Banks in Belarus offer several types of accounts and deposits, including current accounts for managing everyday transactions, deposit accounts that earn interest on funds stored, savings accounts that allow deposits and withdrawals, and foreign currency accounts for holding money in rubles, dollars, or euros. Deposit accounts can have different terms, such as fixed-term deposits with higher interest rates or flexible savings accounts with variable terms. Interest-bearing accounts help customers earn from their savings based on the duration of funds stored, while children’s accounts allow guardians to manage deposits until the child reaches adulthood.

In Belarus, individuals, both residents and non-residents, can open current and deposit accounts. A current account is used for routine transactions such as depositing and withdrawing funds, while a deposit account allows individuals to earn interest on their savings. Deposit accounts include both fixed-term and flexible options, each offering different interest rates and withdrawal conditions. Additionally, foreign currency accounts are available for holding funds in different currencies, including Belarusian rubles, Russian rubles, US dollars, and euros.

To open a current account in a Belarusian bank, an individual needs to visit the bank in person and provide an identity document. This could be a passport, residence permit, or another valid ID. If the document is in a foreign language, it must be translated into Russian or Belarusian, with the translator’s signature certified by a notary. Once the necessary documents are provided, the bank will process the application and open the account. The individual will then be able to use the account for financial transactions and payments.

In Belarus, identity can be proven with a variety of documents, including a passport, residence permit, refugee identification, or a travel document issued by a foreign country or international organization for individuals temporarily residing in Belarus. These documents may need to be translated into Russian or Belarusian, with the translation certified by a notary. Additional documents like a driver’s license or ID card may be accepted in certain cases, depending on the bank’s requirements.

Choosing the best bank for opening an account depends on your specific needs and preferences. Factors such as account fees, interest rates, customer service, and the bank’s accessibility should be considered. It is advisable to compare the terms and services offered by different banks, such as whether they support online banking, provide foreign currency accounts, or have convenient branch locations. Additionally, some banks may offer specialized services for business owners or foreign residents, so selecting a bank that aligns with your financial goals is essential.