Former clients of Raiffeisenbank found a way to transfer currency through OTP Bank

After Raiffeisenbank stopped making foreign currency transfers for most clients, legal entities began to en masse transfer to the Russian subsidiary bank of the Hungarian OTP group OTP Bank. Vedomosti reported this with reference to the bank's importer clients.

As a result, OTP Bank began to return part of the payments to the EU in euros: they were rejected by the head bank, which acts as a correspondent for the Russian subsidiary for payments in European currency.

As the bank's clients from among the importers told the publication, the Hungarian OTP does not have time to process the increased flow of transactions within the ten days established by internal regulations and returns the money after this period.

However, if, according to the recommendation of the Russian OTP Bank, you make a second transfer, then it may pass on the second try.

From September 2, Raiffeisenbank stopped making money transfers to individuals in foreign currency, except for a limited number in large and international businesses. As representatives of the bank stated, “the restrictions are related to the decision of the RBI Group in connection with the instructions of the ECB.” Transfers abroad are now only available in rubles, Belarusian rubles and Armenian drams.