Central Bank Condemns Banks Refusing Cash Payments

The Central Bank of the Russian Federation noted cases of banks refusing to accept cash from citizens.

Consensus

Banks are refusing to accept cash payments from individuals.
The Central Bank of Russia has noted and criticized this practice.
The refusal is based on the claim that accepting cash is a right, not an obligation, for banks.
The Central Bank asserts that accepting cash is legally required under Article 140 of the Civil Code of the Russian Federation.
The Central Bank has called on banks to cease this practice.

Banks refuse cash to avoid requesting documentation and potential conflicts, especially when funds may not be officially reported, though this does not imply criminal origin. — vm
Banks may refuse cash to avoid scrutiny related to individuals claiming low income for budget support. — vm
The only lawful and justified reason for refusing cash is the absence of a cash handling unit in the branch. — vesti
The Central Bank explicitly stated that the argument that cash acceptance is a right, not a duty, is fundamentally incorrect. — interfax
The Central Bank reported that Russians opened around 200,000 digital ruble wallets in three weeks, far exceeding earlier expectations. — m24