VTB launched the possibility of transfers in Turkish LIRA to any shore of Türkiye, reports Vedomosti with reference to a source among importers. On the hotline, the bank confirmed the information, but emphasized that the crediting of funds is not guaranteed.
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Starting January 19, VTB clients can open an account with lies online and make a payment directly, however, the bank recommends checking with Turkish counterparties whether their bank will receive money from VTB, noted on a hot line.
“It is very important that all participants in the transaction are not on sanctions lists. This requirement applies to the seller, the buyer, the beneficial owner and the manufacturer of the goods. The assets should not be on the sanctions list either,” they added there.
The deadline for payment execution may take from one to five days. VTB charges a commission of 0.75% of the payment amount, but not less than $40, as well as a separate commission for currency control. This is 0.15% of the amount plus VAT, but not less than $10 and not more than $2000. In addition, the corresponding bank commission in the amount of 1% of the payment amount is charged, writes the Vedomosti.
At the moment, VTB makes payments to China, India and the CIS countries. Competition in the translation market to Türkiye is intensifying, but the readiness of Turkish banks to work with Russian clients remains limited. According to the bank, for the blank business, three out of every 10 payments from Türkiye are returned, shared Anastasia Sorokina, head of foreign economic activity.
In November, Moldova’s Prime Minister Dorin Republic said the country’s government was looking for an opportunity to resume money transfers with Russia. According to him, the government did not prohibit the operations, difficulties arose due to Western sanctions.
Author:
Anastasia Lipchanskaya
Source: RB

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