SBERBANK LAUNCHES INSTANT MONEY TRANSFERS ABROAD

HomeNewsSBERBANK LAUNCHES INSTANT MONEY TRANSFERS ABROAD

The cost of the service is 1% of the transferred amount

The Russian Sberbank launched instant money transfer service through a smartphone application to any of the CIS countries and some of Russia's closest neighbours. The list of the countries will be expanded in the future. The cash can be received at any Western Union service points in the country of destination. The new service was announced by the press office of the Russian state-owned Sberbank.

The transfer can be made via the Sberbank Online mobile application by filling out the full name and phone number of the addressee, Sberbank explains. The cost of the service is 1% of the transferred amount, regardless of the country of destination. “A preferential conversion rate is provided for transfers to foreign currency accounts,” noted the bank.