Currency control means control on the part of the Bank over the observance by residents and non-residents of the acts of the RF currency legislation and the regulations issued by the currency regulation authorities in the performance of currency operations and conducting foreign economic activity.
The following operations are subject to currency control:
- for resident customers:
- wire transfers and receipts in foreign currency (except for the transactions of currency purchase / sale and operations under contracts with Banca Intesa);
- wire transfers in RF currency to / from non-residents;
- for non-resident customers:
- wire transfers in RF currency
In acting as a currency control agent, Banca Intesa provides the following services to its customers:
- consulting on currency legislation;
- rendering assistance in drawing up and the execution of transaction passports and other currency control documents;
- exercising currency control in the performance of currency operations in foreign currency and in RF currency;
- consulting on procedures for the performance of and accounting for currency operations with the use of various forms of settlement: letters of credit, collection, bank transfers.
Principal issues requiring control while executing foreign economic activity:
- the execution of a transaction passport;
- performance of operations subject to currency control within the framework of the transaction passport, and also operations under non-passported transactions;
- the list of the documents to be submitted to the Bank to perform currency control operations;
- the time limits set for submitting the documents to perform operations subject to currency control;
- notifying the Bank of changes in the terms of the contracts concluded within the framework of foreign economic activity.
Additional information on currency control:
- Examples of completing a transaction passport and the procedure for the execution thereof;
- External regulatory documents;
- The list of documents to be submitted for the performance of currency operations within the framework of the executed transaction passports (depending on the nature of the operations to be performed);
- The time limits for submitting to the Bank supporting documents in relation to operations subject to currency control;
- Penal sanctions for violation of RF currency legislation and the regulations issued by the currency regulation authorities.