Customers Complaint: Alfa-Bank has Disabled Foreign Currency Transfers

An increasing number of Alfa-Bank customers have complained recently about continued disruptions. Most issues concern currency transfers: clients are annoyed by delays in payment postings or even complete denial of money transfers abroad.

International companies holding accounts with Alfa-Bank are not able to carry out transactions at all. Alfa-Bank is one of the most popular commercial banks in Russia. During the quarantine, many banks, especially commercial ones, lost their ground, and there are rumors of the bank’s bankruptcy but Alfa-Bank owners have already refuted the information.

Delayed or denied money transfers: consequences

Delayed or failed customer deals are one of the negative outcomes of continuous interruptions of money transfers. Overdue payments or advances under contracts may backfire on the company, damaging its reputation or even thwarting the deal.

So individuals and entities will not be able to receive expected amounts in their accounts on time. Do you have an Alfa-Bank account? Our advice is to add several extra days when calculating the money transfer term.

How does one make oneself and their money safe? 

These days one needs to be prepared for various problems and surprises when interacting with banks. SBSB lawyers recommend opening an additional account for the company, thus separating your money and not risking the whole amount held in one bank account.

Should you need any help with opening an account in a bank or payment system, SBSB lawyers will be happy to advise you. We will pick an effective solution customized to your project. By the way, you can join our Telegram chat for a free consultation.