Recommendations for banks: cash circulation
The Bank of Russia recommends that credit institutions take preventive measures while providing cash services in the context of the Covid-19 pandemic. The relevant information letter is available on its website.
These measures include, for example, keeping banknotes to be loaded into ATMs and payment terminals in credit institutions’ facilities for a certain period, during which the virus completely disintegrates.
If possible, banks should also limit cash depositing and withdrawing from (to) ATMs with recirculation. Such ATMs are designed to ensure continuous cash circulation (when one customer deposits banknotes, the other customer receives the same unprocessed banknotes).
Moreover, regular preventive disinfection is recommended for cash transfer devices, ATMs and payment terminals located both in credit institutions’ facilities and outside, if possible.
Compliance with these recommendations will help to slow the disease’s spread through cash circulation.
The Bank of Russia also suggests that banks encourage their customers to choose cashless means of payment for goods and services, such as online transfers and contactless payment.