Settlement and cash services

VTB offers settlement and cash services as detailed below:

  • Opening and maintaining loro correspondent accounts in all international key currencies, Russian roubles, currencies of the CIS and Baltic states and clearing currencies;
  • Carrying out settlements, including prompt settlements using VTB’s regional network and VTB Group’s foreign credit institutions;
  • Bank card transactions (VTB is Visa International’s national settlement bank in Russia);
  • Opening correspondent accounts (roubles, freely convertible currencies/ restricted convertibility currencies);
  • Maintaining a minimum required balance on correspondent accounts;
  • Opening trust management accounts;
  • Opening correspondent accounts for executing banking transactions via the VISA Int./MasterCard Int. international payment systems (VTB sponsors VISA Int./MasterCard Int. Principal Members);
  • Opening savings accounts for paying up share capital in foreign currency.

Starting from February 14, 2022 VTB Bank introduces a new version of the Rules for opening and maintaining correspondent accounts in the VTB Bank (PJSC) Head Office.

The major changes are the following:

  • bringing the provisions of the Rules in a line with the new requirements of legislation of the Russian Federation (including in the field of combating corruption and laundering of proceeds from crime and financing of terrorism);
  • introducing the obligation of the Respondent to take measures to counteract the implementation of transfers of funds without the consent of the payer, as well as to conduct a self-assessment of these activities on a periodic basis;
  • in accordance with the Respondents` requests, the term for familiarization with the new version of the Rules is extended to 30 calendar days.

The new edition of the Rules is available in the section for Financial Institutions / Settlements.

Starting from January 1, 2022 VTB Bank changes the Fees and Commissions.

Starting from December 27, 2021 VTB Bank will provide billing service and establish the minimum balance on the correspondent account by joining the Respondents to the public terms.

Please be informed about changes in the Tax Code of the Russian Federation [1].

Starting from December 31st, 2021, for foreign organizations — taxpayers of the Russian Federation a new obligation to annually provide to the Russian tax authorities an information about their participants and beneficiaries (hereinafter — information about participants) in accordance with Clause 3.2, Article 23 of the Tax Code of the Russian Federation will be introduced.

LORO respondents of VTB Bank (PJSC) are also recognized as taxpayers of the Russian Federation.

To be disclosed: information about all direct participants regardless of the share of participation as well as information about indirect participants if their share of participation exceeds 5%.

A first submission of information about participants must be completed by March 28th, 2022 (information should be valid as of December 31st, 2021).

Henceforth, foreign organizations must send information about participants to the Russian tax authorities on an annual basis not later than March 28th, valid as of December 31st of the year, preceding the year the specified information was submitted.

Information shall be submitted on paper or electronically in the form posted on the website of the tax authority (https://www.nalog.gov.ru/rn77/about_fts/docs/6021146/). In case of change in format of presenting data, a respective information will be additionally posted on the website of VTB Bank (PJSC).

Non-submission / late submission of information by foreign organization to the tax authorities of the Russian Federation shall be subject to a fine of RUB 50,000.

[1] Federal Law No. 100-FZ dated 20.04.2021

Terms and Conditions regarding the minimum balance in the account opened with the Head office of VTB Bank (PJSC), valid from 27.12.2021
198.00 kb, 17 December 2021, pdf

Terms and Conditions of remuneration payment deferral for settlement services rendered at the Head office of VTB Bank (PJSC), valid from 27.12.2021
202.77 kb, 17 December 2021, pdf

VTB Fee Schedule for Banks valid from 01.01.2022
171.71 kb, 17 December 2021, xlsx

Rules for Opening and Maintaining a Correspondent Account in the VTB Bank (PJSC) Head Office, valid from 14.02.2022
232.00 kb, 17 December 2021, pdf

Cut-off time for executing instructions in foreign currency on correspondent accounts opened for non-resident banks at VTB Bank (PJSC) (HO) (Moscow), valid from 01.10.21
21.50 kb, 20 September 2021, docx

Rules for Opening and Maintaining a Correspondent Account in the VTB Bank (PJSC) Head Office, valid from 21.07.2020
204.27 kb, 27 July 2020, pdf

Standard settlement instructions
317.98 kb, 15 September 2021, pdf

List of documents required to open the Bank Account for non-resident bank of the Russian Federation in VTB Bank (PJSC)
175.23 kb, 12 September 2018, pdf

Cut-off time for executing instructions in foreign currency on correspondent accounts opened for non-resident banks at VTB Bank (PJSC) (HO) (Moscow)
67.50 kb, 16 October 2020, doc

Cut-off time for executing instructions in the currency of the Russian Federation on correspondent accounts opened for non-resident banks at VTB Bank (PJSC) (HO) (Moscow)
50.50 kb, 16 October 2020, doc