💰 Quick Context: The Mongolian Tugrik
Mongolia uses the Mongolian Tugrik (MNT / ₮). A coffee costs ₮5,000-10,000, a restaurant meal ₮15,000-40,000, and a hotel night ₮80,000-300,000. Quick math: roughly 3,400 MNT = $1 USD. Think "divide by 3,400" or approximately "1,000 MNT is about $0.30." Mongolia is very affordable. Ulaanbaatar has growing card acceptance, but the countryside (where most tourism happens) is almost entirely cash-only.
🎧 Order Mongolian Tugrik Before You Fly
Have cash in hand when you land. Insured delivery, 2–5 day shipping.
Order MNT → CEI Currency ExchangeCash vs. Card: What to Expect in Mongolia
Mongolia is a heavily cash-dependent country, especially outside the capital. Ulaanbaatar is modernizing quickly, but the vast countryside where travelers spend most of their time runs almost entirely on cash. Hotels, restaurants, supermarkets, and shops around Sükhbaatar Square and the tourist district in Ulaanbaatar generally accept Visa and Mastercard.
Cash is essential for: ger (yurt) camps, horse trekking, countryside transport by shared jeep or minivan, markets like Narantuul (the "Black Market"), most restaurants outside Ulaanbaatar, nomad family visits, and national park entry fees. If you are heading to the Gobi Desert, Khövsgöl Lake, or any rural area, bring all the cash you need from Ulaanbaatar. There are virtually no ATMs outside provincial capitals. For countryside trips, budget your entire trip expenses in cash plus a generous buffer. USD cash is useful as a backup and accepted at some tourist ger camps.
How to Get Tugrik for Your Mongolia Trip
Mongolia uses the togrog/tugrik (MNT) as a closed currency: it cannot be ordered from US banks before you fly. Cards work in Ulaanbaatar at the Shangri-La, Blue Sky, Best Western, Edelweiss, supermarkets (Nomin, GS25), and chain restaurants near Sükhbaatar Square. Almost everything outside the capital runs on cash: ger camps in Térelj and the Gobi, Khövsgöl Lake guesthouses, shared jeeps, horse-trek operators, the Naadam festival vendors, Narantuul (Black Market) stalls. The cleanest path is to withdraw or exchange all the tugrik you need in Ulaanbaatar before heading to the countryside.
Bring USD cash before you fly
Tugrik is closed-currency, so US banks (Bank of America, Chase, Wells Fargo, Citi) do not stock MNT. A currency-exchange service like CEI Currency Exchange can ship USD to a US address with insured 2–5 day delivery if you don't already have crisp bills, and home banks stock USD by default. Most travelers handle Mongolia by bringing USD (preferred over EUR for Mongolia given its long-standing tourism dollar economy) and exchanging at a TDB or Khan Bank counter in Ulaanbaatar on landing. Mongolia does not have a Bank of America Global ATM Alliance partner. The cleanest setup for a Naadam, Gobi, or Khövsgöl trip: pack USD $500–$1,500 cash sized to your itinerary, exchange a portion at a TDB or Khan Bank branch on Peace Avenue or near State Department Store, top up MNT from Khan Bank or Golomt ATMs in UB, and accept that countryside spending is cash-only.
Withdraw from a Mongolian bank ATM
Once you're in Mongolia, the cheapest source of tugrik is one of the major bank ATMs. Khan Bank, Golomt Bank, TDB (Trade and Development Bank), and Xacbank all give the actual interbank rate with no markup. Most don't add their own operator fee for foreign cards. Withdrawal limits run roughly MNT 1,000,000–2,000,000 per transaction (about $290–$580). ATMs cluster densely around Ulaanbaatar (Sükhbaatar Square, Peace Avenue, the State Department Store area, the Shangri-La), with thinner coverage in Örkhön (Erdenet) and Darkhan. Coverage is essentially zero in Térelj, the Gobi camps, and Khövsgöl: withdraw everything you need in UB before leaving. Decline DCC every time the screen offers "charge in USD". See the Best ATMs section below for the bank-by-bank lineup. Want to know what a Khan Bank withdrawal will actually cost on your card? Drop it into our ATM fee calculator.
Airport counters & hotel exchange windows
Three traps to walk past in Mongolia. The currency-exchange counter at UBN (Chinggis Khaan International) airport advertises rates that look reasonable but routinely runs 5–10% off the interbank rate. The exchange windows inside Ulaanbaatar hotel lobbies (Shangri-La, Blue Sky, Best Western) bake the markup into the rate. Honest exception worth knowing: bank counters at TDB and Khan Bank in central UB exchange clean USD cash to MNT at competitive rates close to the interbank rate, often beating the airport. Stick to bank-branded ATMs at Khan Bank, Golomt, TDB, or Xacbank; decline DCC; and TDB or Khan Bank counters in central UB are the acceptable cash-to-cash route. Mongolia does not yet have a city-specific guide on this site, but the Best ATMs section below covers the bank lineup.
For a side-by-side comparison of every method (bank wire, travel card, pre-order, ATM, exchange counter) including USD-to-MNT timing tips, see our complete Getting Currency guide →.
Best ATMs to Use in Mongolia
Withdraw all the cash you need in Ulaanbaatar before heading to the countryside. Mongolia's bank ATMs generally do not charge an operator fee for foreign card withdrawals, though your home bank may charge its own foreign transaction fee. Always choose MNT when prompted.
Khan Bank
Mongolia's largest bank with the most extensive ATM network in the country. Khan Bank is the only bank with ATMs that extend to rural areas, including aimag (provincial) capitals. Available at Chinggis Khaan International Airport.
Recommended
Golomt Bank
Strong ATM presence across Ulaanbaatar with reliable machines and English-language interfaces. Also available at Chinggis Khaan International Airport. A top choice for withdrawals in the capital.
Recommended
Trade and Development Bank (TDB)
Good urban ATM coverage in Ulaanbaatar. TDB machines are straightforward and widely available in the capital's commercial areas.
Recommended⚠ Watch Out for Dynamic Currency Conversion (DCC)
DCC is rare in Mongolia but can occur at some tourist-oriented businesses in Ulaanbaatar. When an ATM or card terminal offers to charge you in USD instead of MNT, always decline. Choosing USD means accepting a 3-8% markup hidden in their exchange rate. Always select "MNT" or "local currency" at every prompt.
ATMs to Avoid in Mongolia
Standalone ATMs are uncommon in Mongolia, but you may encounter unbranded machines near hotels and shopping centres in Ulaanbaatar. ATMs outside the capital are very rare, and Khan Bank ATMs in aimag (provincial) capitals may be the only option in rural areas.
Standalone Unbranded ATMs
Avoid unbranded machines near Ulaanbaatar hotels and the Sükhbaatar Square area. These may charge higher fees and offer poor exchange rates. Stick to Khan Bank, Golomt Bank, or TDB ATMs for the best rates and reliability.
AvoidPaying by Card in Mongolia
Card Networks
Visa and Mastercard are accepted at hotels, restaurants, and shops in Ulaanbaatar. Outside the capital, card acceptance drops dramatically. American Express is accepted at very few locations, mainly international hotels like the Shangri-La and Best Western. Do not rely on Amex in Mongolia. Discover has virtually no acceptance and is not usable here.
Contactless & Mobile Payments
Tap-to-pay is available at newer terminals in Ulaanbaatar hotels, chain restaurants, and larger shops, but coverage is inconsistent. Apple Pay and Google Pay have very limited acceptance. Do not rely on mobile payments in Mongolia. Outside Ulaanbaatar, contactless and mobile payments are essentially nonexistent.
Where Cards Will Not Work
Ger (yurt) camps are nearly all cash-only for on-site payments, even if you booked and paid online. Horse trekking and outdoor activities require cash for guides, horse rentals, and extra excursions. Narantuul Market (the "Black Market") in Ulaanbaatar and all other markets are cash-only. Countryside transport by local minivan, shared jeep, and fuel stops requires cash. National park fees at protected areas like Terelj, Khövsgöl, and Gobi Gurvansaikhan are cash-only.
Tipping in Mongolia
Tipping Guide
Tipping is not traditionally expected in Mongolia. It is becoming more common at tourist-oriented businesses in Ulaanbaatar, but remains uncommon elsewhere. At restaurants in Ulaanbaatar, 10% at tourist restaurants like Modern Nomads or Rosewood is appreciated but not required. At cafés, no tip is expected.
For countryside tour guides, $10-15 USD equivalent per day is generous and appreciated. Drivers on countryside tours get $5-10 per day. At hotels, tipping is not expected, but small tips for porters at international hotels like the Shangri-La are appreciated.
Ulaanbaatar & the Countryside: Practical Money Tips
Things to Know
Withdraw ALL your cash in Ulaanbaatar before heading to the countryside. There are virtually no ATMs outside provincial capitals. Before heading to the Gobi, Khövsgöl, or Terelj, withdraw everything you will need for the entire trip, plus a buffer for unexpected expenses.
USD cash is useful as backup. US dollars are widely recognized, and some tourist ger camps accept them. Bring clean, undamaged bills. Your tour operator may accept card payment for the tour booking itself, but everything else on the ground (souvenirs, extra horse riding, meals at local restaurants) is cash.
Narantuul Market is cash-only and a good place to buy warm clothing, cashmere, and gear for countryside trips at low prices. Airport ATMs at Chinggis Khaan International Airport (UBN) include Khan Bank and Golomt Bank machines, so you can withdraw tugrik on arrival. Extreme climate affects ATMs: Mongolia's winters can reach -30°C, and outdoor ATMs can malfunction in extreme cold. Always have backup cash, especially during winter travel.
Money Safety in Mongolia
Staying Safe
Mongolia is generally safe, but keep cash secure when traveling in the countryside. Distribute cash across multiple locations in your luggage and daypack. Use hotel safes in Ulaanbaatar to store extra cash and backup cards when heading out for the day.
Watch for pickpockets at Narantuul Market (the Black Market) and on crowded buses in Ulaanbaatar. Keep valuables in front pockets or a money belt. Carry a second card separately. If your primary card is lost in the Gobi or western Mongolia, there is no way to replace it until you return to Ulaanbaatar. Tell your bank you are traveling to Mongolia before departure. Mongolian transactions are uncommon enough that many fraud systems freeze cards on first use. Khan Bank ATMs allow up to MNT 1,000,000 per withdrawal (about $290), so stock up before heading to the countryside.
Frequently Asked Questions
Do I need cash for countryside trips in Mongolia?
Yes, absolutely. The Mongolian countryside is almost entirely cash-only. Ger (yurt) camps, horse trekking, local transport, national park fees, and markets all require cash. There are virtually no ATMs outside provincial capitals. Withdraw everything you need in Ulaanbaatar before heading out, plus a generous buffer for unexpected expenses.
Which ATMs should I use in Mongolia?
Use Khan Bank (largest network, only bank with ATMs in aimag capitals), Golomt Bank (reliable with English interfaces), or Trade and Development Bank (TDB). All three are available at Chinggis Khaan International Airport. These banks generally do not charge operator fees for foreign card withdrawals.
Can I use credit cards in Ulaanbaatar?
Yes, Ulaanbaatar has decent card acceptance. Hotels, restaurants, supermarkets, and shops around Sükhbaatar Square and the tourist district accept Visa and Mastercard. However, Narantuul Market (the "Black Market"), street food, marshrutkas (minibuses), and smaller restaurants are cash-only. Outside Ulaanbaatar, card acceptance drops to near zero.
Should I bring US dollars to Mongolia?
USD cash is useful as a backup. Some tourist ger camps accept US dollars, and you can exchange USD at banks and exchange offices in Ulaanbaatar. Bring clean, undamaged bills. However, tugrik is the primary currency for all daily transactions, so do not rely solely on USD.
How much should I tip in Mongolia?
Tipping is not traditionally expected in Mongolia. At tourist restaurants in Ulaanbaatar, 10% is appreciated but not required. For countryside tour guides, $10-15 USD equivalent per day is generous. Drivers on countryside tours get $5-10 per day. No tip is expected at cafés or local eateries.
Do ATMs work in Mongolian winters?
Mongolia's winters can reach -30°C or colder, and outdoor ATMs can malfunction in extreme cold. Use ATMs inside bank branches when possible, and always have backup cash during winter travel. Bank hours may also be reduced in extreme weather.
Skip the Foreign Transaction Fees
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Get the Wise Card →Quick Comparison
| Method | Cost | Convenience | Best For |
|---|---|---|---|
| No-FX-fee card (contactless) | Best (no fees, mid-market rate) | ★★★★☆ | Spending in Ulaanbaatar hotels and restaurants |
| Mongolian bank ATMs (Khan, Golomt, TDB) | Low (no operator fee, fair rate) | ★★★★★ | Essential for countryside cash |
| Standalone / unbranded ATMs | High (fees + poor rates) | ★★☆☆☆ | Never recommended |
| Airport exchange counters | High (5-12% markup) | ★★☆☆☆ | Absolute emergency only |
Mongolia Quick Facts
| Currency | Mongolian Tugrik (MNT / ₮). Roughly 3,400 MNT = $1 USD |
| Cash vs. Card | Card-friendly in Ulaanbaatar only. Countryside is almost entirely cash-only |
| Best ATMs | Khan Bank, Golomt Bank, Trade and Development Bank (TDB) |
| Contactless | Available at some Ulaanbaatar terminals. Rare elsewhere |
| Card Acceptance | Good around Sükhbaatar Square. Almost nonexistent in the countryside |
| Tipping | Not traditionally expected. 10% at tourist restaurants in UB is appreciated |
| DCC Risk | Rare but possible. Always choose MNT |
| Best Strategy | Withdraw all cash in Ulaanbaatar before heading to the countryside. Bring USD backup |