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 non-qualified 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 co-owner of the company, whether it’s Russian children’s goods retailer, Detsky Mir, Apple, or Harley Davidson. The owner can then decide whether to sell their stock or invest in its future growth.”
Tinkoff Investments is part of a wider online financial services ecosystem, at the core of which is Tinkoff Bank. Founded in 2006, the bank is now the third largest in Russia, with 16.7 million customers.