MTBank review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

MTBank suits people banking in Belarus who want free everyday spending and a fixed return on savings. The card runs on BYN 0 a month, free ATM use comes with it, and the online deposit pays 2% to 13.2% a year at a fixed rate.

Key facts

Best for
Free everyday banking in Belarus with a fixed rate online deposit on the side.
Monthly fee
BYN 0↗
Currencies
3↗
Local account details
IBAN↗
Free ATM withdrawals
BYN 1,000↗
Transfer fee
1.5% per instant payment by phone number (SMP) in BYN, minimum 3 BYN↗
Legal entity
MTBank CJSC (ZAO MTBank)↗
Headquarters
Belarus↗
Founded
1994↗
Support channels
Email, Phone, Chat, Help-centre↗
Audience
Teens
Pricing model
No monthly fee
Features
Free ATM withdrawals
Official website
mtbank.by

Savings

Headline rate
2% to 13.2%↗
Rate type
Fixed↗
Term
1 to 37 months↗
Minimum deposit
BYN 10↗
Access terms
Open, top up and close online via internet bank or Moby mobile bank; terms 32 days to 37 months; irrevocable terms cannot be withdrawn early↗
Account kind
Fixed↗

Money transfer

Delivery time
Instant, 24/7/365↗
Payout methods
Bank↗
Fee to send 1,000
BYN 15↗

Facts checked September 26, 2026, 5 sources

Apps and profiles

Pros and cons

Pros

  • The card carries a BYN 0 monthly fee, and MTBank lists it as a no monthly fee account.
  • Free ATM use of BYN 1,000 comes with the MTKarta card.
  • Savings start small at BYN 10 and pay 2% to 13.2% a year, set up online.
  • Licensed by the National Bank of the Republic of Belarus, 13, and by the Ministry of Finance of the Republic of Belarus.

Cons

  • The deposit locks money away: terms run 1 to 37 and irrevocable terms cannot be taken out before the end date.
  • Only 3 currencies are held, putting MTBank at 227 of 379 on currencies.
  • Instant payment by phone number carries BYN 15 plus a minimum charge on each transfer.
MTBank

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Scored 9.2 / 10 by VaultCue.

Who it suits

  • Belarusian households paying in rubles who want a fixed deposit rate rather than a prepaid balance such as Skrill.
  • Teenagers and students who want BYN 1,000 of free ATM use on a card rather than a wallet balance like PayPal Colombia.
  • People paying other Belarusians by phone number who need Instant, 24/7/365 delivery.

Who should look elsewhere

  • Travellers who want many currencies in one place: 3 currencies is slim, so weigh a wallet such as PayPal Colombia or Skrill first.
  • Anyone who needs to pull money out whenever they like: terms run 1 to 37 and irrevocable terms cannot be taken out before the end date, whereas a prepaid balance such as Skrill stays spendable.

How MTBank compares

Where MTBank is available

Available
Belarus
Licence in Belarus
National Bank of the Republic of Belarus (13), checked September 26, 2026
Licence in Belarus
Ministry of Finance of the Republic of Belarus (02200/5200-1246-1112), checked September 26, 2026

Countries from the brand (Source, checked September 29, 2026)

Frequently asked questions

Is there a monthly fee?+

There is no monthly charge. The listed fee is BYN 0, and MTBank marks the account as a no monthly fee account. Support runs on email, phone and chat if you need help opening it online through the internet bank or the Moby mobile bank.

Can I withdraw cash without a charge?+

Yes, within the card allowance. The MTKarta card includes free ATM use of BYN 1,000, and free cash withdrawals sit among the card's listed features. You can also check the balance in the internet bank or the Moby mobile bank before you go to the machine.

Who regulates MTBank?+

MTBank is a bank in Belarus, holding a licence from the National Bank of the Republic of Belarus, 13, and a licence from the Ministry of Finance of the Republic of Belarus, 02200/5200-1246-1112. The legal entity is MTBank CJSC (ZAO MTBank).

What rate does the online deposit pay?+

The online deposit pays 2% to 13.2% a year at a fixed rate, and it starts with a minimum deposit of BYN 10. It is a fixed account, set up in the internet bank or the Moby mobile bank.

How long must money stay in the deposit?+

Terms run 1 to 37, so the length is fixed when you start the deposit. You can begin it, add to it and end it in the internet bank or the Moby mobile bank, but an irrevocable term cannot be ended ahead of time, so pick one you can leave in place.

Which currencies can I hold?+

The card covers 3 currencies, and local transfers use iban details, so a Belarusian account can receive standard international credits. For a wider currency list, wallets such as PayPal Colombia or Skrill are the ones to weigh.

How fast are payments and what do they cost?+

Payments by phone number are Instant, 24/7/365, and money arrives as a bank transfer. Each instant payment by phone number carries a fee of BYN 15. That makes it a same-moment way to split a bill with someone else on the same service.

Who is the card aimed at?+

The card is aimed at a teen audience, and the account is built to be set up and run online through the internet bank or the Moby mobile bank. Support runs on email, phone and chat, so a question about the account can be raised in a few ways if the app leaves it open.

Sources

  • mtbank.by/services/smp checked September 26, 2026

    Backs: Delivery time, Payout methods, Fee to send 1,000

  • mtbank.by/about/general checked September 26, 2026

    Backs: Founded, Headquarters, Legal entity, Support channels, Licences

    “тел: +375 17 229-99-00 ... e-mail: bank@mtbank.by”

  • mtbank.by/cards/mtkarta checked September 26, 2026

    Backs: Free ATM withdrawals, Audience, Currencies, Features, Local account details, Pricing model, Monthly fee

  • mtbank.by/deposits/mtbelki-online checked September 26, 2026

    Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type, Term

  • mtbank.by/services/smp checked September 26, 2026

    Backs: Transfer fee

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Licence type, Deposit protection, Currency conversion fee.

MTBank

MTBank

Free everyday banking in Belarus with a fixed rate online deposit on the side.

9.2/10See alternatives