Central Bank Reveals Details About SBP Transfers in 2024

From 2024, Russians will be able to transfer up to 30 million rubles via SBP without commission

From May 1, 2024, Russians will have access to SBP transfers without commission between their accounts in different banks up to 30 million rubles per month, the Central Bank reported.

Transfers to other individuals via SBP without commission - up to 100 thousand rubles per month. For transactions exceeding this amount, the commission is 0.5% of the transfer amount, but no more than 1.5 thousand rubles.

As part of the SBP loyalty program, the Central Bank has canceled commissions on a number of operations. In particular, zero tariffs will apply to banks for transferring cashback to clients.

It is noted that the grace period for banks, during which they do not pay commission to the Central Bank for transfers between clients, is valid until July 1, 2024. Then the regulator introduces a zero tariff for these transactions indefinitely.

It was previously reported that from 2024, the Central Bank is launching a pilot project to use the digital ruble in the budgetary sphere.

Sources
Centrobank

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