Hello, dear friends! Today we will discuss the topic of the so-called ruble conversion and what code 810 and 643 are. Why do I want to touch on this topic? I have already been sent several times a video about conversion and the ability to pay loans in a smaller amount than established by the agreement. They ask you to comment on whether this is true or not.
The point is that, allegedly, the non-denominated ruble (before 1998) has a code of 810, and the modern one - 643. And it seems that on this basis banks are committing some kind of fraud, taking into account the money in our current accounts in non-denominated rubles.
Those. the whole trick is that 1 ruble using code 643 is equal to 1000 rubles using code 810. The theory of conversion is based on this controversial judgment. In a bank current account, the currency code is the 6,7,8 digits of the account. For example: 40701810………
Some people believe that it is possible to convert an 810 currency into a 643 currency or vice versa. It saddens me very much that many lawyers and popular bloggers fall for this nonsense. They call changing the currency code the scam of the century, the greatest deception and the like, but at the same time they make a reservation that they cannot prove anything. In addition, there is no judicial practice on the “conversion” of currencies, and there is no legal justification for changing the size of a cash deposit or loan depending on the code value of the currency! Current legal information - Telegram Channel and YouTube Channel.
Below is a video from which the problem will become clear:
I understand people’s desire to pay smaller loans. Loans are an absolute evil, but that’s not what we’re talking about. The time has come, dear readers, to deal once and for all with these numbers and with this “deception of the century.” Let's start with an explanatory video. In the video, I and Candidate of Legal Sciences Pavel Bakhmetyev:
Here's another alternative view:
Denomination 1998
The denomination in Russia occurred on the basis of Decree of the President of the Russian Federation dated August 4, 1997 No. 822 “On changing the face value of Russian banknotes and the scale of prices.”
According to this decree, from January 1, 1998, the ruble was devalued and the circulating money was replaced with new ones at a ratio of 1000 to 1.
In fact, denomination was the replacement of old-style money with new ones. At the same time, the purchasing power of our currency has not changed at all.
Advantages of using abbreviated names
There are advantages to using the standard:
- when analyzing data in various systems, abbreviated names allow you to increase the speed of information processing and simplify it;
- when exchanging currency in a bank abroad, you can safely carry out the operation: these codes do not require translation;
- lack of confusion when designating some currencies with the same name (for example, the US dollar and the Canadian dollar).
The list that exists today, consisting of the currencies of all states, has a total of 280 units.
All-Russian currency classifier OK 014-94
Date of introduction - 07/01/1995
OKV was developed on the basis of an international standard for use in forecasting foreign economic relations, accounting for foreign exchange receipts and payments, accounting and statistical accounting, operational reporting on transactions related to international payments, monitoring compliance with contractual and payment discipline.
The Russian ruble had a sign - “810”, and a letter sign - “RUR”. Other currencies had different digital values. US dollar - 840, Euro - 978.
Thus, at the time of denomination, the digital value of the currency was “810”
The need for standardization
Any work needs to be standardized. As a result, the currency of each state has its own unique characteristics.
The digital currency code is regulated and accepted at the global level. The list of monetary units is quite large. The digital designation itself consists of several characters - three numbers and three letters written in Latin.
A currency code is an alphabetic or numeric abbreviation used to designate a monetary unit. Used as an abbreviation in bank documentation and when conducting money transactions.
The international classifier standardizes the regulations adopted by all states. It is based on the unification of the abbreviated designation of money of existing countries.
All-Russian currency classifier OK (MK (ISO 4217) 003-97) 014-2000
Date of introduction - 07/01/2001
The All-Russian Classifier of Currencies was approved by Resolution of the State Standard of Russia dated December 25, 2000 No. 405-st.
The classifier is part of the Unified System of Classification and Coding of Technical, Economic and Social Information (ESKK) of the Russian Federation.
The classifier is intended for the same purposes as the expired classifier OK 014-94.
The Russian ruble had a sign - “810”, and a letter sign - “RUR”.
In addition, from this period (from 07/01/2001), the position “643” (“RUB”) is used with the explanation that the position refers to a denominated ruble.
Changes No. 6/2003 OKW
Since January 1, 2004, the Russian ruble has a digital code - “643”, and an alphabetic code - “RUB”. From this moment on, the code “810” ceases to exist.
It should be understood that the classifier primarily performs statistical functions, and the value 810 is not currently assigned to any currency. Those. There is currently no currency in the world with code 810, according to the Classifier.
Despite the fact that in the all-Russian classifier the code of the Russian ruble was changed to 643, the code 810 was left in the structures of domestic Russian current accounts.
Thus, the chronology of events can be presented in the table:
| Period: | Event: |
| 1998 | Ruble denomination |
| from 07/01/1995 to 01/01/2004 | Ruble code – 810 |
| from 01.01.2001 | Ruble code – 643 |
Thus, in the period from 01/01/1998 to 01/01/2001, the ruble was already denominated, and the value 643 appeared only in 2001. Conversion theorists, I believe, do not take this circumstance into account.
What is a current account?
A checking account is simply an account that banks use to record money transactions.
In Russia there is a Central Bank that determines the order of numbers in the current account number. So, if you want to know why banks use the digital value 810, just take and open the Regulations on the Chart of Accounts for Credit Institutions and the procedure for its application approved by the Bank of Russia on February 27, 2017 N 579-P. Everything will become clear to you!
Regulations on the Chart of Accounts
In fact, the order of the numbers and their meaning is determined by this Regulation.
The Regulations on the Chart of Accounts for Credit Institutions and the procedure for its application, approved by the Bank of Russia on February 27, 2017 N 579-P, establishes the following:
The characters in the personal account number are located, starting from the first digit, on the left. The numbering of the personal account begins with the section number. When carrying out transactions on accounts in foreign, clearing currencies, as well as in precious metals in a personal account, the corresponding codes provided for by the All-Russian Currency Classifier (OKV) are indicated in the categories intended for the currency code, and for accounts in the currency of the Russian Federation, the ruble sign is used “ 810"
The Regulations also determine that the accounts of commercial non-governmental organizations begin with “407”, and the accounts of individual entrepreneurs begin with “408” and so on and so forth.
Thus, for current accounts, the ruble sign is used - 810. Despite the fact that the Regulation I cited has been in effect since 2017, the previously valid regulation has a similar explanation.
There is no deception or evil intention here. It seems to me that this should be clear to any sane person. These numbers are simply used for convenience. That's all. They do not affect purchasing power. Moreover, currently non-denominated money is not used in Russia.
Moreover, in Russia there should be no accounts that use the value 643, since this would contradict the above Regulation.
At the same time, if someone opens a current account with a value of 643, then this will not change anything.
Myths about deception and fraud
This small discrepancy in the currency numbers, which does not carry any meaning other than the classification of the currency of the Russian Federation according to various regulations, has given rise to a lot of myths and theories. The most common of them is that you can convert funds from an account with code 810 to an account with code 643 at a rate of 1:1000 and receive the corresponding profit. The consequence of this misconception was rumors about the possibility of paying money for servicing loans from the mythical “account 643”; as a result, an amount a thousand times larger would be credited to the client’s personal bank account.
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The second common horror story is that the Central Bank is preparing for a large-scale scam. At a certain point, all banks will convert deposits and will issue deposited amounts in the amount of one thousandth of the nominal value.
Another popular false belief is that using different Russian ruble codes 810 or 643 for domestic and international transactions means that different currencies are used for these transactions. There are also statements that the ratio of world currencies to the ruble using code 643 is recalculated at the exchange rate established by the State Bank of the USSR, that is, 1 US dollar is equivalent to 60 kopecks.
These theories have nothing to do with reality and there is no catch. There is only one currency in the Russian Federation – the Russian ruble. All codes relate only to the banking system, or more precisely, to its different sections. No digital code is indicated on cash. No matter what account the transactions are carried out with, the result will still be in rubles. No digital designations affect real money turnover. It should be understood that legislation changes over time, and in the future a situation may arise where it is necessary to replace the money code 810 or 643 with another digital combination. But this does not mean that this fact will entail a change in the payment ability of the ruble.
Other documents also have their own classification. Thus, a general passport in the list of identification documents has number 21. Over time, the classifier may change, the passport may receive a different digital code. But the majority of the population will not know about this, and this action will not cancel the validity of the passport.
What happens if you pay bill 643?
Dear friends, if you pay your loans or utility bills by entering code 643, then you will not change the purchasing power of money in any way.
For example, you have heard enough of various gurus who tell you that a loan of 5,000 rubles per month must be repaid to account 643 in the amount of 5 rubles per month. Yes, you can indicate this in the payment order. But understand that later the bailiffs will work with you when the bank sues and wins the case without any problems.
What is the essence of the fraudulent scheme
The point is this: by email or on social networks, the attacker offers to provide certain services, i.e., to ensure that obligatory payments or loans (if any) are accepted using code 810. At the same time, the scammers justify this possibility in great detail, give examples, that banks use the old code and they have good practices in this regard. Some offer legal services, claiming that they can get a recalculation in court. Of course, they ask for payment for their services. After payment is received, they either disappear or say that it didn’t work out, but they did everything they could, but the rotten system got in the way again.
The saddest thing is that every year there are more and more victims. As a result, borrowers give their last money to scammers, believing that they can resolve the issue with their loan, achieving its return with an amount 1000 times less.
How currencies are encoded
Currency code – its name in the form of numbers and letters. This was introduced by the international standard ISO 4217. It specifies that each monetary unit should have its own designation used in various forms of reporting. These abbreviations are also important to know if you are interested in currency prices.
The coding system used was proposed by the international standards organization, which developed most of the standards used today.
The entered codes were created in order to automate and unify work with currencies.
The document in question is the foundation for the formation of other classifiers. It consists of the following information:
- names of currencies in languages recognized by the official standard: English, French;
- alphabetic encryption;
- digital encryption (for example, 643 is the Russian currency code);
- digit of the exchange currency;
- a list of countries in which this money is an official means of payment.
The standard implies a breakdown of monetary units into three groups:
- first group: which are currently in circulation;
- second group: those in circulation by currency funds;
- third group: which were out of circulation on the date of release of the standard.
How to read code
If we take the letter designation, then any monetary unit, in accordance with this standard, has three letters in the code:
- the first two letters are the name of the state;
- the third is the name of the national currency.
Thus, the currency code for the euro is EUR, and the currency code for the dollar is USD.
Digital codes are generated in a similar way.
By the way, codes are assigned not only to the currencies themselves, but also to transactions with them.
Digital encoding is three digits corresponding to the code assigned to the state. For example, dollar: currency code is 840.
Euro currency code
This monetary unit is valid in the countries of the European Union (Eurozone). Recognized as official in 16 countries.
This currency is the most solvent unit that can be converted into the currency of any country in the world.
Digital code – 978.
Encryption in letters: EUR. Moreover, the first two letters are short for European Union. The last letter is the payment unit code.
It has appeared in the standard since 1999. At first it was listed as a currency for making non-cash payments. Since 2002, it began to be used as a cash means of payment.
