Results 1 to 4 of 4

Thread: So what would be the effects if the Ukrainian invasion causes SWIFT to be cut?

  1. #1
    Join Date
    May 2010
    Location
    Санкт Петербург
    Posts
    463
    Thanked: 49

    So what would be the effects if the Ukrainian invasion causes SWIFT to be cut?

    Would I still be able to use my USA-based credit/debit card?

  2. #2
    Join Date
    Jul 2004
    Location
    here,since many years
    Posts
    22,542
    Thanked: 5220
    Quote Originally Posted by swampwiz View Post
    Would I still be able to use my USA-based credit/debit card?
    I always hear SWIFT only. what about the BIC codes▀ they are being used as well. Not once have I heard anything about them.https://www.theswiftcodes.com/
    There is no greater treasure then pleasure....

  3. #3
    Join Date
    May 2016
    Location
    Dinskaya, Krasnodarskiy Kray, Russia
    Posts
    197
    Thanked: 146
    Quote Originally Posted by Benedikt View Post
    I always hear SWIFT only. what about the BIC codes▀ they are being used as well. Not once have I heard anything about them.https://www.theswiftcodes.com/
    BIC codes are simply the identifier of firms that use SWIFT, for example SABRRUMM identifies SberBank Moscow. They are not an exclusivity of SWIFT (the structure is defined in an ISO standard) and nothing prevents them being used in other contexts. However, SWIFT administers the codes and so this might cause a problem for any new code being created.

  4. #4
    Join Date
    May 2016
    Location
    Dinskaya, Krasnodarskiy Kray, Russia
    Posts
    197
    Thanked: 146
    Quote Originally Posted by swampwiz View Post
    Would I still be able to use my USA-based credit/debit card?
    As far as I know, the credit card companies do not use SWIFT for processing transactions. The likelihood that US credit card companies would continue to service Russia in the event of the US government imposing sanctions on Russia is, nevertheless, extremely slim.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •