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Banking in Russia
Costs in Russia

Banking in Russia

The Russian banking industry has gone from nonexistent during the Soviet Union era to a booming business in today’s world. Since the early 1990s, there have been many new banks opened offering a wide range of services for both native Russians and foreign bankers; however, foreign bank branches are typically only available in large cities.

Russians use both cash and cards for payment, though cashless transactions are quickly becoming the norm. ESL teachers looking to open a bank account will need to bring a copy of their employment contract with them.

Costs in Russia

Russians are known for being a nation of people who love to shop. English teachers in Russia will have lots of grocery store flyers to look at; there are numerous large chain stores throughout the country. Magnit, Lenta, X5 Retail, Auchan, and DKRB are only some of the bigger grocery store chains in Russia. However, unlike North Americans, Russians are not known for being one-stop shoppers. A typical grocery-shopping trip involves many stops along the way. Below are some examples of typical Russian pricing:

• 1 kg of potatoes - 40 RUB
• 1L of milk - 70 RUB
• Bread - 40 RUB
• Beer - 60 RUB
• 1 kg of chicken breasts - 290 RUB