Banking in Russia


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. The formalities for opening a bank account in Russia are not too strict and the whole process should not take more than thirty minutes. However, you can give the bank of your choice a ring to find out how long an appointment will take.

Russia hosts many national and international banks, such as:

  • Alfa Bank
  • Citibank
  • Delta Credit
  • Raiffeisenbank
  • Rosbank
  • Sberbank (Savings Bank of Russia)
  • VTB Bank.


In order 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 which will allow you to open an account even if you do not speak, understand or read Russian. After opening your account you can register for internet banking where you can access the online banking platform in English. You will also be able to make bank transfers without having to go to the bank.

Debit cards

Once you have opened your bank account, you can request a debit card. It should be noted that many banks charge you a service fee for account maintenance. However, with savings accounts offering interest payments of up to 8%, the small fee for the account servicing will not break the bank.

 Useful links:

VTB Bank
Alfa Bank

We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.
Recommend Your favourite team
Member since 01 June 2008
Small earth, Mauritius
Write a comment

See also

If you're looking to study in Moscow, gives you an insight into the Russian higher education system and some tips about student life in Moscow.
Want to become a digital nomad in Russia? The digital nomad's guide to Russia will help you make the most of your nomadic life abroad.
Pets are the most welcome in Russia. However, you are advised to inquire on health requirements regarding pets before traveling there.
Though there are stereotypes surrounding the Russian lifestyle, there are traditions, aspects of the cuisine and festivities that make it truly unique.
Moscow, the Russian capital city, offers expats a wide range of leisure activities. From sports and chess to the numerous ice rinks that pop up in winter.

Expatriate health insurance in Russia

Free advice and quotation service to choose an expat health insurance in Russia

Moving to Russia

Find tips from professionals about moving to Russia

Travel insurance in Russia

Enjoy stress-free travel to Russia