Accuracy

Does Russian Bank Sberbank Limit Cash Withdrawals to $20?

In a post shared on a Twitter account on February 25, 2022, it was claimed that had limited cash withdrawals to $20.

The same claim is shared by various social media users around the world.

Did Sberbank Set a Limit of $20 for Cash Out?

On February 24, 2022, news came to the fore that there were queues in front of various Russian banks and ATMs after Russia’s operation to Ukraine. On sanctions such as the rapid depreciation of the Russian ruble against the dollar and the removal of some Russian banks from the SWIFT system; Reports escalated that Russians were waiting in long lines in front of ATMs, worried that their debit cards might not work or that banks would limit their cash withdrawals.

Claims that Russia’s largest bank, Sberbank, imposed a $20 limit on cash withdrawals after the latest developments, first began to spread on February 25, 2022. However, there is no report or evidence to support the claim that Sberbank has limited cash withdrawals to $20. on these dates. In the analysis prepared by Snopes on the subject, a spokesperson from Sberbank made the following statements via e-mail:
“This information contradicts the facts. Sberbank continues to fully fulfill all its obligations, including withdrawals from accounts. All funds are always available to customers.”

The European Central Bank said on Monday (28 February) that Vienna-based Sberbank Europe AG and its branches in Slovenia and Croatia “may not be able to pay off the bank’s debts and other obligations as they come due” after experiencing significant deposit outflows. because of the impact of the conflict on their reputation. In Slovenia and Croatia, it was reported that Sberbank temporarily closed branches or limited cash withdrawals last week due to high customer interest.

In Croatia, the bank’s customers will be allowed to withdraw a maximum of around 1,000 euros per day for the next two days. In Slovenia, branches will be closed for the next two days, after which withdrawals will be limited to 400 euros per day. Similar situations are observed in the Czech Republic and Hungary. However, it is not true that Sberbank’s daily withdrawal limit was limited to $20 after the allegations started.

the claim is WRONG

In a post from a Twitter account, it was claimed that Russian bank Sberbank limited its cash withdrawals to $ 20. As of February 28, 2022, actions such as Sberbank’s daily withdrawal limit of 400 Euros and 1000 Euros in Slovenia were taken. In Croatia, however, there are no reports or evidence that Sberbank’s daily withdrawal limit is limited to $20 per day.

Mehmet Sarıusta

Hello, I'm Mehmet, I write content for Expat Guide Turkey every day. Don't forget to check it out!

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