VTB Online now allows users to transfer money to around 100 countries via Visa, Mastercard & UnionPay

By Megha Bhattacharya

Russia-based VTB stated that its users will now be able to transfer money to more than 100 countries on Visa, Mastercard and UnionPay cards. Customers can make online transfers to Visa cards in 64 countries, including the European Union, the CIS and Southeast Asia. Transfers to Mastercard cards are available for 103 countries. The maximum amount per transfer is 100,000 rubles (US$1,300). The money will be credited to the account instantly with 1.5% of the amount as commission.

“This spring, VTB launched a card-to-card transfer service around the world, at that point users were able to send money to 20 countries worldwide. Today we have increased this number, and now transfers are available in more than 100 countries. It is important that funds are credited to the account instantly. We plan to further develop this service and expand the number of countries available for transfers,” said Nikita Chugunov, Head of the Digital Business Department, Senior Vice President of VTB.

VTB stated that customers will need to select the Payments tab in the lower menu, open the “To other countries” section, and select “transfer from card to card”. In online banking, this operation can be found in the top menu in the “Transfers” tab.

VTB Online said that its users have made the greatest number of transfers to Kazakhstan, Belarus, and Georgia.

Recently, VTB Capital Investments announced the launch of its comprehensive savings management service for users of Yandex in Russia. The company said that the new service would enable the citizens to invest online in traditional products including bonds and shares available on the Moscow and St. Petersburg stock exchanges.

“VTB has been working on the development of transfer services for a long time, and expanding the geography is an important stage for both the bank and its clients. VTB will continue to implement up-to-date acquiring technologies, increasing the opportunities for transfers between people, making them closer to each other,” added Alexey Kirichek, Vice President, head of VTB’s Acquiring Department.