Digital rubles have been introduced in Russia. They have advantages, but there is also a major downside

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Starting as early as next week, people in Russia will be able to pay with digital rubles. Who will accept them? How do you open an account? And why are they needed at all? The digital ruble is not non-cash money and not “crypto,” but simply a new form of Russian currency, to control…

Digital rubles have been introduced in Russia. They have advantages, but there is also a major downside: it is now even easier for the authorities to control citizens’ income and spending

As of September 1, any Russian can open a digital account at a bank in order to pay and make transfers in digital rubles. All of this is more выгодно than doing the same with cash or non-cash rubles. In addition, the authorities promise to add offline payments in digital rubles, without the need to connect to the internet. Sounds not bad, if not for one thing:

“The Central Bank will fully control the issuance and circulation of the digital ruble, which will make oversight of the spending and income of citizens and businesses easier. If banks monitored this in non-cash payments, then in the case of the digital ruble the authorities will shift oversight entirely onto themselves. In addition, the technology can be used to tighten repression: for example, it can be used to restrict transfers to ‘foreign agents’ or the spending of election candidates.”

If you want to minimize Russian authorities’ interference in your financial affairs, consider getting a card from a foreign bank. Our partner, the SkyCards service, helps Russians open personalized accounts at banks in friendly countries. They do everything quickly and remotely. All you need is your international passport or Russian passport, and also to tell the manager why you need the card so they can find an option that is profitable and comfortable for you.

And there are plenty of options! Need a card to pay for subscriptions and services? There is one for that. Want to travel abroad, rent cars, book hotels, and not think about cash or exchange offices? SkyCards’ most popular plan will suit you. If you need regular SWIFT transfers and full freedom while living abroad, go with a top-tier Georgian bank card. There is also a family plan for a group of relatives or friends. You can also choose an option with free servicing, access to business lounges, and interest on your balance. Working Apple and Google Pay, a banking app in Russian, topping up the card from an account at a Russian bank, and a favorable exchange rate directly in it are also available.

You can ask the SkyCards manager any questions here. If you are ready to leave an application for a card right away, go here. With the promo code МЕДУЗА, you will get a discount of 6,000 rubles or more!