Yandex Money Enables Funds Transfers to Visa or MasterCard
Starting today, Yandex Money users can transfer funds from their Yandex Money accounts to any Visa or MasterCard account. Funds can be transferred to the user’s own card or to any other card of their choice, for example to their grandmother’s or little sister’s card.
To send money to a card account, the user only needs to keep the card number. The money will be available on the card account in one to two working days. Currently, Yandex Money supports any Visa card issued by any bank operating in the Russian Federation.
MasterCard owners can also send money from their Yandex Money accounts to cards issued in Ukraine, Kazakhstan and more than 20 other countries.
Banking cards are such a popular product that we are trying to maximize opportunities for their owners. Our users can link their Yandex.Money accounts to their banking cards, transfer funds between their Yandex Money and their bank accounts, and make payments online. Clients of Alfa Bank, OTKRITIE Bank and RosEvroBank have already been using this option, and we have now expanded the opportunity to many other Yandex.Money users, who can now easily transfer money from their online accounts to their banking cards,” says Maria Gracheva, Development Director at Yandex.Money.
After identification, Yandex Money users can transfer up to 75,000 rubles per transaction to their banking cards.
The transfer amount are limited to 15,000 rubles per transaction for unidentified users. There is also Yandex Money’s commission fee of 15 rubles and 3% of the transaction value.
Money transferred to foreign currency accounts is converted using MasterCard’s, Visa’s or the card issuer’s currency conversion rates.
Yandex Money is the largest electronic payment system in Russia offering easy, safe and reliable methods for paying for purchases online. Every day, the system adds over 8,000 new accounts and sees more than 80,000 customer payments for products and services.