UniCredit Bank will increase the commission for transfers in foreign currency to 5%

The credit institution already increased the commission for transfers in foreign currency in April. For transfers through Internet banking and upon request for regular money transfer, it was 2%, for transfer by other means of communication – 3%. The minimum size is $200, the maximum is $1 thousand.

Since November 12, UniCredit Bank introduced for individuals a minimum level of money in foreign currency that can be transferred to another bank or to other customers’ accounts at UniCredit Bank without their approval. We are talking about 10,000 dollars, 10,000 euros and 70,000 yuan.

UniCredit Bank is owned by the Italian UniCredit, which since 2022 has been trying to stop operating in the Russian market and is gradually reducing its presence in the country, which, according to Reuters, is required by the European Central Bank.

In July, Vedomosti, citing a report from a credit institution, said it would significantly reduce its business in Russia by the end of 2024.

At the same time, UniCredit’s exit from the country is complicated by the fact that Russian authorities intend to block the bank’s attempts to sell its local business to anyone who may fall under Western sanctions, sources told Bloomberg. Austrian Raiffeisenbank, owner of Raiffeisenbank, faced similar difficulties.