The Central Bank of Russia reported that legal changes effective 30 May 2025 cap transfers by individuals at RUB 100,000 when using simplified identification without opening a bank account. Transfers above this threshold must be made either after completing full identification or via the individual’s bank account. The amendments also increase the maximum balance for e-wallets opened using simplified identification to RUB 100,000 from RUB 60,000. Simplified identification requires providing name, surname, patronymic, and passport series and number, while full identification additionally requires an address and Taxpayer Identification Number (if any); previously, there was no prescribed limit on the amount that could be transferred without opening an account. The changes are framed as an anti-money laundering and counter-terrorist financing measure, including to reduce the use of money mules.
Central Bank of Russia 2025-05-30
Central Bank of Russia sets RUB 100,000 limit on transfers using simplified identification and raises e-wallet balance cap
Effective 30 May 2025, the Central Bank of Russia caps individual transfers at RUB 100,000 using simplified identification without a bank account. Transfers above this require full identification or a bank account. The maximum balance for e-wallets with simplified identification rises to RUB 100,000 from RUB 60,000, as part of anti-money laundering and counter-terrorist financing efforts.