Currency exchange services can be used at any bank. Every day, credit institutions carry out transactions for the purchase and sale of foreign currency for different amounts. Carrying out currency transactions on the territory of the Russian Federation is regulated by federal laws. Thus, the new Federal Law No. 263-FZ of 03.07.2016 amended the rules for currency exchange without a passport.
Do I need a passport when exchanging currency in Russia
The right to buy and sell foreign money granted individuals both in cash and non-cash form. The law establishes a mandatory requirement to carry out such transactions only through authorized credit organizations - banks.
The Law No. 115-FZ on combating the legalization of proceeds from crime spelled out the obligation of banks to identify the client when exchanging currency. Must be checked:
- Full name of the client;
- citizenship;
- Date of Birth
- residence address;
- details of the presented document.
Until July 2017, a currency exchange operation without presentation of documents could be made for an amount of up to 15,000 rubles. If this amount is exceeded, a complete identification procedure is required, in which a questionnaire for the client is filled out, the TIN, place of work, phone number, e-mail, source of money, 2-NDFL, etc. are indicated. The provision of additional information is determined in each bank independently and is selective character.
The innovations were aimed at making operations with cash currency more transparent, insuring financial organizations against fraudulent schemes and fraud. As a result, there were obvious shortcomings of the installed system:
- increasing the level of load on banks;
- increase in customer service time;
- the proliferation of illegal exchange points, which have become preferable to official organizations;
- reducing the number of service offices and transferring clients to impersonal transactions via the Internet.
These trends and the growth of the exchange rate led to the adoption of changes in legislation in the field of currency exchange.
At the moment, answering the question of how much currency can be bought without a passport, it is worth noting that since July 4, 2017, the amount of the ruble equivalent has been increased from 15,000 to 40,000 rubles. The changes are related to an increase in the number of such transactions carried out by banks. They allowed to reduce the burden on bank employees, making the exchange process easier and faster. The innovation contributes to a reduction in the volume of documentation drawn up during the operation. Reduced costs of banks for registration of the procedure and subsequent storage of data containing personal information of clients.
Now, to find out how many dollars you can buy without a passport, it is enough to divide the established limit of 40 thousand rubles by the current selling rate of the bank you applied to. Today this amount is approximately equal to $ 682.
When the amount of purchased currency varies within the equivalent of 40 to 100 thousand rubles, banks have the right to apply the procedure for simplified identification. In this case, you only need to present your passport.
Full identification in foreign exchange transactions
Full identification is carried out when exchange transactions for an amount exceeding RUB 100 thousand and includes the following requirements:
- Verification of the document confirming the identity of the client. It can be a general civil passport, an international passport, or a 2-P form issued for the period of replacement of a citizen's passport. A non-resident must present a foreign passport.
- Filling out a questionnaire or financial dossier. The document is formed on the basis of data obtained from the passport. The information is entered by the employee of the credit institution independently. The client only checks the correctness and signs. You do not need to fill out a questionnaire with every exchange. If any data is changed, the employee himself will enter this information into the database. The paper questionnaire is kept in the bank for 5 years and then destroyed. The exception is the information entered in the electronic database.
- Assessment of the likelihood of risk when working with a specific client. The procedure has no clear boundaries and is conditional. The risk is determined by answering questions. The decision is made by the evaluator of the client. In fact, customers depend on the internal regulations of banks, on the basis of which credit organisation will be able to refuse to carry out the operation.
Each bank has a different form of such a questionnaire. Financial monitoring has developed 17 points, including information on financial situation, business reputation, business objectives, etc. On their basis, banks formulate questions for the client. The higher the potential risk of the client, the more questions he will be asked. So, the operation of exchanging a large amount in small bills can be recognized as suspicious. The bank has the right to request information about the source of income.
It is worth noting that a simple exchange of a large amount of money is not classified by banks as operations requiring increased control.
Currency exchange at the bank and via the Internet
Currency exchange restrictions do not apply to transactions carried out in online systems: mobile bank, Internet banking. If you use such services, it means that you have an account or card of this bank, upon opening which a complete identification procedure was carried out.
The amount of currency exchange without a passport is not limited when using the online bank. The purchase and sale of currency via the Internet can be carried out for any amount. It is worth considering that online clients are offered a more favorable rate than at the bank's office. Having exchanged a large amount through Personal Area, you just have to order it at the bank's office. When using the Internet bank, you do not have to worry about safety large sums.
It is worth noting the main advantages of conducting foreign exchange transactions in a bank. They can be formulated as follows:
- It is possible to purchase cash in the required amount. If the amount is large, it is worth ordering it in advance at the bank office or by phone. With a good exchange rate and no money at the cash desk, it is worth opening an account in the desired currency. Later when cash appears Money withdraw them from the account at the office.
- When exchanging large amounts, the bank can offer an individual rate, which will be quite favorable compared to the general conditions.
- Bank exchange guarantees the security of the transaction. The client can be sure of the authenticity of the foreign money received, as well as the correctness of the calculation at the exchange rate.
On Monday, Alexander Lukashenko signed a decree, according to which the rule for buying currency by passport is canceled. In three months, the National Bank will have to make changes to all regulations... And the decree itself will come into force after its official publication. The presidential press service explained the innovation as follows: "in order to liberalize the currency regime and the procedure for conducting currency exchange operations." We would like to remind that we have been buying currency according to the passport in any quantities since October 1, 2011. What is the reason for such liberalization?
Mandatory presentation of a passport was canceled due to the fact that Belarusian ruble has become stable or do people simply have no money to buy dollars and euros? For more than a year Belarusians have been net sellers of foreign currency.
I would not single out any one reason. A complex of factors influenced the abolition of this norm, - said Anton Boltochko, economist, expert of the Liberal Club, to KP. - In 2011, the norm for the compulsory sale of foreign currency by passport was introduced to stabilize the market. Now there is no reason to keep it. The National Bank canceled it. There is one more important factor. The National Bank is entering the stage when money-credit policy, which he conducts, becomes many times more difficult. When it is necessary to reduce inflation, to stabilize the exchange rate, then the most urgent measures are taken, which to one degree or another work. And when it is necessary to adjust the work of the system, to make it stable, predictable, then a simple tool is no longer enough. Here it is necessary to work with the expectations and trust of business entities and individuals in order to create conditions when they will be more loyal to the existing system. And, apparently, the National Bank is starting to work in this direction. I think that soon we will see some more perfect toolkit related to the assessment of inflation expectations than the one that is used now.
- To cancel the sale of foreign currency by passport - was it not a requirement of the IMF and other international creditors?
I have not seen such requirements. Usually large lenders work at the macro level, where other measures aimed at stabilizing the situation are important. Do not forget that such a measure as buying currency with a passport existed not only in Belarus. And in those countries with which international institutions work, they also apply a similar norm. Which does not affect the cooperation between institutions and the state.
AND HOW DO THEM?
Where do they buy currency with a passport, and where not?
Despite the fact that currency will soon be sold to Belarusians without showing a passport, this will not apply to all amounts. So, when buying currency in the amount of more than 1000 basic units (now - 23 thousand rubles), you will need to present a passport. We decided to see in which countries and in what cases it is still necessary to present documents when buying currency.
Russia
If you buy currency for less than 40 thousand Russian rubles ($ 705), you do not need a passport.
Ukraine
You can buy or sell currency without a passport, if the amount does not exceed 150 thousand hryvnia ($ 5684).
Poland
You can buy or sell currency in Poland without a passport.
Lithuania
You can change currency in Lithuania without presenting a passport. But some banks may require an identity document - both when exchanging any amount, and when exchanging only large amounts. For example, Swedbank requires the presentation of documents when exchanging an amount of 1000 euros or more.
Kazakhstan
When exchanging, you must provide a passport if the amount exceeds 1 million tenge ($ 3220).
Romania
It is possible to exchange currency for lei, or vice versa, to buy any currency only upon presentation of a passport. And it doesn't matter what amount we are talking about. Even your passport number is entered into the database.
Moldova
When exchanging more than 50 thousand lei ($ 2740), you must show your passport. But if there is a suspicion that you have not entirely honestly earned money, then they may ask for a passport when exchanging a smaller amount.
Many photographs from Belarus can be easily confused with photographs from of Eastern Europe... It’s hard to imagine that you don’t need to go to distant lands to see cozy old houses, Gothic churches and impregnable castles! Photos from a vacation in Belarus are remembered for their bright, rich colors and magnificent landscapes. For example, pictures of Braslav Lakes or Belovezhs
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There are many national holidays in the Belarusian calendar of holidays - Generousness, Radunitsa, Gromnitsy, Soroki ... Each of them has its own traditions and rituals, which Belarusians carefully carry through the centuries. Generosity is a holiday tour of homes, accompanied by generous songs and congratulations. It is very similar to Christmas carols - they go to generous just on Christmastide. There is always a reason in a group of generosity
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In conditions of long-term stability in the market, registration of passport data when buying currency has lost its relevance. This opinion in an interview BelaPAN said Vadim Iosub, a senior analyst at the Alpari forex broker, commenting on the presidential decree of May 29 on the abolition of this administrative measure.
The decree on the abolition of registration of passport data when buying currency indicates the confidence of the authorities in the further stability of the market. Photo 222.by
Mandatory registration of passport data was introduced in the fall of 2011 "In a situation where the government made every effort to administratively curb the demand for currency", which steadily exceeded the offer, the expert recalled.
“The situation is stable now. For more than a year, the supply of foreign currency has exceeded demand, the rates of the dollar and euro have been declining since January 2016 ", - noted Iosub.
According to him, the decree testifies to the authorities' confidence in further stability. foreign exchange market, and is also an indirect argument in favor of the fact that there will be no return to the old practice - turning on the printing press.
Iosub agreed with the opinion that the cancellation of registration of passport data makes it difficult to control foreign exchange transactions of citizens. “But we must not forget that any transactions worth more than a thousand basic units - now it is 23 thousand rubles - are made upon presentation of documents. It is clear that they can be broken down into parts. But this decree is also a blow to the remnants of the black market, which went to citizens who did not want to "shine" their funds. Such normative legal acts go through a lengthy approval procedure, so the interests of the fiscal and security officials, of course, were also taken into account. The state decided that in such a decree there will be more pluses than minuses "- said the analyst.
At the same time, he stressed the lack of connection between the decree and the renewal economic growth announced by the government. “The Belarusian ruble became stable just in the face of a slowdown in the economy and a fall in real incomes of the population, which began to eat up foreign exchange reserves in order to preserve previous level consumption ", - explained the interlocutor.
The decree of May 29 was developed "In order to liberalize the exchange rate regime and simplify the procedure for conducting foreign exchange transactions" and comes into force after its official publication, the presidential press service reported. The National Bank instructed, within three months, to ensure the alignment of legislative acts with the document and to adopt "Other measures" for its implementation.
Registration of passport data when buying currency was introduced on November 9, 2011 on the basis of presidential decree No. 449 "On some issues of foreign exchange transactions by individuals" dated October 6 of the same year.
“This decree was adopted within the framework of the government developed and The National Bank Belarus of a set of measures to reach a single equilibrium exchange rate of the Belarusian ruble,- said in the message of the presidential press service. - Registration of passport data of individuals will make it possible to form an interbank centralized electronic database on accounting foreign currency sold to individuals using an automated information system a single settlement and information space ".
We will tell you what currency is now used in Belarus and why it is called "bunnies". Let us dwell separately on exchangers and the current exchange rate.
In Belarus, their own rubles are in use. They are similar to the Russian ones only in name, and the locals often call them "bunnies". Where did this diminutive name come from, and what is remarkable about this currency? Let's start from afar.
Since 1 2016, the ISO code of the Belarusian ruble is BYN (before that it was BYR). To determine the exact exchange rate against the Russian ruble, euro or dollar, use a special calculator.
A brief background for the most meticulous
The Belarusian currency is relatively young. Until 1991, only Soviet rubles were used in the country, but with the collapse of the USSR, the question arose about the need to create their own banknotes. The fact is that compared to other countries Soviet Union Belarus had the lowest prices for food products, and in order to prevent their massive export by foreigners, the government introduced special coupons for goods.
At first, coupons were used along with Soviet rubles, and at the end of 1992, the country switched to settlement tickets, the rate of which was equal to 10 Soviet rubles. New itself National currency at this time lay on electronic accounts and waited in the wings.
Some public figures first suggested calling means of payment"Thaler" - in honor of an old German coin. They even developed sketches of banknotes and coins ("pennies"). However, in the end, only the poet Nil Gilevich supported such a name, while the majority supported the more familiar name - “Belarusian ruble” or “ruble”.
Since mid-1993, Soviet money gradually began to be withdrawn from circulation, and in 1994 the local ruble acquired the status of the only legal means for making payments on the territory of an independent state.
Where did those "bunnies" come from?
In order to move away from the political theme as much as possible, it was decided to use neutral images for the design of banknotes. Thus, various animals appeared on banknotes: bison, bear, squirrel, lynx, elk, wolves, beavers and the notorious hare, thanks to which the people began to call new money "bunnies" (hare = 1 ruble).
Animals decorated banknotes up to 100 rubles. But on larger banknotes there are images of architectural monuments.
On the banknotes of the new design (modification of 2011), animals are no longer there; instead, images on the banknotes are dedicated to different regions of the country. Nevertheless, the Belarusians still call local money "bunnies" out of habit.
Denominations and modern course
The currency of Belarus has gone through difficult times. If in 1992-1994. one local ruble could be purchased for 10 Soviet rubles, then in subsequent years its rate began to steadily fall under the influence of inflation.
In 1994, the Bank of Belarus carried out the first denomination of its currency 10 times. Six years later, another denomination was required - this time 1000 times! And on July 1, 2016, the denomination took place 10,000 times, and for the first time coins with a denomination of 1 kopeck to 2 rubles appeared in everyday life. Earlier, only commemorative coins were issued in the country.
Where is the best place to exchange Russian rubles for local
Since the Belarusian ruble is a non-convertible currency, it cannot be bought outside the republic. But within the country, any currency can be freely exchanged for the national one. This can be done at exchange offices located at airports, bus stations, hotels and large shopping centers.
A passport may be required for the exchange procedure. The receipts and checks received during the exchange should be kept: they will be required when leaving the country.
Until recently, there were notes of exorbitant denomination, but these are not the largest banknotes that were circulating in these lands. In 1923, a Polish banknote of 10,000,000 marks was used on the territory of Belarus. True, it was not at all millionaires who used it, it was possible to buy with it only a loaf of bread. It's all about the terrible inflation that hit Europe after World War.
Curiosities
Before the denomination of 2016, there were a variety of curiosities in Belarusian stores. For example, the guys took several cans of kvass. To pay, they had to empty a backpack full of banknotes. The saleswoman was clearly not ready for this!
