Alfa-Bank Introduces Major USD And Euro Related Changes

Effective from 1 February.

Alfa-Bank will introduce a fee for dollar and euro deposits from 1 February. The fee will be imposed on clients who deposit funds in these currencies above a certain amount.

According to the bank's press service, the commission will be charged if the average daily balance on all accounts is more than 160 thousand BGN equivalent. If the accounts contain a smaller amount, the commission will not be charged.

The bank explains that the daily balance is determined as the sum of the balances on all dollar and euro accounts of the client. It is converted into Belarusian rubles at the National Bank's exchange rate at the end of the business day. The average daily balance is the sum of the daily balances on euro and dollar accounts divided by the number of calendar days in a month.

The fee is set at 0.1% of the average daily balance, with a minimum of 500 BYN and a maximum of 3,000 BYN. It will be introduced on 1 February.

"Now banks do not need dollars and euros in large volume: due to restrictions, problems with international SWIFT-transfers banks need dollars and euros less, so they take such measures", - explained in the bank.

As an alternative, the bank offers an irrevocable deposit in dollars for 25 months. In addition, one can open deposits in yuan, Russian and Belarusian rubles.