Both residents and non-residents can use the services of a bank in the Republic of Belarus. The procedure for using bank accounts, interest rates on deposits for the above persons are the same.
Who needs a bank account and why?
To conduct cashless transactions, individuals are entitled to open a current account. And legal entities, in turn, cannot carry out their activities without opening an account.
Bank deposits in Belarus
You can open a bank deposit in the Republic of Belarus both in Belarusian rubles and in foreign currency. Foreign citizens and foreign legal entities are also entitled to open deposits in Belarus.
Contributions are:
Urgent – money is returned to the depositor after the expiration of the period specified in the contract. Time deposits can be revocable when the possibility of early withdrawal is provided and irrevocable when this is not possible.
Demand – money is returned to the depositor upon request.
Terms and conditions of deposits differ, the minimum deposit period, as a rule, is one month.
In Belarus, the payment of income tax on deposits. Namely, income tax in the amount of 13% is taxed on interest income received on deposits in Belarusian rubles for a period of less than 1 year and in foreign currency for a period of less than 2 years.
What accounts (deposits) do banks open?
Checking account
Current account is used for:
– crediting funds received to its owner;
– cash storage;
– money transfers;
– cash disbursem*nts;
– conducting other banking operations.
Deposit account (deposit)
It is used to make a profit in the form of a percentage of the amount stored in the account. An agreement is concluded between the bank and the account holder, which stipulates: the period of storage of funds, the possibility of early withdrawal and the amount of profit received by the account holder.
Savings account
A savings account is also used to store cash and profit from the amount stored in the account, however, the account holder has the right to replenish the account and withdraw any amount of money from it to the minimum deposit amount. Interest is calculated on the amount that is in the account for more than a month.
Foreign currency account
Bank accounts in Belarus can be opened in four currencies:
– Belorussian rubles;
– Russian rubles;
– American dollars
– Euro.
Interest
Accounts opened by banks at interest are called deposit or deposit. Depending on the storage period of funds, the possibility of their early withdrawal, the percentage of profit received by the account holder depends.
Per child
In Belarus, it is possible to open a deposit in the name of a child. The contract is concluded with an adult, and the child will be able to dispose of it upon reaching adulthood. Accounts for a child can be either replenished or non-replenished, also some deposits have the possibility of early withdrawal, others do not, all this affects the interest rate.
What accounts can be opened in Belarusian banks to individuals?
An individual, both being a resident of the Republic of Belarus and not being entitled to open a current and deposit (deposit) account with the bank.
The current account is used for crediting various payments and temporary storage of funds, while the storage of funds in the deposit account allows its owner to receive a profit in the form of percent of the amount.
How to open a bank account for an individual?
For this purpose, you must contact the bank branch and provide an identity document. If such a document is drawn up in a foreign language, then it must be translated, and the signature of the translator must be certified by notaries or other institutions within their powers.
Current account opening procedure
The procedure for opening accounts in Belarus is enshrined in law, namely, the Regulation on the procedure for opening bank accounts of current (current) and other accounts.
An individual must:
It is necessary to determine the bank, the conditions of which suit the individual.
Contact the bank and provide an identity document.
Conclude an agreement on opening a current (settlement) or deposit account.
After opening an account, proceed with its use.
What documents can identify you?
In accordance with the Belarusian legislation, identification documents include: passport, residence permit, refugee certificate. It can also be a document intended for traveling abroad (issued by a foreign state or an international organization) for persons temporarily residing in the territory of the Republic of Belarus.
Guaranteed deposit safety in Belarus
The Law of the Republic of Belarus “On Guaranteed Compensation of Bank Deposits (Deposits) of Individuals” acts as a guarantee of the return of a bank deposit, in accordance with which the entire deposit amount is returned to the depositor in the event of bankruptcy or revocation of a license from the bank.
Which bank is better to open an account?
There is no single answer to this question. When choosing a bank to meet their needs, it is necessary to proceed from the goal of contacting the bank, as well as from the conditions offered by various banks for a particular service.
