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- In addition to rubles, Yandex Money multi-currency covers: US dollars, euros, British pounds, Japanese yen, Chinese yuan, Swiss francs, Czech korunas, Polish zloty, Belarusian rubles, and Kazakhstani tenges.
www.electronicpaymentsinternational.com/news/yandex-money-multicurrency/Yandex Money multi-currency goes live covering 10 currencies
People also ask
What currencies can you trade with Yandex Money?
What is Yandex Money?
Does Yandex Money accept foreigners?
Is Yandex Money safe?
How do I make a deposit or withdrawal on Yandex?
In which countries is Yandex Money available?
- About Yandex Money
- Pros of Trading with Yandex Money
- Cons of Trading with Yandex Money
- Speed
- Security
- How to Deposit Using Yandex Money
- Fees
- Is Yandex Money Good For Day Trading?
- FAQ
Yandex Money, also known as YooMoney, is Russia’s most popular online payment service, with a market share of 37.6%. The company was founded in 2002 and was originally under the joint ownership of Russia’s largest bank, Sberbank, and the country’s leading search engine, Yandex. The platform is favored by individuals as well as merchants, offering p...
Established
Yandex Money is used by millions of customers and works with big brands including Nintendo, Xbox, Steam, Apple, Uzcard, Revolut and Western Union. The service also competes with other well-known e-payment methods including WebMoney, Qiwi Wallet and WeChat Pay.
Plastic & Virtual Cards
In 2015, Yandex Money received Mastercard principal member status and by 2022, it had issued more than 2 million plastic cards and 19 million virtual Mastercards. Traders have the flexibility of using a Yandex Money card, or one of their own that has been previously stored in the e-wallet.
Mobile Trading
The mobile app is particularly useful for traders who want to keep track of their deposits whilst on the go. You can download it from the App Store for iOS devices and from Google Play for Android (APK) devices. Prepaid or virtual card options can also be loaded onto Apple Pay or Google Pay.
Registration Process
You need to register with Yandex Money and verify your identity using a passport ID. Traders should also bear in mind that if they are registering from outside Russia, the identification process takes at least 7 working days once you have translated, notarized and mailed a copy of your passport to Russia.
E-wallet Status Structure
Once you have registered for an account, you will automatically be assigned Anonymous status. This only allows users to make payments up to 15,000 RUB (225 GBP) and no withdrawals are allowed, which may be unsuitable for experienced traders. If so, a separate registration and identification process is required to move up to one of the other two statuses – Reviewed or Identified. With that said, the Reviewed status is only available to Russian citizens and passport holders. The Identified stat...
Limited Supported Countries
Yandex Money supports CIS states by default, including Armenia, Belarus, Georgia, Latvia, Moldova, and Ukraine. However, some merchants can request to accept customers using a foreign card, including the UK, France, Bulgaria, Malaysia, Philippines, Turkey, India, Nigeria, Mexico, and Israel. You will need to check with your broker if a Yandex Money API is supported in your jurisdiction. Note, that foreigners in the USA and Canada cannot use the payment provider.
Yandex Money payments are immediate but processing times may vary at your broker. Deposits at ArgusFX, for example, will take 1 hour to appear in your trading account. BCS Forex, on the other hand, offers instant deposits and withdrawals. Withdrawals typically take up to five working days.
Traders should feel safe when depositing their money using this service. Yandex Money uses the HTTPS protocol, which encrypts payment details and is also inspected annually according to Visa and Mastercard security standards. Yandex accounts also allow two-factor authentication (2FA), meaning users can add two forms of digital verification at the l...
Once you have opened a Yandex account, making a deposit or withdrawal within your trading platform is easy. After you have selected Yandex in your client area, you will be redirected to the online portal where you can select your method of payment (from a linked card, for example) and then confirm the transaction with your password. Note that fundi...
It is free to sign up for an account and open a wallet with Yandex Money. Virtual cards are also free of charge but there may be some card fees for cash withdrawals or transfers. Transaction fees are usually priced at 15 RUB (0.23 GBP) plus 3% of the transaction value and withdrawals at 3%. Some brokers may also charge their own service fees to use...
Yandex Money is ideal for traders looking for a convenient e-wallet solution when making deposits online. Clients can choose a Yandex virtual card or simply load their own credit or debit cards into the wallet, providing ultimate flexibility. Traders also enjoy instant deposits and no commissions at some brokers. However, there is a lengthy registr...
What Is Yandex Money?
Yandex Money is a popular Russian online payment service and e-wallet, which also issues plastic and virtual cards. The service is available through the website or mobile app. Several top trading brokersalso accept Yandex deposits and withdrawals.
How Do I Use Yandex Money In My Trading Account?
To deposit or withdraw into and from your trading account, select Yandex Money in the funding section and follow the on-screen guide to log in to your wallet. Choose where to withdraw money, either from the wallet or a linked card. A password may be required to complete the transaction.
How Does Yandex Money Work With My Broker?
Yandex Money allows you to store payment cards in an online wallet or top up your account using a bank transfer. This means that payment options are centralized in one convenient place when making purchases online, eliminating the need to fill out a payment form or enter billing address details each time.
As a result, traders can open a free Yandex Money account in 10+ global currencies including Euro (EUR), US Dollar (USD) and Great British Pound (GBP), reducing exchange rate fees. Fiat to digital currency payments, including Bitcoin (BTC), are also possible
- Yandex Money is a safe and secure payment solution. It uses industry-standard encryption and offers two-factor authentication (2FA). All transactio...
- Customers must top up their Yandex Money account before it can be used to deposit trading funds. Payment methods vary by country of residency but i...
- Login to your Yandex account with your registered email address and password. Your 14 digit wallet number can then be found within the ‘Yandex Mone...
- Yandex Money is an electronic payment solution similar to alternatives such as PayPal, Revolut and WebMoney. It is an integrated transfer process u...
- Yandex Money does have some country restrictions. Fortunately, many swing trading brokers accept foreigners with a Yandex Money card, including tho...
Yandex.Money is the largest and most popular electronic payment service and e-wallet in Russia as of 2016. The service was originally set up as a joint venture between Yandex and Sberbank.
Jul 25, 2024 · Key Takeaways. It's possible to make money trading money when the prices of foreign currencies rise and fall. Currencies are traded in pairs. Trading currency can be very profitable...
All transactions sent in a currency that differs from the currency of your trading account will be automatically converted using the FXTM conversion rate. Yandex.Money will charge a fee for each transaction, but FXTM will reimburse any deposit fees you incur directly to your trading account.
Apr 2, 2024 · Regarding international transactions, Yandex Money asserts that it allows transactions in different currencies, including Euros and U.S. Dollars. However, the exchange rate may not be as favourable as that in established UK financial institutions.
