Kazakhstan to keep foreigners’ funds accessible after their bank cards expire

Foreigners’ funds will not be frozen after their payment cards expire in Kazakhstan, Inbusiness.kz reported, citing Kazakhstan’s Agency for Regulation and Development of the Financial Market (ARDFM).

The ARDFM previously limited the payment card validity period for foreigners to one year, with the change not applying to the already issued cards.   

«This amendment will not affect non-residents’ access to their funds, as bank accounts linked to bank cards remain operational after the cards expire. Banks notify clients of the expiration date in advance and allow them to manage their funds via their bank accounts,» the ARDFM said in a statement. 

After a year, foreigners must renew their cards. Notably, several banks still provide online banking services after the card expires.

Furthermore, non-residents may request transactions, such as cash withdrawals or money transfers, at the nearest bank office by presenting their identity documents.

This new regulation aims to reduce the number of cards registered to dummy entities that could be used for money laundering and terrorism financing

To apply for a payment card at Kazakhstani banks, a foreigner must present a passport, a residence permit or any other document proving their legal stay in Kazakhstan, such as an employment contract or a certificate issued by an educational institution, along with any additional documents at the bank’s request.

Kazakhstan’s Ministry of Digital Development reported that around 695,000 Russian nationals received payment cards issued by Kazakhstani banks between 2022 and 2024.