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Opening a bank account in Russia

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How to open a bank account in Russia? What are the formalities to be filled in? Find out in this article.

If you have decided to settle in Russia, you will probably want to open a bank account, particularly if you are working there. Opening a bank account will not only allow you to receive your salary but also to settle your monthly bills by direct debit.

Formalities regarding opening a bank account in Russia are quite easy and should not take more than 15 minutes. But you can still inquire on these before taking an appointment with the bank of your choice.

Russia hosts many national and international banks, namely:

  • Absolut Bank
  • Alfa Bank
  • BNP
  • BSGV
  • Citibank
  • Delta Credit
  • International Moscow Bank which a branch of Unicredit (Italy)
  • Raiffeisenbank
  • Rosbank
  • Sberbank (Savings Bank of Russia)
  • VTB Bank.

Proceedings

In general, to open a bank account in Russia you will need the following documents:

  • an official notarized translation of your passport (this should cost some RR 400 for legal fees RR 400 for the translation)
  • your original passport with your visa stamp
  • your immigration card
  • your foreigner's registration number.

Note that some banks have English-speaking agents. Hence, you should not have much trouble in proceeding, even if you do not speak, understand or read Russian. Otherwise, you can also register for internet banking where you can obtain all information relevant to your account in English. You will also be able to make bank transfers without having to go to the bank.

Payment cards

Once you have opened your bank account, you can also request for a debit and payment card. However, Russian banks are less likely to issue checkbooks.

 Useful links:

The Central Bank of the Russian Federation www.cbr.ru
Expat.com - Russia Forum 
Sberbank www.sberbank.ru
VTB Bank www.vtb.com
CitiBank citibank.ru
Absolut Bank www.absolutbank.com
Alfa Bank alfabank.com
BNP Russia www.bnpparibas.ru
Delta Credit www.deltacredit.ru
Unicredit Bank www.unicreditbank.ru
Raiffeisenbank www.raiffeisen.ru
Rosbank www.rosbank.ru

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