19.11.2021, 16:36
Money Transfers in Russia Turned out to Be One of the Cheapest in the World
Source: OREANDA-NEWS
OREANDA-NEWS. Russia has become one of the countries where the cheapest money transfers are made. This follows from the World Bank report.
“In Russia, which is one of the cheapest senders in the world, the cost of transfers fell from 1.8% to 1%,” the report says.
Also, in terms of the share of GDP, remittances to Kyrgyzstan and Tajikistan account for more than 25%. The average cost of transferring $ 200 to these countries has increased slightly. In the first quarter of 2021, the increase was 0.1% to 6.6%, compared to last year's figures.
World Bank analysts predict that the volume of remittances to Europe and Central Asia, which decreased by 8.6% in 2020, will grow by 5.3% in 2021 to reach $ 67 billion. This will be due to the economic recovery in the EU countries and a jump in energy prices.
Earlier, Yegor Krivosheya, head of research at the Center for the Study of Financial Technologies and the Digital Economy at Skolkovo-NES, named several ways that will help save money on money transfers.
According to the expert, you can transfer money up to 100 thousand rubles through the Fast Payment System free of charge. To do this, you need to bind the phone number in the bank to the SBP, through a mobile application or in any branch. At the same time, it is better to make transfers for larger amounts within the same bank from account to account. Krivosheya advised to always check the information on commissions before transferring. In addition, the specialist advises against resorting to personal transfers to the card for payment, for example, to store employees. He recalled that under Russian law, transfers to a personal card for commercial purposes, such as payment for goods and services, are prohibited.
“In Russia, which is one of the cheapest senders in the world, the cost of transfers fell from 1.8% to 1%,” the report says.
Also, in terms of the share of GDP, remittances to Kyrgyzstan and Tajikistan account for more than 25%. The average cost of transferring $ 200 to these countries has increased slightly. In the first quarter of 2021, the increase was 0.1% to 6.6%, compared to last year's figures.
World Bank analysts predict that the volume of remittances to Europe and Central Asia, which decreased by 8.6% in 2020, will grow by 5.3% in 2021 to reach $ 67 billion. This will be due to the economic recovery in the EU countries and a jump in energy prices.
Earlier, Yegor Krivosheya, head of research at the Center for the Study of Financial Technologies and the Digital Economy at Skolkovo-NES, named several ways that will help save money on money transfers.
According to the expert, you can transfer money up to 100 thousand rubles through the Fast Payment System free of charge. To do this, you need to bind the phone number in the bank to the SBP, through a mobile application or in any branch. At the same time, it is better to make transfers for larger amounts within the same bank from account to account. Krivosheya advised to always check the information on commissions before transferring. In addition, the specialist advises against resorting to personal transfers to the card for payment, for example, to store employees. He recalled that under Russian law, transfers to a personal card for commercial purposes, such as payment for goods and services, are prohibited.
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