Tinkoff to suspend transfers in dollars to Kazakh Freedom Finance

Tinkoff to suspend transfers in dollars to Kazakh Freedom Finance
Photo is illustrative in nature. From open sources.

From July 18, 2023, Tinkoff Bank customers will not be able to transfer dollars to Freedom Finance Bank in Kazakhstan. This is reported by TASS with reference to the press service of the bank.

“We have informed clients about the suspension of SWIFT transfers in dollars to the Kazakhstani bank Freedom Finance. The restrictions will come into effect on July 17, 2023. At the same time, transfers in rubles, tenge and yuan continue to work,” the message says.

Earlier on July 5, Tinkoff had already introduced restrictions on currency transfers to this bank. Now you can transfer only up to $20 thousand at a time, and the commission is 1%.

In March, Tinkoff temporarily stopped transfers in euros and dollars to Georgia, Mongolia, Serbia and Bosnia. On March 5, Tinkoff stopped making SWIFT transfers to Turkey in dollars and euros, also due to sanctions. 

On February 25, the European Union imposed  sanctions against Tinkoff. Tinkoff said that the restrictions would not affect the bank's customers, as it had prepared for the introduction of restrictions.

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