Russia

Ruble payments to Russia require a mandatory currency transaction code (also known as payment purpose or VO code). This code describes the purpose of a cash payment by non-residents and residents. Clients were advised that a new regulation from the Central Bank of Russia ("CBR"), 138-I, went into effect on October 1, 2012, amending the codes . This does not apply to transactions in other currencies. It only applies to payments being made in Russian Ruble that require a VO code.

To avoid the risk of payments being delayed or rejected, use the new codes  when making a payment.

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