Inhaltsverzeichnis
- 1 Money transfer Russia – Germany: current situation 2024
- 1.1 Money transfer to Russia | Receive money transfers from Russia
- 1.2 Transfers via payment service providers to and from Russia
- 1.3 Money transfer via crypto platforms from and to Russia
- 1.4 Would you like to transfer from Russia to Germany?
- 1.5 Questions and answers on the subject of “Transferring money from Russia to Germany”:
- 2 More about “Receiving money from Russia”:
- 3 Sources on the subject of money transfers between Germany and Russia:
Money transfer Russia – Germany: current situation 2024
How you can transfer money from Germany to Russia (and vice versa) in 2024
Since Russia’s war of aggression against Ukraine in February 2022, the EU has imposed a number of sanctions packages that have permanently restricted the usual flow of payments to Russia.
Russia has been excluded from the SWIFT banking system and is not part of the European SEPA area, which means that Russian bank accounts do not have an IBAN.
It is therefore not possible to transfer money from Germany to accounts of sanctioned banks in Russia and the common payment service providers such as MoneyGram, PayPal, WesternUnion, Wise, Google Pay, Apple Pay, Skrill, Payoneer, etc. no longer offer transfers to Russia.
The same applies to payments from Russia to Germany. It is also almost impossible to open a bank account in European banks if you do not live in Europe. It is therefore all the more important to find alternative solutions.
This article highlights the (still) possible ways of transferring money from Germany to Russia and vice versa.
Disclaimer: It is not possible for us to test every payment method ourselves. We largely refer to reviews from others and therefore offer no guarantee for the accuracy of our information!
Money transfer to Russia | Receive money transfers from Russia
It is particularly important that no sanctions are violated when making transfers to Russia. Many German banks only transfer money to Russia if the recipient bank is not on the sanctions list. Furthermore, the banks check transactions to Russia more strictly and have more frequent queries.
These banks are currently excluded from the SWIFT banking system:
- Bank Otkritie
- Bank Rossiya
- Novikombank
- Promsvyazbank
- Sovcombank
- Vnesheconombank (VEB)
- VTB Bank
- Sberbank
- Credit Bank of Moscow
- Joint Stock Company Russian Agricultural Bank, JSC
- Rosselkhozbank
Please note that there may also be other regional sanctions, such as transaction bans. The best way to find out about this is to contact your bank directly.
The following Russian banks have transaction bans within the EU:
- VTB Bank
- Otkritie FC Bank,
- Novikombank,
- Sovkombank
You can find additional information here: https://www.gtai.de/de/trade/russland/wirtschaftsumfeld/finanzsanktionen-gegen-russland-807642#toc-anchor–3
As every bank works differently and some are more cautious than others, German banks may also refuse transfers to Russian banks that are sanctioned in other countries. Please refer to the information guides of the banks concerned or call them. This will put you on the safe side.
In principle, payments to other banks are possible if neither the payer, the payer’s bank, the payee, the payee’s bank, an intermediary bank nor the underlying transaction on which the payment is based is part of a sanction.
Another possible alternative would be to open an account with a bank in Kazakhstan and transfer money from Germany to this account and from the Kazakh account to an account in Russia. This option also works from Russia to Germany and is possible with the following Kazakh banks:
- Kaspi Bank
- Halyk Bank
- Home Credit Bank
- Bareke Bank
- Jusan Bank
Lawyer Hermann Kaufmann is available for comprehensive advice on the subject of “money transfer from Russia to Germany” : Please feel free to contact us!
Transfers via payment service providers to and from Russia
It is interesting to know which payment service providers offer transfers to and from Russia.
The following description is based on tips and answers in forums (e.g. Reddit) or from acquaintances who have used these options. We therefore cannot guarantee that these methods will (still) work.
- KoronaPay (currently no longer possible): works via the app (Russia is sometimes not displayed on the website, but is probably displayed in the app)
- Profee (currently no longer possible).
- Wise says it works too. Link: https://wise.com/de/send-money/send-money-to-russia
- Smapse Pay transfers money from Russia to Germany. Link: https://pay-from-russia.com/en/germany/
All other payment service providers no longer work or are (in our opinion) not secure for you.
Money transfer via crypto platforms from and to Russia
One secure way to transfer money to Russia or Germany is via crypto exchanges.
You can create a wallet there and exchange fiat currency (EUR/RUB) for cryptocurrency and then transfer it to the recipient’s wallet in Russia/Germany. The recipient can then exchange the crypto for fiat currency (EUR/RUB) and have it transferred to their account.
I recommend that you always exchange fiat currency for stablecoins, as these are not as subject to market fluctuations and therefore do not lose value as quickly.
Here you can see which crypto exchanges and trading platforms are safe and reliable: https://rechtsanwaltkaufmann.de/bank-und-kapitalmarktrecht/checkliste-fuer-den-rechtssicheren-handel-mit-kryptowaehrungen-preview-2022
Would you like to transfer from Russia to Germany?
If you have any questions about transfer options from Germany to Russia and vice versa, or if you need legal advice, please send us a message or give us a call at our office:
For a personal consultation, please call us on 04202 / 638370. You can also contact us directly by e-mail at info@rechtsanwaltkaufmann.de.
The information contained in this article is for general information purposes and does not relate to the specific situation of any individual. They do not constitute legal advice. In specific individual cases, this content cannot replace individual advice from experts.
An individual consultation with a lawyer is recommended to assess your specific situation and develop a customized approach.
Questions and answers on the subject of “Transferring money from Russia to Germany”:
-
Which banks are excluded from the SWIFT system?
The following banks (as of July 2024) are excluded from the SWIFT system:
– Bank Otkritie
– Bank Rossiya
– Novikombank
– Promsvyazbank
– Sovcombank
– Vnesheconombank (VEB)
– VTB Bank
– Sberbank
– Credit Bank of Moscow
– Joint Stock Company Russian Agricultural Bank, JSC
– Rosselkhozbank -
How will transfers from Russia to Germany work in 2024?
You can transfer money to Russia via https://pay-from-russia.com/en/germany/ (not tested by us!), exchange EUR/RUB into stablecoins via crypto platforms and send them to the recipient, who then converts the cryptocurrency into EUR/RUB and transfers it to their bank account, or you can open an account in Kazakhstan, to which you deposit money from Russia or Germany and then transfer it from the Kazakh account to Germany/Russia (i.e. in a triangle).
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How to transfer money from Germany to Russia in 2024?
There may still be German banks that transfer money directly to Russia, you can use the payment service providers KoronaPay, Profee and Wise, transfer money in the triangle (Germany-Kazakhstan-Russia) or transfer money to Russia using cryptocurrencies.
More about “Receiving money from Russia”:
Sources on the subject of money transfers between Germany and Russia:
- https://www.monito.com/de/wiki/ueberweisung-nach-russland
- https://pay-from-russia.com/en/germany/
- https://koronapay.com/transfers/europe/de/landing/de-ru/
- https://www.profee.com/money-send?utm_source=google&utm_medium=cpc&utm_campaign=GA_EN_Search_Brand_17416016803&utm_term=profee&utm_content=-c-17416016803-141015885961-602127927774-kwd-456654092331-&gad_source=1&gclid=CjwKCAjw8diwBhAbEiwA7i_sJTFuWZuWIW6mYgO45uhMHmdTHcwDTQo5aKDqrXIMtjbsDwwQgGWZ-RoCIXgQAvD_BwE
- https://wise.com/de/send-money/send-money-to-russia
- https://www.gtai.de/de/trade/russland/wirtschaftsumfeld/finanzsanktionen-gegen-russland-807642#toc-anchor–3
