“After the suspension of transfers by the Austrian Raiffeisenbank, the Hungarian “OTP Bank” became the main method of payments between the Russian Federation and the EU.”, — write: www.epravda.com.ua
After the suspension of transfers by the Austrian Raiffeisenbank, the Hungarian “OTP Bank” became the main method of payments between the Russian Federation and the EU.
About this informs The Moscow Times.
Russian companies have started moving to Hungarian OTP Bank from Austria’s Raiffeisenbank in droves after the latter introduced new restrictions on currency transfers.
Due to the influx of business customers, the main OTP bank does not have time to process transactions. As a result, part of payments in euros is returned to Russia.
According to the internal regulations of OTP, the maximum term of the transaction is 10 days. If the main bank did not manage to complete the operation on time, the funds are returned.
On September 2, Raiffeisenbank stopped making outgoing transfers in foreign currency for all clients, except for large and international corporations.
Raiffeisenbank announced the restrictions in advance, and as a result, in August, the balances on the accounts of non-state companies fell by 9.6% – to 531 billion rubles. During this time, the amount of funds of corporate clients of “OTP Bank” increased by 6.2% – up to 110.5 billion rubles.
We will remind:
Arbitration Court of the Kaliningrad Region of the Russian Federation imposed seizure of shares of the Russian Raiffeisenbank as security for the claim of Rasperia Trading Limited.
Raiffeisenbank stops carry out money transfers of individuals in foreign currency.