is obliged to try and recover your money. If the company goes bust and you’ve paid by bank transfer, it’s unlikely you’ll get your money back. For this reason, we recommend you pay by debit or credit card wherever possible because they offer more financial protection. Don’t expect to be able to pay by credit card at every online exchange. Some only accept cash or checks, while others may only do wire transfers.

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One Russian ruble (₽) can be subdivded into 100 kopecks (k). You could also consider signing up to our newsletter and we’ll email the latest rates to you each month. There are no currency restrictions for importing currency into Russia, but travelers are advised to declare currency on arrival in Russia. Overall, the cost of living in Russia is 41% lower than the cost of living in the UK. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.

The bi-metallic 10 ruble coin exists in several different commemorative versions. Our sister company Leftover Currency can help you to exchange Russian Ruble coins back to cash. https://www.bitcoin-mining.biz/ Live tracking and notifications + flexible delivery and payment options. It is likely that at the time of your search, no service can carry out your transfer to Russia.

The price of the Russian currency could continue to drop even more, which could make your holdings even less valuable. If you weren’t familiar with the Russian economy before its war with Ukraine, it may be best to wait to purchase the currency. Russia’s Moscow Stock Market is closed for the second straight day, and Russian stocks have fallen https://www.cryptonews.wiki/ nearly 50 percent in the past week. The ruble is tied to the Russian economy, so the steep price drops in Russian stock, securities, and currencies are linked back to the Russia-Ukraine war. Financial institutions and analysts have recommended that retail investors don’t attempt to purchase Russian stocks in the hope of making a quick profit.

If you were able to purchase rubles, they can be thought of as an investment if you hold them in an online foreign exchange account. You could exchange the rubles back to dollars when the value goes up. The physical currency could also potentially be valuable if you plan on visiting Russia and spending the local currency there, assuming https://www.crypto-trading.info/ the value goes up by the time you visit. A professional online exchange should only use the latest and most secure payment processing software. Plus, they should offer full-value insurance for every package they send. When you are thinking of exchanging money online, your first step should be to find out if an exchange is legitimate.

When You Buy Rubles Online, Can You Get Physical Currency?

We’ve said it at the beginning and we’ll say it again – the best way to buy Russian rubles online is from US First Exchange. We have the industry’s lowest spreads and accept multiple payment methods – by credit card, bank draft, or money wire. When time is of the essence, banks and credit unions are not the best option. Additionally, banks typically charge high fees for exchanging exotic currencies. On the plus side, banks check the authenticity of every banknote they buy and sell, so you don’t need to fear that you will receive fake notes.

Since the implementation of the sanctions, however, the ruble has become a very volatile currency and few countries now do currency exchanges to and from the ruble. If you’re travelling with others, consider placing one large currency order instead of buying individually. Many currency suppliers offer enhanced rates that improve as you order more. Manor FX offers fast delivery times and a fuss-free online ordering process for your Russian ruble travel money. These are the average exchange rates of these two currencies for the last 30 and 90 days.

Learning How To Check if an Exchange Is Legitimate

We’ve talked about how to buy Russian roubles, but let’s go a bit deeper and ask – why? If you are looking to buy rubles for speculative reasons, hoping to make a profit, know that the ruble is a very volatile currency and you should have in-depth knowledge before you start trading. To learn everything you should know, you can read our ruble guide. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. Russia is in the process of issuing a new series of banknotes. The 200 and 2000 rubles bills from the new series have been released and these are circulating alongside the banknotes issued since 1997.

These are the highest points the exchange rate has been at in the last 30 and 90-day periods. Along with restrictions and bans on trades involving the ruble, the Bank of Russia reportedly raised interest rates to 20 percent on Feb. 28 from 9.5 percent, according to The Wall Street Journal. The New York Stock Exchange and Nasdaq both announced that they have suspended trading of various Russian stocks. MasterCard, Visa, and other card payment systems have suspended operations in Russia, meaning that MasterCard and Visa cards issued outside of Russia will not work at Russian ATMs or vendors.

Our product comparisons are completely unbiased and we never allow companies to pay to be at the top of any results. Instead, some companies pay us a small commission for referring customers to them which helps to fund our costs and keeps our service free to you. This does not affect the quotes you receive or the price you pay. Keep an eye on the latest exchange rates by signing up to our monthly newsletter and we’ll email the rates to you each month. Sending money to a company you might not have heard of before can be unsettling.

Just remember to buy or reserve your Russian rubles first before you collect them from the store so you benefit from the supplier’s better online rate. The Russian ruble exchange rate has also faced dramatic volatility since February of 2022. Many stores set their ‘walk-in’ exchange rates lower than their online rates because they can. By ordering online you’re guaranteed to get the online rate and you can collect your order from the store as usual. Credit cards offer full financial protection, and your money is protected by law under Section 75 of the Consumer Credit Act. Section 75 states that your card issuer must refund you in full if you don’t receive your order.