OREANDA-NEWS. December 23, 2010. Sviaz-Bank offers a new service to its corporate customers who can now make cashless transfers through the Russian Express Electronic Bank Payments (EEBP) system* that transfers payments between its members at a high speed, its principal advantage over other fund transfer systems, reported the press-centre of Sviaz-Bank.

Funds are credited to the recipient’s account actually in real time, speeding up settlements significantly, particularly in interregional payments, and making money turn over faster.

Settlements are effected through the system with consideration for Russia’s 11 time zones, from 2:00 to 21:00 hours Moscow time.

* EEBP System is a real-time gross settlement system centralized at the federal level by the Bank of Russia for express payments to be made in the currency of the Russian Federation.