Transactions are blocked and access to money will be no earlier than six months.
Until recently, the population and business in Russia actively used Visa and MasterCard. Small businesses bought goods, for example, in China. Large businesses evaded taxes through such transactions. The population, in turn, made various payments, including paying on loans.
When panic broke out in Russia after the start of the war in Ukraine, large sums of money began to be transferred through Visa and MasterCard cards. Now it has become known that at least part of the amount has hung and it will be returned no earlier than six months. The amount in question is unknown.
“International transactions on Visa and MasterCard cards have been blocked for two weeks, and deposits that banks kept in these systems in case of payment problems promise to be returned in six months and not to everyone. Meanwhile, the NSPK demanded guarantees from banks to guarantee domestic transactions on international payment system cards, which provided them and accepted the associated risks. To cover them, the system does not require money, but the guarantee of another credit institution, which now does not cause problems only for those who have a subsidiary bank, “- write RossMI.
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It will be recalled that on March 6, the Visa and Mastercard payment systems officially announced that they were completely shutting down work in Russia .
