Sberbank is to restore money transfers to China after they were cut off due to sanctions. Now transactions will be carried out in rubles, but they can be received on local bank cards, RBC reports.
A Sber representative told the publication that the transfer fee will be standard for cross-border transfers and will be 1% of the amount. The bank expects the service to be in demand amid the development of trade ties with China and the tourism sector.
It will be possible to transfer a maximum of 300 thousand rubles per day and 700 thousand rubles per month. In this case, the minimum transaction amount will be 3.5 thousand rubles.
In total, Sber clients have access to transfers to 15 countries, including in rupees to banks in India, as well as in Belarusian rubles to Belarus.
- In early 2022, Sberbank has already launched money transfers to China using a phone number to an Alipay wallet. At the time, the service operated in conjunction with the international money transfer system Western Union.
- In April 2022, the bank suspended all foreign currency transfers due to sanctions imposed on it (some of them were later reinstated). In June last year, Sberbank suspended cross-border transfers from corporate clients in yuan, as well as transfers in this currency to other banks in Russia. The calculations were later resumed.
- Previously, VTB restored transfers from individuals to China.
Author:
Anastasia Marina
Source: RB
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