Evrofinance Mosnarbank is among the major participants in the Russian foreign exchange market. The bank carries out currency conversion deals for its own purposes and on behalf of its clients on a daily basis. The bank is an active player on the market of clearing currencies and carries out deals with currencies of the CIS countries by clients' requests.
We offer our clients the most favorable terms of purchasing foreign currency against the Russian ruble. The clients can choose the most convenient of the three schemes of currency sale offered by the Bank.
INFORMATION FOR CLIENTS OF EVROFINANCE MOSNARBANK ON ACCEPTANCE AND EXECUTION OF REQUESTS FOR PURCHASE AND SALE OF FOREIGN CURRENCY FOR RUBLES
1. Purchase and sale of foreign currency
All foreign currencies shall be purchased and sold for rubles as per Schemes 1, 2 and 3 for the execution of Clients’ requests outlined in Item 2.
1.1. Execution of foreign currency purchase/sale transactions
Requests for purchase and sale of currency (hereinafter - Requests) as per the Bank’s template shall be received by the Bank before 12.45 p.m. Moscow time on the current business day. Requests filed after this time shall be deemed as received on the following business day of the Bank.
It shall be allowed to cancel a Request, to change the day of the execution of a Request or the conversion scheme in writing before 12.45 p.m. Moscow time on the Request execution day.
A Request shall be executed on the day of its receipt unless another day of execution is indicated in the Client’s written application.
2. Schemes for the execution of Requests for purchase and sale of foreign currency
Scheme 1. (conversion at the Bank’s rate)
Scheme 2. (conversion at the market rate)
before filing the Request, the Bank’s client shall contact an officer of the Exchange and Money Market Unit of the Bank’s Treasury Department to agree upon the Request execution rate and on the basic Request terms: currency, purchase or sale, day of crediting.
the Bank shall charge a commission fee for the Request execution as per the established Tariff Rates of the Bank.
Scheme 3. (conversion at the Bank of Russia’s rate)
commission fee under Scheme 3 = the Bank’s Tariff Rate +/- rate delta
rate delta = [(the Bank of Russia’s rate – the exchange market rate)/ the Bank of Russia’s rate] * 100%
In case of sale of foreign currency the rate delta shall be added to the Bank’s Tariff Rates, in case of sale - deducted from its Tariff Rates.
If the commission fee calculated under Scheme 3 results in a negative value, no commission fee shall be debited from the Client’s account.