OREANDA-NEWS. April 20, 2012. CONTACT system announces reduced commissions charged for money transfers in U.S. dollars, Euro and Russian rubles from Kyrgyzstan to Russia and CIS countries, reported the press-centre of RUSSLAVBANK. 

The amendments to CONTACT system’s fees for money transfer came into force on April 16th, 2012. Now the commission from the client for sending money transfer from Kyrgyzstan to Russia and neighboring countries* of less than 4950 U.S. dollars/euros or 175,000 rubles is set as 1.5% of the amount. When transferring an amount equal to or exceeding 4950 U.S. dollars/euro, the commission is fixed at 75 U.S. dollars/euros or 2625 rubles - when sending a sum of 175,000 rubles and above.

Money transfers in rubles, U.S. dollars and euros via CONTACT system are available in 940 locations in 75 cities in Kyrgyzstan. The number of partners includes 19 systems of banks and financial institutions in Kyrgyzstan, including Ail Bank, Amanbank, Buckeye Bank, Bank Asia, BTA Bank, Dos Kredobank, Zalkar Bank, Issyk-Kul IAKB, Kyrgyz Pochtasi, KyrgyzCredit bank, Kirghiz Investment Credit Bank, Kyrgyzstan Bank, Manas Bank, RSK Bank, Tolubai Bank, FinanceCreditBank, Halyk Bank, Unicredit Bank and EcoIslamicBank.

"CONTACT system has been working in Kyrgyzstan for more than ten years and holds a strong position in the domestic money transfer market, - said Svetlana Frolova, Vice-president of RUSSLAVBANK, the System operator. - Current initiatives CONTACT on tariffs reduction for money transfers sent from Kyrgyzstan to Russia and CIS countries are the result of growth in demand for systems’ services, noted in 2011 and are designed to further popularize civilized forms of sending money among the inhabitants of the republic".

* Neighboring countries: Abkhazia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Moldova, Tajikistan, Uzbekistan, Ukraine, Estonia, South Ossetia.