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Thursday, September 19, 2019

Alfa-Bank expanding online card-to-card transfers to Europe

Alfa-Bank, the largest private commercial bank in Russia, is expanding its online card-to-card transfer service to Europe.

Among the countries it will expand to are Malta, Cyprus, the Czech Republic and more than 14 other European countries. Cardholders at any bank in the newly revealed countries can transfer funds to another person's bank card without having to use cash. The maximum amount of a single transfer is $2,333.

The bank has had the service for just over a year, but with international transfers gaining in popularity, it is increasing the number of recipient countries from six to 23, including European countries where many Russian nationals reside.

"We are confident that the users will positively assess the merits of the new service," Elena Bocharova, the head of e-commerce product development at Alfa-Bank, said.

Headquartered in Moscow, Alfa-bank operates in seven countries, providing financial services to more than 40,000 active corporate customers and 5.3 million retail clients. It is particularly active in Russia and Ukraine, ranking among the top 10 largest banks in terms of capital in both countries.