Restrictions on UnionPay Cash Withdrawals for Russian-Bank Issued Cards
China’s UnionPay, the international payment system, has reportedly introduced limits on cash withdrawals abroad for cards issued by Russian banks. Multiple outlets, including TASS and RIA Novosti, confirmed the news, with Frank Media among the first to report the new caps.
According to confirmations from Russian Standard Bank and RRDB Bank, cash withdrawals using UnionPay cards issued by Russian banks abroad are now capped at 50,000 yuan per day and 500,000 yuan per year. In ruble terms, this translates to roughly 507,000 rubles daily and about 5.1 million rubles annually, based on the Central Bank exchange rate on that date. Some banks indicated they had not yet heard of the restrictions, while others suggested additional limits might apply depending on the bank’s policy.
A Frank Media source within a bank noted that the Chinese side had not publicly disclosed the withdrawal limits for UnionPay cards used outside the issuing country. Still, Russian banks retain the right to set their own limits in line with their policies. Different banks reporting different limits were tied to this discretionary approach.
Primorye Bank explained the practical steps: if a customer needs cash withdrawals beyond the determined limit, issuing an additional UnionPay card under the bank’s tariff plan could be an option. In another development, Zenit Bank clarified through TASS that these limits primarily affect cash withdrawals overseas and do not restrict non-cash transactions.
State Duma Deputy Stanislav Naumov commented on the decision, suggesting it may reflect a temporary internal Chinese policy tied to quarantine measures and a move to ease travel in the near term. He argued that such a temporary measure could help stabilize financial transactions as travel resumes and anticipated broader use of UnionPay by residents of Russia and EAEU nations in the future.
Since Visa and MasterCard exited the Russian market earlier in the year, UnionPay remained the sole major international payment network operating in the country. The Chinese firm had not issued an official response to sanctions against Russia. However, reports noted that UnionPay had blocked Western sanctions functionality, limiting card issuance by Russian banks. Issuers currently include Russian Standard, MTS Bank, Rosselkhozbank, Gazprombank, Sberbank, Saint Petersburg Bank, Primorye, RRDB, Zenit, and Post Bank.
Even with Western payment options constrained, UnionPay usage among Russians remains relatively low, with only a small share of the population relying on it for daily transactions. The card network’s reach is strongest in Far East and East Siberia, while many foreign online stores still do not accept UnionPay cards issued by Russian banks. Some European countries temporarily halted acceptance of Russia-issued UnionPay cards in autumn, with Finland stopping ATM services in October and Spain, the Czech Republic, and Cyprus restricting card payments as well.
For Canadians and Americans, these developments illustrate how international networks adapt under geopolitical pressures and sanctions. Bank customers in North America who rely on UnionPay via Russian-issued cards may need to review daily withdrawal limits, consider alternative methods for overseas cash access, and verify with their banks about any geographic or product-specific restrictions that could affect cross-border transactions.
Attribution: reports confirm from TASS, RIA Novosti, Frank Media, and bank statements, with commentary from Primorye Bank, Zenit Bank, and State Duma deputy sources. The situation remains fluid as policies evolve and travel resumes post-quarantine measures reported by authorities in China and adapted by financial institutions in Russia.
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