RUS CB Financial Services Accessibility


On Jun. 5, RUS CB issued guide on financial services in rural areas.


  • RUS CB issued guide on how to make financial services accessible to rural residents.
  • Key Points
  • In towns with over 3,000 residents, RUS CB advises maintaining branches, installing ATMs, and offering banking services at post offices and in smaller villages, banks should use mobile offices, install ATMs, and enable cash withdrawals at store checkout.
  • In addition, banks should consider the income and needs of rural residents, informing them about available services and associated costs and major banks are expected to maintain rural presence with combined remote and in-person services and costs.
  • It was clarified by RUS CB that banks are expected to maintain rural presence with combined remote and in-person services, with other banks encouraged to join.
  • Also, banks should ensure accessibility for the elderly and people with disabilities.

Regulators RUS CB
Entity Types Bank; CNSM
Reference PR, Gd, 6/5/2024; Lt IN-03-59/34, 6/3/2024;
Functions Compliance; Financial; Legal; Operations; Reporting; Risk; Treasury
Countries Russia
Category Central Bank
State
Products Banking; Deposits; Payments
Regions EMEA
Rule Type Guidance
Rule Date 6/5/2024
Effective Date 6/5/2024
Rule Id 214921
Linked to N/A
Reg. Last Update 6/5/2024
Report Section International

Last substantive update on 06/10/2024