Reading 6 min. Views 100 Published on 20.12.2018
Operations in which there is interaction with foreign exchange funds, in modern Russia is gaining momentum. If at the time of the Union such operations were prohibited, then at the moment, currency settlements take a large percentage private finance transactions. Innovations in the current legislation allow the free circulation of currency units among Russians.
Some time ago, new currency exchange rules came into force, regulating banking operations of this kind. The changes affected the design currency deposits, the nuances of saving foreign currency, receiving salaries of employees employed in foreign organizations, as well as traveling abroad.
New currency exchange rules tighten approach to customer identity verificationRegulations in force in accordance with the law currency transactions allowed to carry out such procedures in unlimited quantities (both in cash and non-cash) by anyone. But subject to the exchange of foreign exchange in the conditions of the bank. Transactions carried out in other ways were declared invalid and illegal..
All transactions in which the currency was fixed were subject to the established rules from the Central Bank of Russia.
The procedure for conducting foreign exchange transactions was developed for each individual procedure. In particular:
In 2017, analysts noted a sharp rise in various foreign exchange transactions. According to statistics, the demand for foreign currency increased by 17-18%.
Due to the growing needs of citizens and the increase in demand for currency transactions, new rules for the purchase of currency were introduced. They went into effect in 2018. One thing remains the main thing: all currency transactions are officially allowed to be carried out exclusively in banking conditions. Any street currency transactions are invalidated and considered illegal.
The currency was changed according to the established rate All innovations and restrictions in the purchase of foreign currency in Russia (they are spelled out in regulation No. 499 of the Central Bank of the Russian Federation) have affected the part of client identification when conducting foreign exchange transactions. The tightening of the identity verification approach in foreign exchange transactions is driven by the following intentions Russian state:
New restrictions on the purchase of currency by individuals apply exclusively to transactions through bank cash desks and exchange offices. The terms of foreign exchange transactions using Internet banking have not changed. The new requirements boil down to two points:
The Central Bank assures that the changes made will not affect the well-being and comfort of ordinary citizens. But many financial institutions operating in Russia disagree with them. In their opinion, such an approach to tightening control over personal identification will take much more time, which will lead to the following factors:
According to the new rules, currency exchange up to 15,000 rubles. does not require personal identification But according to experts, such innovations carry much more pluses than minuses.. In particular, tightening controls will help:
According to analysts, a significant drawback of the new rules will be the introduction of a commission for foreign exchange transactions, approximately it will be set at 1.50-3.00% of the total exchange amount.
But the leadership of the Central Bank reassures citizens, because the new rules do not bring any additional difficulties. To purchase currency in the amount of 15,000 rubles or more, a citizen will only need to present a passport. No other papers, certificates, questionnaires or other documents will be required. New rules can only increase labor costs from the employees of banking institutions and exchange offices, but this fact is not so weighty.
According to the new rules, currency exchange in the amount of 15,000 rubles. requires the client to fill out a questionnaire and complete identification of the person Russians, especially those who actively used the currency, were concerned about the introduction of new requirements. Many began to correlate the updated instructions with the desire of the Central Bank to intervene in them. financial activity. To dispel doubts, the Central Bank held several open conferences, where it gave detailed answers to all the questions of our compatriots.
It is worth giving a few explanations from the leadership of the Central Bank, given to the most exciting questions. In particular:
It should be borne in mind that banking organizations do not set any restrictions on the amount of purchased currency. There are no limits, and any Russian has the right to acquire as much foreign currency as he needs. But, you should also know that when buying a currency in the amount of 100,000 rubles, banking institution is obliged to carry out a complete identification of the person, starting from the passport data and ending with the verification of the TIN. This procedure is subjective, and is carried out by the manager working with the client.
What exactly these changes will lead to will be shown by the current and next year. To assess the advantages or, conversely, the disadvantages of the law, practice is needed, not theory. Therefore, it is too early to draw definite conclusions. And whether the system will achieve its goal, in the desire to confront illegal foreign exchange transactions, only time will tell.
The demand of citizens of the Russian Federation for foreign currency increased in 2017 by more than 17%. In order to simplify the process and make it more transparent, the rules for buying currency for individuals in 2020 have changed. All transactions with currency are made only in banks, all other transactions are invalidated, equated to a violation of the law.
In the official regulation of the Central Bank of the Russian Federation (499-P), innovations have affected the part of customer identification. A thorough check of persons making the purchase of dollars, euros and other banknotes in banks is dictated by the desire to strengthen:
The new order applies only to exchange offices. The conditions for making transactions through Internet banking remained the same.
The rules boil down to two simple requirements:
Despite assurances from the Central Bank that changes in the rules will go unnoticed by individuals, many credit organizations tend to think the opposite. A more thorough identification of the person will take longer than usual, therefore, the duration of service per client will increase. This will entail:
The new rules may also have positive consequences:
The introduction of the new rules caused a number of concerns among ordinary individuals. So that the standard transaction for the purchase of currency does not become associated among citizens with an attempt to get into their wallet, we will give answers to the most exciting questions:
The increased burden on entrepreneurs, enterprises, banks and ordinary citizens is intensified by the introduction of a commission on currency transactions. Its amount will be from 1.3% to 3%.
If until December 27, 2017, bank employees had the right to demand from you only a passport when buying currency in Russia in excess of the established limit, now tellers are required to fill out a questionnaire for each client. It contains the following information:
The form of the questionnaire and the general list (17 items) of the requested information are sent by the Central Bank to credit organizations that buy and sell foreign currency. The latter determine the items they need and, when contacting the client, request information limited only to this list. The data is entered into in electronic format and stored there from transaction to transaction. That is, provide required package documents only once.
Innovations have increased the burden on bank employees, but they are the only ones standing in the way of implementing the requirements of the Central Bank. At the first time of the updated requirements, "full" identification of customers was also carried out by a passport.
Some banks make a copy of the documents as proof of the presentation of the passport by the client. For some, this causes dissatisfaction, but there is no direct violation of the law here.
This requirement applies only to bank branches. All pseudo-exchangers that do not have a license from the Central Bank to provide services to the population for the purchase and sale of currency are considered illegal. Of course, they have no limits on the purchase without documents. The only restriction may be the availability of money for extradition. It is strongly recommended to avoid this kind of transaction, since only an exchanger in a licensed bank will guarantee the authenticity of the issued banknotes.
The new requirements did not change or tighten the conditions for buying foreign currency in the territory of the Russian Federation. They are not aimed at withdrawing currency from the population or hindering transactions with it. Changes were made to the work of tellers in terms of filling out personal data. The form is filled out once and stored with all the information for the time allotted by law. Thus, when you come again, you will present your passport, the bank employee will make sure that you provide the earliest required documents, and you're done.
Citizens of Uzbekistan, Ukraine, Kazakhstan, the Republic of Belarus, who make transactions to buy currency in Russia, are subject to the same rules that are prescribed for citizens of the Russian Federation in the resolution of the Central Bank of the Russian Federation 499-P. A passport and other certificates from work at the request of the bank will be taken when buying foreign currency for amounts over 15,000 rubles.
Before going to the bank with the intention to buy currency, you must:
Important! Only exchange offices in commercial organizations licensed to conduct such sales transactions. All other exchange offices are illegal, so the state will not protect its citizens in any way in currency purchase and sale transactions that are not made in banks.
Banks do not set maximum limit, so you can buy as many currencies at a time as your funds allow. It should be borne in mind that when selling currency in excess of 100,000 in ruble equivalent, a credit institution is obliged to identify a person, starting with a passport, ending with checking the knowledge of the TIN by heart. A so-called assessment of the risk probability of working with a client is carried out. The procedure is subjective, the client is evaluated directly by the manager serving him.
How will the new requirements affect money buying operations? Signs unknown. There are fears that people who are afraid of excessive state control will go to the exchange offices on the streets. Thus, the main goal of the provision - to reveal the hidden incomes of the population, will become unattainable. A positive result of the innovations is the transition of customers to transactions in Internet banking. People who have nothing to hide and nothing to fear. And online services not only simplify the work of banks, but also do not limit the population in the amounts for buying foreign currency.
By creating additional work for tellers, managers and other employees of banks, innovations will lead to an increase in document flow. You should be prepared for the appearance of errors in filling out, the loss of personal data, etc. It is impossible to exclude the emergence of fraudulent schemes both among the bank employees themselves and in illegal exchange offices. There is an opinion that the tightening of the rules for the sale of currency will force many credit institutions to close their exchangers. Having no other way to purchase currency, ordinary citizens will go to points that do not have a license from the Central Bank. The development of the latter can become a favorable environment for the expansion of money laundering schemes.
It will be possible to assess the effect of the new model of operations only by mid-2020.
Client Relations Manager in Government structure. I often encounter problems arising in the public sector and in the field of social security of the population. Pensioners are a special caste of the population, they need a special approach, and it seems to me that I manage to find it.
From time to time there is a need to make a currency exchange. This process is not as simple as it seems at first glance. In order not to violate the laws of the country, you need to know the rules of the exchange process: what documents are required, what restrictions and limits exist, what is the amount of the commission charged, etc. Read more in our review.
In Russia, from December 27, 2015, new rules have been introduced regarding cash exchange foreign exchange. The innovation provides for the identification of customers by the bank. The previous procedure for money exchange in a bank, which takes place with a passport, has been expanded and tightened. When making a currency exchange transaction equivalent to 15,000 rubles, bank employees ask customers to complete a questionnaire and answer additional questions (specify TIN, place of work, contact number etc.).
When making a financial currency transaction (purchase and sale) in the amount of ≤ 15,000 rubles, there is no need to identify the client's identity. Operations with a turnover ≥ 15,000 rubles. require the presence of a client's passport and his questionnaire (filled out by a bank employee). The data obtained during the survey process is not subject to disclosure and will be used within the credit institution (the data storage period is established by applicable law).
The innovation of the Central Bank did not immediately take root and caused conflicting reviews.
In the official position of the Central Bank of Russia (499-P), the main positions of customer identification are fixed. A forced measure to strengthen control, tracking, combating financial terrorism and money laundering. The task of the bank is a thorough check of persons making money exchange transactions and other of its clients. This provision applies to the work of currency exchange offices. The principle of buying or selling a foreign monetary unit through Internet banking or cashless payments remained the same.
How to make a currency exchange
The new rules of the Central Bank apply to monetary transactions exceeding 15,000 rubles. If earlier it was enough to present a passport to make a currency exchange, now the bank offers to undergo a special questionnaire. In a special questionnaire, the full name, full date of birth, place, citizenship, actual address of residence must be indicated. Additionally, bank employees can clarify contact information, find out the financial situation, source of income and business reputation of the client.
If this is not the first contact with the bank. For example, they applied for a loan at Sberbank, its employees have the necessary information and it is enough for the client to present a passport. Otherwise, you will have to go through the identification process completely.
The Central Bank was reassured that customers would not experience inconvenience with the innovation. Employees banking organization independently fill out the questionnaire on the basis of data from various information bases. Therefore, in fact, when buying and selling in foreign currency, it is enough for the client to present a passport.
The collection of additional information is selective.
The Central Bank's statement that customers will not feel the changes causes skepticism among a number of credit institutions. Currency exchange will take longer, queues will appear, which, in turn, will naturally annoy customers who value their time.
On the positive side, there is an increase in transparency financial transactions, simplified use of controlled cashless settlement.
The new rules aimed at ongoing currency purchase and sale operations have caused a lot of questions from ordinary citizens. The adoption of the provision on mandatory personal identification of the client (exchange of ≥ 15,000 rubles) raised a wave of mistrust and overgrown with a web of unverified information.
Use of personal data specified during the execution of a currency transaction for the subsequent taxation of the transaction. To date, there is no such clause in the legislation of the Russian Federation. Honest citizens should not worry about their accumulated funds. Additional financial penalties are not provided.
Many took the innovations as a signal for a drastic change exchange rate foreign currencies and independently began to sow panic, creating an artificial financial deficit. The exchange rate is set and fixed by the Central Bank of the Russian Federation.
Information fraud. The data established by the bank in the process of identifying the client is the property of the organization and is closed from access by third parties. The collection of information is carried out in order to ensure the security of the bank and identify possible illegal actions of the client.
Like everything new, the adopted rules scared ordinary citizens more, forcing them to resort to alternative ways exchange. This reaction sparked a wave of fraud.
unstable economic situation, innovations and an abundance of inaccurate information confused many citizens, and some frankly panicked. The desperate desire of the Russians to make a quick currency exchange with the maximum personal benefit has created a fertile ground for the activities of fraudsters.
Illegal activity in financial sector keeps up with the times. The crude scams of the 1990s have replaced subtle new, "almost legal" scam schemes aimed at deceiving citizens in order to take over their finances.
A diverse range of fraud schemes is regularly updated. More and more people fall for the tricks of scammers.
The safety of the client is in his hands. The manifestation of vigilance and compliance with accepted norms and rules when performing a money exchange operation. Self-control and law-abiding will give their results. If you have the slightest suspicion or violation of the rules for buying and selling currencies, you should immediately contact the management of the credit institution and law enforcement agencies.
For active users of new technologies, the service "modern online banking" is provided, the use of the resource allows you to avoid various unpleasant situations. The simplicity of the operation, complemented by significant time savings, brings the provided service to a leading position.
Source: http://a1invest.ru/
Starting from 2017, in Russian Federation the process of buying, as well as selling, currency has become much more complicated. Citizens have already managed to be puzzled, although the NB and analysts are inclined to believe that the new rules for buying foreign currency in Russia in 2017 individual have not burdened the citizens so much and it will be necessary to tighten them even more in order to ensure guaranteed control over the state of the market.
It is worth noting that the complication of the purchase process was not due to the desire of state bodies to reduce the volume of purchases of foreign currency by citizens, which was said at the official level. The corresponding regulation No. 499-P, adopted on 10/15/2015, fully complies with the regulations set forth in Federal Law No. 115. In particular, the new provision includes consideration of the issue of combating illegal laundering Money y, subsequent financing of terrorist organizations. In other words, the practice of acquiring or selling currency by citizens on the territory of the state is brought into maximum compliance with current law which makes it possible to exclude the illegal use of money.
Under the current legislation, it is also possible not to identify an individual who decides to sell or buy cash in the amount of more than 15,000 rubles at all. The regulator also notes the fact that when purchasing funds (selling them) for an amount below 15,000 rubles (its equivalent value in any other foreign currency), identification is not required at all. Therefore, a client who decides to exchange a small amount of money does not have to worry about the need to provide documents.
In turn, if the amount exceeds the specified indicator, it is necessary to provide it in exchange financial institution an identity document, namely a passport. This is quite a common requirement; some others are a kind of nonsense. Among other things, the client will also need to leave their contact information with the organization (which can be a mobile phone number, fax number, even Email). An identification number must also be provided. The most unexpected requirement of a banking organization, for which a client should be ready, is the provision of information regarding the financial situation, existing business reputation.
You will even have to provide information about the source of origin of the funds that he will need to exchange. Of course, this may not even be required, but such a decision is made solely at the discretion of the administration. True, the bank itself fills out the questionnaire with data, the client who applied to the organization will not need to spend time entering data, there is no need to look for other ways to buy currency. On its own, the bank does not oblige its clients to carry out the recording and subsequent identification of data, offering them to fill out the questionnaires provided for these purposes.
The information obtained as a result of the collection is recorded in a special dossier, which is due to the operation of the Central Bank regulation number 499-P. The organization is confident that the new rules envisaged for execution will not be able to create certain problems for customers (although it is possible that the time for the exchange will be slightly increased).
As already noted, despite the soothing explanations from the representatives of the Central Bank of Russia, the processing time of the request submitted by each client will also become significant. First of all, such actions will increase the current operational load of cashiers, bank managers, and also create some kind of difficulties for numerous credit institutions providing services in the market segment.
There will also be increased competition small organizations offering currency exchange services. In particular, some of those banks that will not be able to ensure stability in the exchange of money, without creating problems with the service, will refuse to provide this service. In principle, the creation of such conditions in the future will only lead to an increase in the cost of such transactions, it is worth preparing for this.
Against the background of the introduction of such a rule and taking into account the regulation on how many dollars can be exchanged at a time, it is worth noting that an additional commission for converting funds can be about 2-3% (depending on the volume of transactions performed by the bank). This will affect the average consumer who wishes to use the service, but will not contribute to the process of preventing money laundering.
According to many financial experts, it will be necessary to create fundamentally new solutions for those who wish to work with a banking organization.
Despite all the pessimism, some analysts also note some similarities between the new requirements and the old ones. For example, until 2003, when, when purchasing foreign currency at a bank, potential clients had to issue a certificate of the established form, which was issued by an employee of the organization only upon presentation of their passport. They managed to forget about this order a little, but it returns again (plus you will additionally need to provide a TIN for consideration).
Despite such vigilance of bank employees, money laundering still exists, only it is done not through bank offices, but by contacting the client at exchange offices scattered throughout the country. Consequently, the only result will be a significant increase in document flow, but in no way will this introduction ensure the intended legality of the exchange of funds.
What currency can be bought at Sberbank? In fact, any provided by the Central Bank, no significant restrictions on this matter are provided, you can order the funds available to the bank.
Source: http://investobox.ru/
We constantly make purchases by card, withdraw cash. And while we are in Russia, we don’t think much about how a card transaction goes from the moment a purchase is made to the moment it is debited from the account. And, when planning a trip abroad or about to make a purchase in foreign currency, we frantically begin to look for information about how the conversion takes place, who pays for it and how much. A familiar picture? And, meanwhile, the conversion is carried out even when you make purchases in Russia in rubles.
Three currencies are involved in the conversion operation - the currency of the operation, the billing currency and the currency of the card. Transaction currency - the currency in which the purchase is made or the funds are withdrawn. Billing currency is the currency of settlements between the bank and the international payment system (VISA, MasterCard, American Express). The currency of the card is, in fact, the currency in which the account is opened.
So, you have made a purchase with a card, what happens next?
Thus, it turns out that by making one transaction, you can get one or two consecutive currency conversions at once, and, meanwhile, a commission will be charged for each of them.
If the transaction and billing currencies and/or the billing currency and the card currency match, then, you guessed it, no conversion takes place.
As we noted above, the billing currency is usually the dollar for VISA cards. For MasterCard cards, the billing currency is the euro (for purchases in the euro area), in other countries also the dollar. But, if you make a card transaction in the country where the card was issued (in Russia), then the billing currency is equal to the national currency. Thus, you do not pay for the conversion, although it still occurs (all costs for the conversion from the billing currency to the currency of your account are borne by the bank).
You can always find out the course of the payment system directly on the websites of these systems:
Check the bank's conversion rate either on the website or in the Internet bank of the bank that issued your card. You can also find out the course by calling the contact center. Please note that the conversion rate for non-cash transactions in most banks does not coincide with the rate of buying / selling currencies.
In addition, in many banks there is a so-called commission for cross-border transactions. Such a commission arises when you make a purchase with a ruble card in a foreign store or pay abroad - in a word, for any transactions in foreign currency. For example, Sberbank from March 1, 2014 takes a commission on classic cards at a rate of 1.5% (previously it was 0.65%), in Alfa - 1.7%, VTB 24 will take 2% for Visa cards (for payments in a currency other than the dollar) and 0% for MasterCard cards. In Renaissance and Tinkoff banks, there is no such commission for MasterCard cards.
Let's look at examples of how card payments work in different currencies in different countries:
Example 1 You make a purchase with a card in Turkey ( National currency- lira). There are two conversions. First, the payment system converts lira into dollars, then the bank converts dollars into rubles to deduct from your card account. You will pay twice for converting lira - dollar - rubles. Moreover, in cases (as in this example), when the purchase is made in a currency other than rubles, dollars or euros, the bank charges an additional commission, for example, in MDM this commission is 2.5% (this is a plus to the other two).
Example 2 If you made a purchase in America, then the chain will look like this: dollar - dollar - rubles. That is, there will be only one conversion from dollars to rubles at the exchange rate of the bank.
Example 3
Therefore, if you plan to make purchases in the eurozone, and your card is opened in rubles, then it is better to give preference to a MasterCard card.
Example 1 You make a purchase with a card in Turkey (the national currency is Lira). Lira-dollar-dollar conversion chain. That is, there is one conversion at the level of the payment system, respectively, at its rate. However, the bank will still charge you an additional fee for the fact that the settlements were not made in dollars / euros / rubles.
Example 2 If you made a purchase in America, then the chain will look like this: dollar - dollar - dollar, that is, there will be no conversion at all. You won't have to pay anything.
Example 3 When buying in the euro area, for example, in France for the euro, the chain will be:
In this case, there will be no fundamental difference between MasterCard and VISA cards.
Example 4 You make a purchase in Russia for rubles. The chain will look like this: rubles - rubles - dollars. Since in Russia the billing currency is equal to the national currency. Thus, the conversion will also be one from rubles to dollars at the bank level.
Example 1 You make a purchase with a card in Turkey (the national currency is Lira). The chain of operations is as follows: lira - dollars - euros. As a result, you get two conversions plus an additional commission from the bank for the fact that the settlements were not made in dollars / euros / rubles.
Example 2 If you made a purchase in America, then the transaction will look like this: dollars - dollars - euros, that is, there will be one conversion from dollars to euros at the bank's exchange rate.
Example 3 When buying in the euro area, for example, in France for the euro, the chain will be:
In this case, it is also better to give preference to the MasterCard card.
Example 4 You make a purchase in Russia for rubles. The chain will look like this: rubles - rubles - euros. Only one conversion at the bank's exchange rate from rubles to euros.
Source: http://bankcreditcard.ru/
There are many ways to exchange currency: someone prefers to buy dollars or euros in ordinary exchangers, someone performs conversion operations in the Internet bank, and someone has already mastered the purchase and sale of currency on the stock exchange.
Despite the variety of methods, in small towns, clients usually have a much smaller arsenal of available tools. In the absence of competition, local credit institutions set large spreads and receive additional income from foreign exchange transactions.
The new currency exchange service on the Zolotaya Korona website is designed to solve this problem. The rate of buying dollars and euros on the site koronapay.com/exchange is the same for everyone, and cash currency can be obtained at the points of issue of the "Golden Crown", which are quite a lot in the country.
To buy currency on the site you will need a passport, mobile phone and a personalized debit card issued in your name:
To purchase currency on the Zolotaya Korona website, you do not need additional registration(if you buy currency with mobile application « gold Crown- Currency Exchange", then it should be pre-installed).
You only need to indicate the required amount and currency, full name and phone number, pay with a bank card and receive cash at a partner bank:
So, we go to the Zolotaya Korona website in the currency exchange section and indicate the required amount, for example, we need to buy $100. The site shows a rate of 57.49 rubles. for 1 USD. Press the "Next" button:
Then enter your full name and phone number:
To confirm the phone number, you need to enter the password sent from SMS:
We indicate that we want to pay in currency new map. The service allows us to save the card so as not to enter its details the next time, but I prefer not to save anything anywhere else.
We enter the details of the card with which we want to pay our $100 at the rate of 57.49 rubles / $:
Since I used the service for the first time, I entered the details of my flag meter - the Avangard card with a zero balance, in order to find out what, in fact, is the MCC code for this operation on the site. Next, enter an SMS password (to purchase currency on the Zolotaya Korona website, the card must support the 3D-secure function):
On balance debit card Avangard was 0 rubles, so, of course, the purchase was not made, but now you can find out the MCC code of the failed operation in the Avangard Internet bank. As you can see, the code for buying currency on the Zolotaya Korona website is MCC 6538 - MasterCard MoneySend money transfers:
Those. this operation goes like a normal pull from the card. We know that some credit organizations do not allow you to withdraw funds from their cards without a commission, i.e. They charge a donation fee. These are MKB, UBRD, Tinkoff Black with a contraction amount of up to 3,000 rubles. or exceeding the monthly limit of 150,000 rubles. (this operation at Tinkoff-Bank is included in the cash withdrawal limit from the card), Promsvyazbank, Russian Standard, Avangard, Uralsib, MTS Bank, SDM Bank. It is also impossible to withdraw from Yandex Money, Qiwi, Megafon cards without a commission. Read more about this in the article "Card2Card: How to transfer money from card to card for free".
Buying currency with a credit card threatens with a departure from the grace and a commission, as for cash withdrawals.
There are also cards that simply do not allow you to pull them off, "Card Plus" from "KEB", for example. Accordingly, "CEB" will not be able to pay for the purchase of foreign currency.
In general, we will not use the cards of the above banks for the Zolotaya Korona currency exchange service, since it is not in our rules to pay an additional commission. Credit cards are also not suitable for this purpose.
I did all the above operations again, entering the details of my Beeline personal card, the operation was successful. I bought $100 at the suggested rate of 57.49 RUB/$ without any additional fees:
Zolotaya Korona sent the number of the transfer, which will need to be called at the point of issue:
It remains only to choose a convenient pickup point, and you can go for your $100.
To get the currency you need a passport, bank card, with which the operation was performed and the number of the operation:
After receiving the transfer number, you can go for the currency immediately, or you can later, most importantly, meet the three-year period from the date of purchase, otherwise the RNCO "Payment Center" (transfer operator) will appropriate the money for itself:
The buying rate is fixed and it will not change, regardless of further fluctuations:
The nearest point for issuing Zolotaya Korona transfers turned out to be a branch of RGS-Bank, where I received my $100 without any problems.
The rate at which we bought dollars on the Zolotaya Korona website was 57.49 rubles / $ (by the way, it was quite stable there and remained so for a long time).
At this time, the greedy "Rife" would have sold us dollars at 59.15 rubles.
Sberbank turned out to be a little less greedy, offering a rate of 58.86 rubles / $:
Alfa is followed by the Otkritie Internet Bank with a rate of 57.65 rubles / $:
The brother of the currency exchange service on the Zolotaya Korona website - the Corn currency wallet offered 1 USD for 57.61 rubles:
The currency reservation service from BCS Bank overtook Kukuruza, 1 US dollar would cost us 57.57 rubles:
Analysis of the cash currency market "RBC" found in Moscow 1 exchanger with a rate better than that of "BCS", in "UM-bank" 1 $ = 57.54. True, it is not at all a fact that the rate will remain the same until we get to this exchanger.
"Alfa Forex" with a scratch bypassed the exchanger with a rate of 57.53 rubles / $:
And only the Moscow Exchange coped with the Golden Crown, at that time the exchange rate there was 57.40 rubles. for 1 US dollar:
However, to this rate, you must also add the cost of brokerage commissions for completing a transaction and withdrawing currency to a bank account. At Otkritie Broker, for example, commission fees increase the real exchange rate by about 7-8 kopecks. Those. we can assume that on the stock exchange we could buy dollars at 57.47 rubles.
Thus, the stock exchange overtook new service currency exchange "Zolotaya Korona" at the time of our observations for only 2 kopecks.
If you suddenly change your mind about buying currency, then before you actually receive it, you have the opportunity to cancel the transfer. The money will be returned to the card with which the currency was paid. The refund is made in rubles at the exchange rate of the RNCO (transfer operator) set on the date of the formation of the refund order, but not more than the amount spent earlier:
Return will have to wait from 5 to 30 days:
1 You can not sell the currency.
With the help of the Zolotaya Korona currency exchange service, you can only buy dollars or euros and receive them at the points of issue, the reverse operation is impossible.
2 Risk of making a mistake when making a purchase.
You need to be extremely careful when filling in the full name and card details when making a purchase of currency (meaning the correct spelling of the name and surname, exactly as on the card). If you make any mistake, then the currency will simply not be able to be issued at the partner bank, and you will have to cancel the purchase. Accordingly, due to the difference in rates, you can get less than you spent:
3 Risk of license revocation from RNCO "Payment Center".
Buying currency on the Zolotaya Korona website, in fact, is an order to make a transfer without opening an account. The transfer operator is RNCO "Payment Center":
Accordingly, if the license from RNCO "Payment Center" is revoked at the moment when you have made the purchase of currency using a card on the Zolotaya Korona website, but have not actually received cash yet, then you will lose your money.
Therefore, you should not delay getting your own currency, although at the moment I have no doubts about the stability of RNCO "Payment Center".
Sometimes there are problems with obtaining cash currency, there are a lot of options:
However, many customers still receive cash currency without any problems:
The agreement on comprehensive banking services states that the maximum amount you can buy using the currency exchange service on the Zolotaya Korona website is $7,500 within 1 calendar day:
There is also a limit on general transfers under all client agreements with RNKO: 1 million rubles. within 30 calendar days in a row, 1.5 million within 60, and 2 million rubles. within 90 days:
However, in addition to the Golden Crown limits, there are also limits on the card itself, from which funds are withdrawn to pay for the currency.
Usually there is a limit of 50,000-75,000 rubles. for one operation and 150,000 rubles. for all transactions per day. Momentum of Sberbank, for example, has a daily limit on C2C - 50,000 rubles.
The minimum amount of currency that can be bought is $100.
You also need to consider that the amount of dollars or euros purchased must be a multiple of 50 units:
By using the online currency exchange service on the Zolotaya Korona website, you agree to spam from the RNCO "Payment Center":
RNKO "Payment Center" can change the tariffs and terms of the contract at any time:
The currency exchange service on the Golden Crown website is really simple and profitable, the difference with the exchange rate is minimal.
The service has quite a few shortcomings, but, nevertheless, they are not so significant, it is quite possible to adapt to them. I would like, of course, that on the Zolotaya Korona website it was possible not only to buy currency, but also to sell it.
Naturally, you should not have any illusions that the rate of buying dollars or euros from this service will always be good. Any project that has not yet acquired a sufficient number of loyal customers will indulge favorable conditions. As soon as it unwinds a little, tightening the nuts will immediately begin.
What New Year no gifts? Russians, it seems, will face new difficulties in exchanging currency in 2018, because now any transactions with the dollar, euro and other foreign currencies will be equated to property. According to the logic of officials, if you sell dollars or euros, then you are selling personal property, therefore, you owe the state 13%.
This norm was introduced by the Ministry of Finance in February 2015, and almost no one paid attention to this fact! Still, banks were required to charge 13% of currency transactions, but there were countless "gray" exchangers. At first, it was only to their advantage to introduce additional burdens for citizens, which made it possible to receive additional income.
But from January 1, 2018, the authorities decided to give battle to corrupt currency fraud and began a full-scale cleansing of exchangers in almost all major cities of the Russian Federation.
Both the Ministry of Finance and Dmitry Medvedev, and representatives of the Tax Service have repeatedly stressed since 2015 that no additional tax burdens on citizens who make transactions with currency, will not be! Until May 4, 2016, Russians were required to file income declarations, which for the first time introduced "benefit received from foreign exchange transactions."
Despite the unequivocal position of the financial authorities in relation to foreign exchange transactions, the indication in the declaration of income from fluctuations in exchange rates gradually grew into equating the currency with property and introducing a norm on payment of personal income tax (13 %).
So far, the tax deduction is applied to the sale of foreign currency by individuals in the equivalent of more than 250,000 rubles, but we all understand that the amount can be easily adjusted. If we talk about monetary terms, then in the case of an exchange of 5,000 US dollars (equiv.
275,000 rubles), the owner of the amount of money will be required to pay 13% or 35,750 rubles as personal income tax. The amount is impressive even for rich people.
The paradox is that at the time of the exchange, double taxation may occur, that is, on the sale and purchase of currency (for example, if you want to sell dollars and buy euros). So far, no one has unequivocally answered how the statutory fees should be paid.
An additional fly in the ointment will be the ability to sum up all currency transactions per day/week/month.
Of course, the most logical attempt to circumvent the introduced tax on the sale of currency would be to make several transactions, but the summation of monetary transactions completely eliminates this possibility.
There are many scenarios, but experts agree on a few of the most realistic ones:
Note that even officially operating exchangers massively reflected in their financial reporting only a few transactions per day, and actually spent millions of cash. Such a war of the Ministry of Finance with the shadow economy may be an attempt to kill two birds with one stone - to stop the illegal and uncontrolled circulation of currency in the country, and most importantly - to replenish the budget at the expense of the economically wealthy population.
To date, a currency exchange operation does not provide for the mandatory participation of a tax agent. That is, banks do not send to tax service information for each transaction. Therefore, formally, the taxpayer independently decides whether to pay taxes on the sale of foreign currency according to the declaration submitted personally.
The second point is that the tax authorities do not have a sufficient instrumental base to track and verify the note in the declaration on “profit received as a result of exchange operations” when settling in cash.
In other words, it is advisable to pay personal income tax only for non-cash transactions and in cases where the receipt of foreign exchange income can be documented.
In the coming years, it is planned to introduce a sophisticated customer identification system in banks in order to carry out controlled transactions with currency in the equivalent of 40,000 rubles. Therefore, in the near future, it is possible that the state will fully receive 13% of foreign exchange transactions, up to confirmation of the source of income and its legality.
Today, foreign exchange transactions occupy a significant share of the financial turnover of individuals. The provisions of the law allow the possession of currency values in the ownership of citizens of the Russian Federation. The exchange is used when opening deposits and storing money, receiving wages from foreign companies, trips abroad, large investments, etc. For this, currency exchange rules have been developed in Russia, within the framework of which such operations are carried out in banks.
The current rules for the purchase of currency by an individual allow exchange transactions in cash and non-cash for personal purposes of ordinary citizens. However, such transactions are carried out only in banks. Sale or purchase foreign money otherwise prohibited. Compliance with this rule is ensured by the risk of recognition of the transaction as invalid, violating the law.
The procedure for performing transactions with currency is established by the Central Bank. Let's consider it in more detail for each individual operation.
Recently, new currency exchange rules have started to apply in Russia. The procedure for buying banknotes in the amount of more than 15 thousand rubles has changed. Now the bank is obliged to check the client and require the following documents and data:
Information is entered into the program by a bank employee according to the documents submitted by the client. Customer data is stored electronically in banking program. If a citizen has previously been served in this bank, information about him has already been entered into the database. In this case, the changed rules for buying currency in Russia will not be noticed by ordinary citizens. If the amount does not exceed the threshold of 15 thousand rubles, then only a passport is required to purchase foreign money.
In addition, the bank may request information about the financial position, the origin of the funds to be exchanged. These measures are aimed at preventing the illegal receipt of money, counteracting their laundering and identifying sources of financing for terrorism, protecting banks from financial fraud.
In addition, within the framework of the Federal Law on legalization of income, the powers of banks to request clarifying information from customers are significantly expanded. Full implementation by banks of articles of the federal law may provoke restrictions on the purchase of foreign currency by individuals. Failure bank claims will lead to a refusal to carry out the operation without explanation of the reasons.
Since 2016, the purchase of foreign currency and its subsequent sale must be reflected in the tax return. This is a mandatory requirement if the income from transactions amounted to more than 250,000 rubles. Foreign money is recognized as property, the sale of which requires the payment of a tax of 13%.
Today Sberbank offers several exchange operations with currencies of other countries. The list looks like this:
The specified services are limited to the list of currencies with which the relevant division of the bank works. Currency transactions at Sberbank are made in dollars, euros, pounds sterling, yen and Swiss francs. Bank offices always have cash in euros and dollars. In the branches of large cities, you can find a rarer currency: the Danish krone or the Canadian dollar.
Thus, having gone through the entire logical chain, we establish: the operations of individuals for the sale of currency with profit should be subject to personal income tax. Therefore, by selling currency, an individual acquires the obligation to report such a sale to the Federal Tax Service and pay tax in case of income from the operation. These conclusions have been repeatedly confirmed in their letters to the Ministry of Finance. As an example, we will indicate the letter dated February 20, 2015 No. 03-04-06/8370. Read more about this: “Will there be a tax on foreign exchange transactions?”.
Recall that the practice of a tax on currency exchange existed in Russia from 1997 to 2003. Then the commission worked in the amount of 1% of the purchased amount. But this measure was abandoned because it did not bring the expected revenues to the budget.
The FTS is primarily concerned about whether there is a profit from your manipulations with the currency and securities. The major disadvantage is that losses do not reduce the amount of income, and you will still have to pay tax on profits, even if you later lost more money. Let's look at an example. In 2016, the profits on Forex for an individual amounted to 500 thousand rubles, and unprofitable transactions were fixed at 700 thousand.
In the conditions of the crisis, more and more transactions began to be carried out, pursuing the second goal - generating income, which is why government bodies It was decided to equate the sale of foreign currency to the sale of other types of property.
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Question: CJSC (professional RZB participant) plans to provide customers with intermediary services in the currency market of MICEX-RTS OJSC (acting as a commission agent) related to the conclusion and execution of contracts, the obligations under which are subject to settlement based on the results of clearing carried out in accordance with the Federal Law of 07.02.
2011 N 7-FZ “On clearing and clearing activities”, including the return of funds to clients (committents). UTS contract of commission, according to which the CJSC acts as a committent, and the bank - as a commission agent.
For clients, CJSC acts as a commission agent, and clients - as consignors. On the basis of commission agreements, CJSC, acting on its own behalf and on behalf of the client under a commission agreement with the bank, executes clients' orders for the purchase and sale of currency on the stock exchange. Clients transfer rubles or currency to a special brokerage account of CJSC, which the company, in turn, transfers to the bank for settlements on the stock exchange.
On behalf of clients, CJSC (through the ETS trading participant) intends to carry out purchase and sale operations on the stock exchange financial instruments, in particular: purchase and sale of the ruble/dollar pair (TOM/TOD); purchase and sale of the ruble/euro pair (TOM/TOD); purchase and sale of the euro/dollar pair (TOM/TOD). enter the delivery, that is, receive a real currency asset based on the results of clearing.
Clients will be both individuals and legal entities. The procedure for determining tax base on the income of individuals from transactions in the foreign exchange market on a permanent basis, the Tax Code of the Russian Federation is not directly established.
Do the losses of an individual on foreign exchange transactions reduce the profit received by him on similar transactions for personal income tax purposes? The position expressed in the Letter of the Ministry of Finance of Russia dated March 24, 2010 N 03-04-05 / 2-125 boils down to the fact that the possibility of reducing the tax base on income received from operations on the currency exchange by the amount of losses from these operations of the Tax Code of the Russian Federation not provided.
Is the tax base determined in rubles, including when an individual client establishes it as a guarantee of foreign currency assets (i.e., the currency transferred by CJSC is recalculated to determine the tax base in rubles and then added to this amount? financial results from the financial transactions carried out on the exchange currency market)? According to Art.
Answer: MINISTRY OF FINANCE OF THE RUSSIAN FEDERATION
The Department of Tax and Customs Tariff Policy considered the letter of CJSC and regarding the issue of paying personal income tax when performing foreign currency transactions on the MICEX-RTS currency market in accordance with Art. 34.2 of the Tax Code of the Russian Federation (hereinafter referred to as the Code) explains the following. According to paragraph 1 of Art.
210 of the Code, when determining the tax base, all incomes of the taxpayer received by him both in cash and in kind, or the right to dispose of which he has arisen, are taken into account. At the same time, clause 5 of Art. 210 of the Code provides that income (expenses accepted for deduction in accordance with Articles 214.1, 214.3, 214.4, 214.
5, 218 - 221 of the Code) of a taxpayer denominated (nominated) in foreign currency are converted into rubles at the official exchange rate of the Bank of Russia established on the date of actual receipt of the said income (the date of actual expenditure). ch.
23 “Tax on personal income” of the Code is not established. In accordance with paragraph 2 of Art. 38 of the Code, property in the Code means types of objects civil rights(with the exception of property rights) relating to property in accordance with the Civil Code of the Russian Federation (hereinafter referred to as the Civil Code).
Because according to Art. 141 of the Civil Code and paragraphs. 5 p. 1 art. one federal law dated 10.12.2003 N 173-FZ “On currency regulation and currency control” foreign currency is recognized as property, taxation of income in transactions with foreign currency is carried out based on the provisions of the Code provided for the taxation of income of individuals received from the sale of property, including the provisions of Art. . Art.
220, 228 and 229 of the Code. At the same time, we draw your attention to the fact that in accordance with paragraphs. 2 p. 1 art. 228 of the Code, the calculation and payment of tax in accordance with this article is carried out, in particular, by taxpayers “based on the amounts received from the sale of property”, therefore, the reference in the letter in question to the provisions of Art.
39 of the Code on the “sale of goods, works, services” is unfounded. Based on the foregoing, when an organization pays a taxpayer income received as a result of operations for the purchase and sale of foreign currency on the MICEX-RTS currency market, such an organization is not recognized as a tax agent.
Ivan Rykov shared his expert opinion on this topic on the MIR24 TV channel.
Do all individuals have to pay income tax on income from the purchase and sale of foreign currency. And what if you don't want to pay for it?
With the approach of the next tax period MIR 24 found out that all individuals must independently submit tax returns on foreign exchange transactions if they have earned on the sale of foreign currency. Ivan Rykov, an economist and chairman of the commission of the Russian Board of Auditors, told about this in an interview with our correspondent.
“Indeed, the exchange rate difference is a tax benefit that is taxed. And the rate is even higher than 13%. Information on accrued income comes to the inspection when it is available tax agent, which is the employer or tax inspector. The currency data will most likely be sent to the inspectorate, and this process will be controlled, but so far the obligation to declare income in currency lies with the individual himself.
According to Rykov, due to the frequent difference in the exchange rate, the state will soon strengthen control over foreign exchange transactions. In addition, when changing currency at an exchange office on the street, you should not hope that it does not belong to the bank. In fact, almost all exchange offices are controlled by banking agents.
“Currency exchange control has not yet been adjusted, but over time, given the fluctuations in the exchange rate, control will be complete, as is the case with cars and apartments. Exchange offices outside the activities of banks now practically do not work. Even if there is no bank sign hanging on it, it most likely refers to a bank agent. Individual items were banned for control purposes.”
According to the economist, in the West, foreign exchange income is taxed, and non-payment threatens with punishment.
“Abroad it is subject to taxation. If you do not pay, you will be charged a fine and penalties, and may even go to trial,” he said.
Attention
Tax Code of the Russian Federation, which discusses the features of determining the tax base upon receipt material gain, income received by an individual when purchasing (selling) foreign currency at a rate lower (higher) than the official one is not mentioned. In the letter of the Ministry of Finance of Russia dated December 24, 2012 No. 03-04-06 / 4-361, the financial department explained that exchange difference, formed due to deviation exchange rate sale (purchase) of foreign currency from official exchange rate, is in the nature of a material benefit, but is not included in the list of cases when it is taxed on income (Article 212 of the Tax Code of the Russian Federation).
Suppose an investor exchanged rubles for US dollars, and then invested them in something (for example, bought some ETFs). The question of whether it is necessary to calculate personal income tax on income received as a result of currency exchange will not arise until the investor exchanges US dollars back for rubles or some other currency.
If such a transaction occurs, it is necessary to look at how many years the investor has owned the currency that is now being exchanged. If the holding period is more than three years, then there is no need to file tax return, and also it is not necessary to calculate and pay personal income tax from the transactions carried out.
If the term of holding the currency is less than three years, then, according to tax code At the very least, you will have to file a tax return. Moreover, the investor will need to do this on their own, because. the bank or broker in this case will not be tax agents.
However, even if a declaration has to be submitted, personal income tax as a result of currency exchange may not arise. The investor can take advantage of tax deductions: income received as a result of currency exchange can be reduced either by the amount of expenses incurred earlier (that is, by the amount that had to be paid when buying the currency), or by a fixed amount of 250,000 rubles.
Although in some such cases there are certain nuances, but in general, at the moment, Russian legislation that is the order of operations.
Another question is how all this is actually applied and controlled in practice. To date tax authorities it is quite difficult to track and compare such currency exchange transactions. Therefore, in most cases, the declaration of such income and the payment of tax from them occurs either if the investor himself voluntarily submits all documents to the tax office, or if the tax office, for example, as a result of checking a bank or broker in some way separately will reveal such transactions and the fact that no tax was paid on them.
1) You must be prepared to document the period of ownership of the currency or the amount of expenses incurred when acquiring it. It is best to store all related documents somewhere separately.
For example, if an investor purchased currency once 3 years ago, the second time last month, and today he sells part of the currency, if there are supporting documents, you can always refer to the fact that the currency that was purchased 3 years ago is being sold, so apply declaration and pay personal income tax in this case will not be necessary.
2) If possible, avoid currency exchange transactions in situations where the term of currency holding can be clearly established, and it will be less than three years.
Suppose an investor buys currency on the Moscow Exchange through a brokerage account, does not withdraw the received currency anywhere and keeps it on the account, and then sells it a month later. In this case, the term of holding the currency will definitely be less than three years, and this fact can be quite easily established from brokerage reports. Therefore, if the investor does not file a tax return, the risk of receiving claims from tax office in such a situation will be higher.
3) Remember about minimum term ownership (3 years), as a result of which there will be no need to file a declaration and no need to pay personal income tax, as well as tax deductions(for the amount of expenses incurred and for the amount of 250,000 rubles).
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The Ministry of Finance may refuse pending currency purchases. This issue is being discussed with central bank ohm.
The Ministry of Finance will discuss with the Central Bank the possibility of reducing pending purchases of foreign currency on the market through spending from the National Welfare Fund (NWF). This was reported to journalists by the Deputy Minister of Finance of the Russian Federation Vladimir Kolychev.
“The Central Bank has its own purchases outside the budget rule now, the so-called additional purchases, which were not bought in the fall. We will discuss with the Central Bank the topic of simply compensation through these additional purchases of what should have been purchased Russian currency for the purposes of financing Russian projects. Thus, only purchases within the budget rule will remain on the market, which will greatly simplify the understanding of market participants. This is not a solution yet, we are discussing this with the Central Bank," TASS quoted Kolychev as saying.
In accordance with budget rule, The Ministry of Finance buys foreign currency on a monthly basis additional income from the sale of oil for more than $40 per barrel, the Ministry of Finance sends this currency to reserves. The Central Bank of the Russian Federation acts as an agent of the Ministry of Finance for procurement on the open market.
In August 2018, the Central Bank temporarily abandoned this practice due to market volatility and a sharp weakening of the ruble due to the threat of US sanctions, the Ministry of Finance began to buy foreign currency directly from the Central Bank without making equivalent transactions on the domestic market.
From January 15, 2019, the Central Bank returned to currency market, and from February 1, he began to purchase foreign currency for the Ministry of Finance, which was postponed last year.
The Deputy Minister of Finance of the Russian Federation noted that the Central Bank is likely to reduce purchases of foreign currency by an amount equivalent to the amount of expected spending from the NWF.
"Sizes are similar. Central Bank about 1.4 trillion rubles will remain there. or less for the next two years. And from the NWF, a limit of 1 trillion rubles is expected. for three years. Perhaps, for the next six months, the Central Bank will continue deferred purchases, and when these volumes equalize, mutual accounting will be possible," Kolychev stressed.
The government can start investing from the NWF, which accumulates oil and gas revenues, when its liquid part exceeds 7% of GDP. According to the Ministry of Finance, on November 1, the volume of the NWF exceeded 7.9 trillion rubles, or 7.3% of GDP. The Ministry of Finance predicts that by the end of 2020 the volume of the NWF will reach 8.5% of GDP.
If the decision is made, it is unlikely that it will significantly affect the market. For almost the entire year, the ruble feels stable, and almost no one remembers the purchases of foreign currency by the Ministry of Finance. Obviously, the department has no task to put pressure on the ruble.
In the period from November 8 to December 5, the Ministry of Finance planned to purchase foreign currency for 228.2 billion rubles. The daily volume of purchases during this period was to be 11.4 billion rubles. Taking into account the deferred purchases, the daily volume of additional transactions may amount to approximately 2.8 billion rubles, thus the total amount of purchases increases to 14.2 billion rubles.
Traders concentrate on purely market factors. This year, the ruble is strengthening mainly due to demand from non-residents. Bond yields were quite high, and then the Bank of Russia signaled the resumption of the cycle of rate cuts.
All this led to an increase in demand for Russian securities and, consequently, for the ruble.
