Bank of Moscow introduces mobile application for money transfers

The Bank of Moscow has launched Transactions, its new mobile app that allows for transactions between cards from any Russian bank.

The Bank of Moscow has launched Transactions, its new mobile application that allows for fast and safe transactions between cards from any Russian bank.

The mobile application does not require a sender to know a recipient’s card number because transactions can be made with a phone number, an email address or a Facebook or VKontakte social network account, reports CISTran Finance.

Maxim Patrin, vice president of Bank of Moscow, said: “We have created a service, allowing you to quickly and securely send money to your family and friends.

“We are sure that our Translations mobile application will be popular not only among the customers of the Bank of Moscow, but among all the citizens of our country who have a bank card and a smartphone. In the near future we plan to launch more new mobile financial services for the widest possible audience.”

The platform also allows users to connect an unlimited number of cards to a user’s account and to name and colour them to make distinguishing accounts from each other easier.

Bank of Moscow cardholders can make transfers between their cards, as well as deposit credit cards and send money to each other, without incurring any fees. Transfers from cards of other banks or transfers to third-party banks will pay a 1.5% minimum, as reported by the publication.