No bank fees for cash foreign currency withdrawals by individuals, 9 Sep 2024 – 9 Mar 2025 (expired)
One of the six-monthly decisions banning bank fees for issuing individuals’ pre-March-2022 foreign-currency balances in cash. This one applied from 9 September 2024 to 9 March 2025.
What it says
Banks may not charge individuals for issuing cash foreign currency up to the balance held at 00:00 on 9 March 2022, nor for converting that balance into US dollars or euros for issue.
Status, October 2026
Expired on 9 March 2025. The ban is renewed every six months; the decision now in force is of 28 August 2026, until 9 March 2027.
Unofficial translation
Unofficial translation by BCA Unternehmensberatung UG. Only the Russian text is authoritative: Russian original on usd.bcaun.com · publication of the Bank of Russia ↗. Notes on provisions no longer applied are editorial and not part of the document.
DECISION OF THE BOARD OF DIRECTORS OF THE BANK OF RUSSIA
on fees for issuing cash foreign currency to individuals
5 September 2024
The Board of Directors of the Bank of Russia on 5 September 2024 decided:
In accordance with paragraph 2 of Article 20 of Federal Law No. 46-FZ of 8 March 2022 “On Amendments to Certain Legislative Acts of the Russian Federation” (“Federal Law No. 46-FZ”), to establish that from 9 September 2024 until 9 March 2025 a credit institution may not charge individuals a fee for issuing them cash foreign currency in the amount of the balance as at 00:00 Moscow time on 9 March 2022 from any of their deposits or accounts in foreign currency (irrespective of the currency of the account or deposit) opened with that credit institution, nor charge a fee for converting foreign currency in the amount of the balance as at 00:00 Moscow time on 9 March 2022 into US dollars or euros carried out in order to issue cash foreign currency to individuals from any of their deposits or accounts in foreign currency (irrespective of the currency of the account or deposit).