Banking in Russia
Information on opening a bank account in Russia, what documents to provide, credit and debit cards, payment methods, cheques and more…
Last updated: November 5, 2021
The banking sector in Russia consists of a number of major retail banks, both state-owned and privately held, as well as many other smaller banks. All are generally safe and efficient, although the majority of people prefer to bank with well-established state-owned or private banks. Competition is usually strong for services such as mortgages and personal credit.
Banks in Moscow and Saint Petersburg are the most likely to have English-speaking staff (usually at the central branches), especially those with an English website.
Problems can occur when small or private banks operate a policy that is very different to that of most retail banks. It is always worth making sure that a bank’s policies are understood before using its services.
Main Banks
Below is a list of some of the most well-known banks in Russia.
- Sberbank
- Bank of Moscow
- VTB 24 (partially in English)
- Alfa Bank
- RosBank
- PromSvyazBank (in Russian)
- TransCreditBank
- Bank UralSib (in Russian)
- Russian Standard Bank (offers services as a partner of American Express)
- OTP Bank
- For a regularly compiled rating of Russian banks based on their net assets on the Banki website: Click here
Other banks in Russia
- Master Bank
- Trust Bank
- Tinkoff Credit Systems (online banking, credit cards)
- Bank24 (online banking, in Russian)
- Okean Bank (online banking, in Russian)
- FinServis (in Russian)
Foreign banks
It is also possible to open a current account with a foreign bank that has a presence in Russia. These include: