WebMoney suspended transfers to ruble wallets for six months

Wallet owners will only be able to pay for purchases and fines, as well as withdraw money to their own card.

• JSC Bank “KKB”, the guarantor and settlement bank of the system for ruble wallets (WMP, WMR) received an order from the Central Bank. Restrictions will take effect from 23:59 on December 6.
• Owners of WMP and WMR wallets will only be able to pay for purchases, fines and taxes, as well as withdraw money to their own bank accounts via the fast payment system.
• A Webmoney representative told RBC that the Central Bank’s order came as a “surprise” to them, since the company has no “violations related to capital outflows or payments on illegal platforms.” The regulator’s decision could have been caused by “formal insignificant remarks,” the company said.
• According to its own data, Webmoney has more than 70 thousand users. Since the beginning of December the platform processed about 760 thousand transactions.
• In December 2020 the Central Bank banned Qiwi for six months from making payments to foreign trading companies and transferring to corporate clients’ prepaid cards. The regulator also fined the company 11 million rubles for “violations and deficiencies related to reporting requirements and record keeping.”