(Reuters) -Some main Russian banks began charging charges for accounts in {dollars} and euros after authorities mentioned they might take into account imposing adverse rates of interest for overseas forex deposits, drawing the ire of consumers.

Russia was contemplating imposing adverse charges on deposits held in U.S. and European currencies to spur using different currencies, the central financial institution mentioned final month, including that the measure might goal banks’ company, not retail shoppers.

However on Thursday Russian on-line financial institution Tinkoff introduced a 1% month-to-month cost for some foreign exchange accounts after its peer, the Russian unit of Raifeissen Financial institution Worldwide’s, promised adverse rates of interest on some overseas forex holdings from June 30.

Tinkoff, which has provided alternate charge incentives to encourage Russians to maneuver FX holdings to roubles, mentioned the 1% service price could be deducted month-to-month on accounts in {dollars}, euros, kilos and Swiss francs with a steadiness of over $1,000, ranging from June 23.

Raiffeisen mentioned on Thursday it could enhance charges for overseas forex transfers, whereas Rosbank, which Societe Generale (OTC:) bought to a agency linked to Russian oligarch Vladimir Potanin in Could, mentioned it was contemplating fee on greenback and euro accounts by the tip of June.

After the financial institution’s assertion, prospects of Tinkoff, owned by TCS Group Holding, complained of empty ATMs on a chat discussion board.

“Then allow us to take out cash, what are you monsters as much as!” one person wrote quickly after the financial institution mentioned it could be introducing the price.

Tinkoff help responded to a Reuters reporter saying they high up their ATMs usually however couldn’t say definitively when money could be added to those who had emptied.

Uralsib Financial institution, one among Russia’s high 25 lenders, has additionally launched fee on euro-denominated accounts.

‘FORCED MEASURE’

With their already restricted money holdings of exhausting forex, Russian banks have few choices for investing foreign currency due to capital controls in Russia and the danger of funds overseas being frozen because of Western sanctions.

State Duma consultant Yevgeny Fedorov advised a Moscow radio station that the Normal Prosecutor ought to look into Tinkoff’s transfer, saying the financial institution had no proper to impose a price on present accounts with out warning prospects.

“In accordance with Russian regulation … If in case you have possession of your funds, then nobody has the best to take that possession away from you,” he mentioned. “When individuals made the deposit, they didn’t anticipate the financial institution would begin taking funds away from them.”

Tinkoff mentioned monetary establishments had been restricted in having the ability to securely maintain overseas forex “within the present geopolitical scenario” and mentioned an insignificant variety of prospects held quantities exceeding $1,000.

“It is a pressured measure. It’s as a result of unreliability of overseas companions when it comes to overseas forex operations for Russia and is aimed toward decreasing Tinkoff Financial institution’s overseas forex positions,” the financial institution mentioned in an announcement.

“Within the close to future, we will probably be providing accounts in various currencies.”

Tinkoff mentioned it could solely be attainable to open financial savings accounts in roubles from June 23 however that it could waive the fee for transfers over the SWIFT international funds system till June 30.

An identical measure would quickly be adopted for overseas forex held in brokerage accounts, Tinkoff mentioned.