Sber Bank allows clients to use Visa, Mastercard beyond expiration date

July 6, BPN. Russian-controlled Sber Bank has allowed clients whose Visa and Mastercard cards are due to expire between July 31 and December 31 to use them beyond that deadline, amid the bank’s curbed access to the world financial system.

“You can use them for another two years without requesting a reissue or coming to a bank office,” the Russian-owned bank said in a statement yesterday. “The extension will be free, and all current fees will remain unchanged.”

Sber Bank-issued Visa and Mastercard cards work for domestic transactions, but US sanctions have made international use impossible, meaning that their holders cannot pay for foreign online purchases or withdraw cash abroad.

The Belarusian central bank listed Sber Bank, in which Russia’s PAO Sberbank Rossii holds a 98.43-percent stake, among five systemically important financial institutions in Belarus.