Remittance fintechs Zepz, TransferGo and Remitly have suspended their services to Russia amidst its invasion of Ukraine.
to be cut out of the system is still in the process of being drawn up by the European Union.
Whilst TransferGo and Remitly have yet to make an official statement at the time of publication, customers are currently met with an error message when attempting to transfer money to Russia.yesterday that it was no longer permitting transfers to Russia and Belarus. The $5 billion remittance fintech did not respond when The Block asked if the suspension was linked to the sanctions currently leveled at the country.
A Revolut spokesperson confirmed to The Block whilst remittances to and from Russia are yet to be suspended, it has put in place measures to comply with all sanctions issued by the EU and the UK against Russia. "We continue to monitor the situation closely and adjust our controls as the situation develops," they said."We will also continue to provide our customers with the ability to send money to Ukraine."
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