Turkmen residents deprived of the opportunity to use foreign online shops

Starting from 25 March Vneshekonombank ceased transactions through the Internet using bank cards.

According to the announcement on the official website of the bank, the option to make online money transfers was temporarily ceased in connection with the modernization of the bank card system. The sources of Chronicles of Turkmenistan report that internet payments still cannot be made. This has negatively affected small business owners who order merchandise from online shops in China or the UAE.

Moreover, since the beginning of the year additional restrictions pertaining to cashing money overseas were introduced. Currently a maximum of $250 a day can be withdrawn and a bank fee of $3.5 applies.

At the same time, for the time being there are no restrictions as to a maximum amount of the purchase. Many residents who are now staying abroad are trying to take advantage of this opportunity.

We are receiving reports that many people make arrangements with vendors that the latter document a purchase. However, the customer immediately returns merchandise and gets a refund in cash. A vendor needs to pay 30 to 50 dollars per 1000 for this transaction.

Source: Chronicles of Turkmenistan