• 12/07/2024 10:53

Money transfers are prohibited: the NBU told who restrictions will be introduced for

Money transfers are prohibited: the NBU told who restrictions will be introduced for

The NBU proposes to increase the transparency of payment transactions.

National Bank of Ukraineis discussing a ban on entrepreneurs cashing out settlements with individuals through the transfer of funds without opening an account.

The regulator’s press service reports this.

In particular, the NBU proposes to increase the transparency of payment transactions by updating transfer procedures without opening an account in the national currency. In addition, they want to exclude the possibility of business entities cashing out settlements with individuals carried out through money transfers without opening an account.

At the same time, the National Bank is discussing updating the requirement for withdrawal from circulation and transfer for investigation of suspicious banknotes and coins, as well as reducing the time frame for conducting these studies by the National Bank.

“Transfer of funds without opening an account is a payment service provided to the payer for the purpose of transferring funds in cash or non-cash forms to the recipient or payment service provider acting on behalf of the recipient, during which the provider of this service does not use the account of the payer and/or recipient opened with him” , explained the NBU.

Earlier, Deputy Head of the National Bank of Ukraine Ekaterina Rozhkova said that the National Bank is working on restrictions on card transfers. And they will concern businesses and individuals.

We would like to remind you that in the banking sector there are already restrictions due to the requirements of the legislation on financial monitoring:

  • transfers totaling more than 400 thousand hryvnia require banks to more carefully study the origin of the transferred funds,
  • usually bank limits provide for the transfer of funds in the amount of up to 30 thousand hryvnia per transaction, and the total volume of transfers per client – up to 400 thousand hryvnia.

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