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MOSCOW, February 2 (Itar-Tass) – Russia’s Sberbank on March 1, 2013 will cease all operations with traveler's checks American Express, the bank’s press service said.
The following operations with retail clients at the structural units of the bank will be stopped: sales of travelers checks American Express, purchase of traveler's checks, the issue of compensation for lost traveler’s checks, the issuance of traveler's checks in exchange for those received by inheritance.
The reason for the termination was not specified. All questions regarding operations with traveler's checks should be addressed to the company American Express.
The Sberbank of Russia is the largest bank in Russia, which accounts for about 27 percent of the assets of the Russian banking system. The Bank of Russia is its founder and main shareholder. Its share in the authorized capital of Sberbank is 50 percent plus one voting share.