Raiffeisenbank has increased the minimum transfer threshold in dollars for legal entities

From March 2, Raiffeisenbank will increase the minimum amount of an outgoing transfer in US dollars to $15,000 for legal entities, individual entrepreneurs and private practitioners. The restriction will not affect individuals, said press office jar.

“The decision was caused by increased requirements for the procedures for checking and making payments on the side of correspondent banks that make settlements in this currency. Payments for amounts above this threshold, as well as settlements in other currencies, are carried out without restrictions on the amount, ”the press service explained.

From December 23, 2022 Raiffeisenbank changed conditions for currency transfers to Russian and foreign banks. In the Raiffeisen Online mobile application, the minimum amount of each transfer is now $5,000 (or the equivalent in another currency at the exchange rate of the Central Bank on the day of the transfer). Transfer fee – 2%.

Raiffeisenbank is a subsidiary of the Austrian group Raiffeisen Bank International (RBI) AG, has been operating in Russia since 1996, included to the list of systemically important financial institutions in Russia. February 17 RBI informed, which reduced the correspondent network in Russia to five banks. The rest of the banks received notifications about the restriction of transfers in dollars and euros.

Erdni Kagaltynov