this is done to reduce risks – Kommersant

The head of the Central Bank, Elvira Nabiullina, said that Russian banks are introducing commissions on foreign currency transfers to reduce risks. According to her, this is necessary to reduce the risk of freezing customer funds. Earlier today Raiffeisenbank informedthat from June 20, he introduces a commission of 50% for crediting dollars from other banks.

“The commissions that banks impose on transfers in foreign currency are the right of banks. And we have repeatedly said that this is due to the fact that banks understand the risks of working with foreign liquidity, some of them have limitations. Therefore, in order to reduce such risks, including so that the funds of citizens are not frozen in foreign currency, they establish such commissions,” Ms. Nabiullina said following the meeting of the Board of Directors of the Central Bank.

From June 20 Raiffeisenbank will charge commission for transferring funds from other banks in dollars to individual accounts in the amount of 50% of the transfer amount, but not more than $500. Raiffeisenbank explained this decision by the need to limit the number of transfers in dollars “due to changing market conditions.”

Anastasia Larina