Uzbek bank tightens servicing of accounts of Russians

The Uzbek Ipak Yuli Bank sent out massive notifications to clients from Russia asking them to provide the personal number of an individual - otherwise restrictions will be imposed on the card and account. To obtain a number, temporary registration is required Application for a personal identification number of an individual (PINFL)

Uzbek Ipak Yuli Bank (Ipak Yuli) asked clients from Russia to provide a personal identification number of an individual (PINFL) so that they could continue to fully use their cards. RBC reviewed two client mailings from the bank, as well as the response from the support representative.

“We need your PINFL. Without it, you will not be able to use banking services,” the text of the notification says. Customer support clarified that this requirement was established in accordance with the instructions of the Central Bank of Uzbekistan dated February 8, 2023. This document came into force on February 9, 2023. It states that deposit accounts for resident and non-resident individuals should be opened by banks on the basis of PINFL.

As clients of Ipak Yuli Bank said, the bank sent out the request to provide PINFL only today. One of the clients explained that he opened an account in July 2022 - then only a foreign passport of a Russian citizen and a local SIM card were needed to open it.

As a representative of the bank’s customer support clarified, PINFL is not required only for paying for goods and services using cards, withdrawing cash in a foreign network and transfers between cards. Thus, without providing PINFL, clients will not be able, for example, to transfer funds to an account.

RBC sent a request to Ipak Yuli Bank and the Central Bank of Uzbekistan. As of February 1, 2024 , Ipak Yuli Bank is in 11th place in the country in terms of assets, its market share is 3%. In total, there are 35 credit organizations operating in Uzbekistan.

Foreign citizens can apply for a PINFL at the passport office or at the Public Services Center in Uzbekistan. To obtain it, you need a passport and a temporary registration document. The production time for a personal identification number is two to four business days, according to the bank’s website. It clarifies that PINFL can be transferred to the bank branch where the account was opened, or sent to the application chat or to the bank’s telegram channel.

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At the end of 2023, US President Joe Biden signed a decree according to which foreign banks could be subject to restrictions for helping with transactions with sanctioned entities and supplies to the Russian defense industry. After this, another wave of tightening the terms of service for Russians in a number of foreign banks and difficulties with making payments and transfers began. For example, in mid-February, one of the largest banks in Turkey, Denizbank, sent letters en masse to clients from Russia asking them to provide documents confirming the right to reside in Turkey. Before this, the bank opened accounts for Russians without a residence permit.

In March 2022, the international payment systems Visa and Mastercard left Russia, as a result of which their cards stopped working abroad. Russians need cards from foreign banks, including Uzbek ones, to make non-cash payments abroad and transfer funds to them from Russian accounts.