Putin set a limit of 100 thousand rubles in Russia for transfers without opening an account

by alex

New rules come into force in a year

Russian President Vladimir Putin signed a law that introduces a limit on the maximum amount of a one-time transfer of funds for individuals without opening a bank account and with simplified identification. 

Until now, it was enough for a client to provide passport data in order to transfer an unlimited amount over 15 thousand rubles. Now the amount of a one-time transfer is limited to 100 thousand rubles. If you want to transfer more than 100 thousand, the client will need to go through full identification. 

The new rules do not come into force immediately, but a year after the official publication of the document. Credit institutions will need this time to make the necessary changes to their processes.   

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