Modern technologies allow money to be sent anywhere in the world in virtually a matter of minutes. There are times when it is necessary to send cash as quickly and safely as possible to another city. 'K' decided to find out what cash transfer methods exist in Kazakhstan without opening a bank account.
Today, there are many players in the express money transfer market, and the number of services continues to grow. Firstly, when there is an urgent need to transfer cash, the well-advertised international transfer systems come to mind. However, major second-tier Kazakhstani banks also offer money transfer services within Kazakhstan and abroad, using their extensive branch network. Transferring money through domestic banks often turns out to be even cheaper than through foreign companies.
What should you pay attention to when choosing a cash transfer service? Of course, the most important aspect is the reliability of the transfer. Second-tier banks are regulated by the state and relevant legislation, which guarantees maximum service security. Secondly, you should find out the cost of the service, i.e., the transfer service commission. It may be proportional – a percentage of the transfer amount, or fixed. It is also important to consider the service geography, delivery speed, currency, and the possibility of a quick refund if needed.
'K' reviewed the offers of domestic BVBs for cash transfer without opening an account. The banks are listed below in order of increasing commission size for the service.
The most advantageous place to transfer money within Kazakhstan is in Nurbank. Cash transfers from one point in the Republic of Kazakhstan to any other region without opening an account 'NUR Express' are made within seconds. As in other financial institutions, to transfer money through Nurbank, the client only needs to have an identity document and know the recipient's details.
The transfer can be made in both national and foreign currencies (USD and EUR). The bank's commission for the service is only 0.5%, and no fee is charged for the payout. If necessary, Nurbank offers popular international payment systems such as SWIFT, Western Union, CONTACT, and the Russian 'Unistream' and 'Golden Crown'. It is worth noting that the number of the bank's branches has increased from 55 to 89 in the past five years. Today, the bank is present in all major cities of the country, including remote regions of Kazakhstan.
'In addition to advantageous transfer rates, we allow clients to make dual-currency transfers without commission via CONTACT, Golden Crown, and Unistream. The 0% commission applies to money transfers both within and from Kazakhstan to near/far abroad countries, provided that the sending currency differs from the payout currency. Dual-currency transfers can be sent in tenge, rubles, US dollars, and euros. The unique feature of such payments is that no commission is charged for sending/receiving money transfers from either the recipient or the sender. The transfer delivery time is in real-time,' said press secretary of AO 'Nurbank' Aigul Kasenova.
'We regularly conduct promotions for money transfers. For example, last month, within the framework of the money transfer promotion, we raffled an iPhone 8+. The winner was Yeszhanova Saule from Aktobe city. Currently, we are running the 'Package Offers' campaign for legal entities and individual entrepreneurs. Within the campaign, we offer clients five service packages with the possibility of choosing a discount size for various operations up to 40%,' added Aigul Kasenova.
'ATF Fast' - fast cash transfer to the recipient without opening an account at ATFBank. The bank's commission for the service is 0.8% of the transfer amount. The money will reach its destination within 15 minutes. Transfers can be made in tenge or USD. The maximum transfer amount is 7 million tenge, $20 thousand.
A 1% commission on the transfer amount is charged by two second-tier banks. Tsesnabank offers an express transfer system – 'Skorokhod', allowing clients to transfer money in tenge through the bank's system without opening an account. The transfer delivery time is up to 30 minutes. Similar conditions for fast money transfers are provided by VTB Bank (Kazakhstan). Here, cash in the national currency can be transferred within 5-10 minutes throughout the country. Up to 10 million tenge can be sent.
BCC Express by Bank CenterCredit allows instant transfer of up to 5 million tenge without opening an account. The transfer commission is 1.5% of the amount. The recipient can receive the transfer in any region, regardless of the city specified by the sender.
Standing slightly apart from other products is the Faster quick transfer system, available at Kazkommertsbank. The express transfer system allows sending cash within Kazakhstan through KKB branches and abroad, including the CIS, Asia, and Europe through partners - Intel Express and Golden Crown. The transfer commission within Kazakhstan is 2%, and in foreign currencies, it's fixed and depends on the country and transfer amount.
'Express Transfer' from Eurasian Bank is a system for cash transfers within Kazakhstan between individuals, both residents and non-residents of the Republic of Kazakhstan. Here, as in BCC, the client can receive money in a matter of minutes, regardless of which city the transfer was sent to. The sender pays a commission of 2% of the transfer amount.
The People's Bank also offers an express transfer system. The service is provided in Kazakhstan in national currency. Cash can be transferred within 5-15 minutes, with a transfer commission of 3%.
You can transfer money to Russia and Kazakhstan through the subsidiary of the largest Russian bank in Kazakhstan – Sberbank. The urgent 'Kolibri' transfer is made and paid in Russian rubles, US dollars, and euros. Within Kazakhstan, the transfer amount is unlimited; up to $10 thousand can be sent to Russia. The sender must pay a commission of 1%, and a 1% fee is also deducted at payout, with an additional 750 tenge refund charge for an unclaimed transfer.