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Uzbekistan's Agrobank joins Russian Sberbank's fund transfer system

Finance Materials 27 November 2019 17:54
Uzbekistan's Agrobank joins Russian Sberbank's fund transfer system

Baku, Azerbaijan – Nov. 27

By Fakhri Vakilov – Trend:

Transfers from Russia's Sberbank by mobile phone number have become available in Uzbekistan, Trend reports via the bank's website.

Now the users of Sberbank Online mobile application can transfer funds to cards and accounts of Agrobank clients.

From Nov. 27, customers of Sberbank Online mobile application can transfer money to cards and accounts of clients of the Uzbek bank Agrobank.

The service is accessible through "Transfers abroad" - "By phone number to card / account". To make the transfer, a user must enter the mobile phone number of the recipient associated with the card. The commission for the transfer will be 1 percent, the maximum amount is $781. Transfer can be made in rubles - when a user transfers funds to the card in the Agrobank it will be converted into the currency of the card.

“We continue to expand the geography of translations for our customers. Seven banks from Tajikistan, Kyrgyzstan and Uzbekistan, with which Russia traditionally has close economic and cultural ties, have joined our system. By connecting new partners, we make the world closer, and money transfers are more accessible, easier and more understandable for everyone,” Sberbank noted.

Agrobank is the first bank of Uzbekistan, which was connected to the Sberbank transfer network. Uzbekistan is the largest market for transfers from Russia to the CIS (in 2018, the volume of transfers was $4 billion).

The volume of money transfers to Uzbekistan from Russia from January through June 2019 (six months) amounted to $1.9 billion, in 2018 the index - $1.7 billion. Thus, the growth for the year was 12.3 percent.

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