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RBK Money Brokers 2021 - Which Brokers Accept RBK Money?
RBK Money is a payment acceptance service provider with over eight million users. It offers a selection of online and in-person transaction methods, a user-friendly checkout experience, and an advertised payment success rate of 97% alongside anti-fraud monitoring. Our review will examine the main aspects of the RBK.money service for traders, including its open-source API, payment method and currency options, and gateway security.
RBK Money Details
The RBK Money brand was founded in Russia and incorporates the following companies: RBK Money Holdings Limited, RBK Money Limited, and Direct Payments Limited. The latter is regulated by the Financial Conduct Authority (FCA) in the UK as an Authorised Payment Institution, and RBK Money is also partnered with a firm licensed by the Russian Central Bank.
The company provides several integration routes to active payment gateways into websites and also offers transaction links for businesses that are not online. The gateway has microservice architecture with an open-source API and blockchain platform. Full documentation is available for developers on the firm’s website, and RBK Money also maintains a public repository on Github.
Pros Of Trading With RBK Money
RBK Money uses card binding, which allows traders to checkout more rapidly by securely retaining card details for future transactions. The cards of the following payment systems are accepted by this provider:
- MasterCard and MasterCard Maestro
- Visa and Visa Electron
- American Express
- China UnionPay
- Diners Club
RBK Money provides its services to 30,000 businesses across 60 countries, so may be available with your preferred broker. Moreover, the firm provides its services to many high profile business clients such as Hermes, Sony, and TUI, which points to its reliability.
Cons Of Trading With RBK Money
Limited Transaction Routes
RBK.money offers a variety of bank cards for trading payments, alongside Apple, Samsung, and Google Pay. Although their website also advertises e-wallets, mobile commerce, online banking, cryptocurrency, and POS lending, these services are not yet available to traders. RBK Money also does not support PayPal. This relatively limited range of payment options may not provide the flexibility many traders require to transfer and receive funds.
The main settlement currency of RBK Money is rubles, as 60% of its client base is Russian companies, though euros and US dollars are also available. This restricted range of accepted tender may make this provider unsuitable for many traders that use other major currencies, such as pound sterling or Japanese yen.
Although the firm previously offered an RBK Money wallet, registration for this product ceased in October 2017 and support stopped completely in August 2018. Customers can still extract funds from their wallets by contacting email@example.com with a withdrawal request.
Several online reviews point to the high speed of RBK Money transactions. However, the processing of deposit and withdrawal payments is also contingent upon your broker and issuing bank. As such, the time to receive or place funds could be a number of days depending on the entities involved – clients can find processing times on broker websites or our reviews.
RBK Money safeguards client funds using an automated anti-fraud system and the Wallarm applications protection platform. Servers are monitored in real-time to detect and prevent attacks, and RBK.money’s systems comply with the PCI DSS 3.0 level 1 safety standard.
The firm uses secure sockets layer (SSL) encryption and a TLS protocol is followed for the transmission of data between the user and website. The 3D secure feature on payment cards is also supported by this provider.
RBK Money is a member of the BugBounty program, an initiative that rewards individuals for reporting website bugs and security vulnerabilities directly to the firm.
Deposits & Withdrawals
Traders can make deposits or request withdrawals via RBK Money if it is offered by heading to the payments page of their brokers’ website. Thereafter clients can select a payment method and make the transaction, subject to any deposit or withdrawal limits maintained by the brokerage. Traders should also be aware that some brokers have additional ID verification steps in place, especially for withdrawals, and should retain identifying documentation as necessary.
The rates that RBK Money charge to brokers and other business clients depends on turnover, and the payment methods that are requested. Brokers with larger turnover volumes are subject to lower rates, and companies yielding more than $30,000 monthly can expect to pay around 2% for the service.
It seems that there are no fees for traders, in that it is the broker/business owner that is charged for the payment service. However, brokers may still charge fees to their clients for deposits or withdrawals to cover these costs and potential traders should check this when deciding on a brokerage to sign up with.
Is RBK Money A Good Choice For Traders?
RBK Money provides payment services to clients across 60 countries, offering a card binding feature for traders and an open-source API alongside dedicated security systems to detect fraudulent transactions. Despite these benefits, some traders may be put off by the limited number of payment methods and currencies available, and by the absence of an integrated wallet.
Is RBK Money legitimate?
RBK Money is a legitimate payments provider and receives positive online reviews. It is also regulated by the Financial Conduct Authority (FCA) and by the Russian Central Bank.
What payment methods and currencies are accepted at RBK Money?
RBK Money offers a variety of bank cards for payment: Visa and Visa Electron, MasterCard and MasterCard Maestro, MIR, JCB, American Express, Diners Club, and China UnionPay – Apple, Samsung, and Google Pay are also accepted. The firm operates in rubles, euros, and US dollars.
Is RBK Money safe?
This firm uses a range of technologies to ensure the security of investments, including an automated anti-fraud system, the Wallarm applications protection platform, secure sockets layer (SSL) encryption, and a TLS protocol for data transmission. It also supports 3D secure for card payments and is a member of the BugBounty program.
What fees does RBK Money charge?
Traders are not subject to fees from this provider – the broker is charged for the service. However, some brokers charge traders processing fees for deposits and withdrawals independently of the payment provider.
Can I use the RBK Money e-wallet?
The RBK Money wallet is no longer supported. Clients who want to withdraw from their existing wallet should contact RBK.money support directly.