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Sberbank, Tinkoff Bank offer money transfers using phone numbers

Published 16 July 2018

Sberbank and Tinkoff Bank have launched a joint transfer service that uses mobile phone numbers. 

The service allows owners of the banks’ cards to transfer money from card to card immediately using their mobile apps and knowing a phone number. From today the service will appear in the Android and iOS apps of Moscow-based clients, and, by the end of July the function will be available for all clients in Russia.

To transfer money from a Sberbank card to a Tinkoff Bank card using a phone number, the Sberbank client should open the Sberbank Online app, tap To Other Bank’s Card, then Transfer Using Phone Number, and finally choose the receiver in contacts or input their number. If necessary, the client can leave a comment for the receiver.

Sberbank payment and transfers division director Igor Mamontov said “Sberbank’s instant transfers have become a real trend in recent years. They are easier, faster and safer than cash transfers. When developing our services, we try to do everything to make people’s lives easier.

“Today we have reached a new level of money transfer development. The new service will allow clients of the two banks to transfer money to each other using phone numbers as they can do inside Sberbank’s system.”

Source: Company Press Release