NBU changes rules for payment transactions
The National Bank of Ukraine proposes changes to the organization of cash operations by banks and payment transactions by payment service providers in Ukraine for repeated public discussion.
In March of this year, the NBU proposed to increase the transparency of cash transfer transactions. In this regard, cash transferred by individuals in favor of individual entrepreneurs/legal entities will have to be credited by payment service providers to the accounts of the latter (using the IBAN number) in a non-cash form.
At the same time, such changes do not apply to individuals; they will continue to be able to choose the type of transfer and payment for services or goods of individual entrepreneurs and other legal entities that is convenient for them - in cash or non-cash.
In addition, the NBU plans to
- Reduce the timeframe for the NBU to conduct investigations of suspicious banknotes and coins;
- to add a requirement for a document confirming the fact of unloading a payment device for further cash delivery to bank units and attachment to the bank's cash documents of the day.
These rules are contained in the updated draft resolution of the Board of the National Bank of Ukraine "On Approval of Amendments to the Instruction on the Procedure for Organizing Cash Operations by Banks and Conducting Payment Transactions by Payment Service Providers in Ukraine" (hereinafter - the draft resolution). In particular, it takes into account a number of proposals submitted by financial market participants following the first discussion in March 2024.
The materials for the second discussion can be found at the following links:
Comments and suggestions to the draft Resolution are accepted in accordance with the form for submitting comments and suggestions until May 20, 2024 inclusive.
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