Sberbank Expands Cross-Currency Transfers to China and Belarus

No time to read?
Get a summary

In Sberbank, customers can now send funds in Chinese yuan and Belarusian rubles across Russia to any Belarusian bank account by its number. Dmitry Malykh, Senior Vice President of B2C Transaction Banking at Sberbank, shared details about this capability.

A Savings Account in the respective currency is required to complete these transfers. The account can be opened directly in SberBank Online under the Deposit and Accounts section.

Sberbank notes that clients have long depended on ruble transfers, and the new option adds two additional widely used currencies that follow the same straightforward process. The bank believes there is clear demand for this service as it supports business relations, helps address financial needs during travel, and makes it easier to support loved ones from abroad.

The transfer fee is 1 percent of the amount being sent in the chosen currency. Transfers can be performed through the web interface or via the SberBank Online mobile app on Android devices.

No time to read?
Get a summary
Previous Article

Russian FEZ incentives for Crimea housing builders aim to boost investment and development

Next Article

Cardiovascular Risk: Using SCORE and Lipid Testing for Prevention