UAE digital bank Wio has stopped accepting dirham transfers from individuals in the Russian Federation.
The official reason given is "the bank's internal policy." Experts believe that the decision is connected with the tightening of anti-Russian restrictions. Wio is afraid of falling under secondary Western sanctions.
Problems with this bank began to arise for Russians back in May, writes RBC . Everything continued in June, and in July Wio stopped accepting transfers altogether.
A similar decision was made regarding dollars and euros from Kazakhstan.
Exceptions are made only for clients who keep significant amounts of money in their accounts.
The bank itself does not provide clear comments and refers to the Central Bank of the UAE, explaining that the regulator resolves issues related to the receipt and sending of transfers.
There are few banks in the Emirates that are willing to open an account for Russian citizens. Even having an Emirates ID (similar to a residence permit) does not help. Accounts are opened only for Russians who permanently live or work in the UAE.
Therefore, the situation with Wio has become a significant problem for Russian citizens.
Author: Dmitry Bobrov
