Foreign Exchange Transactions

Foreign Exchange Transactions

Garant-Invest Commercial Bank (JSC) offers private clients a mutually beneficial partnership in the foreign exchange market.

Transactions for purchase/sale of foreign currency in the Bank have a range of advantages, including:

  • Transparency of FX transaction terms: the transactions are settled upon the current foreign exchange market rate established by the Moscow Interbank Currency Exchange.

  • Fast settlement: funds received during FX transactions are credited by the Bank to the relative Client’s account the same day, provided that the application has been submitted to the Bank within the transaction day.

  • The Bank settles transactions with various foreign currencies including USD, EUR, CHF, GBP, CNY, etc.

  • The Bank offers flexible rates. The commission amount paid by the Client depends on the transaction amount and the Client’s engagement in the Group and Bank business.

Rate***
 

FX transactions (Russian rubles / US dollars / euro)

Up to 999,999 / 14,999 / 14,999*

1,000,000 / 15,000 / 15,000

to 6,999,999 / 99,999 / 99,999**

7,000,000 / 100,000 / 100,000

to 13,999,999 / 199,999 / 199,999**

exceeding 14,000,000 / 200,000 / 200,000**

Basic

0.8

0.6

0.5

0.25

Wire purchase or sale of foreign currency for the Russian rubles and FX of one foreign currency into another one is settled under the FX rate (cross rate) determined as the foreign currency purchase/sale quotation at the moment the exchange rate is established upon the foreign exchange market instruments of the Moscow Exchange available for trading, corrected by the short-term volatility (instability) index of the exchange rate. Short-term volatility index of the exchange rate during trading of the required foreign currency at the foreign exchange market of the Moscow Exchange in terms of standard dynamic pattern of the exchange rate equals to 0.3%. If no trading or significant dynamic pattern of the exchange rate trading of the required foreign currency at the foreign exchange market of the Moscow Exchange is present, short-term volatility index of the exchange rate may exceed the abovementioned value. The established exchange rates for the foreign currency purchase/sale may be readjusted by the Bank in case if the difference between the value of the established purchase exchange rate or sale exchange rate and the value of the relative purchase quotation or sale quotation of the foreign currency established at the moment of such adjustment for the foreign exchange market instruments of the Moscow Exchange available for trading equals to 0.1% or less. During settlement of FX transactions with the GBP and CHF the ranges established for USD are applied.

** Wire purchase or sale of foreign currency for the Russian rubles and FX of one foreign currency into another one is settled upon the individual (special) FX rate (cross rate) determined as the transaction rate settled by the Bank during trading of the Moscow Exchange foreign exchange market or off-exchange interbank market for the purpose of the relative FX transaction order execution. During settlement of FX transactions with the GBP and CHF the ranges established for USD are applied.

*** The commission amount is calculated of the currency amount indicated in the FX transaction order and is charged as a single transaction upon the Client’s discretion or in the Russian rubles from the Client’s settlement (current) account using the settled FX transaction rate or, in case of FX transaction of one currency into another, using the foreign currency rate determined under the General Exchange Rate Formation Principles (see above) or in the foreign currency from the relative Client’s account upon the indicated rates.

Approved by the Management Board of Garant-Invest Commercial Bank (JSC) (Minutes of the Meeting No. 43 dated 20 December 2016).
Valid since 01 January 2017