In the Republic of Belarus at the end of 2018 there are about 25 banks. Several banks are state-owned, but most banks today are private.
Almost all banks in the Republic of Belarus provide services to individuals to open accounts. As a rule, the account can be opened in Belarusian rubles, US dollars or Euros.
To open an account, a foreign citizen must submit the following documents to the bank:
1. Original passport;
2. Notarized translation of the passport into Russian.
As a rule, opening an account for a foreign citizen in a bank takes several hours. Sometimes in order to carry out additional verification the bank needs 1-2 days to open an account for the client.
Usually, the bank offers to issue a debit card to the open account of the client. In the Republic of Belarus it can usually be Visa or MasterCard. As a rule, the bank does not charge money for opening an account – the account is opened absolutely free of charge. The bank can collect payment for issuing the debit card.
A person may dispose of the account opened in the Republic of Belarus independently or through a representative under power of attorney. The power of attorney must be issued by a notary and must include the right to dispose of the account.
Today, absolutely all banks offer the Internet banking service. So, you can manage your account from your computer or mobile phone. Unfortunately, today not all banks of the Republic of Belarus have specialists who are ready to serve a foreign citizen in English. Also, not all mobile applications and Internet banking are translated into English, which actually makes impossible for a foreign citizen to use these applications, so we recommend a very careful approach to choosing a bank to open an account.
If you want to transfer money from your personal account from abroad to the account opened in the Republic of Belarus – this is not a problem. Ask the bank the details for this transfer and transfer these details to your servicing bank abroad. As a rule, this transfer can take up to 5 working days, but usually, in practice, it happens within 2-3 working days. Since this money belongs to you and you make the transfer within the accounts belonging to you, this transfer will not be charged any taxes. The only thing: correspondent banks can charge certain commissions for this transfer.