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INTEREXPRESS history

The intense development of the money transfer market in Russia has begun since mid-90's. At present over 10 money transfer companies are competing with each other in the money transfer market. Russian money transfer systems, for example,INTEREXPRESS have a significant market share. Our software is not inferior to the software of world-leading companies and has a number of advantages in certain respects.The delivery period and procedure of money transfers in Russian and foreign systems are the same, but commission fees for money transfers offered by Russian systems are much lower.

Due to active migration exchange between Russia, CIS and Baltic countries the remittance service is very demanded and has become increasingly popular.

During last years the demand for remittance services has steadily grown.

Last year the volume of the money transfer market increased by more than 50% compared with the previous year. CIS countries receive the largest share of remittances.

Compared with most money transfer systems InterExpress has a competitive combination of such advantages as processibility, low tariffs, instant and high quality service. Western money transfer companies are primarily engaged in providing tourist and business transfers. The tariff policy of INTEREXPRESSmakes remittance services available for all groups of population. Taking into account that the largest amount of remittances is initiated by migrant workers, low- and middle-income people,INTEREXPRESS has a significant advantage over expensive world-leading systems and provides reasonable grounds to believe that "INTEREXPRESS" services will be very much demanded by migrant workers.

For the time being INTEREXPRESS is a fast developing system which has extensive network of agent locations, low commission fees for money transfers and advanced software.INTEREXPRESSsoftware complies with international security standards and opens up for its partner banks opportunities not inferior to those of world-leading companies.

The history ofINTEREXPRESSsystem began in March of2003, when IT-specialists of SCB "Intercoopbank" created and tested the software. Since that time the active development of the system in the money transfer market has begun.

During last year and a half SCB "Intercoopbank" opened 12 own locations in Moscow providing INTEREXPRESS services ("Intercoopbank" is going to open also 4 new locations).Besides, our agents have a lot of locations, new partner banks regularly join "INTEREXPRESS" system.

Now INTEREXPRESS covers CIS countries: Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Ukraine and countries outside the CIS region - Vietnam and China