British money transfer service Revolut has ceased to transfer money to Russia and Belarus and from these countries.
Service users from Belarus and Russia began to receive messages about the impossibility to transfer money:
Earlier, Russian billionaire Nick Storonsky, co-founder of London-based financial app Revolut, published an anti-war letter.
“When I was growing up, the idea of war between Russia and Ukraine was unthinkable. Not only because war and the loss of innocent lives are always bad, but also because to me Ukrainians and Russians are related,” Storonsky wrote. “My father is Ukrainian. I have family and friends all over Ukraine – people who are very dear to me and about whom I am very concerned.”
He also said his company would give up to $2 million in donations to help the Ukrainian Red Cross within the next week. Many Revolut employees live in either Russia or Ukraine.
Revolut is a payment system that allows for various transactions: cash withdrawals settlements in different currencies with a plastic debit card. The peculiarity of Revolut is currency conversion at exchange rates, which are much more profitable than rates in currency exchange or money transfer systems.
Revolut has been operating in Belarus since the end of July 2021.
