One of the most common questions tourists ask before traveling to Mongolia is about payment methods. They often wonder if they can pay with a bank card, whether they need cash, where to exchange money if necessary, how much to tip service providers, and where to get a tax refund, among other finance-related concerns.
Here are the answers to these common financial questions:
Which types of bank cards are accepted in Mongolia?
Bank Cards Accepted in Mongolia
- Visa & Mastercard: Widely accepted in cities, including hotels, restaurants, and shops.
- UnionPay: Growing acceptance, especially via Golomt Bank.
- American Express: Available in some establishments since 2013.
Tip: Carry cash for rural areas, markets, and transport, as card payments may not always be available. Some transactions may include fees.
Digital Payments
Alipay+: Supported via Khan Bank for multiple e-wallets.
WeChat Pay: Available in Mongolia
Where Can I Exchange Money?
You can exchange cash at the currency exchange center at Chinggis Khaan International Airport or withdraw Mongolian Tugriks from ATMs. If you want a better exchange rate, you can visit a any bank branch in Ulaanbaatar.
How Much Does Transportation Cost?
Taxis: The standard rate in Ulaanbaatar is 2,000₮ per km. An official taxi from Chinggis Khaan International Airport to Ulaanbaatar (50 km) costs around 100,000₮, but prices may vary due to traffic and waiting time.
Buses: A single bus ticket costs 1,000₮. You must purchase and top up a transport card in advance.
For taxi and bus-related apps, click here to check our guide.
Is Tipping Required?
Tipping is not mandatory in Mongolia, but it's appreciated for good service. For tour guides and drivers, a common tip is $5-$10 per day, depending on your satisfaction and budget.
Tax refund
Tourists in Mongolia can claim a VAT refund by following these steps:
Buy from registered stores – Ensure purchases are eligible for VAT refunds.
Register on E-Mongolia – Download and use the app for refund processing.
Scan receipts – Use the app to record online cash register receipts.
Validate at departure – Present goods and receipts at customs.
Receive refund – Get your refund via E-Mongolia or at airport counters.
This system allows tourists to reclaim VAT on eligible purchases efficiently.
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