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waynemx5
24-11-2009, 15:39
Hi,

I will be moving to Moscow in the new year to work for a Russian company. I will be paid in Rubles into a Russian bank account. I will be working mostly from Moscow, but also from the UK so I will need my money in both countries, so I have a few questions :-

1) Are there any banks in both Russia and the UK, where I can be paid in Russia and my money will also be available in the UK?

2) When joining a Russian bank, will I be allowed a credit card, overdraft etc as the Russian bank will have no credit history about me?

3) If there is no bank accounts in both countries, what are the charges of transfering to an English bank and how long does it take?

Many Thanks

Wayne

tvadim133
24-11-2009, 15:48
[QUOTE=waynemx5;601447]Hi,

I will be moving to Moscow in the new year to work for a Russian company. I will be paid in Rubles into a Russian bank account. I will be working mostly from Moscow, but also from the UK so I will need my money in both countries, so I have a few questions :-

1) Are there any banks in both Russia and the UK, where I can be paid in Russia and my money will also be available in the UK?- credit (debit) card for example VISA and Mastercard will be an option for you. Try to use the internation bank which has branches in UK to illiminate the % comission for cashing (for example: City Bank).

2) When joining a Russian bank, will I be allowed a credit card, overdraft etc as the Russian bank will have no credit history about me?-

in 6 months it will be wothout any problems (you should proof sometimes your incomes level withing 6 months in the country) with the letter from your company. But may be there are some more options with the same bank, where you will have an account for transferring salary from your company (+ there will be no problem with American Express, but it is not very used in Russia).3)

If there is no bank account in both countries, what are the charges of transfering to an English bank and how long does it take?- it will be very complicated (set of document). If you need it privately, just send cash via Western Union to yourelf or buy American Express checks.

m

Remington
24-11-2009, 16:20
1) Are there any banks in both Russia and the UK, where I can be paid in Russia and my money will also be available in the UK?

Nope. There are banks like HSBC in Moscow but they're different entity like all other banks. You probably can get Premier account with HSBC to handle all the international accounts for you but it's expensive. You can use your Russian ATM card in UK but you will incur usage fees.


3) If there is no bank accounts in both countries, what are the charges of transfering to an English bank and how long does it take?

It varies from bank to bank. Average is around $20 - $30 and turnaround time is usually 2 to 3 days. You will need to have bank routing information to do the wire transfers.

GaNozri
24-11-2009, 16:26
MasterBank offers free cash withdrawals from any ATM anywhere in the world, as long as you keep a minimum monthly balance of 1.3 million rubles (or $ equivalent) with them.

Remington
24-11-2009, 16:38
MasterBank offers free cash withdrawals from any ATM anywhere in the world, as long as you keep a minimum monthly balance of 1.3 million rubles (or $ equivalent) with them.

Technically, it's not free since majority of non-MasterBank ATMs still charge usage fee and anyone will be insane to keep 1.3 million rubles in their bank accounts in Russia with economy crisis going on.

GaNozri
24-11-2009, 18:10
Technically, it's not free since majority of non-MasterBank ATMs still charge usage fee and anyone will be insane to keep 1.3 million rubles in their bank accounts in Russia with economy crisis going on.

They reimburse the fees. So, where should one keep it? Under the mattress?

Remington
24-11-2009, 18:26
They reimburse the fees. So, where should one keep it? Under the mattress?

That or spend it all like there's no tomorrow.

tvadim133
24-11-2009, 18:29
That or spend it all like there's no tomorrow.

that is quite russian way of living still.... and I would say it makes sence sometimes.

Sasha girl
24-11-2009, 19:00
[QUOTE=Remington;601463]Nope. There are banks like HSBC in Moscow but they're different entity like all other banks. You probably can get Premier account with HSBC to handle all the international accounts for you but it's expensive. You can use your Russian ATM card in UK but you will incur usage fees.


HSBC is OK. UK premium account cost about 12 a month. They do only premium accounts in Moscow. But you don't pay anything for this, the only condition is that your balance shall be over 70,000 rur on your account startin a month from the openning. So if you have or open HSBC premium it is very convient. And you can transfer funds between your accounts free of charge.

trebor
24-11-2009, 19:17
I used to bank with Sberbank and my contract was in Euros, paid in rubles at the Central Bank rate on pay day.
I then changed the rubles back into Euros (I was only faced with one set of charges as the first conversion was done by the company's accountant in the office at the CB rate)
I then paid them into my Euro account, then i transferred them to an offshore bank (with a Visa debit card good in ATM's worldwide)
I remember the Telegraphic Transfer was long, lot's of queuing, form filling but not that expensive. In fact, no more expensive than any other international bank. I started to get used to the system in the bank too after a while. Although i wouldn't recomend it.
I would do the transfer every 2/3 months to save time in the bank, leaving enough in Russia to live on.
You'll need a passport, visa and registration to open an account and to effect the Telegraphic Transfer. Takes a couple of business days to do the transfer.

In my opinion Sberbank is the biggest bank in Russia, therefor the safest. No minimum balances either if i remember correctly.

Sebstg
04-01-2010, 02:34
Yes I agree with HSBC. I got an account in my native country, free of charge (just negociated, normally 11 / month)..

and with the credit card I just go to ATMS to Max-withdraw (8K RUR per withdrawal, up to 64K / week or so) when needed

Seano90
11-01-2010, 23:43
Do any of the Russian banks offer internet banking ?

orlando771
12-01-2010, 09:59
there is a Turkish bank called Ziraat bank.. in russia zerbank. and they have branches all over the world and if you have an account there you can transfer any amount with very little charge, before i used wetern union but it was very expensive, their fee for 1000 usd is only 25 usd. and for 2000 is 40..

K69
14-07-2010, 23:32
Do any of the Russian banks offer internet banking ?

Sure, several of them do. VTB24, for example (telebank.ru). You may keep several accounts in various currencies there, and arrange all the operations via Internet (supported with a variable key-code system), or, also, via phone-service. However, as I remember, their website is in Russian only.
And, VTB charges are less in comparison to many international banks operating in Russia.
Of course, there are also other banks in Russia, offering internet banking (with higher charges) - like, for example CityBank, or Raffaisen,...

EdwardBentley
27-07-2010, 13:07
Hi,

I'm looking for people who've had good or bad experiences of banking in Russia. What have been the obstacles, what services have they offered that are good or bad? Please send me a private message or post here with any stories you may have.

This is for an article for The Moscow News.

Thanks.

trancophile
05-08-2010, 20:04
Hey all, I just want a credit card to buy flights on kayak/expedia and the like.

Which bank is best?

asergeeva
06-08-2010, 02:08
Which bank is best?

Citybank has good service, but it's not profitable.
I prefer Unicredit, as it has good service and internet-banking in Russian and English.
My huspand use Raiffeisen, but they have difficult system of the offices (they have two systems of the offices and if you open the account in one system, then you couldn't use the office of another one).

This is my experience.. You could also read the recent article in Moscow Times..

If you have difficulties in communication with managers in the bank - we can help you. Just write me PM ))

trancophile
06-08-2010, 09:24
Yes, I read the article. Most of it was written based on the information here on the forum.

I''ll go with whoever is easiest. I only want the ability to make online purchases. I've a Mastercard from home, but it's easier to use a card here where I can pay the balance off easier.

Cheers for advice.