YEREVAN, August 23. /ARKA/. VTB Bank (Armenia) said today that together with MasterCard international payment system and Odnoklassniki social network it has designed  a ‘new simple, safe and convenient service’ for holders of MasterCard and Maestro payment cards to send money transfers from the Russian Federation to 16 countries, including Armenia.

According to a VTB Bank (Armenia) press release, this money transfer system was launched in Odnoklassniki social network in July 2016 by VTB24 bank and Multicard processing center.

"Holders of MasterCard and Maestro cards have the opportunity to get fast money transfers from Russia directly on their cards. The new service enables  both senders and recipients  to  save time and other resources by sending and receiving cashless money transfers to and in any place around the clock, without having to visit bank branches ",  according to the press release.

VTB Bank (Armenia) said all the sender needs to do is to choose the recipient from the list of friends on Odnoklassniki, or enter the profile of the recipient, choose the card from which the money will be charged, and indicate the amount. The sender does not need to know the recipient's card number.

The service is available both in the Web version of Odnoklassniki, as well as in mobile applications for iOS and Android. The minimum transaction amount is 500 Russian rubles and maximum is 75,000 rubles.

To get the money transfer the recipient has to enter his/her  profile, then move to the section  "Money Transfers", click on "Get Money Transfer" and enter  the number of his/her  MasterCard card, after which the money transfer will be credited to the recipient's card. These money transfers are free of charge for the recipient and for the time being also for the sender.

In addition, after the money transfer is credited to MasterCard and Maestro cards, the recipients will receive a gif –so-called internal currency that can be spent on the purchase of paid services within the social network.

Transfers are made in Russian rubles. Money transfers in other currencies will be converted to Russian rubles at the exchange rate of the recipient’s bank.

VTB Bank (Armenia) was entirely acquired by Russian VTB Group in 2004. It runs 67 branches across Armenia, more than any other local bank. --0----