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With many successful startups originating from its local entrepreneurs, Australia has a vested interest in cultivating future business and tech relations with this small country between Poland and Russia.
Although imported services aren’t at a high in the current two-way trade relationship which is at AUD$5.1 million, the growth of young companies in the online environment shows potential increases in growing service imports to Australia. This growth is valued at a current year-on-year growth of 33.3%.
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Victor is part of an upstart, online journalism platform, that faces severe oppression like many of the free press movements in Belarus.
Whilst in Australia, he plans on doing some freelancing journalism to increase the capital available for their small startup.
He uses a benchmark amount of 1,000 AUD and compares the following services that will send the money in either USD or EUR. Most of the transfer companies only send in these currencies and the few that do send in BYR means that the amount received will be a couple of million due to the exchange rate of the BYR compared to the AUD.
This means that comparing in USD as below (still received in Belarus) makes for easier data comparisons in the case where Victor is considering different service options.
| Money transfer company A | Money transfer company B | |
|---|---|---|
| Exchange rate | 1 AUD = 0.6976 USD | 1 AUD = 0.683589 USD |
| Transfer fee | 70 AUD | 60 AUD |
| Amount of USD received in Belarus for 1,000 AUD | 697.58 USD | 683.59 USD |
| Transfer time | Minutes | Minutes |
| Transfer options | Online, Phone, Agent | Online, Phone Agent |
| Difference in USD | 13.99 | 13.99 |
Most of the money transfer services will allow a recipient to get money in USD or EUR for cash pickup and not in BYR. These currencies can be converted in Belarus for the BYR but needs to be brand new currency. See tips lower down in the article for further advice on this.
There are a couple of services to use for instantaneous money transfer with a cash pickup in Belarus as noted above.
These are perfect for emergency situations like Victor’s associates that might need emergency cash flow for their small startup.
It is important to know that in these situations the emergency cash will be in the form of either USD or EUR and will still need to be exchanged for BYR at a local exchange bureau.
Back to topWhen picking up cash in Belarus, you will receive the money in USD or EUR. When you take the money to a local exchange bureau as noted above, you will need to present new and unmarked currency for exchange.
Some places will accept USD and EUR, but not all of the places you might visit. If you are new to Belarus cities, it is advised to check out how safe the areas are where you want to pick up your cash.
Back to topIf Victor or his associates want to receive money that will require a cash pickup, they need to provide and have the following with them:
Paypal will require you to set up an online account as well as providing account details for where money is uploaded from or paid out to. This requires basic details and banking details.
