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Our history

Ladies and gentlemen!

The history of the Institute of clearing houses and settlement centers is rooted in the depths of the Middle Ages, when commodity-money relations only began to emerge. However, the term "non-banking credit organization" used in Russia to the Interbank Settlement Center, continues to confound domestic and mainly foreign financial experts, while the design of the system, no doubt, play a crucial role in ensuring and stability of payment transactions.

Today we are experiencing a very difficult stage in the development of the Russian financial market. However, for almost all of its emerging banking specialists lessons learned from the practices of crisis management, are relevant more than ever today.

Operational management of payment flows, redirect payments through various settlement systems (settlement network of the Bank of Russia, correspondent banking, interbranch settlements), ongoing monitoring of current and instant liquidity clearing center and the participants of the payment system - these requirements have been at the forefront, and for  the payment system «STB» there was an urgent need to change the design center.

The lessons of the crisis allowed the management of the company "STB-Card" to make unmistakable choice in favor of a settlement center in the form of non-banking credit organizations, which, due to legal and regulatory restrictions are not allowed to make risky banking transactions (in particular, to attract the funds of legal entities and individuals in deposits with a view to their replacement on its behalf, to open accounts to individuals, to conduct transactions with securities referred to a group of high-risk investments, and so on.).

Following the decision to establish the center of the settlement payment system «STB» in the form of non-banking credit organization on 23.09.1999, the Bank of Russia has been given USS NBCO license number 3342-K to conduct banking operations in rubles and foreign currency.

List of approved NBCOs banking operations, unlike the operations of commercial banks, extremely laconic:

  • opening and maintenance of accounts of legal entities,
  • settlements on behalf of legal persons, including correspondent banks, on their bank accounts,
  • collection of cash, bills, payment and settlement documents and cash services for legal entities,
  • buying and selling foreign currency in non-cash form,
  • make money transfers on behalf of individuals without opening bank accounts (except for postal orders).

It is obvious that the above-mentioned banking operations are subject to a minimum financial risks and taking into account the weighted risk management of USS NBCO the potential financial risks faced by the organization, in fact, tend to zero.

Throughout its 10-year history of the USS NBCO has earned an impeccable reputation as an effective partner for institutions in the sphere of the interbank clearing services.

Between 2000 and 2005, the USS NBCO was the center of cash handling and processing center of Russia's largest private operator for collection and transportation of valuables - JSC "Inkakhran" business which in 2005 was transferred to a specialized NGO "Inkakhran".

Currently USS NBCO is focused on the implementation of the functions of the operator and specialized interbank settlement center developed under the name "United Settlement System" and which consolidates service terminal network for  cardholders of various banks with united fees and commissions.

Unique solution for the Russian market is implemented and successfully operates in the framework of USS NBCO  settlement system in a real time.  With no Russian analogues, the system allows to conduct  transactions between our customers almost 24 hours 7 days a week using a remote terminal management bank account via Internet.

A wide range of competitive advantages due to regulatory restrictions on the activities and the highest technological level of USS NBCO are based on the professionalism of our staff and modern hardware-software complex. Through this factors USS NBCO has achieved considerable success and well-deserved reputation as a reliable partner in the financial market of Russia and CIS.

Partners of USS NBCO consist of different credit institutions and financial institutions in Russia (including participants in the Russian payment systems) and abroad, thus confirming the status of the USS NBCO as an effective settlement center and a guarantor of stable calculations in the supported projects, including international.

At the moment USS NBCO also provides clearing services in accordance with agent programs of payment systems UnionPay, JCB and American Express.

USS NBCO - Your system of reliability and comfort.