Mongolia located in central Asia, bordering China in the East, South and West, and Russia in the North. It occupied an area of 1.5665 million square kilometers and having a population of about 3 million, with an average population density of 1.5 people per sq km. Of the total population, urban residents account for 80%, while the Ulan Bator residents account for 1/4. In March 2006, Mongolia was officially recognized as an overseas tourism destination for Chinese citizens.
According to the data analyze from World Tourism Organization 794,386 Mongolian traveled to China in 2010. China is the first choice of destination which Mongolian prefers to. Compared with 2009, Mongolian traveled to China increased by 37.75% in 2010. Most visitors from East Asia Pacific region and the European love to travel to Mongolia.
Capital Ulan Bator in Mongolia means "red hero". Itis a municipality and the largest city, whichis the political, economic, cultural and transportation hub too.In recent years the Mongolian economic develops rapidly and urban constructionchanges witheachpassingday. There are 400 new cars each day in Ulan Bator to get the registration.This city is building many modern skyscrapers, the international brand hotels, entertainment parks, etc. Mongolia has 14 commercial banks and established payment card business since 1999. 9 banks are issuing payment card and accepting card. KhanBank of Mongolia and GolomtBank of Mongolia is the largest bank issuing and acquiring UnionPay card. In addition to Mongolia local products in supermarkets and department stores, Mongoliahasgot all materials over world, mainly from Russia, Germany, etc. Mongolia legal currency is Tugrik, 1 RMB yuan is about 209 Tugrik. There is no time difference between Mongolia and Beijing.
Mongolia is a young and dynamic place, different as most aging cities in the world, Ulan Bator gets most young people. They follow international trend and fashion, they are ebullient and energetic, they work hard and their life is full of confidence!
Mongolian prairie still keeps her original beauty and purity. Mongolian is not only "Nation on Horsebacks", but also who is driving the various imported high-grade jeeps to graze and visit friends. Mongolian has great hospitality. If you pass through their yurt, they will warmly please you to drink a bowl of kumisswhich would be sacrificed when worshipping their ancestors and deities, and would be served when friends come afar. They use kumissexpressed the Mongolian people‘s enthusiasm.
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CUP service opening time: August 2008
Local CUP service hotline: N.A.
Using the Card in POS Terminals
Application Range
Merchants with the CUP logo all accept CUP cards. Some merchants may not have put up the CUP logo, but cardholders can show their CUP cards and inquire of the cashier whether or not they are accepted.
Merchant Characteristics
Merchants that accept CUP cards are mainly located in the capital Ulan Bator, basically covering the airport, department stores, scenic spots, restaurants, hotels and other places frequented visited by Chinese people.
Accepted Cards
All CUP cards, including dual currency cards.
Reminder: When using dual currency cards, cardholders are recommended to ask the cashier to choose the CUP network, so as to ensure the enjoyment of the various favorable treatments and services provided by the CUP network. Due to the purchase limits for credit card consumption, it is recommended to use CUP debit cards for large luxury related transactions, as they are subject only to the limit of the balance of the card.
Relevant Charges
No commission fee charged for overseas card-using.
Compared to other bankcard networks, the 1%-2% currency conversion fee is exempted when withdrawing cash via the CUP network. CUP will convert the amount of local currency withdrawn into that of RMB, and the bank will deduct that amount from the cardholder’s RMB account accordingly.
ATM Cash Withdrawal
Application Range
More than 70% of the ATMs in Mongolia accept cash withdraw in local currency (tugrik) with CUP cards. These ATMs are mainly distributed in various outlets of the Khan Bank and Golomt Bank, department stores, hotels and other key merchants.
Accepted Cards
All CUP cards, including dual currency cards.
Reminder: Cardholders are recommended to use the CUP debit card for cash withdrawal while abroad since overdraft interest will occur when using a credit card.
How to Identify ATMs that Accept CUP Cards?
The CUP logo
Chinese Interface
At present, Chinese interface is available in some ATMs.
Cash Withdrawal Procedure
The card will be returned before cash is given.
Charges and Cash Withdrawal Limits
For ATM cash withdrawals with CUP cards while abroad, follow the stipulations set by relevant state authorities: The daily accumulative withdrawal amount of foreign currency per CUP debit card shall not exceed the equivalent of RMB 10,000. Please consult the issuing bank for the daily cash withdrawal limits of the CUP credit card.
Certain amount of commission fee will be charged by the issuing bank for cash withdrawal while abroad. Please consult the issuing bank for more details on specific rates, the times of cash withdrawal each day with a single card, withdrawal limit per time, accumulative cash withdrawal limit, etc.
Compared to other bankcard networks, the 1%-2% currency conversion fee is exempted when withdrawing cash via the CUP network. CUP will convert the amount of local currency withdrawn into that of RMB, and the bank will deduct that amount from the cardholder’s RMB account accordingly.
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