6 answers to financial questions for those who are abroad or planning to cross it

I have a Russian bank card, can I withdraw money from it abroad?

5th of March VisaVisa Suspends All Russia Operations / Visa And mastercardMastercard Statement on Suspension of Russian Operations / Mastercard announced that they were suspending all operations in Russia. This means that cards issued in the Russian Federation will not work abroad. And those issued in other countries will cease to operate within Russia.

It is believed that the process will be completed within a few days of the publication of the statement. While abroad, you can have time to withdraw all the money (and it is better not to delay it). Whether this will succeed depends on whether the bank is under blocking sanctions. Bye on the listU.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs / U.S. Department of the Treasury These ones:

• VTB;
• "Promsvyazbank";
• "Opening";
• "Sovcombank";
• Novikombank.

In the press service of the National Payment Card System

offerThe NSPK said that Russians can apply for a Mir-UnionPay card for purchases abroad / TASS to pay for purchases and withdraw cash abroad, issue a Mir-UnionPay co-badged card. It should be accepted "both in Russia and in 180UnionPay cards can be used smoothly at 180 countries and regions worldwide / UnionPay countries that support work with Union Pay.

Worth considering conversion. Not always rubles will be exchanged for local currency. They can go through a chain of transformations. Accordingly, at each stage you will lose a little on the difference in rates. If you have an account in dollars or euros, the conversion path is shortened.

I work remotely for a Russian company. Will they be able to transfer my salary?

If you have a Russian bank card, then the employer will be able to transfer money to it. Only you, if the card works in the Visa or Mastercard system, will not be able to use them. Therefore, contact the management and find out how your interaction will be built further.

If you have an account with a foreign institution and you are registered under some other agreements, it is better to check everything directly with the employer. Variations are possible depending on the country of destination and the decision of specific receiving banks. For example, not everyone can be happy with rubles.

However, it is better to clarify everything with the employer in any case. The situation is changing quite quickly, you have to adapt to it.

Can I take cash abroad?

When it comes to cash, a lot depends on what currency your money is in. Russians allowedDecree of the President of the Russian Federation of March 01, 2022 No. 81 "On additional temporary economic measures to ensure the financial stability of the Russian Federation" to take out of the country any foreign money only for an amount not exceeding the equivalent of 10 thousand dollars at the exchange rate of the Central Bank on the day of crossing the border. The wording of the decree raised doubts whether this amount applies to a person or a family. Central Bank clarifiedOperation of the financial system under sanctions restrictions / Central Bankthat the limit is set for one person.

There are no restrictions on the export of rubles yet, but you should find out in advance whether you can exchange them in the country of destination. It is also worth remembering that an amount exceeding 10 thousand dollars at the exchange rate of the Central Bank on the day of crossing the border must be declareEAEU Customs Code, article 260 "Customs declaration of goods for personal use". If it turns out that you are carrying more, but did not report this to customs, mayCode of Administrative Offenses of the Russian Federation, article 16.4 "Non-declaring or inaccurate declaration by individuals of cash and (or) monetary instruments" fine or confiscate the excess.

If you are carrying a large amount, it is better to have documents with you that confirm its origin. Generally this necessarilyDecision of the Board of the Eurasian Economic Commission dated August 6, 2019 No. 130 "On the submission of documents to confirm the origin of cash and (or) monetary instruments" do if you are exporting an amount exceeding 100 thousand dollars or the equivalent (including rubles). But if you have such papers, it is better to grab them in order to simplify the process of crossing the border for yourself. This is, for example, a certificate of income or a contract purchase and sale, but not only. SuitableOn the list of documents confirming the origin of cash and (or) monetary instruments / Northwestern Customs Administration quite a few documents.

Will I be able to exchange cash rubles for local currency abroad?

Watching where. In the old days, in areas with a large flow of Russian tourists, this was quite easy to do. But now geopolitics can intervene in the process. It is relatively easy to exchange rubles for local money in the countries of the Eurasian Economic Union - Belarus, Armenia, Kazakhstan, Kyrgyzstan. But your life will become much easier if you have dollars or euros.

And how to pass the border if the money is on the card?

All the rules from the previous paragraphs apply only to cash. If the money is in a bank account, you do not need to declare anything. And you can leave, even if it has more than 10 thousand dollars. Although it is better to follow the news agenda in case the situation changes.

And here again, it is worthwhile to find out in advance whether you can withdraw money, in what currency and in what volume.

And in another country, can I get a local bank card and put money on it?

In fact yes. But it depends on the policy of the country and the particular bank. In any case, it is better to have documents confirming the income and origin of the money with you if you want to deposit a large amount into the account.

If you are a resident of the Russian Federation, that is, you spend more than 183 days a year in the country, then within 30 days you shouldNotification of opening a bank account abroad / FTS report the opening of an account in a foreign bank to the tax office.

I write for Lifehacker about money, law and rights, things that make life easier, better and more fun. And of course, I check the advice on myself: I get tax deductions, I file declarations online, and I also paid off my mortgage ahead of schedule and forced the post office to find my package.

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