Belarusbank has tripled the fee for accepting cash deposits in Russian rubles at its branches for crediting to current accounts held by non-residents, effective July 17.
From July 17, the fee is set at 15% of the deposited amount for accounts opened on or after that date. For accounts opened earlier, the new fee will apply from August 20.
The fee is charged in Belarusian rubles at the National Bank’s exchange rate on the day of the transaction.
As previously reported, Belarusbank announced the introduction of a fee for cash deposits in Russian rubles to non-resident accounts in late June. At that time, the fee was set at 5%.
In June, several other banks also introduced similar fees ranging from 2% to 5%. While other banks have not yet raised their fees, Alfa Bank has introduced a limit on cash deposits in Russian rubles. The limit is set at 500,000 Russian rubles per calendar month across all accounts held by an individual at the bank.
