1. What is the official currency of Moldova?

The official currency of Moldova is the Moldovan leu.

2. Are there any restrictions on foreign currency transactions in Moldova?

Yes, there are restrictions on foreign currency transactions in Moldova. The National Bank of Moldova has certain regulations in place to control foreign exchange activities, including:

1. Mandatory reporting: All residents and non-residents must report any transactions involving foreign currencies exceeding 100,000 Moldovan lei (MDL) or equivalent in other currencies.

2. Limitations on cash transactions: It is prohibited to make cash payments in foreign currency within the territory of Moldova, except for payments related to international trade contracts.

3. Currency exchange limitations: Residents are not allowed to buy or sell foreign currencies outside of authorized institutions, such as banks and exchange offices.

4. Documentation requirements: Certain documentation may be required for foreign currency transactions, such as invoices or other proof of payment.

5. Restrictions on capital transfers: Non-residents must obtain prior approval from the National Bank of Moldova before making large capital transfers out of the country, such as repatriating profits or transferring ownership of assets.

6. Special regulations for individuals: Individuals who are not residents of Moldova can only carry out currency exchange operations through authorized institutions and may be subject to additional restrictions.

It is advisable to consult with a bank or financial institution before conducting any significant foreign currency transactions in Moldova to ensure compliance with these regulations.

3. What is the current exchange rate for local currency to US dollar in Moldova?

As of June 2021, the current exchange rate for Moldovan Leu (MDL) to US Dollar (USD) is approximately:
1 MDL = 0.058 USD

4. Is it better to use cash or credit cards for purchases in Moldova?

It is generally recommended to use cash in Moldova, as credit cards are not widely accepted. However, there are some larger hotels, restaurants and shops that do accept credit cards. It is always a good idea to have some local currency on hand for smaller purchases and transactions. It is also important to inform your bank of your travel plans before using your credit card in Moldova, as they may flag the transactions as suspicious if they are not aware of your travels.

5. Do businesses in Moldova typically accept US dollars or do they prefer local currency?

Businesses in Moldova typically prefer local currency, which is the Moldovan Leu (MDL). Some larger businesses may accept US dollars but it is not common. It is recommended to exchange your currency for MDL before conducting transactions in Moldova.

6. Are there any hidden fees or charges when exchanging money in Moldova?

There may be some hidden fees or charges when exchanging money in Moldova. It is important to carefully read the terms and conditions of the exchange service or bank before making any transactions. Some common fees to watch out for include commission fees, processing fees, withdrawal fees, and currency conversion fees. Additionally, some ATMs may also charge transaction or international usage fees. It is always best to inquire about all potential fees before exchanging money and consider using a reputable exchange service or bank with transparent fee structures.

7. Can I use ATMs from my home country bank in Moldova to withdraw money?

This will depend on your home country bank and their partnerships or agreements with banks in Moldova. It is best to check with your home country bank to see if they have any partnerships or agreements with banks in Moldova that would allow you to use their ATMs without additional fees. If not, you may be subject to foreign transaction fees and ATM fees when withdrawing money from an ATM in Moldova. It is always a good idea to notify your home country bank of your travels beforehand to ensure that your debit or credit card will work internationally.

8. Is it necessary to tip service workers and what is the customary amount in Moldova?

Tipping is not mandatory in Moldova, but it is appreciated for good service. The customary amount to tip service workers, such as restaurant servers and taxi drivers, is around 10% of the total bill. In some places, a service charge may already be included in the bill, so it is always best to check before leaving an additional tip. It is also common to round up the bill or leave small change as a tip in cafes and bars.

9. Can I purchase traveler’s checks before traveling to Moldova, and are they widely accepted?

Traveler’s checks can be purchased before traveling to Moldova, however they may not be widely accepted in local shops and businesses. It is recommended to also bring cash and/or a debit or credit card for use during your trip. Additionally, most major banks offer currency exchange services upon arrival in Moldova.

10. Are there any restrictions or limits on bringing foreign currency into or out of Moldova?

According to the Moldovan National Bank, there are no restrictions or limits on bringing foreign currency into or out of Moldova. However, individuals must declare any amount in excess of 10,000 $US (or its equivalent in other currencies) when entering or leaving the country. Failure to declare may result in confiscation of the currency and penalties.

11. Do major hotels and restaurants accept credit cards, and if so, which types are most commonly accepted?

In general, major hotels and restaurants do accept credit cards. The most commonly accepted types of credit cards are Visa and Mastercard, followed by American Express and Discover. However, it is always best to check with the specific hotel or restaurant before assuming they will accept a certain type of credit card. Some smaller establishments may only accept cash or certain local credit cards.

12. Are there any unique features of the currency used in Moldova, such as coins with different values or special designs?

Yes, the currency used in Moldova is called the Moldovan leu (MDL). It is divided into 100 bani. The banknotes come in denominations of 1, 5, 10, 20, 50, 100, 200, and 500 lei. In addition to regular coins and banknotes, there are also commemorative coins issued for special occasions or events.

13. Is haggling acceptable when making purchases, especially in markets and smaller shops?

Haggling is generally acceptable when making purchases in markets and smaller shops. This is especially true in cultures where bargaining is a common practice, such as in many parts of Asia, Africa, and the Middle East. In these places, it is expected that customers will negotiate the price with the seller before making a purchase. However, in other parts of the world, such as North America and Europe, haggling may not be as common or may only be considered appropriate in certain situations or settings. It is always best to observe local customs and etiquette when considering whether to haggle while making purchases.

14. Can I pay for goods and services with a mix of both local currency and US dollars?

Yes, it is possible to pay for goods and services with a combination of both local currency and US dollars in some countries. However, it is important to note that not all businesses may accept US dollars as payment, so it is best to confirm with the specific place before attempting to use both currencies. Additionally, there may be different exchange rates for each currency, so you should make sure you are aware of these before making any purchases.

15. What is the most convenient way to exchange money while traveling through different regions of Moldova?

The most convenient way to exchange money while traveling through different regions of Moldova is by using a debit or credit card at local ATMs. This allows you to easily withdraw local currency at favorable exchange rates and avoids carrying large amounts of cash. Additionally, many establishments in major cities accept major international credit cards for payment. However, it is always advisable to carry some cash in case of emergencies or if you are traveling to more rural areas where ATMs may not be readily available. Avoid exchanging currency at airports or hotels as they usually have higher fees and poorer exchange rates.

16. Are there alternative forms of payment in addition to cash and credit cards, such as mobile payments or digital wallets in Moldova?

Yes, there are alternative forms of payment available in Moldova. These include mobile payments, digital wallets, and contactless cards.

Mobile payments can be made through various apps such as Moldcell Pay, Moldindconbank Mobile Payment, and Orange Money. These apps allow users to make payments by linking their bank account or credit/debit card to their mobile phone.

Digital wallets such as PayPal and Google Pay are also accepted in some stores and online retailers in Moldova. Users can store their credit or debit card information in these wallets for faster and more convenient transactions.

Contactless cards are becoming increasingly popular in Moldova and can be used to make purchases at merchants that accept them. They use near-field communication (NFC) technology to securely transmit payment information wirelessly from the card to a contactless-enabled payment terminal.

Overall, while cash is still widely used in Moldova, options for digital and mobile payments are growing rapidly and becoming more widely accepted by merchants.

17. Is tipping expected during taxi rides, at hotels, or at other specific locations like spas or salons in Moldova?

Tipping is not a common practice in Moldova, but it is becoming more customary in some industries such as hospitality and tourism. Generally, gratuity is not expected or included in the final bill at restaurants, hotels, or other service providers. However, if you feel that the service was exceptional, a 10% tip is appreciated.

In taxi rides, rounding up to the nearest whole number or leaving small change as a tip is considered polite. Tipping at spas or salons is also not expected but appreciated for excellent services. Ultimately, tipping in Moldova is based on personal discretion and can vary depending on your overall satisfaction with the service provided.

18. Are there certain stores where tourists can receive tax refunds on their purchases before leaving Moldova?

Yes, tourists can receive tax refunds on their purchases at various stores in Moldova. These stores are typically part of the Tax Free Shopping network, and will have a sign displayed indicating that they participate in the tax refund program. Travelers must present their passport and proof of purchase in order to receive the tax refund. Note that not all purchases are eligible for tax refunds, and there may be minimum purchase amounts required. Visitors should inquire with the store staff about their specific tax refund policies before making a purchase.

19..How should I handle my leftover foreign currency when departing from Moldova, including coins and smaller bills?

1. Exchange it back to your home currency: The most common option is to exchange your leftover foreign currency at a bank or currency exchange counter before leaving Moldova. Keep in mind that some banks may not accept coins, so it’s best to exchange them for larger bills or spend them before departing.

2. Spend it at the airport: If you’re unable to exchange your foreign currency, consider using it to make purchases at the airport such as souvenirs or snacks. Some duty-free shops may also accept foreign currencies.

3. Keep it for future trips: If you plan on visiting Moldova again or another country that accepts the same currency, you can save your leftover money for future trips.

4. Donate it: Consider donating your leftover foreign currency to a charity or organization that accepts foreign coins and bills. This will not only help someone in need, but also minimize waste.

5. Use it as a souvenir: Coins and smaller bills can make unique souvenirs from your trip to Moldova. You can save them as a reminder of your travels or give them as gifts to friends and family.

6. Use an online currency conversion service: Some websites allow you to convert small amounts of leftover foreign currency into your home currency. However, keep in mind that these services may charge a fee for the conversion.

Whatever option you choose, be sure to use up or exchange all of your foreign currency before leaving Moldova as it may be difficult to do so once you have departed.

20. Is there a limit on the amount of local currency I can withdraw from ATMs in Moldova each day?

Yes, most ATMs in Moldova have a daily withdrawal limit of 10,000 MDL (Moldovan leu) per day. However, this limit may vary depending on the specific bank and ATM. It is always best to check with your bank or the ATM provider for their specific withdrawal limits.