Job Discussion Forums

teach101 · Joined: 26 Nov 2006 Posts: 6

I wanted to know, how difficult it is to setup an account anywhere within the country?
I'm from the USA, and I plan to be there soon.
What are some of the larger banks there?
Thanks for any information. Very Happy

canucktechie · Joined: 07 Feb 2003 Posts: 343 Location: Moscow

I guess the question that begs asking is why do you think you need a bank account anyway? You won't be making enough money to save anything (unless you do nothing but work and stay home).

Just keep your money back home and use your ATM card if you need extra cash.

teach101 · Joined: 26 Nov 2006 Posts: 6

I'd like to put some money away for safe keeping...or is this a naive statement to make Question

rogan · Joined: 03 Mar 2003 Posts: 416 Location: at home, in France

Commercial Banks = there for businesses, not for private punters.

I remember in '98 a gun toting student beseaching me to put my $ savings into his bank - 2 days later his bank was closed and he and all the deposited money had disappeared.

demoiselle · Joined: 16 Dec 2006 Posts: 25

I would look into whether you can arrange to have your payments electronically deposited into your home account, in America. I don't know if you can. I have found that the Citibank Russia system is not hooked into the Citibank USA system.

However, if I start making money here, I'll be trying my hardest to get my income into a non-Russian bank. The number of banks on every corner here is a bit nerve-wracking. Plus, so many of them seem to have names like "Gas-prom Bank" and "Oil-Money Trust" and "BigCompanyBigName Give Us Money Inc..." -- I don't feel inspired with trust.

canucktechie · Joined: 07 Feb 2003 Posts: 343 Location: Moscow

There would be high overhead costs in wiring your salary to your US bank, and then more overhead to get it out at a Russian ATM. It seems completely pointless to me. Sure it makes some sense if you're getting an "expat" salary, but not an EFL teacher's.

In terms of cost-effectiveness and overall risk I think it just makes more sense to hide the money somewhere in your apartment provided you don't have more than $1000 or so, and I don't think it's likely you'll exceed this if you have any kind of social life.

demoiselle · Joined: 16 Dec 2006 Posts: 25

Thanks for the good point about wire transfers etc.

JessInRussia · Joined: 07 Mar 2006 Posts: 36

Hiya

You can do it, but it costs a bit. Personally I don't see what all the fuss is about.

As far as my experience is concerned, I opened a bank account for a once-off $60. I come from South Africa, so transferring (almost any amount) costs another $30 each time. So I only do it once I have a lot to transfer, about every two months.

Yes, it costs to transfer the money, but at my school I save loads of cash each month without living on cabbage soup. You just have to work the system. People are forever complaining about their salaries, but you get those in life who complain all day and those who do something about their problems/challenges/concerns.

Jess

PS: Another option I used before I had my account was to ask a friend to transfer it. But then you have to have a trustworthy friend. Wink