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The expert told when they can restrict cash withdrawals




MOSCOW, Dec 21 – PRIME. As a rule, cash withdrawal limits are set directly by banks within a certain tariff plan, according to which the card is serviced. The higher the status of the card, the higher this threshold, but, accordingly, the higher the card service, Alexey Krichevsky, an expert of the Academy of Finance and Investment Management, told the Prime agency. The expert told in what cases it is better to pay in cash “Limiting the amount of cash withdrawal is strictly an indicator of the relationship between the bank and the client. Restrictions are also placed on interest-free withdrawals at ATMs of other banks, and it also depends on the client’s status, “the expert explains. The limit can be increased at the request of the client for a separate commission. It is also in the order of things to order a large amount of paper money with issuance the next day and temporarily freezing the specified amount on the account. Additional cards tied to the account can be limited both in spending and directly on withdrawing cash, he adds. “In the case of restrictions on withdrawing cash at the cash desks of stores, the Central Bank acts absolutely correctly and logically. There is a possibility that in small cities and settlements covered by this service, shops can turn into ATMs with “carousels” of people, for a small percentage of withdrawing money for any organization or individual “, – said Krichevsky. Russia will introduce new rules for cash payments Other restrictions may be imposed only in the case of requests from the state. It should be understood that the Central Bank is concerned about the constant growth of the cash supply in everyday life, but this growth was provoked by the pandemic and massive lending to citizens who had to go into debt to survive the quarantine, the expert says. He recalls that March was a record month for the issuance of loans before the introduction of preferential mortgages – then loans for about a trillion rubles were approved. Therefore, you should not take rumors about restrictions on cash withdrawals too sharply – all the same, all limits are set primarily by the bank’s tariff, if a citizen is not involved in any illegal schemes.

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