Faster Payments System SBP

The Faster Payments System (SBP) [Система быстрых платежей (СБП)] is a Bisq payment method for buying and selling Bitcoin (BTC) through Russian bank accounts in the Russian Rubles (RUB) currency using the phone number of the recipient.

SBP has become a common way for people in Russia send and receive payment to each other electronically.

SBP payments are usually instant, but in some cases can take up to 24 hours to post to the recipient's account, depending on the sender's or receiver's bank. The system itself is online 24/7/365 and accessed through the bank's Online Banking or mobile app.

Where can I find out more about SBP?

• The official page of the system.

What countries are available for the SBP?

SBP only operates in Russia between Russian bank accounts.

What currencies are available for the SBP?

SBP allows for P2P payments of:

• Russian Rubles (RUB)

What is the maximum trading duration for SBP?

The maximum trade time is 1 day. Generally Faster payments will be completed within 5 minutes or faster.

What is the maximum BTC limit for a SBP trade?

0,10 BTC

Is SBP a payment method that can be signed?

No, SBP accounts do not require signing to lift limits.

How do I set up the Faster Payments System (SBP) service?

SBP payment service is provided to consumers via financial institutions (mostly banks) which are members of the system provided by the Bank of Russia. Most retail banks offer it to their customers, and you should follow their procedure to enable it for your account. You can consult the webpage of the SBP system for the list of member institutions. The same phone number can be used to receive payments at multiple banks.

How do I add Faster Payments System (SBP) as a payment method in Bisq?

It is easy to add your SBP account into Bisq.

1. Go to the top menu in Bisq and select Account.
2. Then select National Currency Accounts.
3. Click add new account
4. Select "Faster Payments System (SBP)" or "Система быстрых платежей (СБП)" if using Russian.
5. Complete the account details
6. Choosing a custom account name will helps makes it easier for you to manage multiple payment methods in Bisq (this will be visible only to you, for example: SBP - Sberbank/Yuri Kouznezov)
7. Click save new account

Make sure all the details are correct when you add.

Make sure to include both your Name as shown by the bank when you send payment (e.g. Yuri Basilevich K. - note that the last name is by initial only), the linked phone number, and the selected bank. A separate SBP account is required in Bisq for each bank at which you may want to receive payment, and the default bank setting of SBP should not be specified or relied upon.

Faster Payments System (SBP) on Bisq is not integrated with any phone check services or banking lists, hence it's your sole responsibility to correctly indicate the phone number and the bank name unambigiously as well as to have an active account there with payments reception enabled.

How do I buy BTC with my SBP account?

You can buy BTC with SBP on Bisq in 2 waysː

1. Make an offer to buy BTC with SBP on the RUB market.
2. Take an offer to buy BTC with SBP on the RUB market.

When the offer is confirmed, Bisq will provide you with the BTC Seller's SBP account details for you to send the payment. You should send the payment immediately and confirm you have done so in Bisq by clicking the 'Payment Started' button.

It's important that you leave narrative field empty. If it's required for sending the payment out, then put a "-" there.

Once the BTC Seller receives your payment, they will confirm in Bisq and your security deposit and your purchased BTC trade amount will be sent to your wallet.

Please send payment only to the details provided by the BTC Seller in their Bisq account. Please leave the payment description blank.

How do I sell BTC with my SBP account?

You can sell BTC with SBP Faster payments on Bisq in 2 waysː

1. Make an offer to sell BTC with SBP on the RUB market.
2. Take an offer to sell BTC with SBP on the RUB market.

When the offer is confirmed, Bisq will provide the BTC Buyer with your SBP account details for them to send the payment. They should send payment at their first opportunity and confirm they have done so in Bisq by clicking the 'Payment Started' button.

Once you have received the payment from the BTC Buyer, you should confirm payment has been received in Bisq by clicking the 'Confirm Payment Receipt' button. Once you have done this, the BTC Buyer will receive their purchased BTC trade amount and you will receive your security deposit back.

BTC Sellers should expect to receive payment from the number *and name* shown in the BTC Buyer's Bisq account. Any differences could indicate malicious behavior and thus is a violation of Bisq trading rules.

Are there any limits for me to be aware of when using the SBP payment method?

Limits are set by your bank based upon the transaction rules set by the Bank of Russia central bank. At present, banks must allow at least 150,000 RUB per day. An upper daily limit is set by individual banks. It's likely there is also a 1 million RUB per payment restriction as well. There's no known minimum limit. For detailed information, check with your particular financial institution.

Are there any fees for me to be aware of when using my SBP Faster payments account?

Up to 100,000 RUB per month can be transferred for free. After that a fee of up to 0,5% of the transfer amount may be imposed, but no more than 1,500 RUB per transaction.

How does dispute resolution work when trading with the SBP payment method?

If a dispute occurs, the mediator may ask the BTC Buyer to send them bank information showing that they made the payment of the correct amount to the BTC Seller within the correct time frame.

In case of a failed or returned payment, the mediator may ask the BTC Seller to send them information confirming their account details.

In case of BTC Buyer making the payment late, or of another amount, the mediator may ask to confirm account details of the payment.

For more information see dispute resolution.