Over the past few days the editorial office of “Chronicles of Turkmenistan” has received numerous messages from our readers from various countries who report that they have been unable to withdraw cash from their bank cards.
In mid December last year Vnesheconombank (The State Bankfor ForeignEconomic Relations) introduced new restrictions pertaining to cash withdrawals from banks cards overseas.
Pursuant to the new rules, Turkmen citizens can officially withdraw no more than $500 a month.
A maximum of $50 dollars in cash a day can be officially withdrawn from an account, or cash- free payments of no more than $200 a day can be made.
However, according to Turkmen residents staying overseas, since 1 January many of them have been unable to withdraw any cash whatsoever, even within the official restrictions.
The situation with bank cards is appalling. Since 1 January we have been unable to withdraw any money. The cash-free payments are also not working. Some can get 10 US dollars from an ATM whereas others fail to withdraw аny cash, — one of our readers reports.
Another reader reports that he failed to withdraw cash during his trip in Europe: During the entire trip across various European countries I could withdraw neither 30, 20 or even 10 Euros. A non-cash transaction in a store also failed. This was humiliating.
Outraged customers did not get any satisfactory explanation from Vnesheconombank.
One of the applicants was informed that now, prior to an overseas trip, a person must contact the Migration service to obtain a special permit which needs to be presented to the bank. After that a bank card will be unblocked.
Another reader reports that he was informed by the bank that cash can be withdrawn from the date when the last $50 (out of the permitted $500) were withdrawn in the previous month.
I.e.if the last $50 from the authorized monthly limit was spent on the 15th of the month, the card holder will have to wait until the 15th of the next month to withdraw a further amount.
Let us also recall that pursuant to official restrictions, a limit of $1000 a month was imposed for students. It was reported at the same time that the parents’ income statement is no longer required to make a money transfer.
However, a study-abroad student told our editorial board that in practice no concessions apply to them. “It is not true that the income certificate is no longer required.
No more than $500 rather than $1000 can be sent via Western Union, only via the bank card, and when a full set of documents and certificates are provided”.
The official website of Turkmenistan’s Vnesheconombank has posted no announcement regarding the recently-introduced rules.
You can contact our editorial office through a feedback form on the website, or by sending a message to hronikatm@gmail.com.