On February 2, Ksenia Artemyeva, Operations Director of the Fast River fintech platform, told Izvestia what “pitfalls” to expect when transferring money from card to card.
“Transfers from card to card by phone or card number are now in the financial everyday life of each user. However, despite the apparent simplicity of such financial transactions, errors can occur even with standard P2P transfers,” the expert said.
Thus, the vast majority of errors are due to the inattention of the translator. At the same time, the return of such transfers is extremely difficult, but not impossible, Artemyeva said.
“Usually, transfers by card number take a few hours. Until the bank has completed the transaction, you can try to cancel it through the bank’s support. If the transfer is carried out through the SBP, the operation takes place almost instantly, and it will no longer be possible to return the money. Remember this when making transfers, and carefully check the payment details, ”the specialist recommended.
Also, when transferring funds, it is important not to forget about the commission, bank rates and transaction conditions, Artemyeva added.
“SBP transfers are free in most banks. However, each bank has its own limits, after which new transfers will already be with a commission. The size of the commission also differs from organization to organization. The same is true for transfers from card to card. In addition to the general limits on operations, there are also personal limits. For each user, they are set individually,” she said.
At the end of December 2022, it became known that Russian banks were introducing cashbacks for purchases using QR codes through the Fast Payment System (FPS). Cashback in partner stores was introduced by Alfa-Bank, its representative told Izvestia. He clarified: electronics stores re:Store, Samsung and Xiaomi have already joined the action.