Tinkoff Business opens an account for its first foreign customer

By Edil Corneille

Tinkoff Business has announced today that independent travel search service – Aviasales, has decided to get involved in a payroll project for its Thai office in addition to its Russian accounts with Tinkoff. Under the project, Thai employees of Aviasales have their wages credited to Tinkoff cards in US dollars and can withdraw them in local currency (bahts).

Tinkoff Business started opening accounts for foreign companies operating in Russia and businesses launching branches abroad. A current account for Aviasales was opened where they were helped in terms of delivery of payroll cards to Phuket, Thailand. The company is said to be the first customer to benefit from these services.

Under the project, Tinkoff grants special terms on deposits and loans and does not charge an annual fee on the Tinkoff Black cards. Employees of a company enjoy all the Tinkoff Black card benefits, including:

• 3.5 percent per annum accrued on the account balance and an up to 30 percent cashback in one of 30 currencies.
• Switching between foreign currency accounts in the mobile app and currency purchases at a rate close to the FX trade.
• Withdrawals in any of the 30 card currencies from ATMs globally.
• Finance management in the app.
• Issuing additional cards to the family. The cards are linked to the account and may be used both in Russia and worldwide.

Tinkoff Business serves 600,000 accounts of Russian businesses. It now offers accounts and payroll projects to foreign companies that operate in Russia, among other countries. The benefits include:

• Free payroll service regardless of the number of cards.
• Salary transfer against the payroll and the payment of personal income tax in the app, with an option to add new staff and view all transfers.
• Immediate crediting of salaries.
• Individual terms for foreign businesses and card delivery across the globe.

Fedor Bukharov, Vice President at Tinkoff, Head of Tinkoff Business elucidated, “Our technologies have no boundaries enabling employees of our payroll customers to get their wages both in roubles in Russia and in the most advantageous foreign currency wherever they work.

With digital banking gaining traction, modern businesses can arrange for their people to work from any corner of the globe, which makes our payroll project a convenient option for them.”

Mikhail Arutyunyan, Aviasales CFO enunciated, “There is nothing like Tinkoff products in Thailand, which puts our payroll project with this bank two steps ahead of local solutions. On top of that, a card from the Russian bank is indeed a viable option for our people to maintain social ties with their family and friends at home.”