MOSCOW, August 15Raiffeisenbank (the Russian subsidiary of the Austrian group Raiffeisen Bank International, RBI) is stopping outgoing cross-border transfers in foreign currency for individuals; the transfer can be processed until the evening of August 30, the credit institution reported on its Telegram channel.
«Starting September 2, 2024, outgoing cross-border transfers in foreign currency will be unavailable to all our clients, except for a limited number in the field of large and international business,» the bank said in a statement.
Customers can make a transfer in foreign currency until 16:00 Moscow time on August 30, it is added there.
«These restrictions are related to the decision of the RBI Group in connection with the ECB's order… The changes do not affect transfers in rubles to countries that accept them,» the bank explained.
The credit institution's press service explained that over the past two years, correspondent banks have consistently tightened verification procedures and reduced limits on the number of outgoing transfers. «We are constantly adapting to meet changing requirements while maintaining the possibility of such transfers for our clients. Over the next two weeks, we will focus on intensive processing of cross-border payments and supporting our clients,» the bank commented.
Raiffeisenbank has been operating in Russia since 1996. In its first-quarter financial statement, Raiffeisen Bank International said the group was actively working on the sale or spin-off of its Russian subsidiary.