Sberbank launches instant transfers from Kazakhstan to China

Sberbank was the first in Kazakhstan to implement instant transfers to China through the SberBank Online mobile application. The bank successfully completed certification in UnionPay International and performed a money transfer to a UnionPay card in China.

The laws of the PRC establish the maximum transfer amount of 5,000 USD per day per card. To make a payment, you must specify the card number, name and surname of the recipient, and the city of residence. The eligible recipient is an individual resident of the PRC.

Sberbank Kazakhstan, a full member of the UnionPay International payment system since 2014, issues UnionPay cards and accepts them in the ATM and POS terminal network.

Timur Kozintsev, Senior Vice President, Head of Sberbank International Block

We continue to develop our payment hub in the Central Asian region. The launch of P2P transfers from Kazakhstan to China is another step on the way of strengthening ties between the neighboring and growing economies. Clients will be able to enjoy faster transactions, while the economy will get an impetus for the development of cross-border business.

Earlier, Sberbank also implemented an exclusive service of P2P transfers from Kazakhstan to Russia and back using a phone number, as well as a card number based payment service for money transfers to neighboring countries: Tajikistan, Uzbekistan and Kyrgyzstan. In 2020, the number of P2P transfers and payments grew by 200% and 48%, respectively. Over half a million international P2P transfers in total, with 83% of them to Russia, were made last year through Sberbank Kazakhstan.