Bank of Russia recommends reducing or eliminating transaction fees for servicemen accounts
Recommendations relate to fees paid by mobilised servicemen or other special military operation (SMO) participants for the transfer of funds from their accounts to their family members and fees for cash withdrawals from their accounts.
The Bank of Russia recommends that banks establish a procedure for implementing these support measures so that servicemen could, either in an accessible form or through their representatives, state the existence of grounds for such bank fees reduction. This procedure may include, for example, designating by a serviceman of family members who can use bank fees reduction scheme.
In addition, banks are encouraged to provide to military personnel and their families detailed information on how to transfer money from bank to bank (for example, using the Faster Payments System) as well as withdraw cash at no or minimal cost.