The Central Bank ordered banks to abandon low limits for transfers through the SBP

The Central Bank has set the minimum daily limit for transfers through the Fast Payment System (FPS) at RUB 150,000. Banks will have to adjust the limits by June 10. Recall that in February, the Central Bank planned to set a limit starting from October 1.

“At the moment, some banks are underestimating the limits on the volume of transfers via SBP per day. Credit institutions will have to adjust them by June 10, 2021 inclusive, “- stated in the message of the regulator.

The Central Bank also instructed the SBP participants to provide the opportunity to pay for purchases and services through the SBPay application starting from April 1, 2022. The deadline for fulfilling the requirement has not changed compared to the February draft directive.

The SBPay application was released in April. At the time of publication, it is available only for Android phones and supports two banks – Russian Standard and SKB-Bank. The version for iOS, according to the Russian Standard Bank, is scheduled to be released by the end of 2021.

In April, the Central Bank presented a plan to expand the functionality of the SBP. According to the first deputy chairman of the Central Bank Olga Skorobogatova, the system is planned to be supplemented with services for making payments to the budget, as well as to be connected to the GIS of housing and communal services.

About the plans of the regulator – in the material of “Kommersant” “Central among banks”.

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