OREANDA-NEWS. April 09, 2013. The Microfinance Bank “Bai-Tushum and Partners” joined the CONTACT payment system in March 2013. Customers of the Bank can transfer money via the Contact network without opening accounts to CIS countries, Baltics, Georgia and more than 100 foreign countries.
 
Money transfer fees are from 0.75 % to 3 % depending on the direction, currency and amount.
 
The CONTACT provided different forms payment of money transfer– in cash in 100 countries all over the world or transfer to bank account, opened in any bank of Russia, Europe, USA, India and Turkey. It is possible to receive the CONTACT money transfer in any outlets of the system in country territory, indicated in money transfer application.

In order to develop the CONTACT system in Kyrgyzstan, “Bai-Tushum and Partners” in cooperation with the CONTACT system are carrying out the campaign “Successful CONTACT money transfer – 33% discount”, for money transfers to Abkhazia, Azerbaijan, Armenia, Belorussia, Georgia, Kazakhstan, Kyrgyzstan, Lithuania, Latvia, Moldova, Russia, Tajikistan, Uzbekistan, Ukraine, Estonia, and South Ossetia. The campaign is extended from March 22 to June 30, 2013.

Fees charged to sender during the campaign are:

1% out of transfer amount, if this amount is less than 175,000 Russian roubles or 4950 US dollars/euro;

50 US dollars/euro per transfer, if the transfer amount in US dollars/euro equals to or exceeding 4950 US dollars/euro;

1750 Russian rubles, if transfer amount in rubles is equal to or exceeding 175,000 Russian rubles.

Moreover, “Bai-Tushum and Partners” became the participant of the international payment system SWIFT with appropriated code BBTPKG22. The introduction of the Bank to SWIFT system became the new step in development of international operations of the Bank, which allows providing the clients speed and reliability of carrying out international payments, and open additional opportunities to the Bank for development of interbank correspondent relations with the foreign partners.

Reference Information:
The CONTACT payment system operates since 1999, registered in the unified register of payment system operators of the Central Bank of Russian Federation under no. 0001. The founder is CJSC “RUSSLAVBANK”, which performs functions of financial settlement, payment, clearing and operations centers for the System. The CONTACT system laid the foundation of the money transfers national market formation and today the System is one of the leaders of payment-transfer services market in Russia and neighboring countries.

The CONTACT partners are over 900 financial institutions in Russia and around the world, forming extensive network of service outlets - more than 270,000 outlets, including payment terminals in more than 110 countries. The CONTACT system transfers payments to more than 850 legal entities - commercial banks, commercial enterprises, insurance and travel companies and their agents, and Internet service providers, communication service providers etc. Annually millions of customers around the world use the CONTACT system. The CONTACT system is the winner of Russian awards “The Brand #1 in Russia” in the category “Money Transfer” in 2011 and 2012, and the winner of the National Award “The Company of the Year 2012” in business area.

S.W.I.F.T. (Society for Worldwide Interbank Financial Telecommunication) - the network for worldwide interbank financial telecommunication was founded in 1973 and was supported by 239 banks in 15 Europe and North America countries. The main purpose of the worldwide interbank network is to send and receive information about financial transactions in a secure, standardized and reliable environment. Today SWIFT linked more than 8,000 lending and financial institutions, banks, leading industrial companies from 206 countries. The key goal of the interbank SWIFT system is reliable secure from unauthorized access to financial messages among financial institutions worldwide countries.