When traveling in Kyrgyzstan, it's going to be important for you to understand the currency and the various methods of payment available. Currently in Kyrgyzstan is the som (KGS) and it comes in both coins and banknotes. In the capital city, Bishkek, and in larger cities, many shops, restaurants, and cafes will accept credit cards. However, in smaller shops or especially in rural or remote areas, you should rely on cash transactions.
PAYMENT METHODS IN KYRGYZSTAN
Using Credit Cards
The use of credit cards is generally limited to larger business establishments, grocery stores, and restaurants in Kyrgyzstan. Visa is the most widely accepted. There are a significant amount of businesses that don't accept MasterCard and I have not seen any that accept American Express. I highly suggest all travelers to carry multiple forms of payment and not to rely solely on debit or credit cards. Small vendors, local markets, bazaars, and public transportation typically only accept cash.
Make sure you check with your card company and bank to understand if there are any fees for foreign transactions.
Currency Exchange
Changing money in Kyrgyzstan is an easy process. You'll be extremely surprised to see how many exchange offices and banks offer services to convert foreign currencies to soms. The US dollar is the most readily exchangeable currency and I recommend you only exchange money at a licensed currency exchange point or bank to ensure a fair rate and to avoid any potential scams. Keeping small denominations of local currency is going to be practical for everyday purchases.
The exchange rate can fluctuate daily so I advise you to check the current exchange rate before conducting any transactions.
Withdrawing Money at ATMs
ATMs are widely available in major cities in Bishkek and Osh. You can withdraw the local Kyrgyz currency, the Kyrgyzstani Som (KGS) directly. I use the ATMs that are located inside the major shopping malls or grocery stores. It's important to check with your issuing bank about foreign transaction fees and daily withdrawal limits. I have used both Visa Debit and MasterCard to withdraw money from the ATMs and didn't face any issues.
TIPS FOR TOURISTS COMING TO KYRGYZSTAN
Inform your Bank
Before arriving in Kyrgyzstan, I recommend you notify your bank of your travel plans to avoid any fraud protection issues.
Withdrawal Fees
Be aware of international transactions and ATM withdrawal fees.
Security
Always keep an eye on your card and cash during a transaction. If you feel that any ATM is suspicious, do not use it. Avoid carrying large amounts of cash with you and use a money belt or hidden pouch. Take only what you need for the day and leave the rest in a secure location.
Avoiding Counterfeits
Again, make sure you only exchange currency at a licensed currency exchange point or bank. Inspect the banknotes carefully once you receive them. Be cautious when using ATMs and opt for machines located in well-lit, secure areas to minimize the risk of card skimming or theft.
Dealing with Loss or Theft
In the unfortunate event that your money is lost or stolen, there are immediate steps that should be taken. Report the theft to the nearest police station. This will be incredibly difficult if you do not speak the official languages spoken in Kyrgyzstan which are Kyrgyz and Russian. If I'm being honest, the police may not be very helpful so you should contact your bank or credit card issuer immediately to prevent unauthorized use.
Now that you have this information available to you, you must remain well-informed and prepared for your upcoming trip to Kyrgyzstan. Credit cards have become an increasingly popular form of payment in Kyrgyzstan, offering convenience and security to both locals and tourists. I use credit cards only when I'm making larger transactions and doing trips to the grocery store. However, I highly suggest you carry cash everywhere you go, it will help you navigate the financial landscape with more ease.