Yandex.Money Top-Ups Via Sberbank Now Commission-Free

Internet, June 3, 2013.

Yandex.Money users can now top up their accounts via Sberbank ATMs and payment terminals without facing any commission charges. The service is available in all Russian regions, using cards from any bank.

Sberbank has about 80,000 terminals and ATMS in cities and towns all over the country. Up to 10,000 rubles may be transferred from a bankcard to a Yandex.Money account in one session, with the funds appearing in the electronic wallet instantaneously.

Sberbank’s clients can also top up their Yandex.Money accounts commission-free using the bank’s mobile banking option or its online banking system Sberbank OnLine. The advantage of these methods is their round-the-clock accessibility without leaving home.

“We have noticed that our customers increasingly prefer to top-up their electronic wallets from bank accounts,” Dmitry Danilenko, Chief Commercial Officer of Yandex.Money. “This method is overtaking the popularity of cash. And with commission-free transfers from bankcards, its growth rate will accelerate. Cancelling commissions on the nation’s largest network of ATMs and payment terminals will make Yandex.Money top-ups more convenient and more economical.”

Yandex.Money accounts can also be topped up commission-free using the ATMs, online banking, or cash payments at the offices of the service's partner banks.

Yandex.Money is the largest electronic payment system in Russia offering easy, safe and reliable methods of paying for purchases online. As of early 2013, the system had over 13 million accounts. The platform handles more than 9,000 new accounts that are added daily and more than 120,000 customer payments for products and services.