Until recently, the population and business in Russia actively used Visa and MasterCard cards. Small business at the same time bought goods, for example, in China. Large business with the help of such transactions evaded taxes. The population, in turn, made various payments, including paying on loans.

When, after the start of the war in Ukraine, panic began in Russia, large amounts began to be transferred through Visa and MasterCard cards. It has now become known that at least part of the amount is frozen and it will not be returned earlier than six months later. How much is involved is not known..

“International transactions with Visa and MasterCard cards have been blocked for two weeks now, and the deposits that banks kept in these systems in case of problems with payments are promised to be returned in six months and not to everyone.

Meanwhile, NSPK required guarantees for conducting domestic transactions using cards of international payment systems from banks, which provides them and accepted the associated risks.. To cover them, the system does not require money, but guarantees from another credit institution, which now does not cause problems only for those who have a subsidiary bank, ”the Russian media write..

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Recall that on March 6, Visa and Mastercard payment systems officially announced that they were completely stopping work in Russia..