No more SWIFT. From October 1, money transfers within the Russian Federation are carried out only through Russian services

From October 1, Russian banks are required to use only domestic services and infrastructure to transmit financial information when transferring funds within the country. The Board of Directors of the Bank of Russia made a decision back in March.
This means that from October 1, Russian banks will no longer be able to use SWIFT to transmit financial information when transferring funds within Russia. They are required to interact with each other through the Financial Message Transmission System (SPFS) of the Bank of Russia or other Russian systems that ensure the transmission and storage of information on financial messages only on the territory of the Russian Federation.

The Bank of Russia believes that this solution will ensure reliability and uninterrupted data exchange during domestic Russian transactions.
After the start of the SVO, the European Union disconnected a number of Russian banks from the SWIFT system, in particular Sberbank, VTB, Novikombank, Promsvyazbank, Sovcombank, banks Rossiya, Otkritie and others.
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