Mongolia is a unique and exciting place to visit, with its huge steppes, nomadic culture, and amazing natural beauty. From Ulaanbaatar, the busy city, to the Gobi Desert, which is far away, and Khuvsgul Lake, which has beautiful scenery, you need to know how to get cash. In cities, there are ATMs, but in rural places, cash is still the main way to pay. Along with information on withdrawal fees, transaction limits, exchange rates, and card acceptance, this guide tells you everything you need to know about cash and ATMs in Mongolia so that your trip goes smoothly.
Where to find ATMs in Mongolia?
In Ulaanbaatar, the capital city, ATMs are widely available, especially in city centers, shopping malls, and near bank branches. Major banks such as Golomt Bank, Trade and Development Bank (TDB), Khan Bank, and XacBank operate extensive ATM networks throughout the city.
Popular destinations like Sukhbaatar Square, the National Museum of Mongolia, and the Gandan Monastery in Ulaanbaatar have ATMs nearby. Many hotels, restaurants, and shopping centers in these areas also provide ATM services.
In smaller towns and rural regions, ATM availability can be limited. While banks like Golomt Bank and Khan Bank have branches in some provincial centers, it’s advisable to carry sufficient cash when traveling outside major cities.
Best ATMs to use in Mongolia for foreigners
The best ATMs for foreigners to use in Mongolia are those owned by popular banks such as:
- Khan Bank
- State Bank
- Capitron Bank
- Golomt Bank
There are other banks with ATMs that also accept international debit and credit cards.
There are no known Global ATM Alliance member banks or All Points network banks in Mongolia.
Don’t accept conversion at ATMs and withdraw only in local currency
In Mongolia, some ATMs may ask you to accept or decline conversion (also known as with or without conversion, or charge in MNT).
- If you ‘Accept’, the ATM converts your money at its exchange rate and charges an extra fee.
- If you ‘Decline’, the conversion is done at your bank’s exchange rate without additional fees.
To avoid extra fees, always select ‘Decline/Without’ Conversion or ‘Charge in MNT’.
ATM opening hours
Free standing ATMs in Mongolia usually operate 24/7. They are usually branded as “ATM”.
What currencies can I withdraw from ATMs?
ATMs dispense cash only in the local currency, Mongolian Tugrik (MNT).
ATM withdrawal limits in Mongolia
ATMs in Mongolia have a maximum withdrawal limit per transaction of ₮ 400,000 to ₮ 800,000, most common being ₮ 500,000 (Mongolian Tugrik ₮).
ATM Fees in Mongolia
There are no fee-free ATMs in Mongolia. Bank ATMs in Mongolia typically charge ₮ 500 per transaction as ATM Access Fees to foreign card holders.
Apart from ATM Access Fees, there can be other potential charges to withdraw cash in Mongolia. These are:
1. The ATM’s Currency Conversion Charges (Accept or Decline Conversion)
2. Your Bank’s currency conversion Charges (check with your bank what they are).
How to avoid high fees when withdrawing cash in Mongolia
- Use the lower fee ATMs in the country.
- Use the ATM Fee Saver app to find fee-free or low-fee ATMs.
- Opt for Decline Conversion or Without Conversion during ATM transactions.
- Consider getting fee-free cards from your home country.
- Avoid using ATMs at the airports, sometimes they have higher fees
Ways to find fee-free ATMs in Mongolia?
Discover fee-free and low-fee ATMson the ATM Fee Saver mobile app for iOS and Android. This app provides ATM PINs and details of leading bank ATMs such as ATM fees and withdrawal limits for foreign cardholders at ATMs in Mongolia. Moreover, its simple fee calculator helps you decide exact withdrawal charges. You can also find cash tips and tricks on the app for 100+ countries including Mongolia.
Safety at ATMs
Mongolia is considered a safe destination for travelers, and ATMs are increasingly available, especially in urban areas like Ulaanbaatar. While specific incidents related to ATM usage are not commonly reported, travelers should remain vigilant, particularly in crowded places. It’s advisable to use ATMs located in well-lit, populated areas or within bank premises to minimize potential risks. Don’t display large amounts of cash after withdrawals and check your bank statements.
FAQs
What to do if an ATM takes your card?
If an ATM in Mongolia retains your card, contact the bank branch for retrieval with proof of identity. Alternatively, call the bank’s helpline, but they usually assist only their own customers. In that case, ask your bank to issue a new card sent to your home or abroad.
Fee-free ATMs and possible to withdraw cash free of cost at ATMs in Mongolia?
No, there are no fee-free ATMs in this country. Bank ATMs typically charge ₮ 500 per transaction as ATM Access Fees to foreign card holders.
Foreign cards from US, UK, India, China, Europe, Australia accepted?
Absolutely yes! You can usually use cards from the US, UK, Europe, Australia, and other countries at ATMs.
Bitcoin ATMs
As of now, there are no known Bitcoin ATMs operating in Mongolia. Coinhub has announced plans to expand their Bitcoin ATM network to cities like Ulaanbaatar and Dalanzadgad at some point.
Foreign bank ATMs’ presence in Mongolia
Bank of America: No, there are no Bank of America ATMs here.
Citibank: No, Citibank does not operate ATMs here.
Barclays: No, Barclays does not have ATMs here.
HSBC: No, HSBC does not operate ATMs here.
Standard Chartered: No, Standard Chartered does not have ATMs here.
