|On November 15, 2005 the first money transfer via “VMT” system was paid out at the head office of JSCB “Eximbank”. “VMT” transfers can be effected in US dollars, Euro and Russian Rubles among 12 member-countries of the system: Russia, Moldova, Ukraine, Latvia, Georgia, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Spain.
The main advantages of the VMT system are:
Simplicity of transfer: to send or receive money it is enough to present ID and to fill out a form.
it is not necessary to present the beneficiary’s address or to open any accounts by the sender or by the beneficiary.
Quickness at minimum costs: transferred money are available for the beneficiary after 10 minutes; no commission is paid by beneficiary.
the commission of 1,5% of the transferred amount is deducted only from the ordering customer.
Large network: over 2 700 offices are available in the member-countries.
The implementation of the 7-th fast money transfer system by the Eximbank will give the population the opportunity to make quick and reliable money transfers to their relatives at minimum costs, and will increase the number of the bank’s clients and the volume of the retail operations.