What is the commission fee when selling currency. Commissions for transactions on the currency section of the Moscow Exchange

In recent days, the currency market has shown dizzying dynamics, and many have had the “run to the exchanger” reflex. For some, this is a way to protect their savings, for others, they stock up on dollars before going on vacation. Banki.ru will help you buy currency with maximum benefit for you.

The most obvious way to buy currency- actually go to an exchange office or a branch of a bank and buy dollars or euros there. On the Banki.ru portal that are offered by different credit organizations, and choose the most profitable one. To exchange an amount of 40 thousand rubles or more, you will need to go through the identification procedure by presenting your passport and filling out a form, the form of which is established by the Central Bank.

It is worth considering that during times of strong volatility, while you get to the selected branch, the rate may change. Some banks offer a course booking service. In this way, you can insure yourself against intraday exchange rate fluctuations and are guaranteed to receive the necessary currency in full.

Like all commercial organizations, banks are guided by the laws of supply and demand. When many people rush to buy currency, this becomes a reason to increase the spread (difference) between the buying and selling rates.

The second way is to purchase currency through online banking. To purchase currency through online banking, you will need to open a foreign currency account, then top it up and, if necessary, link a card. Before making a transfer, the bank will demonstrate the exchange rate. The whole operation will take a few minutes. You just need to click a few icons and enter the purchase amount. If you need money in cash, you can withdraw it either from your bank account or from your card at an ATM. First you need to see which ATMs dispense currency.

The third way is to use services that offer the service of buying currency online. This is something between the first and second methods. You make the actual purchase transaction online, paying with your card. The process is no different from shopping in online stores. After making an online purchase, money can be received at one of the branches of partner banks at any convenient time. You can buy currency in parts (when possible), and pick up cash in one trip to the bank. The money can be received within three years from the date of the transaction. And if you change your mind about receiving cash, the website has an option to cancel the transaction and return the money to the card.

Such services are convenient for those who are looking for a more favorable rate than that offered by their “home” bank, but are not ready to go to an exchanger with a certain amount of cash.

The fourth way is to buy on the exchange. If you plan to purchase foreign currency for a significant amount, it is worth understanding how to do this on the exchange. , rather than those that banks install in their branches. To gain direct access to the foreign exchange market, you will need to enter into a brokerage agreement with a broker authorized to provide such services. After concluding the agreement, the broker opens a brokerage account to which money will need to be transferred from the bank account. It is most convenient when both accounts are opened in the same bank. After this, having received a special application, you will be able to conduct trading operations in real time. The purchased currency will instantly be credited to your account, and all you have to do is transfer it to your bank account. For the services of a broker, you will have to pay a commission when making a purchase, as well as a commission for withdrawing money to a bank account. Some banks offer their premium clients the service of purchasing currency on the exchange. In this case, all operations will be carried out for you by the bank manager.

Conclusion:“Running to an exchange office” in the truest sense of the word is not the best way to purchase currency. This can be done in online banking in a matter of minutes, without wasting time moving around the city. You can use other banking services at the same time. For example, open a foreign currency deposit or order a foreign currency card with interest accrued on the account balance.

The topic of a profitable transaction for buying/selling dollars is relevant for most citizens of the country. So what is the correct way, and most importantly, where to carry out a foreign exchange transaction so that it turns out to be as profitable as possible? The article will try to reveal the answer to this question.

How and where to sell dollars profitably

Most citizens prefer to sell American currency through exchange offices. However, selling currency through exchangers is not always the best option. When selling dollars in small quantities, transaction costs are not so high. As for a large-scale transaction, losses on sale, for example 10 thousand USD, can amount to several thousand rubles.

Therefore, if you want to sell a large amount of American currency and do not need the urgency of the transaction, you should not immediately rush to the first exchange office you come across. Other possible options for implementing dollar savings should be explored:

1. Sale through a non-cash transaction. As a rule, banking institutions provide a higher exchange rate in such cases. True, the transaction will require much more time than exchanging cash. The client will need to deposit dollars into a bank account and then convert them into rubles.
2. Carrying out sales directly on the Moscow Currency Exchange (MICEX).

How to change rubles to dollars

The transaction of exchanging domestic currency for the dollar can be carried out in the same ways as its sale. For cash transactions:

• using the service of an exchange office;
• by contacting the cash desk of any banking institution that sells foreign currency.

For non-cash transactions:

• by converting between client accounts/card accounts;
• purchasing currency on the MICEX and then withdrawing it from a brokerage account and cashing it out.

How to buy dollars on the stock exchange

Since 2012, ordinary citizens have also received access to conduct transactions on the MICEX. The exchange does not work directly with individuals. Therefore, to make transactions you need to use the services of a broker. It is he who will provide the client with direct access to the currency section. Today there are quite a lot of companies providing such services.

The procedure for purchasing currency on the exchange:

1. Selecting a brokerage company and concluding an agreement.
2. Opening a trading account and transferring funds to it.
3. Determining how to buy a dollar.
4. Direct purchase.
5. Withdrawal of purchased dollar currency to a bank account.

The exchange rate for buying a dollar, in contrast to that offered by banks, is almost always more profitable. Its indicator approximately corresponds to that established by the Central Bank.

Which bank to exchange currency at?

Choosing an institution to carry out currency conversion is a purely personal matter for everyone. Naturally, the main criterion is the course offered by the financial institution. Finding out the current quote of base currency units is available to anyone with access to an Internet resource.

Fortunately, today there are many sites on the Internet that allow you to get acquainted with the current exchange rates. On their pages, users get acquainted in real time with the proposed exchange parameters in the context of specific financial organizations.

Plus, the capabilities of such resources allow the site visitor to select the nearest exchange office / bank branch. The service will display its address with a visual demonstration of its location on the map.

Withdrawing currency from a brokerage account

It is not possible to withdraw money directly from a brokerage account. To receive the purchased currency, you will have to withdraw it to a valid foreign currency bank account. Such an operation is usually subject to a commission. Each company's size is different.

If the broker and the bank where the account is opened operate under the same brand, the transfer of funds usually takes 2-3 hours. Also, if organizations are affiliated (connected), funds are transferred between brokerage and client accounts without commission.

How to trade currencies on the stock exchange

There are two ways to carry out trading operations on the stock exchange:

1. On one's own. To do this you will have to install a trading terminal. The service capabilities of the application allow the user to independently create the necessary application for the required operation. Plus, the program makes it possible to track the current position of quotes in real time.
2. Entrust the transaction to a broker. It is carried out, as a rule, over the telephone by submitting a corresponding voice request for the operation.

The minimum amount for converting funds is 1000 USD. For completed trading operations you need to pay a commission. Its average brokerage size is 0.013% of turnover. The exchange itself will charge a commission of 0.0015% of the transaction amount.

How many dollars can you exchange at a bank?

There are no legal restrictions on the amount of purchase and sale transactions in dollar currency. An individual has the right to make the desired exchange in any volume. However, one should take into account the fact that certain limits on such operations may be provided for by banking institutions themselves.

Depending on the current needs of a particular bank, its management has the right to make decisions on establishing a number of restrictions. Including in relation to the size of the maximum limit of the exchange transaction.

Rules for exchanging large amounts of dollars for rubles

Since December 2015, the Central Bank has tightened the rules for conducting foreign exchange transactions with the participation of individuals. The innovations affected transactions exceeding the equivalent of 15 thousand rubles. According to the rules, when exchanging, the client will be required to:

• present your passport;
• go through full identification – TIN, contact details, etc.;
• go through the survey procedure.

Forms of questionnaires for banking institutions are different. The total amount of information requested on the document also differs. The scope of questions directly depends on the amount of the desired transaction, as well as on the reliability of the client himself. The degree of this indicator is determined by the financial institution independently.

Standard procedure for exchanging dollars for rubles

Handing over foreign currency cash at an exchanger is the easiest and fastest way to sell it. You just need to find a point with the most democratic exchange rate. It’s worth mentioning right away that points located in shopping centers, hotels, airports, train stations, etc. are less profitable for carrying out such an operation.

The dollar purchase rate at such points is obviously several points lower than at the bank branch that owns this exchanger. Plus, there is a high chance of receiving counterfeit banknotes when carrying out a transaction.

A currency conversion transaction for an amount not exceeding the equivalent of 15 thousand rubles occurs in the standard mode. That is, the client simply chooses any exchange office/bank cash desk at his discretion and carries out the desired operation. You do not need to present any identifying document. There is also no questioning.

Against the backdrop of a recession (downturn) in the domestic economy, the question of the feasibility and profitability of exchanging ruble savings for dollars worries most citizens. It is no secret that the conversion of national currency into American currency is best done during a period of economic growth, when the foreign currency indicator becomes cheaper in comparison with the ruble.

Today, the ruble market is experiencing increased uncertainty, which often turns into market turbulence: sharp exchange rate fluctuations are associated with many factors. Unfortunately, the forecasts of most experts boil down to the opinion that in the near future we should expect a fall in the domestic currency.

From January 1, 2019, the rules for buying and selling currency have become somewhat more complicated. It is expected that the measures being introduced will allow for better control of cash flows and will reduce the volume of illegal money laundering.

If the transaction amount does not exceed 15,000 rubles, personal identification is not required. When the amount is higher than specified, the bank has the right to demand from the counterparty:

• Passport;
• TIN certificate;
• Contact information (phone, email);
• Information about the source of funds;
• Data characterizing the financial position of the counterparty and reviews of its business reputation.

The list of documents is determined by the bank. He may require additional information at his discretion. The advantage for the client is that the form will be filled out electronically and entered into the database by bank employees. The package of documents will need to be provided once. But it is possible that these measures will lead to an increase in the workload of bank employees, and the exchange procedure itself will take longer.

Tax 13% - introduced or not

The public's alarm was caused by media reports that the Ministry of Finance plans to introduce an income tax of 13% on any transactions with currency, even if we are talking about insignificant amounts.

However, on February 5, 2018, Deputy Head of the Ministry of Finance Ilya Trunin made a statement. He said that there are no plans to introduce a tax on such transactions, since it is impossible to determine the true income of a person when exchanging currency. People can exchange funds accumulated over a long period of time, and it is not always possible to determine the origin of this money.

Trunin emphasized that these rumors most likely arose as a result of a free interpretation of the Ministry of Finance’s innovations adopted in 2015. At that time, ownership of foreign currency began to be equated with property legal relations, which means that they were subject to the rules for calculating personal income tax.

It is emphasized that banks have the right to charge a commission on exchange and independently determine its size.

We acquire foreign money for different purposes - for traveling abroad, making purchases, saving or collecting. At the same time, we are united by the desire to quickly and profitably buy the required currency in the required amount. The new currency exchange rules adopted the day before agitated the public and led to controversial statements. What is the essence of a foreign exchange transaction, what is its standard scheme and what bank offers are the most tempting?*

Currency exchange: the essence of the operation

Banking services for transactions with cash foreign currency are especially popular among Russians. To protect ourselves from inflation and constantly rising prices, we convert rubles into foreign currency for the purpose of its further accumulation. Having received a salary, we pay utilities, leave it “for living”, and with free money we buy dollars. This is how we save for a vacation or a major purchase. Or vice versa, when we don’t have enough money to survive until payday, we go to the exchange office and hand over a few tens of dollars.

According to the law, banks have the right to engage in currency exchange. Moreover, out of 150 currencies in Russia, only dollars and euros are easy to buy. Not in every financial institution, but still you will find:

• Chinese Yuan;
• British pounds;
• Ukrainian hryvnia;
• Swiss francs.

It is extremely difficult to buy the currencies of other countries in the world. Some banks, for example Sberbank, offer to place an order for this, but the wait will take time.

In addition to the purchase and sale of currency, financial institutions provide other services for an additional fee:

• exchange of large and small foreign bills;
• purchase and replacement of damaged banknotes;
• checking banknotes for authenticity;
• accepting damaged, worn-out and out-of-circulation banknotes for collection.

The history of currency exchange dates back to 1944, when the generally recognized “Gold Standard” system was created at a conference in the United States. Its essence was to establish a specific value of a monetary unit in relation to a certain amount of gold. Since then, the International Monetary Fund began its work, whose functions included:

• analysis of the situation on the foreign exchange market;
• exchange rate control;
• providing loans to participating countries.

For financial settlements, a lot of working capital was required, so a large number of dollars were issued, absolutely not backed by gold. This situation led to an erosion of trust and constantly provoked financial crises.

To avoid contradictions, in 1976 the IMF abolished the currency peg to gold and introduced a free floating exchange rate, which is formed depending on supply and demand at the international trading session.

Currency exchange: various offers from banks

If you need to buy dollars or euros, look for a financial institution with a favorable exchange rate. Typically, banks add to the rate set by the Central Bank, from a few kopecks to a ruble. If you buy a significant amount, then even the difference is 10 kopecks. may result in an overpayment of thousands of rubles. It is not necessary to run around exchange offices and look for a favorable rate. All you have to do is go online and open one of the services that provides current course ratings. Information on such sites is updated daily, and the addresses of exchange offices and opening hours are indicated on the same page.

To calculate the cost of buying and selling various monetary units of the world, use an online calculator on the Internet. It will allow you to compare rates in different banks and save on this operation. When making calculations, keep in mind that the exchange rate and information about the availability of currency on the official website of any bank and in its additional points may differ. Please note that the rates for non-cash conversion transactions and cash sales of currency may not be the same.

When exchanging currency, you can use the services of the following financial institutions.

1. The leader in the volume of foreign exchange transactions is Sberbank. An extensive network of offices, the introduction of an electronic queue, and the Sberbank Online remote service make it possible to quickly and easily carry out transactions. The rates for selling and buying currencies are flexible - the higher the amount, the more favorable the conditions. Sberbank works with 15 types of foreign currencies, including rare ones. If the required amount is not available, the organization offers to order it.

2. BCS Bank offers the public to buy and sell euros and dollars on its website and provides home delivery. Courier service covers 46 Russian cities, including Moscow. You can use the service if you have a bank card from which the money for conversion will be debited. You can choose the method of receiving money yourself:

• in cash at the nearest branch of BCS Bank;
• to a bank card with delivery within 24 hours. At the same time, you will receive a free set of services, which includes Internet banking and the issuance of a multi-currency Visa card.

3. Alfa-Bank offers salary clients who wish to keep part of their income in foreign currency a non-cash conversion service. It will allow you to automatically convert part of your salary into dollars or euros at a preferential rate. You can find out the conversion rate by calling the bank or contacting the company’s accounting department. The service is activated free of charge - you just need to contact the Alfa-Consultant center by phone and provide the necessary information.

When traveling abroad, in order not to lose money on currency conversion, use a multicurrency card. If you often visit the eurozone, it is beneficial to open two accounts: in rubles and euros. If you frequently visit countries where the main currency is the dollar, it is useful to issue a card in rubles and US dollars.

Today, the exchange rate of various currencies is set depending on their purchasing power for a certain set of goods and services. The modern exchange rate has a floating rather than a fixed form. It is regulated both by the market mechanism and through forced changes in quotations based on agreements between states.

If there is a threat of an economic crisis, the government may require banks to artificially support the exchange rate within the country. At the same time, on trading exchanges, exchange operations are carried out depending on the supply and demand for a particular currency.

The official ruble exchange rate is calculated daily by the Central Bank. He does this according to a developed formula depending on the dollar exchange rate at the end of a single trading session. The exchange rates of other currencies against the ruble are established based on the results of their quotations against the dollar accepted on the international currency exchange.

Russian commercial banks approve rates based on data from the Central Bank, taking into account the balance of supply and demand. Since banks earn income from the difference between the selling and purchasing rates of foreign currency, it is not profitable to inflate its value. The rates offered by different financial institutions are approximately similar.

Thanks to the intensive development of technology and improvement of services, today it is possible to exchange currency in the following ways:

If you plan to travel abroad, it is not necessary to buy the required currency. It is enough to open a replenishable card account at the bank. By placing rubles on it, you can pay for purchases abroad in any currency or withdraw it through an ATM at the conversion rate. At the same time, pay attention that the transaction currency matches the one supported by your payment system:

• MasterCard – US dollars;
• Visa – euro.

New conditions for currency exchange in Russia

The Central Bank announced new currency exchange rules, which came into force on December 27, 2015. Now, when buying or selling over 15 thousand rubles. you must undergo full identification by providing your passport and filling out a form with information about yourself. The bank has the right to establish their list independently, and the client is usually required to:

The Central Bank informs that this form must be filled out by a bank employee; the client only needs to provide the necessary information. You may be asked additional questions regarding:

• purpose of the visit;
• origin of funds;
• career achievements;
• current financial situation.

The customer identification requirement is aimed at combating the financing of terrorism and the laundering of proceeds from criminal activities. Within the framework of this Law, banks have the right to request any information from you and refuse an exchange transaction in case of suspicion.

The new rules will not affect electronic exchange transactions in Internet banking and currency conversion in bank accounts. If you use these services, then you are already clients of a financial institution, and all the necessary information is in the system.

If you need to sell or buy foreign currency in cash for an amount less than 15 thousand rubles, it is enough to provide a passport - no identification is required. According to experts, the increased workload on employees will lead to the closure of exchange offices and an increase in non-cash transactions for the purchase and sale of foreign money.