The Central Bank denied information about restrictions on cash withdrawals from June 1.

The Central Bank of Russia has denied information about restrictions on cash withdrawals through ATMs allegedly introduced on June 1. This was announced on May 30 in the Telegram channel of the regulator.

"Information about restrictions on cash withdrawals at ATMs from June 1 is not true," the report says.

The Central Bank recalled that in April, the law on banking was supplemented with a norm according to which credit institutions are required to protect customers from fraud when withdrawing cash through ATMs. If the regulator suspects that a person is trying to withdraw money under the influence of scammers, it can limit the withdrawal of cash for 48 hours and allow withdrawals of no more than 50 thousand rubles per day.

In addition, the bank must immediately notify the client of the reasons for the restrictions so that he can change his mind and refuse to transfer money to fraudsters.

The innovation will enter into force on September 1, 2025 and will be applied when withdrawing cash from any payment cards, including credit cards, the Central Bank added.

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Candidate of Economic Sciences, financial market expert Andrey Barkhota told Izvestia on May 12 that restrictions on money transfers without opening a bank account are needed to combat criminal proceeds. So, if the amount turns out to be higher than 100 thousand, the person will have to go through full identification at the bank.