Cash Clearing Services

Alfa-Bank is the largest Russian private bank with wide experience in providing our customers with full range of banking services. Over 400 banks and non-banking credit institutions from Russia and abroad maintain correspondent account with ourselves. Widespread correspondent and branch network allows real-time cross-regional payments.

Our clients solidly benefit from accessing features and advantages of cooperation with Alfa-Bank in the area of cash clearing services and linked activities.

Russian ruble clearing is our core domain with following instruments available to our clients:

  • RUB payments through the Bank of Russia’s batch system in Moscow region;
  • Cross-region RUB payments through the system of the Bank of Russia;
  • Real-time RUB payments through the BESP (RTGS) system of the Bank of Russia towards any participating payee’s/intermediary bank in any region of Russia, with no extra charge;
  • Book transfers in favor of Alfa-Bank customers and through intermediary banks maintaining RUB accounts with Alfa-Bank, free of charge;
  • Processing of outgoing RUB payments made by individuals, corporate customers, as well as principal payments with due regard to Russian law and applicable international rules and practices;
  • Processing of incoming RUB payments with no limitations;
  • Once introduced by Bank of Russia and CLS Bank: CLS settlements in Russian rubles.

Foreign currency correspondent accounts we maintain in our books are supported by best performing Nostro agents worldwide.

  • USD and EUR payments get executed same day value;
  • Payments in other European and CIS currencies get executed next day value;
  • Payments may be routed through largest European, Asian, US banks;
  • FX transactions supported across two accounts with Alfa-Bank in different currencies;
  • Payments may be executed with conversion in the currency other than the one of the account.

In addition to basic access granting Alfa-Bank provides our customers with comfortable communication procedures, full assistance through any issues associated with customer’s activities in Russia, and a set of liquidity support solutions.

Fees and interest rates effectual since August 1, 2017

Cut-off times

  • For outgoing payments value today received electronically: 5pm Moscow time;
  • For book transfers value today: 7pm Moscow time;
  • All receipts to the account are credited with good value (including late receipts through 5th payment batch of the Bank of Russia);
  • Payment orders may be accepted through extended operational hours upon pre-agreement on case-by-case basis.

Interest on account balances

Interest is accrued on balances of accounts in RUB, USD and EUR based on daily balances and according to the Schedule of interest established in Alfa-Bank. Rates are calculated based on benchmarks: RUONIA, LIBOR USD o/n, LIBOR EUR o/n, respectively. Increased credit interest may be received on amounts under hold subject to separate deals concluded under an Additional agreement.

Contact us

For purposes of setting up correspondent accounts with Alfa-Bank as well as discussing any related matters please contact our Financial Markets Sales team. We’ll be happy to guide you through the procedures and provide comprehensive information regarding our bank and Russian environment as a whole.