Trade companies to pay less to banks for transactions in FPS
29 March 2021
News
The Bank of Russia has decided to reduce even more the maximum fee banks may charge from trade and service companies for transactions via the Faster Payments System (FPS). The decision will become effective on 1 October 2021 and limit the fee to 1,500 rubles.
Previously, this threshold was only relative without any cap and varied from 0.4% to 0.7% of the payment amount, depending on the activity of a point of sale.
The new decision will help companies decrease their costs when selling high-value goods.
Similar fees and limits will also be set beginning on 1 October 2021 for payments made in favour of the self-employed.
For individuals, payments for any products and services through the FPS will remain free.
Preview photo: Weedezign / Shutterstock / Fotodom