While in Japan utility bills are paid in bitcoins, Belarusian legislation still knows nothing about them. Lawyer at the international law company Cobalt Timofey Savitsky talks in detail about how electronic money and cryptocurrencies are regulated in Belarus.

Electronic money

In accordance with Belarusian legislation, electronic money is electronically stored units of value, issued into circulation in exchange for cash or non-cash funds and accepted as a means of payment when making settlements with both the person who issued these units of value and with other legal entities and individuals, as well as expressing the amount of this person’s obligation to return Money to any legal entity or individual upon presentation of these units of value.

To put it simply: electronic money is obligations expressed in electronic form. In fact, it is an electronic analogue of cash. If non-cash funds are only entries in accounts (a virtual display of cash), then electronic money is an independent instrument that has an issuer, as well as properties such as cost, convertibility and negotiability.

The emission (issue) of electronic money in Belarus can only be carried out by banks and NKFO (non-bank financial institutions). Today, such electronic money as EasyPay (Belgazprombank), WebMoney (Technobank), Belqi (Priorbank), as well as a number of others are distributed on the Belarusian market.

According to official statistics from the National Bank of Belarus, the issue of electronic money, as well as the number of transactions made with it, decreased significantly from 2012 to 2015. The reason for this may be a number of nuances related to the peculiarities of legal regulation.

• Firstly, possibility of using electronic money legal entities in Belarus is significantly limited. Belarusian companies can accept electronic money and actually only “cash out” it, or use it for a narrow range of issues - for example, to pay travel allowances, taxes and other fees to the budget. Electronic money payments between legal entities are not allowed.
• Secondly, the law does not provide for the mutual conversion of electronic money. Thus, the issuer cannot exchange his electronic money for money from another system (individuals can only do this through private operators). Together with the factor mentioned above, this limitation does not contribute to strengthening the position of electronic money in the business environment.
• Third, the attractiveness of electronic money payments for individuals was also undermined by the mandatory identification of electronic money users. Despite the fact that the purpose of identifying wallets is quite legitimate and understandable - to suppress illegal monetary transactions and combat drug trafficking - for many users, the cumbersome identification procedure turned out to be a significant factor in refusing to use electronic money.

There are also a number of obstacles to increasing the efficiency of the electronic money market in Belarus. As in most countries of the world, in Belarus, in order to issue electronic money, an appropriate license issued by the National Bank is required. Such a license should provide the right to issue electronic money, attract funds on deposit, open and maintain bank accounts, and provide cash and settlement services.

At the same time, licensing requirements are higher compared to those in force in Russia or the EU countries. For example, in a standard situation, in order to obtain a license for cash and settlement services to the population, it is necessary to have specially equipped premises with cash registers and receiving terminals. For a business that wants to conduct more of its business online, such requirements may be too onerous.

In addition, the Belarusian market is open to foreign electronic money only through the intermediary of local banks. The latter are obliged to undertake an irrevocable and unconditional guarantee of the possibility of repayment of electronic money of non-resident issuers. Largely for this reason, large electronic money systems like PayPal are still not fully operational in Belarus: the obligation to repay electronic money from such a large system can be quite burdensome.

Thus, electronic money, despite all its popularity in other countries and the presence of specialized regulation in Belarus, has not yet become such a convenient and understandable tool for Belarusians. The reasons for this, as noted above, are the practical features of the legal regulation of electronic money and a number of legislative obstacles to the freer use of such payment instruments on the territory of Belarus.

At the moment, several electronic money systems operate in the Republic of Belarus. The two largest of them are easy pay and webmoney transfer. Let's see how they differ significantly from each other, what are the positive and negative aspects of both these particular systems and electronic money in principle.
Paying is easy!
Easy Pay is the fruit of many years of work by Belgazprombank OJSC and LLC Open Contact" The Russian system has proven itself well not only as a payment method utilities, payments for the purchase of goods in online stores, but also as a currency exchange workstation. She has a special website for exchange rates, where you can change electronic money, for example, from rubles to dollars and back at a rate similar to the real one. Easy Pay has established itself as a high-quality way to transfer money to clients’ bank accounts, from one electronic wallet to another, as well as to Visa cards. They prefer to use it to purchase multimedia equipment and pay for services mobile communications, replenishing online accounts in casinos or games. The main advantage of Easy Pay is the fairly low commission when transferring money to accounts, plastic cards, replenishing balances, and exchanging currencies. Only about 1.5%.
For those who like to work from home.
Webmoney Transfer is similar to Easy Pay. It is distinguished by a wider coverage in terms of the number of users registered in the system. The very design and structure of Webmoney resources suggest that this electronic money is created for “working contacts.” A good technical and advisory service, a powerful currency exchange (currency conversion rates in Minsk and on the exchange are practically the same), many degrees of protection, the ability to manage your account from a mobile phone, etc. The brainchild of OJSC Technobank met all the hopes of its creators. However, it also has weaknesses. These include a larger commission than Easy Pay. It ranges from 3 to 5%. Also in this system, especially when creating a “certificate” (something like cards of regular verified clients), there is close monitoring of how you pay taxes. Of course, you don’t have to create a passport, but it makes it possible to use the improved interfaces of the webmoney keeper program. Representatives of “free professions” like to use this electronic money system - programmers, web designers, layout designers, bloggers and web writers, etc.
Difficulties in translation.
In general, it should be noted that electronic money has such an undeniable advantage as convenience. You can receive a money transfer without leaving your home, top up your bank account from your mobile phone, pay great amount services and goods. All this attracts people. Perhaps the biggest drawback is the lack of a clear legal position of the state in this area. Sometimes precedents happen. For example, you won ten thousand dollars in an online casino. They immediately transferred it to their webmoney account and went to cash out. You will be easily arrested. Because there is an article stating that you cannot transfer more than two thousand dollars a year without paying taxes. And then explain to the financial police where you got the money from and why you didn’t share it with the state.

The question of which electronic wallet is better to open for withdrawing money to a card arises for everyone who is faced with cashing out. Endless commissions for replenishment and transfers eat up part of your hard-earned funds. But choosing a service based on the principle of “where is cheaper” is also not worth it. Let's consider popular sites according to three criteria:

• simplicity of the interface and accessibility;
• liquidity (the ability to instantly exchange for cash or some asset);
• safety.

We do not ignore regional features. Each country has its own national systems. However, the times of the “cold curtain” are in the past. Therefore, from all the options we choose only universal ones.

• QIWI Wallet– characterized by an abundance of payment terminals and ease of use;
• Webmoney– the safest platform with a large selection of currencies;
• Yandex money– a plastic card can be sent to any country, there is no commission for non-cash payments;
• AdvCash– provides profitable internal transfers;
• Visa– ease of registration and compatibility with all terminals;
• Payeer– popular all over the world for working without proof of identity.

Of the six platforms common in the Russian Federation, Qiwi has the lowest commissions and the most user-friendly interface. But WebMoney guarantees the best protection against fraud. The accounts of both payment systems are linked to each other. This makes the tandem convenient and economical.

In the Republic of Belarus virtual services appeared relatively recently. Among them, the most popular are the following:

• Webmoney– as in Russia, the site takes first place due to its multi-currency;
• Yandex money– a plastic card is active in almost all payment terminals;
• Belqi– works on the basis of QIWI, therefore all operations are similar;
• EasyPay– one of the first services.

Yandex Money proved to be the most convenient. You can pay with an internal card in any store with a terminal. Cash withdrawals are also available, but commissions leave much to be desired. Easy Pay is convenient when paying through the “Raschet” system. With WebMoney it is easy to pay using ERIP and withdraw funds to a bank account (although the commission sometimes reaches up to 8%). An undeniable advantage is multicurrency.

Currently, the country has a ban on the operation of some Russian services. Therefore, they can only be used to bypass blocking, which is not entirely legal.

• Webmoney – optimal choice for freelancers;
• PayPal– used to pay for purchases abroad;
• UkrMoney– cooperates with PrivatBank, supports different currencies;
• Liqpay– convenient payment acceptance, cooperates with most large companies in Ukraine, Europe and America;
• iPay.ua – instantly transfers funds anywhere in the world;
• Payoneer– beneficial for remote workers who work with foreign customers.

The latter system became a trend in Ukraine in 2018. It allows you to quickly and safely receive money from any corner of the planet. Features a minimum commission. But if payment comes only from clients from the CIS countries, the most convenient is good old WebMoney (this makes cashing out rubles much easier).

TOP 3 best resources – detailed summary

Having studied what electronic wallets are available in Russia, Belarus and Ukraine, we highlight three popular ones:

• . It occupies leading positions in the Russian Federation and CIS countries. Its unique advantage is multi-currency and an internal exchanger.
• . Funds on the internal plastic card are available at bank payment terminals and ATMs around the world. This means that you can pay in cash or by bank transfer.
• To register, you only need a mobile number. Simple and intuitive interface. You can issue a plastic card in rubles and dollars.

Now let’s take a closer look at the tariffs and functionality to decide which e-wallet is best to choose for withdrawing money:

Important! QIWI and Webmoney accounts can be to tie between themselves!

If one of the sites suits you according to a number of parameters, it is better to issue a card for it. This way you don’t have to pay a commission for transferring money to plastic. Let's summarize the table data:

1. Kiwi It is most profitable to cash out large amounts and transfer funds within the system.
2. Yandex convenient for paying for goods and services in the terminal.
3. WebMoney saves only on foreign currency transactions.

Withdrawal to card

For clarity, let’s look at how to transfer money from an electronic wallet to a Sberbank card.

The mechanism is similar for all online services:

1. We enter Personal Area via email or social networks.
2. Click the “translate” tab (the name may vary slightly).
3. We choose the “to bank card” method.
4. We indicate the card number and amount.
5. We confirm the operation using an SMS code (E-NUM for Webmoney).

The main difference between different platforms is the amount of commissions when transferring funds to third-party bank accounts:

• QIWI – 2% + 50 rub.;
• WebMoney – 2.5% + 40 rub. – additional conversion fees may apply;
• Yandex Money – 3% + 45 rub.

I hope my reviews and arguments help you decide which e-wallet is best to get for use in Russia, Belarus and the CIS countries. And the main thing is to take into account regional characteristics.

After all, flexibility in accepting payments is one of the most important qualities of a successful freelancer. Therefore, I recommend registering all three payment systems and using them according to the following scheme:

1. Link WebMoney to Qiwi.
2. Make plastic cards for QIWI and Yandex Money.

This gives you the opportunity to accept any payments and freely transfer funds between accounts. At the same time, losses are minimal. With Yandex you pay in stores, and with Qiwi you withdraw cash.

However, it's up to you to decide. Personally, I have been using Webmoney (mainly because of its multicurrency) for more than 6 years to work with customers from Russia and Belarus.

Read more about how to create an electronic wallet in each of the services on the blog.

Let all your financial transactions be profitable and safe!

Since 2006, residents of the Republic of Belarus have been able to register their own wallet in one of the most popular payment systems - Webmoney. But, due to the peculiarities of the legislation of this country, there are some restrictions on working with the system for Belarusian users. In this article we will look at these features in more detail.

WMB wallet

Registration of keeper Webmoney in Belarus is no different from standard process creating a wallet in this system in any other country. Users of the republic also have the opportunity to make transactions in the national currency - the Belarusian ruble. To do this, you can use a special WMB wallet. But, since 2015, after the issuance of a presidential decree, an important detail has appeared: using the WMB wallet has become possible only after receiving a certificate no lower than the initial one. In addition, all movements of funds in national currency are controlled by Technobank. This is a guarantor for the WMB wallet. If the identification process at this level is not completed, when attempting to perform any financial transaction, the user will receive a refusal from the guarantor bank.

Such restrictions have significantly complicated the process of working in the service, since most of the republic’s users have a pseudonym or formal certificate. However, if there is a need to make payments and transfers in Belarusian rubles, you will have to increase the level of identification.

The Webmoney system involves several levels of user verification, depending on which one of the types of WM-passport is assigned. They differ in the possibilities for their owners.

During initial registration, the user enters his passport data, current phone number and mail address. This guarantees that he will automatically receive a pseudonym certificate. The next level of verification is formal. To receive it, you need to provide scans of documents to the service administration.

It is even more difficult for citizens of the Republic of Belarus to obtain an entry-level certificate. Detailed and up-to-date information on this issue can be found on the website of the Certification Center in Belarus.

At the moment, the process of obtaining a certificate involves the following algorithm of actions:

1. We upload scans of documents through the Webmoney website and wait for verification of their compliance with the data provided during registration, if this procedure has not been completed earlier to obtain a formal certificate. Then, we submit an electronic application through the certificate control panel. To do this, click the “get personal certificate” button.

A list of registrars opens, from which we select the Certification Center in Belarus. Opposite the name of the attestator, find “get a certificate” and click.

2. We visit the Certification Center in Belarus in person. Employees must provide original documents. Offices of this organization operate in several cities: Minsk, Vitebsk, Mogilev, Gomel, Brest, Bobruisk. Opening hours can be found on the website. There is a list of regional centers and their location on the city map.

This step is for users who have the opportunity to personally get to the specified address.

1. If the user lives far from the named cities, he can send documents certified by a notary by mail.

In addition, you can receive an initial certificate through a Personalizer - one of the participants affiliate program Certification Center. But this method is paid. Moreover, after the introduction of new rules in 2015, the price increased. The specific amount depends on the selected attester.

The Webmoney system allows some users to automatically pass this level of identification. Unfortunately, this option is not provided for citizens of Belarus.

Users who had funds in WMB before the new restrictive law was issued found themselves in an unpleasant situation: money in national currency was frozen until the user received an entry-level certificate. If, within several years, it is not received, these funds will be recognized as ownerless and, according to the law, will be given to the state.

Such strict rules are only relevant for the WMB wallet. But users can also have other types of wallets (WMR, WMZ, WME), which can be worked with even if they have a formal certificate. Many people deliberately do not increase the level of certification, since a higher level requires frequent checks by the administration and control over the movement of funds.

Deposit and withdrawal

The Republic of Belarus has fairly strict legislation regarding electronic money, so replenishing a Webmoney wallet and withdrawing funds from the system, in most cases, requires a high level of certification, and all operations are most often monitored.

Here are a few ways to officially top up Webmoney wallet in Belarus:

• come to one of the Technobank branches and register remittance to the account You will have to pay a commission to the bank and the system, but the money will be transferred instantly;

• use a terminal or ATM with a suitable operating system. Such a device can be found in any store or shopping center. The commission depends on the machine settings;

• link to wallet bank card Visa or Mastercard and top up your wallet balance from it. Detailed instructions for this operation can be found in the “personal account”;

• arrange a transfer through Belposhta branches. This method is suitable for users who have time to wait. The money will be credited to your account only after a few days;

• link a Webmoney wallet to another wallet payment system and perform transactions between them. For example, you can use Yandex Money. The main condition for such an operation is Account in both services must belong to the same person.

How to withdraw money from the system?

• by transfer to a linked card account or bank account. Linking can be done through a special service on the official website;

• using a Webmoney card. You can order it through the system’s website if the certificate is not lower than formal. The commission in this case is minimal;

• order a card from a foreign bank and withdraw money through it from a foreign currency ATM on the territory of the republic;

• Use the Epayments multi-currency card.

• use the services of one of the exchangers. A list of reliable organizations is available on the WebMoney website.

Through the “personal account” of the system you can find complete and up-to-date information regarding the replenishment and withdrawal of money from any type of wallet.

Each of these options involves various types of commissions and fees. The most profitable method must be chosen based on the specific situation.

As you can see, it is somewhat more difficult for users in the Republic of Belarus to work in the system than abroad. This is due to the financial security policy of the country's leadership. The Webmoney service is generally famous high level protection of users, and, in this case, it can be compared in terms of reliability, perhaps, with a state bank.

Online wallet- can be defined as a set of information available to financial institutions, indicating the right of a certain person to own and dispose of a certain amount of money. Electronic wallets can be tied to any electronic media or protected only with a password.

An electronic wallet can be in the form of a smart card, or an electronic medium with a built-in chip for reading information. Using an electronic wallet, you can perform the following operations:

• store money electronically;
• replenish and withdraw electronic money;
• make various types of payments;
• maintain the history of monetary transactions;
• store electronic applications (electronic ID (passport), digital ticket, social security card).

The term “electronic wallet” can mean various software, allowing you to carry out operations for storing, replenishing and transferring electronic money.

In turn, electronic money began to be actively used with the development of computer technologies and networks through electronic wallets.

Electronic money is a system for storing and transferring money, both in national currency and in the currency of any other country. In other words, electronic money is no different from real banknotes in the form of banknotes and coins, only they are stored not in a pocket or purse, but in electronic form on a server. For simplicity, we can draw an analogy with the balance of money on a mobile phone, or the Internet.

The popularity of electronic money is growing every day. The reason for this is the convenience of using an electronic wallet and money in electronic form, as well as the idea itself. It is no secret that among electronic money users there are a lot of people closely associated with computer technology.

However, there is still a difference between electronic and real money. Thus, electronic money cannot be lost or stolen. Although electronic fraud is also on the rise. In addition, money in electronic form has no real value, despite the fact that it can easily be converted into real money.

How to create an electronic wallet in Belarus

An electronic wallet has long been no longer a novelty in Belarus and is increasingly used as a convenient means for storing electronic money and paying for various services.

In our country, and are legally used. Let's take a closer look at how to make a Webmoney electronic wallet.

First of all, you need to log into the webmoney.ru portal and click the “Registration” button. On the page that opens, you must enter your mobile phone number, and then click the “Continue” button. On the page that opens, you need to fill out a standard form. Enter a nickname for the system, as well as full name, date of birth, actual place of residence, Contact Information(email, or personal website).

For security purposes, an access recovery function is provided. To activate, you must enter a security question and answer. And then click on the “Continue” button. After which you will need to enter your personal passport information ( personal number, when and by whom issued). And click the “Continue” button again.

A registration code will be sent to the email address specified during registration. You should go to your email, open the letter and copy the registration code, which is entered in the appropriate field on the site and click the “Continue” button. On mobile phone You will receive an SMS message containing a code. You should enter it in the field and click the “Continue” button.

It remains to perform the final operations. To do this, you need to come up with a password to log into the Webmoney website. It is advisable to choose complex password, which will reduce the likelihood hacker attack. After confirming the password, you need to enter the numbers from the picture and click “OK”. Your Webmoney account is ready.

Now all that remains is to create a wallet. To do this, select the wallet currency (RUB, WMZ, WMB) and click the “Create” button. The wallet has been created.

To replenish your wallet, you can use any convenient method, for example, use postal services, or top up your wallet from another electronic wallet. You can check your wallet balance on the Webmoney website page, where you just need to enter the number of the created wallet.

Making payments using an electronic wallet

To make a payment from an electronic wallet, you must click on the “Transfer WM” button. In the “To” column you must indicate the wallet number. Next, specify the amount, type of transfer and method of confirming the transaction and click the “OK” button. You will then receive a confirmation code on your mobile phone, which you must enter in the appropriate field and press “OK” again.

Registering an EasyPay e-wallet is even easier. To do this, again, you need to go to the official website easypay.by. The registration procedure will not take more than five minutes.

On home page you need to go to the “Register a wallet” section and similarly fill out all the proposed forms, followed by confirmation of the code.

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