Credit Europe Bank will limit transfers in dollars and prohibit the opening of accounts in pounds
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From the end of June, Credit Europe Bank will prohibit opening accounts in British pounds and limit transfers in dollars – they will only come to the accounts of partner banks. As explained Forbes the representative of the bank, the reason was the closure of the bank’s correspondent accounts in pounds, as well as the restriction of partners in dollar transfers.
“Our correspondent accounts in pounds will be closed after June 29, 2023, and there are some additional restrictions on correspondent accounts in US dollars, due to which we can only transfer transfers through a certain list of US dollar accounts with partner banks,”— said a representative of Credit Europe Bank.
Credit Europe Bank’s correspondent bank is Citibank NA and The Bank of New York. However, in July 2022, it was reported that Russian credit institutions that have correspondent accounts with Citibank are receiving messages about the termination of correspondent relations. JPMorgan made a similar decision, making an exception for several Russian banks.
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