Russian Banks Cut Ties with Foreign Payment Platforms

Russian banks are terminating cooperation with foreign payment platforms, leaving many poker players in the lurch. In 2018, changes to the Russian law "On Lotteries" prohibited cashouts in poker rooms, creating a "blacklist" of payment systems linked to gambling. This move significantly impacted poker players who relied on these platforms for cashouts.

In May 2019, Skrill and Neteller announced they would stop sending their cards to Russia. This decision came after the Russian government passed a law that required foreign payment systems to have a permanent representative office in the country and provide transaction information to law enforcement. Skrill, Neteller, and EcoPayz did not meet these requirements, leading to their eventual exit from the Russian market.

In March 2023, Skrill and Neteller annulled their cards in Russia. This move forced Russian poker players using these payment platforms to find alternative transfer methods, incurring additional fees. Local payment systems like Webmoney, Яндекс.Деньги, and Qiwi are available, but they come with high commissions for withdrawals and currency conversions. Another option for players is to use cryptocurrency exchanges, but this also comes with its own set of challenges and risks.