Money transfers through the fast payment system (FPS) to neighboring countries became available to the Russians. Tinkoff clients will now be able to send funds to banks in Armenia, Kyrgyzstan, Uzbekistan and Tajikistan.

Russians will be able to make transfers abroad through the SBP

The transfer is made in rubles with conversion by the partner, while the bank becomes a provider between the SBP and foreign credit institutions, Izvestia reported.

VTB, Otkritie and Novikombank also plan to launch this service in 2023. Such transfers will be relevant for labor migrants and left-away Russians.

The number of partner banks will gradually increase as many foreign credit organizations fear secondary sanctions, said Alexei Tarapovsky, founder of Anderida Financial Group. At the same time, all EAEU countries have an interest in connecting this system.

Transfers to the SBP in the third quarter of 2022 reached record levels in the history of the system. In three months, 839 million transactions were made for a total of 3.9 trillion rubles. For payment, citizens used the SBP 112 million times, this is an absolute record.


karina pardaeva

Source: RB

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