Cheap car rental Ukraine - Special Circumstances

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Special Circumstances

SPECIAL CIRCUMSTANCES/BANKING: Ukraine is a cash economy. Travelers’ checks and credit cards are gaining wider acceptance in larger cities. Even in Kiev, however, acceptance of credit cards is not nearly as widespread as in the United States or in Western European countries. Expect credit card use to be limited to better hotels, upscale restaurants, international airlines and the rapidly growing, but still select number of up-market stores. Customs regulations prohibit sending cash, travelers’ checks, personal checks, credit cards, or passports through the international mail system. Customs authorities regularly confiscate these items as contraband.

Exchanging U.S. dollars into the national Ukrainian currency hryvnya is simple and unproblematic, as licensed exchange booths are widespread, and exchange rates are normally clearly advertised. Exchanging U.S. dollars into Ukrainian currency or other currencies is legal only at banks, currency exchange desks at hotels, and licensed exchange booths; anyone caught dealing on the black market can expect to be detained by the local militia.

There are many banks and licensed currency exchange booths located in major cities. ATMs (a.k.a. Bankomats) are becoming available throughout Ukraine, particularly in Kiev and in other larger cities. In smaller cities and towns ATMs are still virtually non-existent. Most ATMs disperse cash only in the local currency hryvnya. The difficulties of a currency shortage can be avoided by coming to Ukraine with a sufficient supply of hard currency to cover necessary obligations during travel. Funds may be transferred by wire; advances may be drawn on credit cards and travelers checks may be cashed at many locations.

Again, we emphasize that the incidence of credit card and ATM bankcard fraud is high and we strongly recommend that visitors and permanent residents of Ukraine refrain from using credit cards or ATM cards.