Due to changes in the currency regulations of the Russian Federation, when transferring Russian rubles from August 2, 2004, when filling out the "Money Transfer Application" in Russian rubles, you must specify the "Code of the Type of Currency Operation" in Field 70 in the Payment Purpose section.
Please note that:
The code consists of seven characters. The first two (1,2) are alphabetic - VO (Latin alphabet) - used unchanged, the following (3...7) are numeric. *
For electronic clients only* - Spaces inside the brackets are not allowed!
Use the "List of Foreign Exchange Transactions by Authorized Bank Clients." Appendix 2 to the Instruction of the Bank of Russia dated June 17, 2004, No. 117-I "On the Procedure for Residents and Non-Residents to Submit Documents and Information to Authorized Banks When Conducting Foreign Exchange Transactions, Procedure for Accounting by Authorized Banks of Foreign Exchange Transactions and Registration of Foreign Exchange Deals."
Example: (VO13010) PAYMENT FOR TECHNICAL OILS CONTRACT M-325 FROM 040218 INV.332 FROM 040223
Transfers with incorrectly specified or unspecified code of the type of currency operation will not be accepted by Russian banks for processing and payment.
Therefore, we recommend that you:
Request these codes from your Russian counterparts,
Use the "List of Foreign Exchange Transactions by Authorized Bank Clients," Appendix 2 to the Instruction of the Bank of Russia dated June 17, 2004, No. 117-I "On the Procedure for Residents and Non-Residents to Submit Documents and Information to Authorized Banks When Conducting Foreign Exchange Transactions, Procedure for Accounting by Authorized Banks of Foreign Exchange Transactions and Registration of Foreign Exchange Deals."
The responsibility for the correct indication of the "Code of the Type of Currency Operation" lies with the client.