Tinkoff: UnionPay Cards

2023: Product Announcement

On May 23, 2023, Tinkoff Bank began issuing UnionPay multicurrency cards, which will operate in many countries of the world. The release of physical cards will be paid (it can be made using the support service or independently through the application), the cost will be 1000 rubles. At the same time, users have the opportunity to order a virtual card, it will be free.

The bank warned that UnionPay cards would not work in countries, European Union,,, and USA Great Britain. Georgia Israel However, they can pay or withdraw money from an ATM, in particular, in Turkey, the UAE or Thailand, as well as in many countries, Asia Africa and South America. The credit institution's website says the tariff changes relate to "the possibility of issuing and servicing additional settlement cards and credit cards of the UnionPay payment system." As the technical support operator explained, cards of the Chinese payment system will be issued as additional to those available to customers.

Tinkoff Bank began to issue UnionPay multicurrency cards

By May 23, 2023, UnionPay is the only international payment system to continue operating in. Russia Officially, UnionPay did not announce restrictions on working with, banks which are on the sanctions list. However, at the end of April 2023, the publication RBC , citing a source, reported that due to fears of sanctions, UnionPay banned the issuance of its cards to such banks, and also limited the reception of its foreign cards at the POS terminals of these credit institutions. On February 25, 2023, Tinkoff Bank fell under sanctions, and in European Union May imposed restrictions on the credit institution. Britain

Tinkoff Bank received the right to issue cards of the Chinese system in the fall of 2022 and began to issue them for its employees and a limited number of customers.^[1]

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