Russian banks are signaling a broad shift in how much money can move through transfers without fees. In discussions circulating through the financial sector, the maximum monthly amount eligible for commission-free transfers is being proposed to drop from 1.4 million rubles to a range between 300 thousand and 600 thousand rubles. This shift would mean a smaller share of everyday and light-to-mid-range transfers would escape fees, a theme repeatedly referenced by market insiders and financial journalists who track policy developments.
As policymakers prepare for the second reading of the bill that aims to abolish commissions for transfers between banks, attention is turning to where the line should be drawn for free transfers. The ongoing dialogue is shaping expectations across the market, with participants noting that the exact threshold remains a matter of debate. Several sources in the financial press have highlighted the fluid nature of the proposal, indicating that no final version has yet been agreed upon for the upcoming reading.
Anatoly Aksakov, the head of the State Duma committee on financial markets, has underscored that the second reading is the current focal point. The central question revolves around the size of the fee-free transfer window. While some figures discussed range from 100 thousand to 1.4 million rubles, insiders point out that a consensus on the precise threshold has not emerged. Stakeholders caution that the draft could evolve further before a final version is put to vote, and the details could shift again as deliberations proceed.
Bank representatives again stressed the goal of making the system more accessible for the general public. They suggest that many customers might operate comfortably within a 200-300 thousand ruble free-transfer limit, yet they acknowledge that a ceiling at 1.4 million rubles could still matter for wealthier clients who rely on services with special terms. The balancing act, they argue, is to limit non-essential transfers for the broader population while preserving adequate options for high-value transactions that require nuanced service arrangements.
In related developments, Izvestia reported that February brought news about cross-border payments within the faster payment framework. The publication noted that Russian citizens could now use FPS to send funds to neighboring countries. In particular, Tinkoff customers were cited as having early opportunities to transfer money to banks in EAEU member states, signaling an expansion of rapid payment capabilities beyond domestic borders. This progression aligns with a broader push to streamline convenient transfers while managing the cost implications for banks and customers alike, especially as the regulatory environment evolves. [Source attribution: Izvestia]