OREANDA-NEWS OTP Bank, which is the Russian "daughter" of the Hungarian OTP Bank, which remains one of the few foreign banks that continue to operate in the Russian Federation, will tighten the conditions for transfers in European currency. This is reported by RBC.

It is noted that, according to the new tariffs of the credit institution, fees for transfers in euros in mobile and online banking will now amount to 3 percent of the transfer amount instead of the current 2 percent. For transactions carried out in bank branches, they will increase from 4 to 5 percent. At the same time, the maximum amount of the commission itself will increase 2.5 times, to 1,000 euros, and the minimum will almost double — from 80 to 150 euros.

The relevant decisions will come into force on September 2. On the same day, Raiffeisenbank, which is implementing a plan to stop working on the Russian market, will stop conducting currency transfers.

OTP Bank, like the "daughter" of the Austrian bank, is under pressure from Western government institutions demanding to withdraw from cooperation with Russia. So, in June, the Central Bank of Hungary announced that OTP Bank should reduce the volume of corporate loans and deposits in its Russian structure.