Banks in Belarus, Kazakhstan, and Kyrgyzstan have sharply raised fees for accepting cash rubles

Banks in Belarus, Kazakhstan, and Kyrgyzstan have sharply raised fees for accepting cash rubles

As RBC noted, while at the beginning of the summer such fees were usually 2–5%, now some banks are charging 10–15% of the deposited amount, and Belarus’s Neo Bank Asia is charging 20% outright.

Since the beginning of August, at least ten banks whose terms the outlet reviewed on their websites have tightened their conditions.

Fees for depositing Russian rubles at banks in neighboring countries appeared in June amid a sharp inflow of cash from Russia. An RBC source at one of the Belarusian banks linked the growing flow of cash from Russia to EAEU countries to tighter controls over cash transactions inside Russia.

@meduzalive