Visa suspended cards processing of Bashkir InvestCapitalBank

Elvira Latypova

Visa International Payment System suspended cards processing of Bashkir InvestCapitalBank and SMP Bank. Visa justifies its actions by the introduction of U.S. sanctions against these credit institutions and the necessity to "comply with U.S. law".

Yesterday Master Card International Payment System announced on the termination of these banks’ access to their services.

Recall that in March the international payment systems for a few days suspended operations of a number of Russian banks. Then sanctions indirectly affected InvestCapitalBank. In connection with the March events the management of the credit institution has agreed with a number of Russian banks on establishing inter-host connections.

Bashkir bank cards are accepted at all ATMs and terminals of the InvestCapitalBank and SMP Bank and banks being part of united settlement system.

On Monday InvestCapitalBank made an official statement to its customers in which it asks cardholders do not use their cards to pay for goods and services, and to use cash or cards of other banks when traveling abroad. In addition, the Bank encourages customers to refrain from currency transfers and payments in connection with the possibility of being locked.

"The bank carries out all rubles payments and settlements in a normal mode”, it is said in the statement. “Also, the bank has no plans to reduce its work in the lending sector, both to individuals and legal bodies. The bank performs all its obligations to the full".

#visa #credit cards #sanctions

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