Banks across Russia have stepped up checks on large cash withdrawals and some customers are finding transactions blocked until they confirm activity by phone. At the same time the Central Bank has moved to encourage use of the digital ruble by cutting fees on many types of transactions, a policy that could accelerate adoption of the new currency.
Customers report that when they attempt to withdraw a large sum from an ATM the operation is often interrupted and the bank phones to seek confirmation. If the client confirms the withdrawal, they are sometimes instructed to try again and withdraw the funds within a short window, commonly about five minutes. Similar precautionary blocks have affected transfers between a customer’s own accounts, and in some cases cards have been temporarily frozen.
Why digital ruble payments are being promoted
The Central Bank has put in place several incentives to promote digital ruble payments. Transactions from citizens’ and companies’ digital ruble accounts to state recipients will carry zero commissions. A broader no-fee period for business transactions in the digital ruble has been extended until the end of 2026, while citizen-level transactions remain free. Regulators say the measures are intended to smooth the rollout and encourage uptake among consumers and merchants.
Banks say these security procedures are required under anti-money laundering and fraud-prevention rules. Financial institutions face heavy regulatory risk if they fail to monitor suspect operations. The Central Bank and Rosfinmonitoring may apply sanctions up to licence revocation for insufficient controls, and banks say they prefer to err on the side of caution, even if that means short-term inconvenience for clients.
Customers are being advised to avoid sudden changes in online banking habits, to specify the purpose of payments where prompted, and to use familiar devices and networks when making transactions. Industry experts note that simple behavioural steps can reduce the likelihood of automated blocks and speed up legitimate operations.
For many consumers the measures are a trade-off between convenience and security. The extra verification can be frustrating, particularly when access to cash is urgent. Bank spokespeople say the checks reduce fraud and protect clients from stolen-card and account-takeover schemes. From a compliance perspective banks regard the steps as essential to meeting stringent regulatory expectations.
Analysts suggest the Central Bank’s fee concessions for the digital ruble form part of a broader strategy to modernise payment infrastructure and strengthen domestic rails. Wider adoption of central-bank-backed digital currency could lower transaction costs, speed up settlement and provide a regulated alternative to other payment networks. It may also support longer-term policy goals around payment sovereignty and financial stability.
Retailers and businesses are watching closely. The extended fee-free period for business transactions through 2026 provides an incentive for merchants and corporate payment systems to integrate digital ruble capabilities without immediate cost concerns. For citizens, the assurance of free transactions is likely to make the digital ruble a more attractive option for routine payments.
The combination of tougher anti-fraud practices at banks and incentives from the Central Bank illustrates a dual approach: tighten controls to protect the system now, while using financial incentives to encourage migration to the digital ruble in the near term. How quickly consumers and businesses adjust will depend on user experience, merchant acceptance and the ease of integrating digital ruble payments into existing banking applications.
For now customers are encouraged to follow bank guidance, keep payment device settings unchanged where possible, and contact their bank promptly if a transaction is blocked. The policy mix aims to reduce fraud and foster trust in a new national payment option while regulators monitor the rollout and adjust measures as necessary.
Key Takeaways:
- Banks in Russia are increasingly blocking large ATM withdrawals and calling customers to confirm transactions to combat fraud.
- Clients have reported card blocks after transferring money between their own accounts as banks ramp up anti-fraud checks.
- The Central Bank has introduced incentives for digital ruble payments, including zero commissions for citizens and extended fee waivers for business until the end of 2026.
- The measures aim to improve payment security while encouraging wider use of digital ruble payments and modernised payment rails.
