The procedure for performing interbank payment transactions via EPS has been updated

The National Bank of Ukraine has clarified the procedure for performing interbank payment transactions in Ukraine in national currency through the National Bank of Ukraine's electronic payment system (EPS).

Thus, the Resolution of the Board of the National Bank of Ukraine No. 16 dated March 3, 2023 "On Approval of the Instruction on Performing Interbank Payment Transactions in Ukraine in the National Currency" was amended.

In particular, the NBU postponed the entry into force of clause 58 of Instruction No. 16 regarding the obligation of a SEP participant to credit funds under a payment transaction to the recipient's account within one hour of crediting these funds to the technical account of this SEP participant in the SEP Processing Center (SEPPC) from May 1, 2024 to January 1, 2025.

Such a postponement will allow EPS participants to make the necessary improvements to their automation systems and restructure the relevant business processes to ensure compliance with this requirement.

In addition, the amendments to the Instruction on Performing Interbank Payment Transactions in Ukraine in the National Currency provide for:

1) expansion of the list of exceptions to the obligation of the EPS participant to ensure that funds under a payment transaction are credited to the recipient's account within one hour by exceptions regarding:

• preliminary crediting of funds under a payment transaction to a separate account determined by a regulatory legal act of the National Bank on protection measures and determining the procedure for certain transactions in foreign currency, in order to ensure that the EPS participant performs the functions of a currency supervision agent for compliance of the transactions with the currency legislation of Ukraine
• performance by the EPS participant of technological works for maintenance of the EPS participant's automation system, as a result of which the payment transaction cannot be completed within the established timeframe, provided that such technological works are performed at the time of the lowest activity of customers' payment transactions and are notified to the CSEP and customers in advance, indicating the date and time of their performance and the expected duration of performance;

2) establishing an obligation for a non-bank payment service provider to ensure appropriate adaptation of its software and hardware to the EPS technology in order to include information about it in the directory of non-bank payment service providers and to obtain

• confirmation of full interaction with the bank / branch of the bank - EPS participant, in which / which it has opened a settlement account at the EPS stand, from the National Bank
• from the bank/branch of the bank participating in EPS, in which it has opened a current account, confirmation of full interaction with the said bank/branch of the bank participating in EPS.

These changes were approved by the NBU Board Resolution No. 36 dated March 27, 2024, which comes into force on March 29, 2024.