Unpaid benefit: UnionPay cards of only one Russian bank work in Europe
UnionPay cards of only one Russian bank operate in Europe. Payment using the "plastic" of the Rosselkhoznadzor (RSHB) has recently stopped taking place in EU countries. In fact, only the Asia-Pacific Bank (ATB) remains for these purposes. His support service confirmed to Izvestia that their cards are accepted, for example, in Germany, Greece, Egypt, Turkey, Sri Lanka and other places. Whether there are risks of an early blocking of the latter option and how else to pay Russians abroad — in the Izvestia article.
Which countries does UnionPay operate in?
UnionPay cards of only one Russian bank are currently operating in European countries — the Asia-Pacific. Until recently, almost all countries also accepted the "plastic" RSHB. However, the credit institution warned that temporary restrictions have been in effect since July 20 — cards are not currently used in EU countries. This information was confirmed to Izvestia by the call center of the financial organization and the press service.
At the same time, Plastik RSHB is still operating in more than 150 countries around the world, the press service added.
According to the Asia-Pacific Bank support service, today the bank's customers can pay almost anywhere. They clarified: for example, transactions take place in Germany, Greece, Egypt, Sri Lanka, Indonesia, South Korea, Kazakhstan, India, Turkey. The bank itself is not under sanctions. At the same time, disruptions still occur in some European countries, the call center staff warned. Therefore, it is better for customers to have a backup payment method when traveling.
The restrictions on RSHB cards coincided with the 18th package of EU anti-Russian sanctions. However, he wasn't on the last list. It is important to understand that the RSHB has been under EU and US restrictions since 2022, recalled Alexey Voylukov, MBA professor of business Practice in digital Finance at the Presidential Academy. He added: "It's amazing that until recently his cards continued to function in Europe and other countries.
Most likely, the recent reason for European banks' refusals to cooperate with the RSHB is sanctions, said Natalia Milchakova, a leading analyst at Freedom Finance Global. However, it is difficult to find out the details, as payment acceptance schemes are currently not publicly disclosed due to the difficult geopolitical situation.
In addition, since we are talking about the restriction of cards of the Chinese UnionPay payment system, perhaps this is a definite signal from the EU to China that sanctions may be imposed against its financial institutions, Natalia Milchakova added.
— ATB still has space for servicing UnionPay cards due to the fact that it is a bank with non-resident capital and it was not considered as a potential sub-sanctioning facility. Nevertheless, Russian clients cannot be completely sure that they will not face restrictions in the very near future," said independent expert Andrey Barkhota.
Izvestia asked both banks, as well as the Central Bank, for comments.
UnionPay as an international system is accepted in more than 180 countries, but each of them may have special restrictions. Previously, other Russian credit organizations issued plastic for the Chinese payment system: Gazprombank, Postbank, Russian Standard, Solidarity, MTS Bank, Zenit, Saint Petersburg, Uralsib, Primorye, the All-Russian Regional Development Bank, Primsotsbank and Credit Ural Bank. However, after being sanctioned, restrictions were imposed on their admission abroad. Izvestia sent them inquiries.
How else can Russian tourists pay abroad
You can pay in friendly countries using Mir cards, independent expert Andrey Barkhota reminded. At the same time, if we are talking about countries outside the CIS and the EAEU, then only a small number of countries can pay with the "plastic" of the Russian system. Among them are Vietnam, Cuba and Venezuela.
Russians traveling abroad often seek to take both cash and cards with them, which is fair, given the volatile geopolitical situation, the expert noted.
Carrying a supply of cash with you is now the most reliable way, says Natalia Milchakova from Freedom Finance Global. But the main disadvantage is that they can be stolen. Another fairly reliable method is a card issued by a bank in a country friendly to the Russian Federation. However, many of them now refuse to allow Russians to open "plastic" for fear of secondary sanctions.
"In those countries where UnionPay cards issued by Russian banks or Mir cards are accepted, this opportunity should be used (mainly in the near abroad and Turkey), but remember that the window of such opportunities is narrowing and may even close altogether," the analyst warned.
Meanwhile, you can also use the Golden Crown payment system, Natalia Milchakova added. However, transfers through it do not happen instantly, given the impact of sanctions against the Russian financial sector. In foreign countries, it makes sense to use bank cards from friendly countries, such as Visa and Mastercard systems: issued outside the Russian Federation, they will work in any country.
So, most often Russians apply for them in Kazakhstan or Kyrgyzstan. Moreover, you can order the cards remotely, through a power of attorney. However, it costs a lot — on average, you will have to pay about 30-50 thousand rubles for such a "plastic". You can transfer money to this card most often through the SBP by phone number, as in Russia.
The fifth payment method is cryptocurrency, added Alexey Voylukov from the Presidential Academy. However, do not forget that this is a high-risk instrument with a limited legal status.
Переведено сервисом «Яндекс Переводчик»
