Let's say I started UnionPay in a Russian bank, and now I can pay it where they accept it, but can I accept non-money?

Question

Payment systems

subject

I.e. like this:

1. I have an account in a Russian bank

2. UnionPay is attached to it

In theory, this will help me pay for hosting somewhere in China, for example :)

But will it help me IN RECEIVING payments from abroad?

Say, from the USA?

I just have not delved into these banking things until now - there was no need. But, apparently, Russian programmers will now also learn how to understand international banking transactions :D

Guys, surely one of you wrote apishki for this case)) and understands how everything works there.

How can a client from the USA now send money to the Russian Federation, and will my UnionPay help in this?

And if, for example, the client is so loyal that he will also start UnionPay as a specialist for me BUT IN AMERICAN BANK - will this help?

In theory, if he opens an account in a Chinese bank, even while in the US, he will be able to send money to my Russian account, to which UnionPay is linked, right?

Thank you.

Answer 1

1) For small transfers - PaySend, works with small amounts and on the MIR card. But the fees are relatively high.
2) For normal amounts - transfers to a bank where SWIFT is still working. for Swift, the commission is around $30.

Answer 2

In theory, if he opens an account in a Chinese bank, even while in the US, he will be able to send money to my Russian account, to which UnionPay is linked, right?

Well, in theory, yes, if the bank is not sanctioned. Or sub-sanctioned, but connected to the Chinese swift. Or if a Chinese bank is connected to a Russian swift. This may not be the case yet, but it may soon be.

Answer 3

Today I came across an article. They write that there are nuances. For example, European banks will not accept money from a sanctioned bank, even if the payment is through UnionPay.

Answer 4

No.
1. UnionPay online payment works 99% of the time only for Chinese cards (Mainland, Hong Kong and Macau issuers).
2. MoneyExpress (transfer to a card) only accepts Chinese cards (there is one exception bank, but this is a separate issue).

Answer 5

There is no problem for an American company to send you money to Russia via SWIFT transfer. Everything is going great if the banks are not sanctioned. Another thing is that an American company may simply be afraid to do this (what if?), but such cases are generally still rare. So open an account in some Raiffeisen and get a sfift. So it’s easier (for a decent customer) than to fence a garden with services for transferring money from card to card.