Russian Finance Ministry to limit cash ATM deposits

The Russian Ministry of Finance has developed a bill that sets a limit on cash deposits via ATMs. According to the initiative, the total of such operations must not exceed 1 million rubles per month (approx. $11,100 at current exchange rates).

The bill amends the federal law «On Banks and Banking Activities». The document was sent for approval to the Central Bank and Rosfinmonitoring in mid-January of this year, the Interfax news agency reports, citing an informed source.

The goal of the innovation, as stated in the explanatory note, is to counter the legalization of income of unknown origin. The absence of existing restrictions allows such funds to be channeled into non-cash circulation. This measure is in line with the government-approved plan for «whitening» the economy.

To help financial organizations adapt to the new rules, the Finance Ministry proposes to set a transition period. The law is to come into force 180 days after its official publication. Banks will be able to use this time to modernize their technical systems and business processes.

Russian President Vladimir Putin in early December 2025, at a meeting of the Council for Strategic Development and National Projects, called for increased control over cash circulation as part of the «whitening» of the Russian economy. He said it is necessary to eliminate illegal trade in goods in wholesale and retail markets, as well as in the digital space.