| Incredbank was the first to set the commission for money transfers below 1%. The bank announced that from its offices using the Leader system it is possible to send transfers in rubles throughout Russia, as well as to Armenia in dollars, euros and rubles for only 0.95% of the transfer amount. Experts estimate the potential of the market for money transfers to CIS countries at $10 billion. Until recently, the standard commission was considered to be 3%, but growing competition had already brought its level to 1%, and market participants expected a further reduction in rates on money transfers. “This is not a new round of commission wars. This is normal competition for clients. Many of them are migrants from CIS countries, visiting workers, for whom 1.5 and 0.95% is a significant difference. This service will become as convenient and commonplace as, for example, paying by card in a store. And commissions will continue to decline. At least in the Leader system we will strive for this,” said Ivan Stankevich, Deputy Chairman of the Board of Incredbank. Nikolay PETROV | |
