Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

Russian Banks Stopped Working With Contact Money Transfer System
May 5, 2014 22:32


About 15 Russian banks suspended cooperation with Contact money transfer system. This was provoked by negative information about the system's settlement bank – Russlavbank, whose top manager was charged with illegal banking.

The list of banks that suspended cooperation include Binbank, Sobinbank, Asian-Pacific Bank (ATB) and “Life” Financial Group banks. According to experts, banks' anxiety was caused by recent events that have occurred with Migom money transfer system, which was stripped of license next after its settlement bank Eurotrust.

Newspaper experts said the Contact is one of six socially important payment systems in Russia along with Sberbank and VTB payment systems. This is why the resumption of cooperation with it remains possible. "Everything depends on what awaits the Russlavbank as there are no complaints about the system," the information source said.

Russlavbank commented on this article. "The following list of the banks is about 3% of CONTACT affiliate network, and some of these partners have already returned to us. Some, out of remaining listed banks change payment scheme with CONTACT system. The rest transfer calculations to the second billing center, VTB Bank. Temporary suspension of cooperation with listed partners does not have significant impact, also because operations continue with the largest banks in the country: Uralsib, Avangard, Vozrozhdeniye, Asia-Pacific Bank, Transnational Bank, Investtorgbank, Intercommerts, Finam and others. We are now observing a positive response from our affiliate network, as we are one of the market's leaders with a work scheme comfortable for them," the press-service reported.

Earlier, Russlavbank officially stated that law enforcement agencies do not have claims to the organization as a legal person with regards of investigation.

The goal of the System Operator is to provide System Participants, Partners and Clients with the opportunity to render and/or receive CONTACT System services.

As the operator of the CONTACT Payment System, JSCB RUSSLAVBANK (CJSC) assumes the obligations associated with adhering to the requirements of the quality management system and quality standard ISO 9001:2008, and with constantly improving the performance of the quality management system in place at the Bank.

CONTACT is a cash remittance system for private individuals. One can use the CONTACT system to remit cash up to 4 950,00 EUR/USD (depending on the country) to your relatives and friends in more than 110 countries quickly and at a low price without opening a bank account.



Author: Anna Dorozhkina

Tags: money transfer Russian banks    

Next Previous

You might also find interesting:

Gasprom Signed an Agreement With South Stream Promsvyazbank Posts 1H2015 Financials The Bankruptcy Of Neva Travel Agency Sanctions Extended Unique Paintings by Ural Nick Vujicic Displayed at Russian Museums

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

search on the map
Russian Cinema  debt collection  The Baseballs  Photo Exhibitions  what to do in Krasnodar  Russian models  Educational Tourism  St. Petersburg  Pyotr Utkin  football in Russia  Altai  Perm airport  book transfer in Sochi   Sculpture  traffic jam  Russian politics  Princes  Science  Russian startups  Festivals in Moscow  travel to Russia  Desyatinny Monastery  City Hunter  Uzdunrobita  Chechen republic  Russian regions  Krasnodar  Mercedes-Benz Fashion Week Russia  Balashov  VDNKh  Darwin Museum  Russian Film Distribution  Russian theatre  Fires  Soviet Architecture  Russian Literature  Photography  Russian business  Russian tourism  Samara  Hermitage Museum  Golden Magic of 21st Century  Un-Convention Hub  stock markets  Exhibitions in Moscow  Large Hadron Collider  Moscow  Russian painters  Primorye Territory  taxation system  

Travel Blogs
Top Traveling Sites