The international payment systems Visa and MasterCard terminated their cooperation with Timer Bank in connection with the inclusion in the Sanction List of the US Treasury of the main shareholder of the Russian Financial Corporation bank. This is stated in a message published on the website of Timer Bank.
"Visa and Mastercard announced the termination of cooperation with Timer Bank, which led to the lack of the possibility of servicing plastic cards issued by the bank, as well as to the temporary suspension of the ATM network. We ask all plastic card holders of Timer Bank to apply to the bank's offices for information on the status of accounts on your bank card, "the message says.
The bank was informed that as a result of the measures taken to restore the servicing of bank cards, the credit organization increased its status in the National Payment System Mir to a direct participant, "which will allow the possibility to provide customers with plastic card issuance and servicing services in the shortest possible time ".
"In the future, the cards will be provided with the maximum range of additional functions and services provided for the convenience of customers," the credit organization added.
Bank "Russian Financial Corporation" became a new investor in the Kazan Timer Bank in mid-December 2017.
In early April 2018, the bank "Russian Financial Corporation" was included in the US sanctions list.