Faster Payments System (SBP)
SBP was jointly developed by the Bank of Russia and the National Payment Card System (NSPK). The Bank of Russia is the operator and settlement centre of SBP, and NSPK acts as the operations and payment clearing centre.
Using a phone number to transfer money via SBP
In order to transfer money between your and/or another person’s accounts in different banks using a mobile phone number, the sender’s and recipient’s banks need to be connected to SBP.
The transfers are executed via mobile applications or online banking (please contact your credit institution for more information).
Using QR code for making a purchase
You can use your smartphone, tablet or computer to pay for purchases via mobile applications of banks connected to SBP.
Before paying, make sure the seller supports this payment method.
Using a phone number to receive payments from organisations
A legal entity can transfer money to a customer identified with a phone number via SBP. The mechanism is used to make payments or refunds for purchases made earlier.
The transfer is possible if the sender’s and recipient’s banks are both connected to SBP.
Fees
Bank fees for clients
Transferring funds between customers:
- up to 100,000 rubles a month can be transferred free of charge;
- if money transfers exceed 100,000 rubles a month, a bank fee may not be over 0.5% of the transfer amount and over 1,500 rubles per transaction.
СBanks cannot set daily transfer limits lower than 150,000 rubles.
Bank fees for business
Fees do not exceed 0.7% (or 0.4% for certain types of merchants).
Small and medium-sized enterprises can receive reimbursement of the fees paid for SBP transactions in the period from 1 July 2021 to 31 December 2022.
Fees for banks
Fees for transferring funds from individuals to legal entities and vice versa range from 0.05 to 3.0 rubles.