Questions about the Current account

A current account is used for short-term storage or management of funds — when you need to receive or transfer an amount to another account or card. 

The account may only be opened in the name of the Client. 

A client may be an individual over 14 (fourteen) years of age.

The Central Bank of Russia introduced a new procedure for issuing cash from foreign currency accounts and deposits. It applies to all Russian banks. The new rules came into effect on March 9, 2022 and will remain in force until September 9, 2026

If funds were credited to your foreign currency accounts before 00.00 hours (MSC) 09.03.22, you may withdraw cash in US dollars and euros, but not more than USD 10,000 in total across all accounts. If the account is opened in another currency, automatic conversion will be made at the Central Bank rate set for the day of withdrawal. If accounts are opened in different banks, you may withdraw up to USD 10,000 from each of them. You may withdraw the remaining amount in Russian rubles at the Central Bank rate set for the date of withdrawal. 

If funds were credited to your foreign currency accounts from 00.00 hours (MSC) 09.03.22 to 00.00 hours (MSC) 09.09.22, you may withdraw cash in Russian rubles at the Central Bank rate set for the date of withdrawal.

If funds were credited to your foreign currency accounts after 00.00 hours (MSC) 09.09.22, you may withdraw cash in Russian rubles at The bank rate set for the date of withdrawal.

You may withdraw funds at the cash desk of any bank branch convenient for you. There are no restrictions on ruble deposits and accounts; funds in the accounts are safe, and all transactions are available at any time.

Conversion of funds in the Account in cash funds is carried out at the exchange rate set by The bank on the transaction date for cash and non-cash Conversion. In this case, Conversion may be carried out only upon agreement with The bank, subject to The bank having such capability, including if the Point of Sale cash desk has foreign currency of the relevant type available at the time of the transaction, and if the Point of Sale conducts transactions in such foreign currency.  

If you plan to withdraw more than 300,000 rubles in cash on a given day (or the equivalent in another currency at the Bank of Russia exchange rate on the order date), you must submit a prior order to The bank (at a bank office or by phone) at least 2 business days before the day of receiving cash from The bank 

A current account may be opened  

• by the Client independently, while being personally present at the account opening;
• by the Client's legal representative (for example, a guardian or custodian);
• by the Client's representative acting on the basis of a power of attorney. 

All transactions on the Account are carried out within the available balance of funds in the Account.  

If the amount of funds is insufficient to complete a transaction and pay the Bank's fee, transactions are not carried out.

Funds are insured up to 1.4 million rubles (or up to the equivalent amount in foreign currency as of the date of the insured event) across all accounts with The bank. 

No fee is charged for cash withdrawal at the cash desk from an account for non-cash funds that have been in the account for more than 30 calendar days, when withdrawing funds previously deposited in cash, transferred from term deposits, as well as for other transactions (the list of transactions can be уточнить in the Contact Centre or at Bank Uralsib offices).