Faster Payments System SBP

SBP Faster payments CBRF (RUB) is a payment method added (but not yet released) used in Bisq for buying and selling BTC for Russian Roubles (RUB).

Faster payments is the most common way people in Russia send and receive payment to each other outside a same bank.

SBP Faster payments usually instant, but can take up to 24 hours depending on the senders or receivers your bank.

Where can I find out more about SBP Faster payments?

• The official page of the system.

What countries are available for CBRF SBP Faster payments?

SBP Faster payments operates in Russia.

What currencies are available for SBP Faster payments?

SBP Faster payments allows peer to peer payments of:

• Russian Roubles (RUB)

What is the maximum trading duration for SBP Faster payments?

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 Faster payments trade?

0,1 BTC

Is SBP Faster payments CBRF a payment method that can be signed?

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

How do I set up a SBP Faster payments CBRF (RUB) account?

SBP Faster payments are provided via financial institutions (mostly banks) which joined the system, most retail banks offer it and you should follow their procedure to enable it for your account with them. You can cosult the webpage of the system for the list of joined institutions.

How do I add SBP Faster payments CBRF (RUB) account as a payment method in Bisq?

It is easy to add your SBP Faster payments account to 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 SBP Faster payments CBRF (RUB)
5. Complete the details
6. Choose to use a custom account name this helps makes it easier for you to manage multiple payment methods in Bisq (this will be visible only to you, for example: SBP Faster payments CBRF (RUB) - RUB - Ioahn 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. Ioahn Basilevic K.), the linked cellphone number, and the bank choice.

Faster payments on Bisq are 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 Faster payments account?

You can buy BTC with Faster payments on Bisq in 2 waysː

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

When the offer is confirmed Bisq will provide you with the BTC Sellers SBP Faster payments details for you to complete the payment. You should send payment immediately and confirm you have done so in Bisq by clicking 'payment started'.

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

Once the BTC Seller receives your payment they will confirm in Bisq and your security deposit and your purchased trade amount will be available in 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 Faster payments account?

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

1. Make an offer to sell BTC on the GBP market.
2. Take an offer to sell BTC on the GBP market.

When the offer is confirmed Bisq will provide with the BTC Buyer with your SBP Faster payments details for you to complete the payment. They should send payment at their first opportunity and confirm they have done so in Bisq by clicking 'payment started'.

Once you receive payment from the BTC Buyer you should confirm payment has been received in Bisq. One you have done this the BTC Buyer will receive their funds 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. Difference in requisites could indicate malicious behavior and is an offence to Bisq rules.

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

Limits are set by your bank upon ground rules required by the CB. So you can have at least 150 thousands RUB per day; also 1 million RUB per payment is probable restriction. For detailed information check with your financial institution. There's no known minimum limit.

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

Up to 100 thousands RUB per month can be transferred for free. Then limited fee can be applied: maximum is 0.5% of the transfer amount but no more than 1500 RUB per transaction.

How does dispute resolution when trading with SBP Faster payments?

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

In case of bouncing payment the mediator may ask the seller to send them information confirming their account details.

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

For more information see dispute resolution.