In the second quarter of 2024, individuals made nearly 2.3 billion transfers worth ₽13.4 trillion via the Faster Payments System (SBP). Compared to the first quarter of 2024, the number of transfers increased by 27%, and their total value rose by 47%.
One reason for this growth may be that since May 1, 2024, individuals have been allowed to transfer up to ₽30 million per month between their accounts with different banks free of charge, a service many prefer to use via the SBP.
More details about the performance of the SBP in Q2 2024 are available in the Bank of Russia’s analytical material "SBP: Key Indicators."
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