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Master Bank and its history

The financial institution is a Russian universal bank. The period of creation fell on 1992. According to the statistics of the magazine "Profile", the bank ranks in the top ten in terms of reliability among similar institutions of the Russian Federation. Master Bank has one of the largest ATM networks, which includes 2000 machines. Half of them are configured to accept Russian, American, Swiss currency and even banknotes of some states.

Activities of a financial institution

Commercial Bank offers a wide range of services for private and corporate clients in the following areas:

Lending.
Acquiring.
Salary projects of the Bank Master Bank.
Collection.
Deposits.
Bank cards.
Money transfers.
Procedures with AmericanExpress travelers checks.
Payment of TaxFree checks.
Jewelery operations.
Consider some popular offers in more detail. For example, Internet acquiring allows companies to increase turnover by attracting new target customers. 3D-Secure provides maximum protection during transactions. Thanks to innovative technology, customers can make payments without leaving the computer monitor. To make online payments, you must attach a plastic card of Master Bank to acquiring. There is a bonus program, as well as maximum protection during transactions.

Internet acquiring features include: Visa and MasterCard settlements, a processing center that processes about 3,500 transactions in 1 second and API application programming interface. Money is transferred to the current account no later than three business days from the date of payment. A loyalty program, information and marketing support for companies are provided. It is possible to bind a Master Bank card in order to determine the accuracy of transactions. The initial payment is made by entering the codes of a banking instrument such as CVC2 and 3D-Secure. You can activate the service at the bank branches if you have a full package of documents for signing a cooperation agreement. The Bank provides customers with setting up a test gateway, testing and acquiring.

Airlines and agencies can sell airline tickets through a virtual network. The bottom line is to use a long record on plastic cards. For its formation, companies need to transfer some information to the institute: the final data on tickets and TripLeg. It is possible to connect applications for mobile units to the Internet acquiring of Master Bank. Monitoring and control of executed transactions online, reporting and exporting are available in the account of the merchant.

Since the fall of 2011, it is possible to receive payments on TaxFree checks in two branches of the institute, which belong to the international organization GlobalBlue. To make payments, the client must visit the office of the institution, present an identity document, a passport and a check of the store, which is certified by the seal of the GlobalBlue Cheque customs service. The Institute makes payments, both in cash and to plastic card accounts. No fees are charged. When paying in cash in a foreign currency, the interest rate of the Master-Bank bank remuneration is 0.4% of the total amount of checks.

In the departments of the institution you can get professional advice on issues of interest, conduct operations related to the acquisition and sale of foreign money, cash settlement services, clarifications on legislative acts of Russia.

The bank issues plastic cards of international systems Visa and MasterCard. Previously, the institute was appointed an authorized agent who has the right to attract companies to use American Express, JCB and CUP cards. The financial institution provides information processing services for payment transactions to 260 institutions.

Master Bank credit cards can be issued online. These include Master-Mass, Master-Optium and Master-VIP cards, which are issued in three world currencies. Master Mass in “rubles” provides for loans up to 150 thousand rubles at an interest rate of 24%. The grace period is set within 51 days. Bonuses are not provided. Master Optium in "dollars" allows you to get a loan of up to $ 500. Master VIP in "Euro" sets the limit on the card at 5 thousand euros at a rate of 18%.

Revocation of a banking permit

Three years ago, an event occurred that surprised the financial sector of Russia. According to the order of the Central Bank of the Russian Federation of 2013, the license confirming the right to operate a commercial institution and Master Bank cards was revoked. Violation of federal laws that are designed to regulate banking activities, inaccurate reporting data and violation of certain requirements led to the Central Bank revoking its work permit.

Inaccurate reporting data has been identified by authorized banking supervisors. Risk assessment and reporting assets led to the loss of the institutes capital. Loans of poor quality were provided to the owners of the banking business. According to the law of the Russian Federation, Master Bank and other organizations must counteract the legalization of income that is obtained illegally, as well as timely identify the borrower of funds. Back in 2013, the organization occupied 41 doughs in the rating of credit companies in Russia. The volume of assets as of November of that year amounted to over 80 billion rubles. The Institute was part of the deposit insurance system. The financial institution has a large branch network, 115 branches and 2 operating cash desks.

In December 2013, the Central Bank of the Russian Federation filed a lawsuit in a Moscow court declaring the bank Master Bank bankrupt. 1/3 of the loan portfolio accounted for large loans. Reorganization of the bank is impossible for some reasons of the organization. Alfa Bank and Master Bank in 2013 entered into a bilateral agreement on the storage of the property of the latter. In the winter of 2014, the court granted the claim of the Central Bank of Russia. In the spring of 2015, the Russian Ministry of Internal Affairs established that the institution issued bad loans in an amount that exceeded 17 billion rubles. These actions caused the lack of assets of the institution in order to cover the claims of creditors.

Master Bank was one of the major players in online acquiring. The colossal volume of plastic card issuance was the primary domain of a financial institution. Information about bank bankruptcy shocked cardholders. At a well-known credit institution, negative capital of 2 billion rubles was revealed.

Card settlement services are planned to be transferred to Russian Capital Bank. After the termination of the institute, more than a hundred banking institutions encountered problems in servicing them. It was impossible to withdraw money through ATMs, as well as pay for goods and services of providers for some time.