ABSOLUT BANK (Moscow) has teamed up with insurance companies ZENIT and STANDARD RESERVE on an Express Payment project. As part of the project, payments under OSAGO (obligatory motor third party liability) and KASKO (motor own damage) insurance may be deposited on Visa Electron cards of insurers’ clients. The card is issued in an office of the insurance company upon presentation of passport. A client may withdraw cash from card account at any of 500 ATMs of the bank’s partner network across Russia or pay for commodities and services with the card within the valid term. A commission for cash withdrawal in the ABSOLUT BANK network is not charged. In the near future, the bank plans to expand the network of partners within the framework of that project, including in regions such as St. Petersburg, Ufa and Omsk.
Source: BANKI.RU, August 8, 2007
