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Banks massively introduce fees for storing currency
Now six banks out of the top 20 in terms of funds raised have commissions for foreign currency accounts
There are such commissions in:
Raiffeisen Bank,
“Tinkoff Bank”,
Citibank,
“St. Petersburg”,
“Uralsib”
RNKB.
Promsvyazbank
Rosbank spoke about plans to introduce such a commission by the end of June.
Banks outside the top 20 are also reporting similar fees. In particular, this was stated by the Avangard bank.
Interestingly, modern Russian legislation now obliges the bank to pay interest on deposits and accounts. That is, negative rates on deposits are actually prohibited. Accordingly, banks go for tricks: 0.01% – interest and 0.2-0.5% – commission for storage or for operations.
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