10 Facts To Help To Survive First Day Of Denomination

The banks are already testing the new money.

Belarusians will see the new money exactly in a month. There will be four zeros less on the bank notes, and coins will start jiggling in the pockets. Until then, a serious preparation to denomination is going on at the banks of the country. As told by the bank “Moscow-Minsk” to tut.by, the banks have recently received the new bank notes and coins for testing.

“So far, there is only the new money for testing in the banks storages. The money is real, it is the same money that will appear in the turnover on July 1, — employees of the bank “Moscow-Minsk” say. — They gave us the money temporarily. When the testing procedures are completed, we will return it to the storage of the National Bank.”

The key task of the testing is to check the compliance of the counting and sorting machines with the new money.

“There is no problem whatsoever with the paper money,” — the bank’s employees share the details. — As for the coins, there appeared a problem – some machines do not differ the 2 kapejkas coin from the 10 kapejkas.” “This is because the coins are practically equal in size”.

We remind, the 10 kapejkas coin has a diameter of 17,5 mm, while 10 kapejkas — 17,7. However, luckily, the two coins differ by composition. Both are made of steel, but the 2-kapejkas is covered with copper, while the 10-kapejkas – with copper and brasses. Now the specialists will adjust the software so that the machines would react to the composition of these coins and count them correctly.

In the near future, the banks should calculate how much new money they need for cashing machines, currency exchange offices, loading of money boxes, and send applications. Only after this, lots of new money will move from the National Bank’s bunkers to the storages of banks.

10 facts to help to survive the first day of denomination

• It will be possible to have the new money on one’s hands not earlier than midnight of July 1. Before this, no one under any circumstances can offer you to change the old money for the new one. “The old money will remain in the turnover until December 31, 2016, all banks and stores are obliged to accept it, so there is no need to go running trying to change the whole salary for the new bank notes,” — specialists remind.

• On the eve of July 1, the banks will publish at their websites the addresses of cashing machines which will be loaded with the new money, over the regulator’s instruction. Other machines will give change with the old money in the beginning. Since October 1, 2016 all cashing machines will be finally loaded with the new money.

• Cashing machines will not give out coins. Thus, you can get a metal ruble at your hands only as a change in a store or a currency exchange office.

• Stores, as it is known, have a right to give change with any money until December 31, 2016. For example, you can get either a metallic ruble or its former equivalent, the BR 10 K bank note. If you need fractional coins, you can address to a bank – they will change bank notes for coins absolutely for free during half a year.

• As for the reverse operation – exchanging coins for bank notes – it is not the bank’s obligation. So, if you dislike using coins due to some reason, a cashier in a bank can deny you in exchanging.

• If you have a desire to exchange the old money for the new one, it is possible to do it for free. No documents are required for this procedure. The only exception is coming up to a bank with a very big sum — 1000 base fees (which makes Br 210 million now). In this situation, they will ask for your passport.

• The most popular bank note, available in the cashing-machines loaded with the new money, will be Br 5. Today it makes, let us remind you, Br 50 K. This money is strongly recommended to be loaded into the cashing machines necessarily by the National Bank.

• Apart from the above, bank notes of Br 10, 20 and 100 will also be popular erstwhile. If today, the biggest bank note is Br 200 K, then after July 1 it will be possible to get Br 1 million in one bank note! In fact, 7 bank notes will be enough to cash an average salary.

• However, it’s not worth it to hope to see the bank notes of Br 200 or 500 (Br 2 and 5 million today) in the first days after denomination – there won’t be any of these in the cashing machines. It was done also to hedge against losses: risks that the employees of shops and banks could mix up the old and the new money remain very high. Therefore, the new 500 rubles will be available only upon prior request at the bank.

• We have got used to the new price tags in stores. However, the currency exchange offices will proceed to the “denominated” order only on July 1. The updated rates will appear at the boards immediately, with an accuracy of up to four decimal places. For example, the current rate of Br 19 788 will be displayed as 1.9788 (1 ruble 98 kapejkas). As for the cost of currency in the old money, it will be available only at the bank’s website and at the special booth.