Belarusian Banks Have Sharply Raised Fees For Russian Rubles In Cash

• 14.08.2026, 21:35

Up to 15–20%.

Belarusian banks continue to tighten the terms for transactions involving Russian cash: in some cases, the fee for depositing rubles into an account is now as high as 20%. The new fees primarily affect non-residents who deposit Russian rubles in cash into their accounts, according to RBC.

A similar trend is being observed not only in Belarus, but also in Kazakhstan and Kyrgyzstan—banks attribute the tightening of fees to a sharp influx of ruble cash and rising costs associated with handling it.

What fees have Belarusian banks set?

Several banks at once—MTBank, the Belarusian subsidiaries of Sberbank and VTB, BelVEB, Belarusbank, Technobank, and Zepter Bank—have introduced a 15% fee for accepting Russian ruble cash from non-residents.

The effective dates for the new terms vary: MTBank and VTB raised their fees starting August 10, Sberbank starting August 15, and BelVEB and Belarusbank are switching to the new rates starting August 20.

Starting August 14, Priorbank began charging 5% of the amount of rubles deposited in cash.

Neo Bank Asia set the highest fee among the banks mentioned: as of July 29, depositing Russian rubles in cash at the teller window to replenish individual checking accounts costs customers 20%.

By comparison, fees at Belarusian banks previously did not usually exceed 2–5%.

Why Banks Are Raising Fees

Banks in the EAEU countries began introducing fees for accepting cash rubles on a massive scale as early as June 2026. One of the main reasons is the rapid influx of cash, which is causing banks to accumulate excess ruble liquidity.

In addition, costs for cash collection, transportation, and subsequent conversion of cash are rising.

An RBC source at a Belarusian bank also linked the increase in such transactions to the fact that Russians have become more active in taking ruble cash to EAEU countries and depositing it in local banks — amid tighter controls on cash circulation within Russia.

What This Means for Customers

For ordinary customers, the key change is that depositing Russian rubles in cash into a Belarusian bank account may become significantly more expensive. For example, with a 15% fee for depositing 100,000 rubles, the charge will be 15,000 rubles, and at a 20% rate, it will be 20,000 rubles.

Terms vary by bank: at some banks, the higher fee applies only to non-residents, while at others, it depends on the deposit method and account type. Therefore, before making a large cash transfer, it’s worth checking in advance the current fees charged by a specific bank and the date they take effect.

It’s worth noting separately that this specifically refers to the fee for accepting cash rubles—the mere fact of having an account at a Belarusian bank or non-cash deposits may be subject to different fees.

A similar practice is spreading to other countries

Banks in Kazakhstan and Kyrgyzstan are introducing similar measures. For example, Kazakhstan’s Bank CenterCredit raised the fee for accepting cash rubles from 5% to 10% effective August 12, while Halyk Bank increased the rate for retail customers to 15%.

Ekoislamikbank in Kyrgyzstan has also raised its fee from 5% to 10%.

In Armenia, some banks had previously gone even further—temporarily suspending transactions involving Russian ruble cash.