Raiffeisenbank will change the conditions for transfers in euro from July 3 – Kommersant

Raiffeisenbank has warned customers about new restrictions on transfers in euros from July 3, 2023. Now it will not be possible to make an outgoing payment in euros to another bank if the beneficiary’s bank is located in Russia and a number of other countries. About it reported in the press service of the bank.

These restrictions apply to individuals and legal entities, as well as individual entrepreneurs. According to the report, the new restrictions apply, among other things, to outgoing transfers in euros to personal accounts opened with other banks.

An outgoing payment in euros to another bank is not possible if the beneficiary’s bank is located in one of the following countries: Russia, Azerbaijan, Armenia, Belarus, Georgia, Jordan, Kazakhstan, Kyrgyzstan, Moldova, United Arab Emirates, Tajikistan, Turkmenistan, Uzbekistan.

Raiffeisenbank recommended that customers change the currency of the outgoing transfer or use other payment methods.

Earlier in April 2023, Raiffeisenbank tightened the conditions for currency transfers for individuals. At that time, outgoing transfers in US dollars to other banks became available only for customers with Premium or Premium 5 service packages, as well as customers of Friedrich Wilhelm Raiffeisen. In March, the bank set a minimum amount of $10,000 or its equivalent in another currency at the Central Bank rate for online transfers.

Raiffeisenbank is tightening the rules for currency transfers for individuals amid pressure from the US Treasury and the European Central Bank (ECB) on the credit institution. In March it became known that the ECB demanded from the Austrian banking group Raiffeisen Bank to close its business in Russia. According to Reutersthe ECB insists on the formation of an action plan to terminate the activities of the bank in the country.

Read more about the prospects of the banking group in Russia – in the material “Kommersant” “Raiffeisenbank was told to exit.”

Polina Motyzlevskaya