VTB Bank is expanding its cross-border transfer service to include cash withdrawals in seven countries, according to the bank’s press service as reported by TASS. The new feature adds practical cash access to international transfers, allowing customers to send money and receive cash in the recipient country without needing a local bank account. This move aligns with VTB’s goal of blending digital convenience with immediate cash availability for clients who move funds across borders.
The transfer limit is capped at 350,000 rubles per transaction, with a total ceiling of 500,000 rubles across transfers. The program is designed so customers do not have to open a dedicated bank account to access these options. Transfers can be initiated through the VTB mobile app or via the web version of VTB Online on the bank’s official site, offering flexibility for users across devices and platforms.
VTB leadership described the launch as a fresh cross-border transfer service that includes cash withdrawal. Retail clients will be able to send money to the seven listed countries and see the transfer completed immediately in the recipient’s currency. This immediacy supports people who require quick access to funds abroad and reflects the bank’s strategy to shorten the time between sending and receiving money in a volatile global environment (Source: TASS).
Looking ahead, VTB has announced plans to broaden the footprint of this service, aiming to expand the network to twenty partner countries by year-end. The expansion plan indicates a deliberate approach to increasing international reach while keeping usability and currency availability at the forefront for users across diverse markets.
In related financial policy news, the Russian Ministry of Finance reported that the United States extended a license allowing work with Russian banks in the energy sector. This development has significance for multinational financial activity and the cadence of cross-border operations as banks and energy firms navigate evolving sanctions and regulatory frameworks. The extension, seen by industry observers as a signal of continued dialogue, comes amid broader discussions about how sanctions regimes influence everyday banking services and energy trade between Russia and global partners (Source: Ministry of Finance).
Earlier statements from Prime Minister Mishustin cautioned against excessive optimism, emphasizing a pragmatic approach to the evolving financial landscape. The measured tone—acknowledging potential improvements while recognizing uncertainties—reflects a practical stance as market participants assess how policy shifts will interact with banking services, cross-border transfers, and currency dynamics in the months ahead (Source: government statements).