Tinkoff Investments Provides New Stock Gifting Service

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Tinkoff Investments has become the first Russian broker to offer an online service for gifting stock.

To make a stock gift, customers tap on the `Gift Now` button on the page of the relevant stock in the Tinkoff Investments mobile app, specify the number of stocks, and select the phone number of the recipient who receives a text message or a notification about the gift.

Eligible financial instruments include those available to nonqualified investors, who have not yet passed the Bank of Russia`s mandatory test for trading complex financial instruments, such as stocks, bonds, and/or shares of exchange-traded funds (ETFs).

Dmitry Tarasov, Tinkoff Investments` head of investment services development and promotion, commented:

“Instead of gifting an item that the recipient may never use, customers can now gift stock of the item manufacturer, or a share in any company. This way, they can make the recipient a coowner of the company, whether it`s Russian children`s goods retailer, Detsky Mir, Apple, or Harley Davidson. Owners can then decide whether to sell the stock or invest in future growth.”

Tinkoff Investments is part of an extensive ecosystem of online financial services, at the core of which Tinkoff Bank is. Founded in 2006, the bank currently serves 16.7 million customers. It is in third place in Russia.

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