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Western Union: the limits on cross-border transfers

FXcoins - Western Union: the limits on cross-border transfers

22 Jul 2019года came into effect new rules for Western Union, which indicated that the amount of transfer funds in one country is fixed at 600 000 rubles per month. This was posted on the official website.


Such restrictions were introduced in accordance with the law on combating money laundering and financing of terrorism. After the request of the Central Bank to pay attention to the financial operations of the customers, the Western Union decided to protect his company from participating in illegal activities.


In 2018, the Bank of Russia provided information about what the Russians transferred abroad more than 9.5 billion dollars, which affected the economy of the country. Despite the fact that the spectrum of activity of the company covers the territory of 200 countries in April 2019, restrictions were imposed on money transfer to Kazakhstan, Vietnam, Kyrgyzstan and China, the maximum amount of translation reached 100 000 rubles per month.

26 July 2019

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