The Bank of Russia spoke about the successful launch of transfers to Belarus through the SBP


The pilot for the launch of transfers to Belarus through the fast payment system (FPS) was successfully completed in December. This was announced on Friday, February 17, by Olga Skorobogatova, First Deputy Chairman of the Bank of Russia, on the sidelines of the Ural Cybersecurity Forum.

“The pilot was successful, it was in December, now my colleagues from Belarus and I are making a roadmap for scaling up the work of our two systems,” she told reporters.

Earlier that day, the Tinkoff support service said that money transfers through the SBP to 50 banks in Armenia, Kyrgyzstan, Uzbekistan and Tajikistan became available to citizens.

They explained that the bank acts as a provider between the SBP and foreign credit institutions. In this case, operations are carried out in rubles with conversion on the partner’s side. Users can send free payments abroad within the limit, if this amount is exceeded, the commission will be 1%. The transfer should arrive at the recipient’s account within a few minutes, the support service added.

Earlier, in June 2022, it was reported that six credit institutions — VTB, Dom.rf, PSB, MKB, Renaissance Credit and MTS-Bank — plan to launch transfers to Belarus through the SBP.

Later, in October, two Izvestia sources in the payment market said that Armenia and Kazakhstan could become new directions for cross-border transfers through the fast payment system.


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