‘I have two days until the food in my fridge runs out’: Thousands of Russian emigrants left scrambling after Serbia shuts down Alta Bank, freezing their savings
On October 30, Serbia’s Central Bank revoked the license of Alta, one of the few local banks where Russians could relatively easily open an account. Clients’ accounts were frozen. Many had kept money there from selling property in Russia, while others received their salaries through Alta accounts. Authorities promised to return up to 50,000 euros for lost deposits. What will happen to the rest of…
Thousands of Russian emigrants in Serbia found themselves in a dire financial situation after the closure of Alta Bank on October 30. The bank, one of the few accessible to Russians for account opening, had frozen clients' accounts, leaving many scrambling to find alternative sources of income as they only had two days left before their money ran out.
Anton, an unemployed IT specialist, had kept money from selling an apartment in his Alta account. His family moved to Serbia last year for work, and he joined them recently. He had transferred his savings from Kazakhstan to the account, which amounted to 70,000 euros.
Katya, who manages Meduza's crowdfunding, highlighted the fear among Russian Russians living abroad. She expressed concern about the potential consequences of donating to Meduza, fearing prosecution in Russia. Despite these risks, Meduza receives support from thousands of Russian readers living abroad, although even they are now facing uncertainty.
Dmitry, a private entrepreneur in the arts, used Alta to register his sole proprietorship. He had been in Serbia for a year and a half, seeking a temporary residence permit, and kept his money in the account for everyday needs. Like many others, he had to quickly withdraw his funds when the bank closed, seeking alternatives to ensure his family's well-being.
Written by urgent.news from Meduza (English)'s reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
