Punjab National Bank (PNB) has issued an important reminder for customers using MasterCard services for international transactions. The public sector lender has reiterated that its MasterCard network activity related to Russia remains suspended in line with international sanctions and restrictions imposed by the global card network.
According to information available on the bank's website, customers should be aware that MasterCard services involving sanctioned customers and Russian entities remain prohibited. The restrictions apply regardless of where the customer is located.
What has PNB said about its MasterCard network activity linked to Russia?
PNB stated, “All network activity for Russia remains suspended. All MasterCard activity, including financial transactions and services, continues to be prohibited with sanctioned customers wherever these customers are located.
“Blocks remain implemented across MasterCard for authorisation, clearing, and other core systems for all sanctioned customers, wherever they are located, in addition to all Russian customers,” added further.
According to international media reports, Russia is aiming for the complete removal of Mastercard and Visa from the domestic market.
Which PNB transactions have been affected?
Financial transactions through the MasterCard network involving sanctioned customers are prohibited.
Clearing and settlement activities involving affected customers are also restricted.
The restrictions apply to all sanctioned customers worldwide in addition to customers in Russia.
