News

The Central Bank allowed individuals to transfer abroad up to $ 1 million per month

On June 30, 2022, the Central Bank of the Russian Federation raised the monthly limit for transfers of individuals to their foreign accounts or to another person to $1 million from $150 thousand.

"From July 1, 2022, Russian resident individuals have the right to transfer no more than $1 million or the same amount in equivalent in another foreign currency from their account in a Russian bank to their account abroad or to another person within a calendar month," the Bank's message reads. Russia.

The head of the Central Bank of the Russian Federation Elvira Nabiullina said a day earlier that the limit on money transfers abroad may be revised in the direction of its significant increase.

The Central Bank introduced a restriction for currency transfers of Russian residents-individuals from March 5. It was allowed to transfer money abroad in the amount of no more than $ 5 thousand per month. On April 1, the Central Bank softened the limit on the amount for transfers of funds abroad for individuals to $ 10 thousand. On May 16, the Bank of Russia again raised this limit to $ 50 thousand.

The last time the Central Bank raised the monthly limit of transfers by Russians and individuals from friendly countries to their foreign accounts from $50 thousand to $150 thousand per month from June 8. The Central Bank also increased the monthly limit of transfers through companies that provide money transfer services without opening an account for residents and non-residents from friendly countries to $ 10 thousand.