YEREVAN, February 17. /ARKA/. Russians citizens are now able to make money transfers  through the rapid payment system (SBP) to Armenia and a number of other neighboring countries.

Tinkoff bank customers can send money to Armenia, Kyrgyzstan, Uzbekistan and Tajikistan, 'Izvestia' daily has learned.

Transactions are made in rubles and converted at a partner bank, with the Russian financial institution acting as intermediary between the SBP and the foreign bank.

Other Russian credit institutions are also setting up cross-border money transfers through the rapid payment system.

VTB, Otkritie and Novikombank plan to launch such operations in Belarus this year, and in other countries.

According to experts, first of all, the service will be used by labor migrants and Russians who relocated to other former Soviet republics.-09-