After the rise in the dollar rate and another round of Western sanctions, Belarusians report problems with banks.
It is reported that “BTA Bank” has introduced a limit on money transfers, even between its cards.
It has emerged that the bank “Dabrabyt” has introduced a limit on withdrawals from the card: no more than 250 rubles per day. Belagroprombank has also introduced its limit, and Sberbank has removed the function of putting money on the card.
We could not find relevant news on the websites of the mentioned banks. Only Belagroprombank reported that it had stopped accepting packages of documents on several retail credit products since February 25. Meanwhile, MyFin writes about problems with Belarusian bank cards and new limits.
Who else?
Thus, although BelVEB Bank is talking about a partial solution to the problems with Visa and Mastercard payments, the cards still don’t work on the Internet, online stores, and the Apple Pay service. Also, the bank’s cards will not work abroad. In addition, the bank stopped crediting individuals and legal entities (according to specific services) and trade acquiring services.
Problems with the Visa card also arose in RRB-Bank and Technobank, which BelVEB sponsors. So far, Visa cards of both banks are used only for payments within Belarus, except for online purchases and the Apple Pay service. Now banks are looking for a new investor among the banks that did not fall under the sanctions.
Alfa-Bank did not impose any restrictions or limits, but on February 24 there were many reports that its ATMs do not issue currency. The bank explained this by logistical problems with filling ATMs with cash.
Priorbank first had problems accessing the mobile application and then issues with Visa card payments, including payments within Belarus.
In turn, “MTBank” has introduced limits on foreign exchange transactions on bank cards. So, one can top up its currency cards with Belarusian rubles for no more than 1,500 rubles per day. The same amount is limited to all actions on the bank’s cards, where foreign exchange transactions occur: purchases in foreign online stores, use of foreign services (Apple, Google, Yandex, etc.), buying and selling currency.
Many exchange offices and ATMs did not work in Belarusbank on February 24, and information about exchange rates disappeared from the site.
Time to withdraw money?
Economist Leu Lvouski in a comment to Belsat, called the withdrawal of deposits and money from bank accounts a “good strategy”.
“So far, all our banks are operating and working. The crisis that happened came from the Russian military, not from our banking system. Nevertheless, it should be understood that now that Belarus is also taking part in the attack on Ukraine, the most severe sanctions may be imposed on it,” the economist said.
According to the expert, Belarus is currently in the most vulnerable position in terms of imposing sanctions.
“Our banks will most likely not go bankrupt, but problems with the use of the banking system will begin or have already begun. I think that Belarusians still have a normal chance, especially when it comes not to millions of dollars, but a couple of hundred or thousands. Such money can still be found in banks.”
Earlier, economists have advised Belarusians to withdraw their money from banks subject to US sanctions.
