The Banking System of the CIS Countries: Where Are International Transfers More Profitable: Octobank, Kaspi, T-Bank

Uzbekistan, 10 March 2025 - In 2025, international money transfers remain a highly demanded service for CIS citizens. Many send funds to their families, pay for education and medical treatment, or conduct business transactions. However, transfer conditions, fees, and processing speeds vary depending on the country and bank. In this article, we will analyze the most cost-effective ways to send money abroad using banks from Uzbekistan, Russia, and Kazakhstan, comparing fees, convenience, and transaction speed.

Uzbekistan: Octobank – Reliable International Transfers via Visa Direct and SWIFT

In Uzbekistan, Octobank offers two primary methods for sending money abroad: Visa Direct and SWIFT.

Visa Direct – Instant Transfers to Visa Cards

This service allows sending money to Visa cards in 180 countries worldwide without opening foreign currency accounts. The system automatically converts the amount into the recipient’s currency.

• Fees:

1% (min. $2.40) for transfers from Octobank Visa cards.

2% (min. 40,000 UZS) for transfers from Uzcard.

1.5% (min. 40,000 UZS) for transfers from Humo.

• Speed: Instant.
• Advantage: Convenient management via the Octo-Mobile app.

SWIFT – Traditional Bank Transfer for Large Transactions

Suitable for tuition fees, medical expenses, or international business transactions.

• Fees:

0.4 BMA + 0.5% of the amount for transfers in USD or EUR to other Uzbek banks.

3 BMA + 0.5% of the amount for international transfers.

• Speed: Up to 7 business days.
• Limits: Equivalent to 100,000,000 UZS for personal transfers, no limits for non-residents' accounts.

Conclusion: Visa Direct is the most convenient and fastest option for private transfers, while SWIFT is a reliable choice for large transactions.

Russia: Convenient Transfers via T-Bank

In Russia, international transfers can be made through T-Bank, which offers three transfer methods: by phone number, card number, and SWIFT.

Transfers by Phone Number

Available for sending money to Abkhazia, Armenia, Belarus, Kyrgyzstan, Transnistria, Tajikistan, and Uzbekistan.

• Fees: Free within set limits.
• Free limits:

Up to 20,000 ₽ per month (without subscription).

Up to 50,000 ₽ with Pro subscription.

Up to 100,000 ₽ with Premium service.

• Above limit: 1% fee on the excess amount.
• Transfer limits: Up to 1,000,000 ₽ per transfer, 5,000,000 ₽ per month.
• Speed: Instant.

Transfers by Card Number

Allows sending money to Abkhazia, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and South Ossetia.

• Fees:

Free within limits.

1.5% for amounts exceeding the limit (min. 30 ₽).

• Limits: Same as phone number transfers.
• Speed: Up to 1 day, but usually faster.

SWIFT Transfers

Available for sending money to dozens of countries. Fees and processing times depend on the destination country. Before transferring, consider Central Bank of Russia regulations on international transfers.

Conclusion: T-Bank provides flexible conditions and instant transfers within the CIS, making it one of the best options for cross-border payments.

Kazakhstan: International Transfers via Kaspi Bank

Kaspi Bank offers convenient international transfers through its Kaspi.kz app.

Transfers to Visa, MasterCard, and Elkart Cards

Allows sending money to foreign bank cards, except for those issued in Russia.

• Fees: 0.95% of the transfer amount (min. 200 KZT).
• Limits: No restrictions.
• Supported currencies: USD, EUR, GBP, KGS.
• Speed: From 5 minutes to 3 business days.

Users can save frequent transfers, making the process even more convenient.

Conclusion: Kaspi Bank offers flexible transfers with low fees and multi-currency support, making it a great option for international transactions.

Expert Opinion

Kazakhstan-based financial analyst Yerzhan Akhmetov comments:

"In 2025, international transfers are becoming more convenient, but banks increasingly impose limits and fees. If you need an instant transfer, the best option is Visa Direct by Octobank or phone number transfers via T-Bank. For large amounts, SWIFT remains the most reliable method, but it loses in speed. In Kazakhstan, Kaspi Bank is beneficial due to its low fees and multi-currency support. Customers should consider not only the fee size but also the processing speed, limits, and potential currency conversion fees."

Key Takeaways

• Octobank (Uzbekistan) is cost-effective for fast Visa Direct transfers, but SWIFT transactions can be expensive.

 

• T-Bank (Russia) provides flexible conditions and instant CIS transfers, but transfers outside the CIS depend on Central Bank restrictions.
  
   
• Kaspi Bank (Kazakhstan) offers low fees (0.95%) and multi-currency support, but excludes transfers to Russia.

Choosing the right transfer method depends on your priorities: speed, fees, limits, and currency options.

For more information please visit https://octobank.uz/ or contact Octabank:

Phone number:  +998 71 202 33 33    

Email: info@octobank.uz  

Media Contact

Organization: Octobank.

Contact Person: Aktabank

Website: https://octobank.uz/

Email: Send Email

Address:Furqat ko'chasi 2, 100021, Toshkent, Toshkent

Country:Uzbekistan

Release id:24934