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The central bank will reset commissions for banks in the quick payment system
The Board of Directors of the Bank of Russia decided to reset its tariffs for banks in the quick payment system (SBP). This will affect transfers between individuals and will allow credit organizations to provide services to customers free of charge or at minimal rates.
Last year, banks already had a grace period with no commissions to SBP, and most credit organizations provided services to customers free of charge. According to the press service of the regulator, the Central Bank will continue to monitor commissions for customers. In case of violations, the Central Bank will establish an upper limit for such commissions.
The new grace period will begin to operate on April 1 of this year and will last until June 30, 2022. The Bank of Russia believes that this will help reduce the costs of the banks themselves and establish minimum tariffs for customers.