OREANDA-NEWS  Russians will be able to transfer up to 30 million rubles per month between their accounts in different banks without commission through the SBP and by account number online. The relevant provisions of the law went into effect on May 1.

The law that introduced these changes was adopted last summer. These new rules apply to transfers made by account number through mobile applications or the bank's personal account on its website to another bank's account or by phone number through the Fast Payment System.

However, these changes do not apply to transactions made at a bank branch or by card number. Additionally, banks have a responsibility to inform citizens or their representatives about the possibility of free money transfers if they are present at the branch before performing such transactions.In addition to increasing the free transfer limit between their accounts to 30 million rubles per month, banks will no longer be able to set limits on the size or frequency of these transactions within that limit.

As before, there will be no commission for transfers up to 100,000 rubles per month between individuals in different banks in the SBP. The only fee will be 0.5% for transfers exceeding this amount, but not more than 1,500 rubles.