A Yandex.Money account can now be linked with an Alfa-Bank account. The joint program of Alfa-Bank and Yandex.Money is called "Money: From A to Ya".
Yandex.Money users with an account at Alfa-Bank can now instantly transfer funds from their account to the Yandex.Money e-wallet and back. Neither user’s personal information, nor account details are transmitted over the internet.
Moving funds from Alfa-Bank account to Yandex.Money account is free of charge; the fee for transferring e-money to a bank account, at 2%, is the lowest in the Yandex.Money system. The funds transferred to Alfa-Bank account may be used for offline payments, credit repayments, bank transfers, or for generating interest on the balance.
"Transferring real money into electronic currency and back has never been faster or easier. We believe that both users of Yandex.Money and the Alfa-Bank clients will benefit from integration of the two online services. Alfa-Click and Yandex.Money complement each other, providing their users with more opportunities," states Vladimir Urbansky, Head of Self-Service Channels Development at Alfa-Bank.
"A lot of people in Russia are still wary of using their credit cards online," says Jane Zavalishina, CEO of Yandex.Money. "Now, we are providing Alfa-Bank clients with a safe and secure way to shop online, and the Yandex.Money users get a convenient and cheap method to withdraw their funds".
As is the case in the internet, the new program works on a twenty-four-hour, seven-days-a-week basis. For account management Alfa-Bank is using the Alfa-Click online banking system.
Founded in 1990, Alfa-Bank is one of Russia’s largest banks in terms of assets and equity. As of September 30, 2008, Alfa-Bank served over 51,000 corporate clients and over 2.9 million retail customers. The bank has 338 branches and offices in Moscow, Russian regions and abroad, including subsidiary banks in Kazakhstan and the Netherlands and a financial subsidiary in the United States.
Yandex.Money is the largest electronic payment system in the ruble segment of the internet. The number of e-wallet owners in the system exceeds 3 million, with the daily number of transactions topping 50,000. More than 1,500 vendors use the Yandex.Money system.
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