In January-September 2023, Russians transferred three times more money abroad via mobile application than in the same period last year. Transfers were sent mostly to Kazakhstan, Azerbaijan and Uzbekistan. This was stated in a study by Pochta Bank based on data on customer transactions, the results of which were received by socialbites.ca editors.
Cross-border transfer service is mostly provided in Moscow, St. It is in demand among residents of St. Petersburg, Sverdlovsk, Novosibirsk and Chelyabinsk regions. The leaders in terms of the size of the average invoice for such transfers are the Amur Region, Karachay-Cherkessia, St. Petersburg, as well as the Khabarovsk and Krasnoyarsk Regions.
“The main drivers of growth include the separation of international payment systems from the Russian market and restrictions on the use of cards of Russian banks abroad; This leads to flows into other channels and methods for transferring funds. Citizens transfer money, including buying foreign currency and making purchases abroad. “The volume of money transfers to our loved ones and business partners abroad has also increased significantly,” said Vladislav Ermakov, head of Pochta Bank’s digital business development department.
According to him, at the same time, the expansion of transfer directions to friendly countries facilitated the increase in cross-border transfers.
Through the bank’s mobile application, you can now instantly transfer money from any card to national payment system cards in Belarus (Belkart payment system), Kyrgyzstan (Elkart), Tajikistan (Korti Milli, Express Pay), Armenia (ArCa). , Abkhazia (“APRA”) and South Ossetia (“Mir”).
You can also send money from any card to Visa and MasterCard in Kazakhstan and Uzcard and HUMO payment system cards in Uzbekistan. The transfer is sent in rubles, which are then converted at the rate of the bank that issued the recipient’s card. Only the card number is required for shipping.
The study was conducted by the bank in September 2023.
Previously “socialbites.ca” named Five ways to send money abroad.