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Home > Money Matters > Transferring Money

Money transfers
to Russia

There are several options available for transferring money into Russia. The quickest way (and most the expensive) is to use an established money transfer company.

Alternatively, open an account in a Russian based bank.

Russian banks and their banking system are extremely primitive and so are the people working for them. However they do have the advantage of allowing non-Russian citizens to open a rouble or hard currency account.

There are several Foreign banks in St. Petersburg but unless you are a Russian resident you may not open an account in your own right – this is imposed on them by Russian bureaucracy.

However - if you happen to be involved with a Russian citizen - that you can trust - then they may open the account and give you “Power of Attorney” - effectively providing full access to the account. Foreign banks also offer banking services which you come to expect – online banking, visa-debit card etc…

Russian or foreign – the banks provide all the necessary details for transferring cash into them.

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