Raiffeisenbank to limit euro transfers to banks in Russia and certain other countries starting July 3

MOSCOW. June 21 (Interfax) - Raiffeisenbank has limited the transfer of outgoing payments in euros to accounts in other Russian banks, as well as to banks from a number of countries which are not on the "unfriendly" list, an announcement on the Raiffeisenbank website said.

Because of restrictions imposed by correspondent banks, starting July 3, outgoing payments in euro to other banks will not be 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, and Uzbekistan. The new conditions apply to retail clients and individual entrepreneurs, as well as legal entities.

The restriction also applies to outgoing transfers in euro to customers' own accounts opened with other banks in one of the listed countries. Raiffeisen recommends that customers change the currency of the outgoing transfer or use alternative payment methods.

The new conditions do not apply to transfers in euro between Raiffeisenbank's customers in Russia. They can still transfer euros between their Raiffeisenbank accounts or send them to another Raiffeisenbank client.

Earlier in June, the bank introduced a fee for crediting funds from other banks in US dollars to individuals' accounts. The fee is 50% of the transfer amount, but not more than $500.

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