Russian rouble payments
Russian rouble payments are international payments made in Russian roubles to all Russian banks and to those foreign banks that have correspondent accounts in Russian roubles.
Requirements for Russian rouble payment
- Name of beneficiary in Russian language must be written with Latin letters in accordance with the Russian-Latin character table. If the beneficiary is a private individual, the family-, first- and father’s name of the beneficiary must be inserted. For beneficiaries, who are legal entities, the type of ownership must be indicated (OOO, OAO, ZAO).
- Beneficiary’s account number must be – 20- digit number. Rouble payments must definitely contain the beneficiary’s rouble current account number, i.e. the beneficiary’s account may not be in another currency. In Russia, the first two digits of customer rouble current accounts are “40“ and sixth and seventh digits are “81“.
- Beneficiary’s INN (taxpayer’s identification code) – if the benediciary is a legal person and a Russian resident – 10-12-digit numerical code, which has to be presented by the beneficiary.
- Beneficiary’s KPP – 9-digit beneficiary-based code, which the beneficiary has to forward to the remitter, if available.
- Code of currency transaction (also currency operation, VO) – mandatory five-digit code of the Russian Central Bank, which must correspond to the information, entered in the payment description. NB! Entering and forwarding the currency transaction code of a cross-border rouble payment is mandatory and a payment without VO code will be returned.
- Beneficiary bank’s BIK code – digit identification code of the beneficiary bank. The BIK code ot the beneficiary bank must be proveded by the beneficiary with its bank requisites.
- Name and address of beneficiary bank or only city in Russian language with Latin letters, according to transliteration table.
- Payment description has to be written in the Russian language with Latin letters according to the transliteration table and the following information shall be entered as explanation; VAT (NDS) amount. If the goods or services are not taxable, you must state “BEZ NDS“.
- Russian banks accept rouble payments only without charges to beneficiary (OUR).