YEREVAN, August 25. /ARKA/. VTB bank has launched money transfers from Russia to Armenia in the national currency. The service is available by the recipient's bank details. The money transfer is credited to the account of a VTB (Armenia) customer within one business day, the bank's press service reported today.

To make a money transfer by bank details one needs to use the Russian version of the mobile app or the web version of VTB Online. Then they need to go to the "Payments" section, select the operation "By details in foreign currency", debiting account, enter the amount and purpose of the money transfer, bank code, name, address and account of the recipient.

To make a money transfer in drams the client will be offered to open a current account in the chosen currency, to buy it and then to transfer the money.

The maximum amount of a money transfer from Russia to Armenia is  20 million rubles (AMD equivalent), the commission is 1% of the transfer amount, ranging from 1,500 to 20,000 drams.

"Restrictions imposed on the largest Russian banks affected the volume and the possibility of cross-border money transfers between Russia and Armenia in the first half of the year. That is why VTB has launched a service that many of our customers and their families will be able to use. Thanks to the new service, money transfers will be as convenient and accessible as before and the clients of VTB (Armenia) will be able to receive remittances from Russia quickly, easily and at any time. The main advantage of the service for users is that they will not have to  visit the bank as the amount is transferred directly to the account or card of the recipient, and most importantly, immediately in local currency" said Director of VTB (Armenia) Retail Business Development Tatevik Badalyan.

 The activity of VTB Bank (Armenia) CJSC is regulated by the Central Bank of Armenia. -0-