The Central Bank has ordered banks to explain the reasons for blockages and refusals.
On August 26, 2025, the Bank of Russia published Information Letter No. IN-01-59/98, which introduced new requirements for the procedure for interaction between banks and their customers in cases of blocking accounts, cards and restricting access to remote banking services. Until now, customers have often encountered a situation where the bank has restricted transactions, but has not provided the exact reasons for such a decision. This created legal uncertainty, complicated the protection of the interests of bona fide clients, and effectively made it impossible for them to promptly lift restrictions. Now the Central Bank is ordering banks to ensure full transparency. What responsibilities are assigned to banks: ● Specify the specific reason for the decision. The client should know exactly what circumstances became the basis for the blocking. ● Refer…