The Belarusian People’s Bank has announced a decisive change in policy, informing that it will stop offering services to non residents who are proxy customers as of September 26. This update was published on the bank’s official website. Source: Belarusian National Bank.
The reasoning behind the move ties directly to national legislation in Belarus and a tightening of oversight over financial transactions. Under the new rules, remote banking services will be halted for these customers, and existing agreements covering bank accounts and issued plastic cards will be terminated. Source: Belarusian National Bank.
Customers who previously opened accounts remotely are being urged to act promptly by transferring any deposits from BNB to other financial institutions or by visiting a branch to withdraw cash before September 26. The historical context includes Belarusian authorities placing BNB on Canada’s sanctions list in 2022 for facilitating Russia’s military operation in Ukraine. Source: Belarusian National Bank.
In recent times, the conversion of bank cards has appeared to be a key criterion for customers from Russia when choosing financial services. This shift reflects broader moves in cross border financial management and the evolving landscape of sanctions and regulatory controls. Source: Belarusian National Bank.
There have been increasing reports from Russian customers who request additional services tied to loans, sometimes prompting closer scrutiny by the Central Bank. The overall environment shows a tightening of consumer banking options and a push toward compliance with national and international guidelines. Source: Belarusian National Bank.