Reviews of Russian Banks

Choosing the right bank for your needs is crucial when living in Russia. There are many different options available. Some banks offer loans and mortgages for expats, while others offer a wide range of investment options and insurance products. You can also open an account online. Additional info found at отзывы о банках.

The Russian banking industry has grown dramatically in recent years. Its top two banks, Sberbank and VTB, account for more than half of the banking system's assets. Many larger banks offer mortgages and loans for expats living in Russia. Most major banks also provide online banking services, which allow you to make and receive transfers, send and receive money, and check balances. In addition, most banks offer debit cards for everyday spending.

Most foreign credit cards are accepted in Russia, with some restrictions. You may have to pay foreign transaction fees and currency conversion fees. Also, some banks require you to provide proof of your identity when opening an account. You may be asked to provide a letter from your employer, if you are planning to make payments to a company outside of Russia.

The Russian banking industry is highly regulated. It is controlled by the Central Bank of Russia, which issues banking licenses and supervises all banks. The Bank of Russia also offers information on the financial market. It is also planning to create a unified register of financial organizations, which will include all companies authorized to provide financial services.

Banks offer a wide range of credit cards, which are typically fee-free. Many banks offer debit cards that use contactless technology, so you don't need to enter your PIN number. Some credit cards have an annual fee. Some banks also charge a fee for reissued debit cards.

If you are looking to save money, you can open an instant access savings account with a low interest rate. You may also be able to get lower fees if you open an account with a foreign currency. Many banks also offer loans for permanent residents in Russia. If you plan to travel outside of Russia, it may be wise to open an account in a different currency.

Most banks in Russia offer debit cards with contactless technology, which allow you to make payments without entering a PIN. Some banks also offer health insurance plans. There are also a range of investment options available, including funds in the British Virgin Islands, Singapore, Luxembourg, and Cyprus. Some banks may also offer company loans for your business.

You can also apply for a Russian credit card separately. Many banks provide instructions in English, but you will need to provide some information about your income. Some banks also require a proof of identity or an employment letter. Some banks also charge a fee for cashing checks. You should also be careful if you are using an isolated ATM at night.

Some banks offer international wire transfers, but you may have to pay a fee of between 1% and 2% of the amount you are sending. You can use the bank's website to request money, but some banks also require you to send a letter stating your intent.