Russia has begun suspending services for Visa foreign currency and multicurrency cards
Sberbank, Russia’s largest bank, has notified its customers that it will discontinue support for foreign currency and multicurrency cards issued by the international payment system Visa, effective September 1, 2026.
The bank recommended that holders of such cards—whose validity had previously been extended until 2030—close them in advance via the “Sberbank Online” app or at a branch and transfer the remaining funds to other accounts.
Sberbank explained that the changes will apply only to inactive foreign currency cards with a zero balance that customers have not used for a long time, as well as multicurrency cards whose functionality is no longer supported. At the same time, the bank assured customers that their funds remain accessible and that the servicing of foreign currency accounts and multi-currency accounts will not change.
Earlier, the Central Bank of Russia proposed gradually phasing out cards from the international payment systems Visa and Mastercard. To this end, the National Payment Card System proposed reducing the interbank commission on transactions with such cards to 1% starting in 2027, and to zero starting in 2028.
According to data from the National Payment Card System of the Russian Federation, by the end of the first quarter of 2026, the share of “Mir” cards in the country’s total card transactions exceeded 75%. At the same time, as of the end of May, Visa and Mastercard cards still accounted for about 17% of bank cards in circulation.
After Visa and Mastercard withdrew from the Russian market in 2022, Russian authorities extended the validity of previously issued cards due to concerns about a chip shortage amid sanctions. However, the Central Bank of Russia later advocated for the gradual phasing out of these cards, noting that they no longer serve the purposes for which they were created, particularly due to the suspension of international operations and the expiration of security certificates.
Source: The Moscow Times.
As a reminder, Russia has once again announced the possible complete shutdown of Visa and Mastercard international payment systems, explaining that they no longer serve their intended purpose in the domestic market. The Central Bank of the Russian Federation says that such cards have effectively lost their purpose and are expected to gradually disappear from circulation, although the process may be phased.
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