Visa, Mastercard restrict card operations for 5 sanctioned Belarusian banks (2024)

FAQs

Does Visa Mastercard work in Belarus? ›

The most widespread international payment systems in Belarus are Visa and MasterCard. Online payment systems are also available in Belarus. American Express traveler's checks are no longer sold or redeemed in Belarus.

Reality: Visa and MasterCard indeed stopped the global support for the cards issued by Russian banks. Meaning that Visa and MasterCard issued in Russia will not work outside of Russia in stores and ATMs. Inside the country, existing Visa and MasterCards keep on working just fine. No new ones being issued.

If your bank switched a card from Visa to Mastercard, it was likely because they felt the features and benefits of Mastercard were better than those of Visa. For example, the issuer might take into consideration processing fees or network-level benefits like travel insurance or purchase protection.

What payment methods are available in Russia? You can pay anywhere with Visa/Mastercard/Mir systems. Limitation is that Visa/Mastercard should be issued by Russian bank - foreign bank cards will not work.

"Payment using Visa and Mastercard cards of non-resident banks has been restricted in Sberbank's terminals system in Belarus since March 19," the bank's press service said.

Using foreign credit and debit cards

Almost all major banks in Belarus do not accept foreign-issued cards. Those banks that do may charge a higher commission. There is also limited cash available. Many ATMs have limits on the amount of cash you can withdraw, particularly for foreign cards.

Financial services giants Visa and Mastercard have joined the growing list of companies suspending services in Russia. The decision from two of the world's biggest payment providers adds to the punitive sanctions the West has levied against Vladimir Putin's regime in retaliation for the incursion into Ukraine.

The MIR card was the key part of Russia's strategy to build its own payment system. The country aimed to operate local payments and clearing operations independently from foreign companies such as MasterCard and Visa.

The convenience of digital options compared to both cash and cards is another reason credit cards are gradually being phased out. The ease of digitally exchanging money between friends, or from an employer to an employee, already gives digital transactions an advantage over both cash and cards.

Which is better Visa Mastercard or American Express? ›

Retailers and other vendors accept Amex cards at almost the same rate as Visa and Mastercard. However, Visa is the slight front-runner in terms of acceptance and seems to have the lead with 52% of the U.S. market compared to Mastercard's 24%. Amex still trails behind in the international markets.

Which is more secure? Both Visa and Mastercard offer zero fraud liability for all cards, which means that any user who is victim to fraud, theft, or breach of data will not be liable for the lost money. Both networks are generally considered to be secure, but use different methods for securing your data.

Any sum of money over $10,000 brought into the country (including traveler's checks) must be declared at customs. Individual residents are allowed to export foreign currencies in a lump cash sum up to $10,000. All exported cash assets above $3,000 must be declared.

Bank of Russia extends restrictions on foreign cash withdrawals for another six months until 9 March 2024. The Bank of Russia preserves the foreign cash restrictions due to the sanctions enacted against Russia that prohibit Russian financial institutions from purchasing western countries' cash.

B – transit visa, valid for up to 2 days; C – short-term visa, valid for up to 90 days; D – long-term visa, valid for the period exceeding 90 days with the right to stay in the Republic of Belarus up to 90 days, unless otherwise stipulated by the international agreements of the Republic of Belarus..

Visa and Mastercard are the most widely accepted credit card issuers worldwide. While American Express and Discover can come in handy, you'll want to bring a backup Visa or Mastercard just in case.

Both Visa and Mastercard are accepted widely around the globe, and the two networks have an almost identical global merchant acceptance.

Both Visa and Mastercard credit cards are generally accepted by the same merchants, anywhere you go. Therefore, any real choice between the two networks should only come down to which of their benefits you prefer.