For Students

FOR STUDENTS
Information from the Ministry of Education on possible ways of money transfer to Russia from abroad

Visa and MasterCard international payment systems have announced the suspension of their operations in Russia.

Therefore, cross-border transfers using VISA and MasterCard cards issued by Russian banks are not available. This applies both to paying for purchases in foreign internet shops and using these cards abroad to withdraw money and pay for purchases.

Transfers and payments using VISA and MasterCard cards issued by foreign banks will not be available in Russia. It is not possible to withdraw cash from these cards in Russia.

International payment system cards such as VISA and MasterCard issued by Russian banks will continue to work normally in Russia until their expiration. Holders of these cards in Russia will be able to make transactions at ATMs, pay with the cards, and make card-to-card transfers. You can use your MIR card or the Bank of Russia's Quick Payment Service (СБП) to make payments within Russia.

Current methods of cross-border money transfers to and from Russia:

1. Using a MIR card for the countries where it is accepted: Turkey, Vietnam, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, South Ossetia and Abkhazia.

2. Using UnionPay International (China) payment system cards.

3. Classic bank cross-border transfers to current accounts, except for accounts opened in Russian banks, which are disconnected from SWIFT (VTB, “Rossiya” Bank, “FC Otkritie”, Sovcombank, Promsvyazbank and Novikombank). Transfers from Russia to countries which have not joined the US and EU sanctions can be made to close relatives in an amount not exceeding USD 5,000 per month.

4. Using money transfer systems such as Zolotaya Korona (Golden Crown) and Western Union, however there are restrictions on the size and conditions of cross-border money transfers, which can be clarified on the websites of these systems or at the branches that carry out such transfers.

Recommendations for students:

1) Open an account with any Russian commercial bank that has not been hit by sanctions, but not with Sberbank, which closes its US dollar correspondent accounts starting March 26, 2022. After opening the account, it is necessary to get its details for money transfer via SWIFT and send them to relatives, who can transfer money to this account from their account in a foreign bank.

The student can, after receiving the money in his/her account at the Russian bank, convert it into roubles and pay in Russia with a MIR card.

2) Open a UnionPay International (China) card and give the transfer details to relatives.

3) Contact Zolotaya Korona or Western Union and inquire about the possibility of receiving a money transfer from your home country.