What are the requirements for making a payment in Russian Rubles?

Payments in Russian Rubles to any recipient bank are completed as international payments, using Citadele’s Russian Ruble correspondent bank. Payments in Russian Rubles must be made in accordance with the requirements of the Central Bank of the Russian Federation as follows:

  • All information must be entered in the Latvin alphabet in accordance with this transliteration table.
  • Recipient information: the recipient’s full name must be entered. For physical persons, this is their surname, first name and patronymic. For legal persons (businesses), the abbreviation of the business form must be included: OOO, OAO, ZAO etc. Individuals (business owners) must use the abbreviation IP.
    For recipients who are legal persons, the payment must show the recipient’s 10-digit INN code (tax payment identification code). For individual business owners, the INN code will consist of 12 digits.

The recipient’s 9-digit KPP code must also be entered, if known. The KPP code must be entered for budgetary payments. KPP codes are issued to Russian Federation taxpayers and will be indicated in the invoice received from business partners in the Russian Federation.

  • Recipient address and town.
  • Recipient account number: the 20-character recipient Russian Ruble account number. Russian Ruble account numbers start with 40, and the sixth and seventh digits are 81.
  • Recipient bank: enter the recipient bank’s BIK code (9 characters).
  • Payment details: the payment details must start with a VO code - a currency operation type code. The VO code consists of the Latin letters VO and the 5-digit operation classification: VOXXXXX. When using a VO code, residency status is always from the Russian point of view. If a Latvian resident makes a payment to a Russian business or resident, then, in Russia, the payer is a non-resident, while the recipient is a resident. Therefore, when selecting a VO code, the code “Non-resident payment to a resident” must be selected.

The payment must then include a clear, precise payment purpose: invoice or contract number and date, NDS (VAT) amount. If a service or product is non-taxable, the payment purpose must be “NO NDS”.

When entering information in “Payment details”, bear in mind that the total number of symbols allowed is 140. When calculating the number of symbols, bear in mind that each group of consecutive Latin symbols is placed within quotation marks, which increases the total number of symbols. For example,

VO70030 KBK39220106040066000180 OKTMO45384000 VYPLATA PENSII 2018 SOGLASNO DOG.OT 18122007 KPP770601001 BEZ NDS S06 (Total symbols: 116)

When making a budgetary payment in Russian Rubles to Russia, several additional conditions apply.

Have more questions?

Call 6701 0000 or write to info@citadele.lv