Russia’s INCREDBANK (Moscow) has suggested sending money transfers in roubles to any Russian localities and in US dollars, euros and roubles to Armenia via the LEADER system for only 0.95% of the transfer amount. Experts estimate the money transfer market oriented towards the CIS at $10 billion. Recently, a 3.0% commission was a common practice, while the growing competition has pushed it down to 1.0%; market participants anticipate a further reduction in money transfer charges.
Source: VREMYA NOVOSTEI, March 27, 2007
