A new Russia-wide regulation began on May 1, prohibiting banks from charging fees for transfers between customer accounts up to 30 million rubles. The change applies to interbank transfers made within a single customer’s accounts, aiming to simplify money movement for large sums. The news outlet RBC has reported on the development, highlighting its potential to ease routine transactions for many Russians.
Prior to these amendments to the federal law On Banks and Banking Activities, free transfers between a client’s own accounts were available only through the Fast Payment System (FPS) using a phone number, with a limit of 100 thousand rubles. The new rule expands the freedom to move funds: customers can now send free transfers up to 30 million rubles not only via the System for Quick Payments (SBP), but also through mobile apps or a personal cabinet using the recipient account number. This broadening of options promises greater convenience for individuals managing large sums or performing corporate-style intra-bank movements.
It is important to note that transfers conducted with card numbers at bank branches are unaffected by this change. Cards and in-person branch processes retain their existing fee structures and limits, so the update focuses on transfers routed through digital channels and banking platforms tied to customer accounts.
In a statement to the agency, Sberbank’s press service indicated that the bank is aligned with the new law and sees benefits for customers. The bank suggested that allowing larger free transfers across different banks should streamline operations for clients who need to move funds from other institutions into Sberbank accounts. The stance echoes a broader expectation that enhanced transfer capabilities will reduce friction for everyday financial activity and improve liquidity management for households and businesses alike.
Voicing support for the reforms, Vyacheslav Volodin, the chairman of the State Duma, noted that raising the transfer limit is intended to protect depositors’ rights and to ensure that legitimate, routine transfers do not incur unnecessary fees. The policy, he argued, aligns with the needs of ordinary Russians who rely on reliable, cost-effective movement of their funds.
People have already expressed interest in how this shift will affect their day-to-day banking. Some observers wonder about the practical implications for cross-bank payrolls, personal savings transfers, and family support payments, while others expect financial apps to adapt quickly to the higher cap. In general, the sentiment is that higher transfer limits, combined with free options, should reduce the administrative burden and help households manage larger expenses without worrying about fees. The change could also influence the behavior of small businesses that frequently move money between accounts for operations, inventory payments, and supplier settlements.
Overall, the new policy marks a significant step toward streamlined digital banking in Russia, with digital channels like mobile apps and online banking increasingly becoming the default for routine transactions. As banks implement the changes, customers can anticipate faster, freer transfers within their own accounts up to the updated ceiling, while remaining mindful of any exceptions tied to card-based or in-branch processes. If questions arise, banks typically provide clarifications through official channels, and financial reporters continue to monitor how the reform unfolds in practice. (Citations: RBC, bank communications, parliamentary reporting)