Tinkoff Bank has once again reduced the list of countries to which customers can make currency SWIFT transfers. The list was expanded in mid-October.
As it was. Since May, Tinkoff has stopped SWIFT transfers in euros, and since July – in all foreign currencies. From August 10, the bank lifted the restriction for customers with a premium subscription.
On October 25, the bank’s customers and journalists noticed that without a premium subscription, SWIFT transfers to banks in Armenia, Azerbaijan, China, Uzbekistan, Georgia, Kyrgyzstan, Belarus and Mongolia were again available. By data Frank Media, the restrictions began to be lifted on October 14th.
The bank’s support service then reported that they were “slowly establishing workarounds with the nearest countries.”
How did it become. October 27 edition of Frank Media reportedthat Tinkoff has reduced the list of countries where you can send SWIFT transfers in foreign currency. Georgia, Kyrgyzstan, Belarus, Tajikistan and Mongolia were removed from the list – in the list on the website stayed “some banks” of Armenia, Azerbaijan, Uzbekistan and China. In a support message that leads Frank Media, only banks in Armenia, two banks in Uzbekistan and some banks in China are mentioned.
In the Tinkoff support service to Frank Media confirmedthat the bank had to “turn off some SWIFT transfers”. The reasons are not named.
Sanctions. Tinkoff Bank itself was not subject to EU and US sanctions. However, sanctions against the Russian financial system have forced even non-sanctioned banks to turn off or restrict SWIFT transfers abroad due to the difficulties of working with counterparties.
In “Tinkoff” complainedthat Western counterparties are constantly tightening their requirements and processing fewer and fewer payments from customers from Russia – because of this, transfers could take several weeks to reach the addressee.
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