Qazkom has connected its subsidiary bank in Russia to Faster* money transfer system
Almaty, 02 August 2017 – JSC Kazkommertsbank (further “KKB” or the “Bank”) announces on Moskommertsbank, a banking subsidiary in Russia, having joined Faster, KKB’s in-house international money transfer system designed for retail clients. The process of having Halyk Bank of Kazakhstan, the parent bank of Kazkommertsbank, to join Faster is currently in progress.
The new service is now available at six Moskommertsbank’s retail outlets in Moscow, St.Petersburg and Kaliningrad.
According to Nurlan Zhagiparov, Managing Director of KKB, money transfer operations between Kazakhstan and Russia are of high demand. Over the course of 2016 partials of two said countries made 1,755 thousand payments for KZT298 bn. which accounts to more than 50% of the money transfer market to all directions. Moskommertsbank having joined Faster will be able to increase the volume of payments to Russia. It is expected that Halyk Bank Kazakhstan will join Faster by the end of 2017 with other banks within the Halyk Bank Group to join further on.
Processing of payment operations using Faster can be made at retail outlets of Qazkom and its subsidiary banks, as well as via its network of partner banks accepting «Golden Crown» and Intel Express money transfers. An integrated network of Faster money transfers accounts for 49 000 outlets in 37 countries such as Russia, Uzbekistan, Kyrgyzstan, Tajikistan, Azerbaijan, Armenia, Ukraine, Turkey, France, Great Britain, Austria and other countries.
Funds can be sent and received in KZT, USD, EUR and RUB with maximum amount to be limited to KZT3 mln., US$10,000, € 10,000, RUB 500,000.
Main Faster advantages are its high speed, convenience, reliability and flexible terms and conditions (http://ru.kkb.kz/retail/page/Tariff_FASTER) without account opening and against ID submitted.
* FASTER – is a payment system of international money transfers, which has been registered in Kazakhstan Registrar of payment systems on 10.02.2017 and being operated by Kazkommertsbank.
Ilya Borovoy, Press Secretary
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